14.70 G/T AU OVER 23.60 METERS AND 17.31 G/T AU OVER 7.90 METERS

SHAFT ZONE HIGHLIGHTS INCLUDE 11.83 G/T OVER 17.50 METERS

 

TORONTO, ON – August 23, 2018 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce additional drilling results from the 50,000-meter 2018 Island Mountain exploration and delineation program at the Company’s flagship Cariboo Gold Project.  The infill drilling results continue to demonstrate continuity and expansion of modelled vein corridors at both Shaft Zone and Mosquito Creek Zone on Island Mountain.

Recent highlights include high-grade intersections at Mosquito Creek Zone hole IM-18-102 that assayed 14.70 g/t Au over 23.60 meters, at a vertical depth of 120 meters. This intercept is 10 meters down dip from hole IM-17-100 that assayed 24.13 g/t Au over 12.70 meters. Recent high-grade intercepts at Shaft Zone on Island Mountain include 3,780 g/t Au over 0.70-meter-wide sample in hole IM-18-108 and 11.83 g/t Au over 17.50 meters in hole IM-18-113. Detailed drilling results are presented in the table below. A drill hole location plan map and vertical section are presented at the end of this release. The Company’s 3D deposit model with assay highlights is located here.

 

Selected Drilling Highlights:

·       IM-18-094: 17.31 g/t Au over 7.90 meters
·       IM-18-095: 11.33 g/t Au over 4.95 meters
·       IM-18-096: 24.02 g/t Au over 2.50 meters
·       IM-18-097: 42.64 g/t Au over 2.80 meters
·       IM-18-098: 48.79 g/t Au over 1.65 meters
·       IM-18-102: 14.70 g/t Au over 23.60 meters
·       IM-18-106: 19.91 g/t Au over 5.10meters
·       IM-18-106: 10.70 g/t Au over 15.95 meters
·       IM-18-108: 3,780 g/t Au over 0.70 meter
·       IM-18-112: 6.22 g/t Au over 10.30 meters
·       IM-18-113: 11.83 g/t Au over 17.50 meters
·       IM-18-115: 105 g/t Au over 0.50 meters
·       IM-18-118: 14.82 g/t Au over 6.75 meters
·       IM-18-118: 34.94 g/t Au over 4.30 meters
·       IM-18-120: 10.33 g/t Au over 5.55 meters

 

Potential to Expand Mosquito Creek Zone

The intervals noted above were intersected in holes from both Shaft Zone and Mosquito Creek Zone on Island Mountain. The holes were designed to infill and expand mineralized vein corridors down to depths of 500 meters. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike. These corridors have been defined from surface to a vertical depth of 600 meters and remain open for expansion at depth and down plunge. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins. A cross section of IM-18-102 is present below and identifies areas of vein mineralization wider than previously interpreted. The Mosquito Creek Zone is untested along strike to the north west.

The Company is currently exploring and delineating vein corridors with six drill rigs on Cow Mountain.

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 mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company’s Brownfield’s exploration team is focused on developing and delineating a mineable resource within the 7 kilometers of principle project area located near the town of Wells, British Columbia. The Company’s Greenfield’s team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration. The operation’s team is focused on developing and mining the Bonanza Ledge and BC Vein deposits on Barkerville Mountain. This operation allows the company to generate near term cash flow, train a local work force, keeps the present mining permit active, and de-risk’s the project through staged production growth. Processing of material from these deposits is processed at the QR mill. QR is a fully owned, permitted mill and tailings facility, located approximately 110 kilometres away from Wells, and can be accessed by an all-season road.

 

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

HOLE ID   FROM TO CORE LENGTH (M) AU (G/T) ZONE
IM-18-091   43.70 44.85 1.15 20.30 Shaft
  57.35 58.10 0.75 24.20  
  78.85 79.90 1.05 5.04  
  95.90 96.40 0.50 8.44  
  98.00 99.30 1.30 8.85  
  161.00 161.50 0.50 18.30  
  171.75 172.60 0.85 9.14  
    215.50 216.50 1.00 5.42  
IM-18-092   30.00 30.90 0.90 6.48 Shaft
IM-18-093   35.50 36.20 0.70 3.31 Mosquito Creek
  75.00 75.85 0.85 1.30  
  107.00 108.65 1.65 4.92  
  112.75 113.35 0.60 7.87  
  143.85 144.35 0.50 4.53  
  155.30 156.00 0.70 4.52  
    161.25 162.25 1.00 4.37  
IM-18-094   71.20 71.75 0.55 4.09 Mosquito Creek
  77.05 78.20 1.15 13.35  
  99.00 100.10 1.10 13.75  
  101.05 103.35 2.30 3.48  
  145.95 153.85 7.90 17.31  
  Including 145.95 146.50 0.55 9.82  
  and 147.55 148.40 0.85 40.60  
  and 149.10 149.65 0.55 15.85  
  and 150.15 150.65 0.50 37.30  
  and 152.15 153.20 1.05 47.60  
  156.80 157.85 1.05 17.30  
    207.80 208.65 0.85 30.00  
IM-18-095   67.50 68.95 1.45 13.10 Shaft
  185.50 190.45 4.95 11.33  
  Including 186.40 187.30 0.90 8.83  
  and 187.30 188.20 0.90 32.90  
  and 189.50 190.45 0.95 13.75  
IM-18-096   49.10 49.75 0.65 18.70 Shaft
  53.50 54.00 0.50 4.54  
  107.25 111.35 4.10 5.34  
  Including 107.25 108.00 0.75 11.50  
  and 109.00 109.60 0.60 3.91  
  and 110.40 111.35 0.95 11.15  
  168.00 174.00 6.00 7.53  
  Including 168.00 169.00 1.00 8.77  
  and 169.00 170.50 1.50 11.10  
  and 173.40 174.00 0.60 27.30  
  195.20 197.70 2.50 24.02  
  Including 195.20 195.80 0.60 11.20  
  and 196.70 197.70 1.00 52.90  
IM-18-097   12.95 15.75 2.80 42.64 Shaft
  Including 14.45 15.75 1.30 87.10  
  103.50 104.00 0.50 21.70  
  115.30 116.10 0.80 23.90  
    119.65 120.15 0.50 4.66  
IM-18-098   154.35 156.00 1.65 48.79 Shaft
  Including 154.85 155.35 0.50 69.30  
  and 155.35 156.00 0.65 68.00  
IM-18-099   24.00 25.00 1.00 4.75 Shaft
IM-18-100   138.60 139.20 0.60 13.25 Shaft
  140.15 141.10 0.95 4.15  
  176.50 177.00 0.50 15.00  
    182.80 183.30 0.50 6.90  
IM-18-101   130.20 130.80 0.60 5.59 Shaft
  140.40 140.90 0.50 34.70  
  157.00 158.40 1.40 19.23  
  Including 157.60 158.40 0.80 31.30  
  177.85 179.35 1.50 14.95  
  232.50 233.00 0.50 14.80  
  264.65 270.70 6.05 5.40  
  Including 264.65 265.20 0.55 6.99  
  and 267.50 268.10 0.60 28.30  
  and 269.95 270.70 0.75 9.15  
    274.80 275.30 0.50 8.28  
IM-18-102   95.00 95.50 0.50 20.10 Mosquito Creek
  130.00 153.60 23.60 14.70  
  Including 131.50 132.60 1.10 93.30  
  and 135.10 135.80 0.70 29.40  
  and 139.50 140.00 0.50 10.50  
  and 141.00 141.50 0.50 14.40  
  and 142.30 142.80 0.50 40.60  
  and 142.80 143.90 1.10 105.50  
  and 145.00 145.50 0.50 12.35  
  and 150.15 150.80 0.65 13.05  
  and 153.10 153.60 0.50 37.20  
    171.75 172.60 0.85 35.40  
IM-18-103   46.10 48.33 2.23 21.12 Shaft
  Including 46.90 47.40 0.50 46.50  
  136.00 137.00 1.00 6.78  
    175.75 177.10 1.35 13.50  
IM-18-104   57.95 58.80 0.85 20.80 Shaft
  72.00 72.75 0.75 6.47  
  80.45 84.50 4.05 11.26  
  Including 83.00 84.50 1.50 27.00  
  225.80 229.50 3.70 5.97  
  Including 225.80 227.00 1.20 14.85  
IM-18-105   31.50 32.35 0.85 24.80 Shaft
  43.45 44.05 0.60 80.50  
  56.00 56.50 0.50 6.39  
  111.15 112.50 1.35 6.36  
  129.40 130.00 0.60 24.20  
    217.50 219.00 1.50 25.50  
IM-18-106   34.00 39.10 5.10 19.91 Shaft
  Including 34.00 34.50 0.50 9.27  
  and 36.00 37.00 1.00 13.40  
  and 38.40 39.10 0.70 117.50  
  49.50 50.00 0.50 55.70  
  118.40 120.00 1.60 19.20  
  Including 118.40 119.20 0.80 28.30  
  127.20 130.00 2.80 11.06  
  Including 127.20 127.80 0.60 27.40  
  and 129.50 130.00 0.50 22.70  
  132.10 132.60 0.50 10.40  
  142.00 143.00 1.00 4.47  
  148.90 152.75 3.85 10.15  
  Including 148.90 149.50 0.60 8.57  
  and 151.60 152.75 1.15 26.70  
  156.50 157.20 0.70 31.60  
  161.40 162.50 1.10 5.15  
  166.20 166.70 0.50 8.72  
  172.00 173.20 1.20 4.69  
  208.84 209.95 1.11 10.60  
  217.05 233.00 15.95 10.70  
  Including 217.05 218.00 0.95 5.02  
  and 228.85 229.40 0.55 14.35  
  and 229.40 230.10 0.70 18.45  
  and 230.10 231.00 0.90 112.00  
  and 232.00 233.00 1.00 9.93  
IM-18-107   43.00 43.50 0.50 5.35 Shaft
    134.75 135.70 0.95 6.38  
IM-18-108   34.50 35.20 0.70 3780.00 Shaft
  36.50 38.00 1.50 5.23  
    54.10 57.10 3.00 4.70  
IM-18-109   135.00 135.50 0.50 4.91 Mosquito Creek
  145.00 147.00 2.00 13.81  
  Including 145.00 146.35 1.35 18.30  
IM-18-110   84.60 85.15 0.55 13.20 Shaft
IM-18-111   33.50 34.50 1.00 25.10 Shaft
  106.30 107.00 0.70 23.40  
  109.50 110.00 0.50 4.57  
  120.80 122.00 1.20 13.05  
  126.45 127.65 1.20 8.86  
  175.00 175.70 0.70 5.39  
  190.10 190.70 0.60 18.75  
    230.00 230.60 0.60 17.50  
IM-18-112   92.25 92.75 0.50 15.05 Shaft
  138.00 139.50 1.50 8.03  
  145.60 146.65 1.05 40.80  
  153.40 154.10 0.70 4.53  
  172.20 182.50 10.30 6.22  
  Including 172.20 172.90 0.70 35.40  
  and 175.00 175.50 0.50 10.10  
  and 176.50 177.40 0.90 7.27  
  and 180.50 181.05 0.55 24.60  
  189.80 191.10 1.30 6.78  
  Including 189.80 190.60 0.80 8.78  
  202.65 205.00 2.35 9.25  
  Including 203.65 205.00 1.35 12.40  
  227.00 227.80 0.80 20.30  
  237.00 237.50 0.50 5.41  
  251.45 252.25 0.80 5.48  
    254.45 255.40 0.95 8.86  
IM-18-113   261.20 278.70 17.50 11.83 Shaft
  Including 261.20 261.80 0.60 25.70  
  and 266.45 267.00 0.55 64.40  
  and 267.00 267.80 0.80 20.40  
  and 269.05 269.70 0.65 14.25  
  and 272.25 273.45 1.20 41.10  
  and 275.10 276.00 0.90 24.50  
  and 276.70 277.20 0.50 20.10  
IM-18-114 Hole Abandoned       Shaft
IM-18-115   36.00 36.60 0.60 91.50 Shaft
  112.70 116.70 4.00 3.13  
  Including 112.70 113.30 0.60 8.33  
  213.75 214.25 0.50 105.00  
  386.30 386.85 0.55 37.50  
    402.50 405.15 2.65 4.31  
IM-18-116   8.10 8.60 0.50 5.30 Shaft
IM-18-117   89.00 91.00 2.00 8.06 Shaft
  Including 90.50 91.00 0.50 21.90  
  206.60 207.10 0.50 13.25  
  216.10 216.60 0.50 3.06  
  224.20 224.70 0.50 13.60  
  231.85 232.50 0.65 4.68  
    273.65 274.15 0.50 25.10  
IM-18-118   68.90 69.75 0.85 4.78 Shaft
  87.00 93.75 6.75 14.82  
  Including 88.30 89.30 1.00 73.70  
  and 93.00 93.75 0.75 11.30  
  142.55 144.00 1.45 14.99  
  Including 142.55 143.50 0.95 17.65  
  149.60 152.00 2.40 5.79  
  Including 151.35 152.00 0.65 13.65  
  153.95 158.25 4.30 34.94  
  Including 153.95 154.45 0.50 31.10  
  and 154.45 154.95 0.50 33.70  
  and 154.95 155.45 0.50 5.63  
  and 155.45 156.30 0.85 7.77  
  and 156.30 156.90 0.60 64.80  
  and 156.90 157.40 0.50 50.50  
  and 157.40 158.25 0.85 52.10  
IM-18-119 No Significant Assays       Shaft
IM-18-120   190.45 196.00 5.55 10.33 Shaft
  Including 190.45 191.00 0.55 8.72  
  and 191.00 192.00 1.00 10.45  
  and 192.00 193.00 1.00 10.45  
  and 193.00 193.70 0.70 5.08  
  and 193.70 194.20 0.50 17.65  
  and 194.20 194.70 0.50 6.31  
  and 194.70 195.20 0.50 19.40  
  and 195.20 196.00 0.80 8.02  
IM-18-121   33.15 33.65 0.50 50.30 Mosquito Creek
  34.80 35.35 0.55 93.30  
  164.60 165.20 0.60 6.90  
  238.25 238.90 0.65 14.10  
  245.15 247.75 2.60 9.41  
  Including 245.15 246.00 0.85 23.50  
  and 246.75 247.25 0.50 5.94  
IM-18-122   117.50 118.20 0.70 2.92 Mosquito Creek
IM-18-123 No Significant Assays       Mosquito Creek
IM-18-124 No Significant Assays       Mosquito Creek
IM-18-125   113.60 115.05 1.45 8.58 Mosquito Creek

True widths are estimated to be 50 to 75% of reported core length intervals. 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-18-091 153 -53
IM-18-092 133 -63
IM-18-093 315 -50
IM-18-094 315 -55
IM-18-095 127 -68
IM-18-096 146 -61
IM-18-097 142 -55
IM-18-098 126 -52
IM-18-099 125 -45
IM-18-100 142 -50
IM-18-101 128 -50
IM-18-102 314 -59
IM-18-103 142 -65
IM-18-104 136 -44
IM-18-105 130 -51
IM-18-106 120 -50
IM-18-107 140 -45
IM-18-108 141 -50
IM-18-109 341 -47
IM-18-110 158 -47
IM-18-111 122 -58
IM-18-112 136 -61
IM-18-113 131 -51
IM-18-115 126 -48
IM-18-116 148 -68
IM-18-117 136 -45
IM-18-118 132 -59
IM-18-119 128 -48
IM-18-120 135 -70
IM-18-121 152 -48
IM-18-122 133 -48
IM-18-123 132 -50
IM-18-124 147 -47
IM-18-125 145 -45