Barkerville Gold Mines Ltd.
TSX VENTURE : BGM
FRANKFURT : IWUB

Barkerville Gold Mines Ltd.

November 21, 2011 08:30 ET

Barkerville Gold Mines Intercepts 17.6 Meters (57.8 Feet) of 7.75 g/T (0.226 oz/t) Gold on Barkerville Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2011) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") wishes to report assay results received from 14 diamond drill holes (BCV11-11 through 23) drilled on Barkerville Mountain, targeting gold mineralization in the BC Vein.

The Company is drilling on Barkerville Mountain and Cow Mountain 24 hours a day, seven days a week. Drilling is being conducted by four drilling contractors utilizing seven drill rigs, with six drill rigs working on Cow Mountain and one on Barkerville Mountain. Thus far, 131 diamond drill holes (90 on Cow Mountain and 41 on Barkerville Mountain) totaling 23,757 meters (77,942 feet) have been completed, including 13 water monitoring holes and 118 exploration drill holes. The Company has reported assays from 81 drill holes with 50 pending assay results including over 3,000 drill core samples which will be published as they are received.

Highlights are as follows:

  • Drill Hole BCV11-12: 3.8 meters (12.5 feet) of 13.1 g/T (0.383 oz/t) gold between 116.0 and 119.8 meters (380.5 and 393.0 feet)
  • Drill Hole BCV11-13: 17.6 meters (57.8 feet) of 7.75 g/T (0.226 oz/t) gold between 115.8 and 133.4 meters (379.8 and 437.6 feet)
  • Drill Hole BCV11-15B: 16.6 meters (54.6 feet) of 4.21 g/T (0.123 oz/t) gold between 163.7 and 180.3 meters (537.0 and 591.6 feet)
    • including 7.8 meters (25.5 feet) of 8.57 g/T (0.250 oz/t) gold between 168.1 and 175.9 meters (537.0 feet and 591.6 feet)
  • Drill Hole BCV11-18: 2.3 meters (7.4 feet) of 16.6 g/T (0.423 oz/t) gold between 125.1 and 127.3 meters (410.3 and 417.7 feet)
  • Drill Hole BCV11-20: 4.8 meters (15.6 feet) of 9.40 g/T (0.274 oz/t) gold between 125.0 and 129.8 meters (410.2 and 425.8 feet)
  • Drill Hole BCV11-23: 2.3 meters (7.6 feet) of 5.95 g/T (0.173 oz/t) gold between 119.6 and 121.9 meters (392.3 and 399.9 feet)

The true width of the above intercepts varies between 1.8 and 12.2 meters (6.0 and 40.0 feet).

All the samples were analyzed by Eco Tech Lab in Kamloops, BC. Assays include Au fire assay with AA finish, and 28 element ICP.

The BC Vein has been traced for 2.2 km long, 305 meters (1,000 feet) deep and up to 36 meters (120 feet) wide. Since 1999, 210 drill holes have been drilled on and around BC Vein. The Company has been approved to drill over 900 diamond drill holes on Barkerville Mt. including BC Vein. The company is building database of all diamond drill holes on Barkerville, Cow and Island Mountain now. The database will be used to estimate gold resources in the three mountains.

Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ-size drill core was split in two halves using a splitter at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One half of the cores are put in sample bags at the mine site and are then are transported by the Company's personnel to a shipping company in Quesnel, B.C. for trans-shipment to Eco Tech Lab in Kamloops, B.C. Sample preparation and geochemical assaying is done at Eco Tech Lab, following their own internal standards for quality control and verification. The gold assaying method uses a standard fire assay with AA finish. ETL is certified under the Assayers Certification Program of B.C.

Table 1. SIGNIFICANT INERCEPTS OF DRILL HOLES ON BC VEIN ON BARKERVILLE MT.
DDH# FROM TO WIDTH Au Ag
FEET METER g/T oz/t g/T
BCV11-11 242.5 249.8 7.3 2.2 1.87 0.055 N/S
444.4 449.1 4.7 1.4 3.52 0.103 1.2
642.0 647.0 5.0 1.5 7.00 0.204 1.8
696.0 706.5 10.5 3.2 1.67* 0.049* 1.5*
BCV11-12 167.3 172.0 4.7 1.4 3.36 0.098 N/S
276.7 281.5 4.8 1.5 6.90 0.201 N/S
324.3 329.5 5.2 1.6 2.91 0.085 N/S
339.7 346.0 6.3 1.9 1.03 0.030 2.4
380.5 393.0 12.5 3.8 13.1* 0.383* 2.6*
BCV11-13 379.8 437.6 57.8 17.6 7.75* 0.226* 1.7*
866.4 871.7 5.3 1.6 1.82 0.053 N/S
BCV11-14 465.1 471.1 6.0 1.8 3.60 0.105 N/S
BCV11-15 No significant (> & = 1.0 g/T Au) assay
BCV11-15B 501.7 505.3 3.6 1.1 1.29 0.038 N/S
537.0 591.6 54.6 16.6 4.21* 0.123* 39.2*
including
551.5 577.0 25.5 7.8 8.57* 0.250* 78.4*
827.0 831.0 4.0 1.2 1.10 0.032 1.0
837.4 841.0 3.6 1.1 1.21 0.035 N/S
BCV11-16 236.6 247.0 10.4 3.2 1.40 0.041 N/S
418.9 429.8 10.9 3.3 1.07* 0.031* N/S
557.0 562.7 5.7 1.7 2.62* 0.076* N/S
692.6 706.5 13.9 4.2 3.21* 0.094* 2.5*
BCV11-17 188.0 225.0 37.0 11.3 1.06* 0.031* N/S
317.9 318.9 1.0 0.3 2.04 0.059 N/S
380.5 381.5 1.0 0.3 5.80 0.169 N/S
BCV11-18 359.0 392.4 33.4 10.2 1.56* 0.046* N/S
including
361.6 366.0 4.4 1.3 7.41* 0.216* N/S
400.5 419.5 19.0 5.8 1.73* 0.050* N/S
including
410.3 417.7 7.4 2.3 16.55 0.423 N/S
BCV11-19 263.6 265.4 1.8 0.5 1.515 0.044 1.8
288.3 291.2 2.9 0.9 1.335 0.039 N/S
445.0 477.5 32.5 9.9 1.149* 0.034* N/S
BCV11-20 410.2 425.8 15.6 4.8 9.40* 0.274* 2.3*
497.0 509.0 12.0 3.7 1.09* 0.032* N/S
533.0 599.0 66.0 20.1 1.85* 0.054* N/S
BCV11-21 29.8 36.6 6.8 2.1 1.885 0.055 N/S
645.3 664.1 18.8 5.7 1.18* 0.034* N/S
684.0 688.0 4.0 1.2 1.58* 0.046* N/S
720.0 729.5 9.5 2.9 2.07* 0.060* N/S
BCV11-22 126.3 146.7 20.4 6.2 1.47* 0.043* N/S
246.6 247.8 1.2 0.4 1.89 0.055 N/S
318.5 343.0 24.5 7.5 1.29* 0.038* N/S
360.0 361.0 1.0 0.3 2.34 0.068 N/S
387.0 388.5 1.5 0.5 1.38 0.040 N/S
BCV11-23 130.5 133.6 3.1 0.9 2.32 0.068 N/S
339.6 358.1 18.5 5.6 1.00* 0.029* N/S
363.9 367.9 4.0 1.2 1.29* 0.038* N/S
392.3 399.9 7.6 2.3 5.95* 0.173* 1.0*
Note: N/S - no significant assay; * weighted

The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors

J. Frank Callaghan, President and CEO

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.

Neither the 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.

Contact Information

  • Barkerville Gold Mines Ltd.
    J. Frank Callaghan
    President and CEO
    (604) 669-6463 or Toll Free: 1-800 663-9688
    (604) 669-3041 (FAX)
    www.barkervillegold.com