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Barkerville Gold Mines Ltd.
Summary
| Project: | Cariboo Gold Project | |
|---|---|---|
| Deposit: | Cow Mountain | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/31/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-8-2016: Barkerville Gold Mines Ltd. announces an Exploration/Drilling Update report for its Cow Mountain deposit at the Cariboo Gold Project project. Drilling results incl. 22.20m @ 10.02g/t Au from 120.50m. VANCOUVER, BC– August 31, 2016 – Barkerville | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul Geddes (Internal) | |
| ABSTRACT: | VANCOUVER, BC– August 31, 2016 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “BGM”) is pleased to announce results from the ongoing Phase I exploration and category conversion drilling program on Cow Mountain at the Company’s flagship Cariboo Gold Project (CGP). The results of these drillholes are presented in Table 1. A drillhole location plan map and longitudinal section are attached hereto. As per the Company’s directive to optimize a new, geologically constrained gold resource at Cow Mountain potentially amenable to either open pit and or underground mining methods, 242 drillholes totaling 32,290 metres have now been completed in the 2016 Phase I drilling program. Assay results for the final 40 drillholes are pending and will be made public once available. The purpose of the Cow Mountain 2016 campaign was to confirm and upgrade auriferous drill intersections by previous operators from 1938-1981 that were classified as inferred mineralization because of lessened data confidence and not simply a function of wider drillhole spacing. The 2016 Phase I program was explicitly targeting these areas by replacing the historical gold intersections with modern drilling that conforms to CIM best practices and QAQC procedures. Based upon the 2016 drilling results to date, there has been excellent correlation between the historic mineralized intervals and the new 2016 drilling. With the Cow Mountain drilling now completed, three drill rigs have been mobilized to Island Mountain and are currently performing a first pass, 20,000 metre Phase I drilling program. The vein style of gold mineralization that dominates on Cow Mountain also occurs on Island Mountain but was never the primary focus of exploration or past development because of the incidence of higher grade massive sulphide replacement style mineralized bodies. As such, the 2016 Phase I program is designed to determine the extents of these vein systems, as well as test the down plunge extensions of the replacement bodies in areas that have never been drilled. | |
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