Barkerville Gold Mines Ltd. - 2017 Corporate Update and 2018 Objectives
Gold Project Brownfield Exploration Barkerville’s 2017 Exploration program was focused on its flagship Cariboo Gold Project located within Central British Columbia. The company completed a 157,000 meter drilling campaign focused on resource delineation and expansion drilling on Cow and Island Mountain, with the majority focused on the Valley Zone and Shaft Zone. Significant high-grade intercepts confirmed the mineralization model, grade continuity, and geometries.
Some significant recent drill intercepts are as follows: 72.23g/t over 12.05m, 53.26g/t over 11.55m, 18.84g/t over 30.85, 14.69 g/t over 28.5m, and 20.53 g/t over 11.6m.
Barkerville was able to identify and wire frame 145 vein corridors which will be the base for the resource estimate in 2018.Greenfield Exploration Barkerville’s greenfield exploration team was tasked with developing targets to the
southeast of the central project area along the 67 kilometers of strike
within the company’s Cariboo Gold Project.
Systematic, scientific exploration was able to identify 130 new targets through detailed mapping, soil, and rock sampling. Eleven of these are now at the drill
ready stage.
Operations (Bonanza Ledge) Portal and underground development began in the second semester of 2017 at the Bonanza Ledge mine. Barkerville completed 470 meters of underground development in 2017. Approximately 7000 tonnes of both low and high-grade development material was processed at the company’s 100% owned QR mill for commissioning and training purposes.
The Mill will be restarted in March 2018 when a sufficient stockpile is on site at QR. 2018 Objectives In 2018 the company is planning to undertake several actions which are anticipated to be substantial catalysts for Barkerville.
We plan to publish an initial resource for Cow Mountain, Island Mountain and Valley Zones as well as an update for Barkerville Mountain,. Barkerville will
initiate drill testing of regional targets to confirm the mineralization
model and district scale upside.
Bonanza Ledge anticipates finishing development in Q1 with stope production to follow. The company will also start its underground access, permit depending, in order to explore for increased underground resources at Cow and Island Mountain targets. This should reduce future drilling cost and improve our understanding of the mineralization. This underground access will also allow for trial stoping and bulk sampling that will supply valuable data related to rock
mechanics, dilution, operating costs and processing.