VALLEY ZONE INTERSECTION OF 12.22 G/T AU OVER 11.40 METERS


TORONTO, ON
– April 4, 2018 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce final drilling results from the 160,000-meter 2017 Island Mountain and Valley Zone and exploration and drilling programs at the Company’s flagship Cariboo Gold Project.  Detailed drilling results, a drill hole location plan map and vertical sections are presented at the end of this release. The exact geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time therefore core lengths are reported. The company currently has 7 drill rigs exploring and delineating mineralized vein corridors on Island Mountain.

Drilling Highlights

  • IM-17-240: 28.99 g/t Au over 2.70 meters
  • IM-17-241: 8.25 g/t Au over 7.50 meters
  • IM-17-242: 8.30 g/t Au over 10.75 meters
  • IM-17-247: 13.09 g/t Au over 4.25 meters
  • IM-17-249: 48.17 g/t Au over 9.95 meters
  • IM-17-251: 33.22 g/t Au over 2.50 meters
  • IM-17-251: 9.15 g/t Au over 7.05 meters
  • CM-17-098: 11.09 g/t Au over 4.90 meters
  • CM-17-101: 13.45 g/t Au over 7.80 meters
  • CM-17-106: 12.22 g/t Au over 11.40 meters

 

Vein Zone Continuity on Island Mountain and Valley Zone

Continuity and extensions of mineralized vein corridors on Island Mountain and in the Valley Zone is demonstrated from recent results. Island Mountain Shaft Zone hole IM-17-249 intersected 48.17 g/t Au over 9.95 meters, 45 meters down dip from previous reported hole IM-17-151 which assayed 72.23 g/t Au over 12.05 meters. Valley Zone hole CM-17-106 intersected 12.22 g/t Au over 11.40 meters, 40 meters down dip of a modelled vein corridor and 40 meters up dip from previously reported hole CM-17-096 which intersected 12.50 g/t Au over 8.00 meters and 11.74 g/t Au over 5.15 meters further down hole.

Corridors Discussion

Mineralized quartz veins on the Cariboo Gold Project are hosted within the sandstones and are an anastomosing network of high vein density with an overall sub-vertical dip and northeast strike. Recent modelling of the vein corridors Island Mountain proposes 50 mineralized vein corridors at Shaft Zone and 17 mineralized vein corridors at Valley Zone. These vein corridors have estimated horizontal width of 3 meters and a strike length of up to 300 meters. These corridors have been defined from surface to a vertical depth of 600 meters and remain open for expansion at depth and down plunge. Drill hole spacing in the corridors currently averages 25 meters between drilling sections with vertical drilling separations ranging from 20 to 75 meters with hole spacing increasing at depth. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

Qualified Persons

 

Exploration activities at the Cariboo Gold Project are administered on site by the Company’s Project Geologists, Kyle Orr and Felipe Castaneda. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

 

Quality Assurance – Quality Control

 

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company’s secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company’s Qualified Person, Maggie Layman, P.Geo, Vice President Exploration.

 

Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

 

For further information on Barkerville Gold Mines Ltd. please contact:

Chris Lodder

President & Chief Executive Officer

155 University Avenue, Suite 1440

Toronto, Ontario, Canada

[email protected]

 

About Barkerville Gold Mines Ltd.

 

The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s mineral tenures cover 1,950 square kilometres along a strike length of 67 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by Barkerville in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of 2015 with 91,489 tonnes of material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

 

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange (‘TSXV’) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Table 1: Length weighted gold composites from Island Mountain and Valley Zone

HOLE ID   FROM TO CORE LENGTH (M) AU (G/T)
IM-17-239 111.35 111.85 0.50 5.78
138.35 138.85 0.50 27.10
IM-17-240 7.30 7.80 0.50 11.25
24.90 27.20 2.30 5.81
259.75 261.05 1.30 13.01
INCLUDING 259.75 260.55 0.80 18.60
267.40 267.90 0.50 7.72
347.30 350.00 2.70 28.99
INCLUDING 348.55 350.00 1.45 38.20
IM-17-241 39.35 41.00 1.65 15.83
INCLUDING 40.20 41.00 0.80 19.80
113.25 120.75 7.50 8.25
INCLUDING 118.00 118.50 0.50 61.60
AND 118.50 119.40 0.90 15.05
AND 120.25 120.75 0.50 17.20
315.00 316.00 1.00 12.30
IM-17-242 62.80 63.50 0.70 7.40
77.00 87.75 10.75 8.30
INCLUDING 77.50 79.00 1.50 12.70
AND 79.00 80.00 1.00 26.70
AND 84.00 85.00 1.00 11.10
AND 87.00 87.75 0.75 11.35
91.85 94.10 2.25 13.92
INCLUDING 91.85 93.00 1.15 24.50
122.20 123.05 0.85 6.94
IM-17-243 85.10 86.00 0.90 6.56
129.00 130.15 1.15 16.60
160.30 161.80 1.50 5.03
451.00 452.50 1.50 4.68
IM-17-244 24.00 25.00 1.00 5.24
166.50 167.20 0.70 4.31
IM-17-245 363.25 364.30 1.05 4.69
IM-17-246 17.45 18.05 0.60 8.47
303.00 303.50 0.50 7.19
IM-17-247 51.90 55.50 3.60 13.01
INCLUDING 51.90 52.60 0.70 39.00
AND 54.30 55.00 0.70 20.80
AND 55.00 55.50 0.50 6.01
211.90 212.40 0.50 9.93
295.00 295.50 0.50 8.71
311.00 315.25 4.25 13.09
INCLUDING 311.00 311.60 0.60 8.99
AND 312.60 313.10 0.50 19.60
AND 313.75 314.25 0.50 26.60
AND 314.75 315.25 0.50 24.10
321.50 322.00 0.50 4.99
IM-17-248 141.35 142.65 1.30 9.44
141.95 142.65 0.70 11.45
185.25 185.75 0.50 4.38
IM-17-249 274.05 274.55 0.50 5.98
356.55 357.05 0.50 8.34
386.55 394.55 8.00 6.46
INCLUDING 386.55 387.35 0.80 5.57
AND 390.00 391.00 1.00 15.50
AND 392.60 393.55 0.95 10.05
AND 393.55 394.05 0.50 13.05
AND 394.05 394.55 0.50 23.50
429.00 430.00 1.00 6.90
434.75 435.95 1.20 6.55
INCLUDING 434.75 435.25 0.50 11.30
486.40 488.90 2.50 5.95
INCLUDING 488.25 488.90 0.65 11.55
524.65 525.15 0.50 17.90
538.50 548.45 9.95 48.17
INCLUDING 539.00 539.60 0.60 29.70
AND 541.40 541.90 0.50 159.50
AND 543.65 544.40 0.75 417.00
AND 546.00 547.00 1.00 24.80
562.85 563.35 0.50 5.69
574.65 576.70 2.05 24.96
INCLUDING 575.15 575.75 0.60 49.10
695.95 696.85 0.90 8.94
707.00 707.50 0.50 4.57
IM-17-250 135.00 135.50 0.50 4.08
144.60 145.70 1.10 5.51
153.50 154.00 0.50 11.55
375.50 376.70 1.20 10.20
381.00 381.60 0.60 7.37
IM-17-251 80.50 83.00 2.50 33.22
INCLUDING 80.50 81.00 0.50 36.30
AND 81.90 83.00 1.10 59.00
87.50 88.05 0.55 68.90
92.25 99.30 7.05 9.15
INCLUDING 93.00 93.90 0.90 19.55
AND 93.90 94.40 0.50 54.50
AND 97.00 98.00 1.00 5.66
AND 98.70 99.30 0.60 16.45
203.50 204.00 0.50 11.00
399.00 402.40 3.40 12.30
INCLUDING 399.60 400.10 0.50 32.90
AND 401.30 402.40 1.10 15.40
418.00 421.00 3.00 6.77
INCLUDING 420.50 421.00 0.50 30.10
IM-17-252 ABANDONED
IM-17-253 ABANDONED
IM-17-254 214.80 215.30 0.50 38.70
286.50 287.10 0.60 13.85
349.00 349.80 0.80 11.30
376.00 376.90 0.90 8.16
IM-17-254-1 NO SIGNIFICANT ASSAYS
IM-17-255 32.85 33.45 0.60 39.30
41.30 41.80 0.50 10.80
57.30 58.00 0.70 4.16
60.20 61.10 0.90 6.32
77.25 87.90 10.65 5.28
INCLUDING 77.90 78.40 0.50 9.20
AND 82.00 83.25 1.25 16.30
AND 83.25 84.70 1.45 12.40
AND 87.40 87.90 0.50 7.51
143.55 144.45 0.90 7.16
157.70 158.35 0.65 17.60
161.55 162.10 0.55 8.24
358.90 359.40 0.50 20.20
380.10 380.60 0.50 15.70
397.50 398.00 0.50 8.93
416.50 417.80 1.30 5.27
IM-17-256 69.90 70.80 0.90 8.17
106.60 108.30 1.70 14.79
INCLUDING 106.60 107.70 1.10 17.00
144.00 145.25 1.25 5.21
227.30 229.30 2.00 26.28
INCLUDING 227.30 228.80 1.50 29.20
286.90 288.30 1.40 4.43
INCLUDING 287.80 288.30 0.50 6.72
330.00 332.15 2.15 6.89
334.70 335.50 0.80 10.20
353.25 355.20 1.95 10.22
INCLUDING 353.25 353.75 0.50 14.90
AND 354.50 355.20 0.70 17.10
IM-17-257 95.15 97.60 2.45 9.01
INCLUDING 96.00 97.00 1.00 14.35
136.20 136.75 0.55 50.50
142.60 143.60 1.00 8.84
INCLUDING 143.10 143.60 0.50 10.95
222.25 227.50 5.25 4.77
INCLUDING 222.25 222.75 0.50 25.20
AND 224.05 225.30 1.25 5.70
AND 226.90 227.50 0.60 5.83
249.85 250.35 0.50 14.45
253.50 255.00 1.50 8.60
290.00 292.00 2.00 6.14
INCLUDING 290.50 291.00 0.50 13.70
320.00 322.00 2.00 10.11
INCLUDING 320.00 321.20 1.20 11.95
325.90 326.55 0.65 5.63
CM-17-098 73.25 74.50 1.25 32.10
101.00 101.80 0.80 5.01
266.45 267.00 0.55 4.54
285.50 288.40 2.90 7.61
INCLUDING 285.50 287.00 1.50 8.05
AND 287.90 288.40 0.50 19.30
357.20 358.90 1.70 8.60
INCLUDING 357.20 357.70 0.50 12.40
AND 358.20 358.90 0.70 11.90
393.10 394.20 1.10 8.28
424.20 429.10 4.90 11.09
INCLUDING 424.20 424.70 0.50 21.70
AND 425.20 426.20 1.00 5.83
AND 426.20 426.90 0.70 49.40
AND 428.55 429.10 0.55 4.39
551.50 552.05 0.55 8.89
CM-17-099 72.65 73.15 0.50 13.50
83.50 85.35 1.85 36.89
INCLUDING 83.50 84.00 0.50 4.12
AND 84.65 85.35 0.70 94.50
91.50 92.00 0.50 5.53
107.20 107.70 0.50 41.80
183.45 183.95 0.50 4.39
185.60 186.10 0.50 5.58
376.30 378.70 2.40 16.98
INCLUDING 376.30 377.00 0.70 11.90
AND 378.00 378.70 0.70 46.00
387.25 388.75 1.50 5.93
392.45 393.40 0.95 20.40
415.70 420.05 4.35 5.35
INCLUDING 415.70 416.45 0.75 8.32
AND 419.10 420.05 0.95 14.95
431.75 433.70 1.95 11.58
INCLUDING 431.75 432.45 0.70 16.25
AND 433.15 433.70 0.55 19.95
CM-17-100 126.60 127.30 0.70 6.93
503.80 504.75 0.95 12.20
580.85 582.20 1.35 8.76
INCLUDING 581.65 582.20 0.55 14.15
CM-17-101 20.00 21.00 1.00 13.00
23.30 23.80 0.50 8.08
29.80 30.30 0.50 7.68
243.50 244.50 1.00 25.01
INCLUDING 244.00 244.50 0.50 42.60
334.30 335.45 1.15 34.10
INCLUDING 334.30 334.90 0.60 43.00
348.50 351.45 2.95 8.54
INCLUDING 348.50 349.20 0.70 10.80
AND 350.35 350.95 0.60 24.30
AND 350.95 351.45 0.50 5.33
375.10 382.90 7.80 13.45
INCLUDING 375.10 375.65 0.55 43.40
AND 375.65 376.20 0.55 16.30
AND 376.70 377.55 0.85 35.80
AND 378.95 379.40 0.45 16.35
AND 379.40 379.90 0.50 15.80
AND 381.80 382.35 0.55 29.10
AND 382.35 382.90 0.55 12.90
407.10 407.60 0.50 22.10
410.50 411.00 0.50 6.17
426.70 427.20 0.50 17.95
CM-17-102 ABANDONED
CM-17-103 311.40 313.00 1.60 36.64
INCLUDING 311.40 312.00 0.60 71.20
317.85 318.35 0.50 11.65
377.15 378.50 1.35 5.04
391.65 392.55 0.90 8.90
399.30 400.20 0.90 7.95
427.50 428.00 0.50 7.34
491.65 492.15 0.50 36.40
CM-17-104 263.65 264.15 0.50 29.80
285.55 293.05 7.50 5.19
INCLUDING 285.55 286.55 1.00 9.31
AND 286.55 287.35 0.80 8.42
AND 290.60 291.30 0.70 10.15
349.25 349.75 0.50 4.19
477.30 477.90 0.60 16.50
516.75 517.65 0.90 10.05
527.65 529.90 2.25 5.41
INCLUDING 527.65 528.20 0.55 11.75
AND 529.40 529.90 0.50 8.29
566.15 566.85 0.70 6.06
CM-17-105 48.35 49.50 1.15 4.84
102.50 103.35 0.85 34.60
122.00 122.50 0.50 25.70
254.20 255.00 0.80 4.80
289.40 289.90 0.50 5.48
CM-17-106 291.60 292.10 0.50 17.90
309.90 311.50 1.60 30.32
INCLUDING 309.90 310.40 0.50 83.80
320.50 321.00 0.50 8.90
325.00 325.50 0.50 4.94
334.10 345.50 11.40 12.22
INCLUDING 334.10 334.60 0.50 186.00
AND 340.50 342.00 1.50 18.30
AND 345.00 345.50 0.50 8.11
349.85 350.85 1.00 22.20
403.80 404.30 0.50 4.77
430.00 433.00 3.00 5.42
449.15 449.65 0.50 4.72
489.90 495.90 6.00 6.29
INCLUDING 489.90 491.00 1.10 15.30
INCLUDING 495.00 495.90 0.90 13.00
581.00 582.30 1.30 11.50
601.00 602.00 1.00 8.09
617.00 617.50 0.50 25.70
693.00 694.00 1.00 5.14

 

True widths cannot be accurately determined from the information available therefore core lengths are reported. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

Table 2: Drillhole Collar Orientations:

HOLE ID AZIMUTH DIP
IM-17-239 140 -64.9
IM-17-240 140 -49.8
IM-17-241 138 -54.5
IM-17-242 145 -56.1
IM-17-243 138 -43.7
IM-17-244 142 -59.1
IM-17-245 145 -43.7
IM-17-246 146 -61.9
IM-17-247 141 -45.3
IM-17-248 141 -56.3
IM-17-249 138 -46.8
IM-17-250 141 -44.9
IM-17-251 141 -59.9
IM-17-254 144 -61.0
IM-17-254-1 144 -61.0
IM-17-255 143 -44.5
IM-17-256 141 -65.0
IM-17-257 147 -53.0
CM-17-098 310 -59.9
CM-17-099 311 -44.0
CM-17-100 307 -55.5
CM-17-101 311 -46.3
CM-17-103 312 -46.5
CM-17-104 311 -57.2
CM-17-105 312 -61.4
CM-17-106 310 -48.0