BCGold Corp.

BCGold Corp.

March 03, 2010 08:00 ET

BCGold Corp. Sampling Returns High-Grade Gold Values at Engineer Mine Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2010) - BCGold Corp. (TSX VENTURE:BCG) (the "Company") is pleased to announce that high-grade gold assay results have been received from recent underground channel sampling on 4 veins at the Company's historic high grade Engineer Mine Property, situated 32 kilometres west of Atlin, B.C. Channel samples containing variable amounts of visible electrum, a gold-bearing silver mineral, collected from accessible underground vein exposures on Level 5 assayed up to 794.02 grams/tonne (g/t) gold and 642.33 g/t silver, across vein widths up to 0.5 metres (or 264.68 g/t gold and 214.11 g/t silver over a 1.5 metre minimum mining width). A table summarizing the more significant assay results is presented below:

Table 1Engineer Mine Underground Sampling
Select Chip Sample Assay Results – Level 5

Level 5  Sample Location Sample Numbers Sample Type Average Gold Grade (g/t) Average Silver Grade (g/t) Width metres (m)
Engineer Vein 505 Drift 51601, 51602, 51604 Channel 794.02* 642.33 0.50
Above diluted to 1.5m minimum mining width 264.68 214.11 1.50
152208 Channel 4.40 3.10 0.50
Double Decker Vein Underhand Stope 51605, 51607, 51608 Channel 537.69* 298.81 0.48
Above diluted to 1.5m minimum mining width 172.07 95.69 1.50
Boulder Vein 523 Drift 152113 Channel 14.70 1.90 0.50
Shaft Vein 152224 Channel** 32.30 124.00 1.00
67604 Grab+ 860 1,774 N/A
*  Metallic gold assay.
**   Horizontal sample collected on drift wall, subparallel to vein strike.
+   Previously reported grab sample – see BCGold Corp. news release dated February 28, 2008.

Channel sample results demonstrate that pockets of bonanza-grade gold mineralization remain in at least 4 veins on Level 5 at Engineer mine. Discrete, vertical high-grade ore shoots is the principle mode of gold and silver mineralization at Engineer mine.

"Engineer Mine is very unique in terms of gold grade and shoot geometry," states Brian P. Fowler, P.Geo., President and CEO of BCGold Corp. "You are either in exceptional, multi-ounce material or you are in low grade. The old timers drifted on structure and mined on grade. Gold grades exceeding 1,000 oz/ton were not uncommon in select historic underground stopes." 

BCGold Corp. intends to drill test 2 veins between the 5th and 8th Levels of the mine in 2010 from underground, testing the dip extensions of high-grade shoots defined by historic and recent sampling on the Engineer and Double Decker Veins. It is on the 8th Level, along the Double Decker Vein, that historic sampling records indicate a 24.7 metre section averaged 38.0 g/t gold, containing a 10.0 metre interval averaging 84.3 g/t gold, across the width of the drift (Brinker Report, 1927). BCGold Corp. intends to target a number of drill holes in the vicinity of this mineralization in 2010.

Near Term Production Potential

BCGold Corp.'s Engineer Mine Property offers excellent potential for near-term, small-scale gold production from existing underground headings on the formerly producing Engineer, Double Decker and Boulder veins. A successful 2010 drill program that verifies the historic high gold grades reported along the Double Decker Vein on Level 8 could provide the impetus to dewater the lowermost 3 levels of the mine, which have been flooded since the early 1930's. This would provide access for rehabilitation, geological mapping, sampling, exploration and resource definition drilling, bulk sampling and test mining. BCGold Corp. is permitted to dewater the mine and has the ability to process any gold-bearing material on the property by utilizing a fully operational and permitted 25 tonne per day gravity separation mill. The Company would seek a qualified partner to earn into the project with this eventuality in mind.

About the Engineer Mine Property

BCGold Corp. has an option to earn 100% interest in the Engineer Mine Property and has spent more than $1.4 million in exploration since acquiring the property in January, 2007. Previous work included data compilation, camp construction, limited underground rehabilitation, geological mapping and sampling on surface and underground on the Level 5, 3D geological modeling in VULCAN™, resource estimation and diamond drilling along the Shear Zone "A" structure for near-surface low-grade, bulk-tonnage gold mineralization. 

The exploration upside for additional vein-style, high grade gold mineralization at Engineer Mine is considered excellent. There are more than 25 known veins on the property and only 4 have seen limited production and exploration to date. All veins remain open at depth and little exploration has been conducted deeper than 200 metres below surface.

Sampling, Sample Analysis and Quality Control

A total of 78 chip and channel samples were recently collected by BCGold Corp. on 7 accessible vein segments of 4 veins on the main access (5th) level of the Engineer mine. Samples were collected utilizing either a pneumatic circular rock saw, a pneumatic air chisel or by hammer and chisel. Where possible, channel samples were taken across vein structures either on the drift back or floor, at approximately 2.0-2.5 metre spacing and subdivided into vein and wall rock samples accordingly.

Rock samples were prepared and assayed by Eco-Tech Laboratories Ltd., a subsidiary of the global Alex Stewart Group, BC Certified Assayers and an ISO 9001:2000 certified laboratory in Whitehorse, Yukon and Kamloops B.C. Samples were delivered directly by a Company representative with chain of custody documented. Samples were analyzed for gold and silver by fire assay with an atomic absorption finish ("FA-AA") on a 30 gram split. Additional analyses included a 28 element package of major and trace elements by ICP Analysis. Samples analysed by 'metallic gold assay' were pulverized and screened to 140 mesh (106 µm). The +140 mesh fraction was assayed in its entirety and two 30 g subsamples of the -140 mesh fraction were assayed by fire assay. Samples above 5 g/t gold were assayed with a gravimetric finish. The samples analysed with a metallic fire assay were also analysed for 35 elements by ICP-MS.

In addition to the laboratory's internal quality control program, BCGold Corp. implemented a rigorous QA/QC program including the systematic insertion of certified reference materials (standards), duplicate samples and blanks. All standards returned results within acceptable limits for gold and silver. The duplicates and blanks indicated that the analytical results had an acceptable degree of precision and were free from contamination during sample preparation.

Mr. Brian P. Fowler, P.Geo., President and CEO for BCGold Corp and the Qualified Person for the purposes of National Instrument 43-101, has reviewed the technical content of this news release.

About BCGold Corp.

BCGold Corp. (TSX VENTURE:BCG) is a Vancouver-based junior resource company focused on copper and gold exploration in under-explored historic and emerging mining districts in British Columbia and Yukon. BCGold Corp. acquires and develops conceptual, early and mid-stage, exploration opportunities and advances them towards resource development by using internal expertise, engaging preferred joint venture partners, and creating strategic alliances with major exploration and mining companies.

On behalf of the Board of Directors,

Brian P. Fowler, P. Geo., President & CEO

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future payments, expenditures and unit issuances and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of future payments, expenditures and unit issuances and the timing and success of future exploration, development and production activities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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