Barkerville Gold Mines improves resources for Cariboo gold project, British Columbia

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    Barkerville Gold of Toronto have announced newly improved resource estimates for their Cow, Island and Berkerville Mountain deposits at their 100% owned Cariboo Gold Project in Wells, British Columbia.

    The revised estimate consists of a measured and indicated resource of 2.4 million ounces of gold (13.2 million tonnes grading 5.6 g/t Au) a 50% increase from the 2018 resource, with an inferred resource of 1.9 million ounces of gold(12 million tonnes grading 5.0 g/t Au).

    Barkerville have factored in the effect of internal dilution in their estimate, which have allowed them to consider larger mining methods in some of areas in order to reduce operating costs in a future scale operation, and to allow for better continuity and resource-to-reserve conversion.

    The mineral resource estimate incorporates the Cow and Valley Zones on Cow Mountain, Shaft and Mosquito Creek Zones on Island Mountain and BC Vein and Bonanza Ledge on Barkerville Mountain at a cut-off grade of 3.0 g/t Au (“grams per metric tonne”). The resource is defined over 6 kilometers of BGM’s 67-kilometer-long land package. 

    The mineral resource estimate for Cow and Island Mountain deposits is built upon over 400,000 meters from BGM’s 2015 to 2018 drill campaigns, and historically verified drill data using a total of 3,426 drillholes.

    Commenting on the revised figures, Chris Lodder, President and CEO of BGM commented, “The continuing resource growth shows improved knowledge of the grade distribution, vein corridor thickness and continuity within and at depth and on strike as a function of the infill drilling. Drilling will now continue to add upside not just within the current resource area but all along the 67 km mineralized trend controlled by BGM.”

    A 3D model with the updated geological model and block model is available on the following link: https://vrify.com/embed/projects/183/sites/788

    About the Cariboo Gold Project 

    The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. BGM’s Cariboo Gold Project mineral tenures cover 1,950 square kilometers; along a strike length of 67 kilometers 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 upgrading and expanding the May 2018 43-101 resource within the 8 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 completing required studies in order to permit underground mining on Cow and Island Mountains.

    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 2,039 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.

    Find out more at http://barkervillegold.com


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    MiningIR host a variety of articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.

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