VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 17, 2014) - Bralorne Gold Mines Ltd. (TSX VENTURE:BPM)(OTCQX:BPMSF)(FRANKFURT:GV7) (the "Company") is pleased to provide the following update on its Bralorne gold project located in the historic mining camp at Gold Bridge, British Columbia.
Mine development is continuing in the BK-3 zone with stope mining and preparation of new mining blocks. A new raise was started from the 3900 west sub-drift with the objective of defining mineralization above the drift to justify development of a new stope. As of March 12, the raise had advanced 21 meters and exposed a banded quartz vein averaging 0.7 metres wide mineralized with pyrite, arsenopyrite, galena, sphalerite and visible gold. These observations are positive and a decision on stope development is pending assay results.
The new raise extends the mineralized zone to the 3900 drift, which was announced in a news release April 16, 2013. The drift encountered a zone described as 63.6 metres in length with an average grade of 15.7 grams gold per tonne over 1.3 metres and 1.2 metre minimum mining width (with assays cut to 103 grams per tonne). The same mineralized shoot extends below the 3900 drift, where drill hole UB12‐015 intersected 409.5 grams gold per tonne over a 2.1 metre core interval as announced in the news release December 17, 2012.
Drifting to the west commenced on the 3800 sub-level to explore the same mineralized zone below drill hole UB12-015.
"We are pleased to discover this new western zone and are looking forward to providing additional information in the near future." - Dr. Mathew Ball, President, Bralorne Gold Mines Ltd.
In January 2013, mill throughput totaled 3133 tonnes at an average of 113 metric tonnes per day of operation. Comparative monthly production figures for January 2014 and January 2013 are presented below.
|Metric Tonnes Milled
|% Mill Availability
|Mill Throughput (metric tonnes / day operated)
|Feed Gradeg/T Au
|Gravity Gold Ounces
|Flotation Con. Metric Tonnes
|Flotation Con. Grade g/T Au
|Flotation Con. Ounces
|Total Recovered Ounces
"Mill throughput was above average, and the main factor contributing to a 25% improvement in recovered ounces of gold compared to January 2013". - Dr. Mathew Ball, President, Bralorne Gold Mines Ltd.
The Company is actively seeking financing to expand mill throughput, underground exploration and development. The new expansion is expected to double production with an increase of mill throughput to 200 tons per day.
Quality Assurance/Quality Control
Gold production is reconciled to gold contained in flotation and gravity concentrates. Flotation concentrate assays are performed at ALS Laboratories in North Vancouver, British Columbia, an accredited independent laboratory with quality monitored by international standards. Check samples are done on composite samples collected by AH Knight and assayed by ALS Laboratories in North Vancouver, British Columbia, and umpire assays are performed by Alex Stuart Limited in Knowsley, England. Gold produced in gravity concentrate is reconciled from settlement assays received from the refiner. Check assays are performed on duplicate samples of gold doré by ALS Laboratories in North Vancouver, BC.
The Company cautions that it has not completed a feasibility study based on mineral reserves. The Company is proceeding with operations based on mineral resources, which are not mineral reserves and do not have demonstrated economic viability. The project therefore has a higher risk of economic or technical failure. The mill is being operated to generate incidental revenue from the sale of gold doré bars and flotation concentrate to offset exploration and development costs. The Company plans to continue milling as resources are developed and will increase the milling rate if and when sufficient resources are defined.
Dr. Mathew Ball, P.Geo., President and Chief Operating Officer of the Company, is the qualified person ("QP") as defined by National Instrument 43‐101, who is responsible for the technical content of this document.
For more information, please visit our website at: www.bralorne.com.
ON BEHALF OF THE BOARD
Mathew Ball, President and Chief Operating Officer
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. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.