Barkerville Gold Mines Reports Metallic Screen Fire Assay Results of Seven Diamond Drill Holes Conducted on Cow Mt. in 2011, Including 57.4 feet of 3.057 oz/t Gold


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TSX:BGM / PK:BGMZF
12/16/2013 [ACCESSWIRE]

Vancouver, BC -- Barkerville Gold Mines Ltd. (TSXV: BGM) ("Barkerville" or the "Company") announced today results from its complete hole metallic screen fire assay program from seven diamond drill holes conducted on Cow Mt. in 2011. As recommended in the Company's NI 43-101 Technical Report dated December 31, 2012 (the "Technical Report", see News Release dated June 18, 2013) and mentioned in the Company's news release dated December 9, 2013, all reject samples with standard fire assays completed in 2011 and infill core samples collected in 2013 have been sent to the assay lab for 500-1,000 gram metallic screen fire assaying.

Results from the first seven complete drill holes have been received thus far and significant intercepts are listed in Table 1. Highlights include:

CM11-25B

-17.5 meters (57.4 feet) of 104.8 g/T (3.057 oz/t) gold between 105.2 and 122.7 meters (345.0 and 402.4 feet)

-including 6.4 meters (21.0 feet) of 280.5 g/T (8.181 oz/t) gold between 114.3 and 120.7 meters (375.0 and 396.0 feet)

CM11-27

-17.4 meters (57.0 feet) of 25.71 g/T (0.750 oz/t) gold between 78.9 and 96.3 meters (259.0 and 316.0 feet)

-including 2.1 meters (7.0 feet) of 206.2 g/T (6.014 oz/t) gold between 78.9 and 81.1 meters (259.0 and 266.0 feet)

CM11-31

-4.0 meters (13.1 feet) of 11.74 g/T (0.342 oz/t) gold between 42.7 and 46.7 meters (140.1 and 153.2 feet)

CM11-36

-11.0 meters (36.2 feet) of 12.83 g/T (0.374 oz/t) gold between 217.7 and 228.8 meters (714.3 and 750.5 feet)

-including 4.5 meters (14.6 feet) of 15.16 g/T (0.442 oz/t) gold between 217.7 and 222.2 meters (714.3 and 728.9 feet), and

-including 5.5 meters (18.1 feet) of 13.44 g/T (0.392 oz/t) gold between 223.2 and 228.8 meters (732.4 and 750.5 feet)

CM11-38

-4.1 meters (13.6 feet) of 29.82 g/T (0.870 oz/t) gold between 201.7 and 205.9 meters (661.8 and 675.4 feet)

CM11-87

-13.4 meters (44.1 feet) of 15.48 g/T (0.451 oz/t) gold between 229.9 and 243.3 meters (754.1 and 798.2 feet)

-including 6.3 meters (20.7 feet) of 25.62 g/T (0.747 oz/t) gold between 237.0 and 243.3 meters (777.5 and 798.2 feet).


 -----------------------------------------------------------
 |        |       |       |       |       |        |       |
 |---------------------------------------------------------|
 |Table 1. SIGNIFICANT INTERCEPTS OF METALLIC SCREEN       |
 |FIRE ASSAY RESULTS                                       |
 |---------------------------------------------------------|
 |OF BOTH REJECT & INFILL CORE SAMPLES OF DRILL HOLES      |
 |ON COW MOUNTAIIN                                         |
 |---------------------------------------------------------|
 |        |       |       |       |       |        |       |
 |---------------------------------------------------------|
 |HOLE ID |CORE SAMPLING INTERVAL         |METALLIC FIRE   |
 |        |                               |ASSAY           |
 |        |-------------------------------|                |
 |        |From   |To     |WIDTH          |                |
 |        |------------------------------------------------|
 |        |Feet                   |Meter  |Au (g/T)|Au     |
 |        |                       |       |        |(oz./t)|
 |---------------------------------------------------------|
 |CM11-25B|345.0  |402.4  |57.4   |17.5   |104.8   |3.057  |
 |        |------------------------------------------------|
 |        |Including                                       |
 |        |------------------------------------------------|
 |        |352.1  |361.8  |9.7    |3.0    |11.79   |0.344  |
 |        |------------------------------------------------|
 |        |and including                                   |
 |        |------------------------------------------------|
 |        |375.0  |396.0  |21.0   |6.4    |280.5   |8.181  |
 |---------------------------------------------------------|
 |CM11-27 |259.0  |316.0  |57.0   |17.4   |25.71   |0.750  |
 |        |------------------------------------------------|
 |        |Including                                       |
 |        |------------------------------------------------|
 |        |259.0  |266.0  |7.0    |2.1    |206.2   |6.014  |
 |---------------------------------------------------------|
 |CM11-31 |140.1  |153.2  |13.1   |4.0    |11.74   |0.342  |
 |        |------------------------------------------------|
 |        |186.9  |213.3  |26.4   |8.0    |3.17    |0.092  |
 |        |------------------------------------------------|
 |        |Including                                       |
 |        |------------------------------------------------|
 |        |190.5  |201.3  |10.8   |3.3    |7.05    |0.206  |
 |        |------------------------------------------------|
 |        |230.2  |239.5  |9.3    |2.8    |4.41    |0.129  |
 |        |------------------------------------------------|
 |        |510.2  |522.3  |12.1   |3.7    |9.40    |0.274  |
 |---------------------------------------------------------|
 |CM11-34 |317.1  |334.6  |17.5   |5.3    |1.49    |0.043  |
 |---------------------------------------------------------|
 |CM11-36 |374.0  |398.2  |24.2   |7.4    |3.11    |0.091  |
 |        |------------------------------------------------|
 |        |714.3  |750.5  |36.2   |11.0   |12.83   |0.374  |
 |        |------------------------------------------------|
 |        |Including                                       |
 |        |------------------------------------------------|
 |        |714.3  |728.9  |14.6   |4.5    |15.16   |0.442  |
 |        |------------------------------------------------|
 |        |and including                                   |
 |        |------------------------------------------------|
 |        |732.4  |750.5  |18.1   |5.5    |13.44   |0.392  |
 |        |------------------------------------------------|
 |        |and including                                   |
 |        |------------------------------------------------|
 |        |740.0  |750.5  |10.5   |3.2    |20.78   |0.606  |
 |---------------------------------------------------------|
 |CM11-38 |275.6  |312.4  |36.8   |11.2   |5.89    |0.172  |
 |        |------------------------------------------------|
 |        |661.8  |675.4  |13.6   |4.1    |29.82   |0.870  |
 |        |------------------------------------------------|
 |        |951.9  |968.1  |16.2   |4.9    |6.59    |0.192  |
 |---------------------------------------------------------|
 |CM11-87 |96.0   |97.0   |1.0    |0.3    |77.17   |2.251  |
 |        |------------------------------------------------|
 |        |127.3  |138.6  |11.3   |3.4    |5.14    |0.150  |
 |        |------------------------------------------------|
 |        |313.2  |320.6  |7.4    |2.3    |6.64    |0.194  |
 |        |------------------------------------------------|
 |        |739.7  |747.3  |7.6    |2.3    |16.02   |0.467  |
 |        |------------------------------------------------|
 |        |754.1  |798.2  |44.1   |13.4   |15.48   |0.451  |
 |        |------------------------------------------------|
 |        |Including                                       |
 |        |------------------------------------------------|
 |        |777.5  |798.2  |20.7   |6.3    |25.62   |0.747  |
 |        |------------------------------------------------|
 |        |1159.7 |1167.0 |7.3    |2.2    |4.41    |0.129  |
 |---------------------------------------------------------|
 |        |       |       |       |       |        |       |
 |---------------------------------------------------------|
 |Note : uncut and uncapped grade                  |       |
 -----------------------------------------------------------

All intercepts described may not be the true widths. Due to the complexity and mixture of three types of quartz veins; namely, strike, diagonal & orthogonal veins, true widths won't be available until the 3D geological model is updated.

The standard fire assay technique was originally conducted on a relatively small (30 gram) aliquot of sample material that may or may not have been truly representative of the gold content of the sample as a whole. This can particularly be the case if coarse gold or visible gold was present, which is notoriously difficult to homogenize within a sample pulp. The Screen Metallic technique utilized in the Company's Double Assay Program effectively evaluates 500 grams of pulverized material for each sample and was specifically developed by laboratories to measure coarse or visible gold within pulverized sample materials to provide a more representative estimate of overall gold content.

Reject sampling, infill core sampling and core sample cutting and/or assaying representing complete holes from 128 of 239 Cow Mountain drill holes conducted between 2007-2011 continues. The sampling and cutting is expected to be completed in January, 2014. News highlighting additional complete holes from the metallic screen assay program will be published when available.

A reject fraction or sample is generally the coarse crushed portion of a sample that remains after a split of the sample has been removed for fine crushing (pulverizing) and for analysis including fire assay. The coarse crush reject is the unassayed portion of the sample that was not pulverized for analysis and the word reject does not reflect quality but rather that portion of the sample not used to prepare for analysis. It is a common practice that when high grade or coarse gold is found to be present, a metallic screen fire assay is performed on the coarse reject material utilizing higher subsample weight of 500 to 1000 grams of material, as opposed to 30 grams used in a conventional fire assay.

Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ-size drill core was cut/split in two halves using saws at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core is put in a sample bag. After all the samples are placed in the rice bags at the mine site, they are transported by BGM's personnel to a shipping company in Quesnel for trans-shipment to Inspectorate Exploration & Services Ltd. in Richmond, B.C. and ACME Analytical Laboratories Ltd. in Vancouver, B.C., both of which are Bureau Veritas Group companies, for analysis. Sample preparation and geochemical assaying is done at ACME and Inspectorate Labs respectively, following their own internal standards for quality control and verification. The gold assaying method uses a 500 and 1,000 grams metallic screen gold assay. Both ACME and Inspectorate are certified under the Assayers Certification Program of B.C.

The information contained in this news release has been reviewed and approved by the Company's Chief Geologist Jim Yin, Ph.D., P. Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

"J. Frank Callaghan"

J. Frank Callaghan

President and CEO


About Barkerville Gold Mines Ltd.


Since the mid-1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures cover 1,164 km2 along a strike length of 60 km and approximate width of 20 km, including the Cariboo Gold Project, the Bonanza Ledge Gold Project, the Barkerville Mountain and Island Mountain exploration targets and seven past producing hard rock mines. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 km by highway and all-weather road from the Barkerville Gold Camp. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. The Company has completed significant drilling and exploration programs and, together with the historical data, is compiling all information to determine the geologic models and updated technical reports to continue with exploration and development of the Cariboo Gold projects. This news release has been prepared on behalf of the Board of Directors of the Company which takes full responsibility for its contents.


Cautionary Statement on Forward-Looking Information


Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, including the listing and trading of the Company's common shares on the TSXV. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.


The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward- looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, to obtain capital and credit and to protect its property rights.


The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.


THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.


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

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