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Island Mountain Drilling Confirms High Grade Mineralization Within Vein Corridors

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TORONTO, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Barkerville Gold Mines Ltd. (TSXV:BGM) (the "Company" or "Barkerville") is pleased to announce final drilling results from the 50,000-meter 2018 Island Mountain exploration and delineation program at the Company's flagship Cariboo Gold Project. The infill drilling results continue to expand known vein corridors at depth and demonstrate continuity at both Shaft Zone and Mosquito Creek Zone on Island Mountain.

Modelled Vein Corridor Zones
Modelled Vein Corridor Zones



Island Mountain Drilling Plan Map
Island Mountain Drilling Plan Map



Recent highlights include high-grade intersections at Mosquito Creek Zone hole IM-18-146 that assayed 42.61 g/t Au over 7.05 meters at a vertical depth of 130 meters. This intercept is 50 meters down dip from hole IM-18-147 that assayed 11.95 g/t Au over 1.30 meters.  At Shaft Zone, hole IM-18-152 intersected 23.70 g/t Au over 3.85 meters at a vertical depth of 550 meters and includes a sample of 120.50 g/t Au over 0.65 meter. IM-18-152 is one of the deepest mineralized intercepts to date. Detailed drilling results are presented in the table below. A drill hole location plan map is presented at the end of this release. The Company's 3D  deposit model with assay highlights is located here

Selected Drilling Highlights:

  • IM-18-130: 20.27 g/t Au over 4.20 meters
  • IM-18-137: 27.66 g/t Au over 2.30 meters
  • IM-18-144: 21.27 g/t Au over 4.35 meters
  • IM-18-146: 42.61 g/t Au over 7.05 meters
  • IM-18-148: 12.44 g/t Au over 6.55 meters
  • IM-18-150: 15.27 g/t Au over 4.00 meters
  • IM-18-151: 79.01 g/t Au over 1.70 meters
  • IM-18-151: 12.42 g/t Au over 3.75 meters
  • IM-18-152: 23.70 g/t Au over 3.85 meters
  • IM-18-154: 17.96 g/t Au over 4.40 meters
  • IM-18-156: 38.50 g/t Au over 2.10 meters
  • IM-18-160: 20.46 g/t Au over 3.95 meters


Infill Program on Island Mountain Successful in Delineation Vein Corridors and Expansion at Depth

The intervals noted above were intersected in holes from both Shaft Zone and Mosquito Creek Zone on Island Mountain. The holes were designed to infill and expand mineralized vein corridors. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike.  These corridors have been defined from surface to a vertical depth of up to 600 meters and remain open for expansion at depth and down plunge. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

The Company is currently exploring and delineating vein corridors with six drill rigs on Cow Mountain. Results from these holes will become available in the coming weeks.

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company's Project Geologists, Kyle Orr and Felipe Castaneda. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged.  The remaining drill core is subsequently stored on site at the Company's secure facility in Wells, BC.  Numbered security tags are applied to lab shipments for chain of custody requirements.  The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company's Qualified Person, Maggie Layman, P.Geo, Vice President Exploration.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

For further information on Barkerville Gold Mines Ltd. please contact:

Chris Lodder
President & Chief Executive Officer
155 University Avenue, Suite 1440
Toronto, Ontario, Canada
clodder@barkervillegold.com

About Barkerville Gold Mines Ltd.

The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville's Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company's Brownfield's exploration team is focused on developing and delineating a mineable resource within the 7 kilometers of principle project area located near the town of Wells, British Columbia.  The Company's Greenfield's team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration.  The operation's team is focused on developing and mining the Bonanza Ledge and BC Vein deposits on Barkerville Mountain.  This operation allows the company to generate near term cash flow, train a local work force, keeps the present mining permit active, and de-risk's the project through staged production growth.  Processing of material from these deposits is processed at the QR mill.  QR is a fully owned, permitted mill and tailings facility, located approximately 110 kilometres away from Wells, and can be accessed by an all-season road.

Cautionary Statement on Forward -Looking Information
Neither the TSX Venture Exchange (‘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 release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


Table 1: Length weighted gold composites from Island Mountain

HOLE ID     FROM     TO     CORE
  LENGTH
  (M)
    AU (G/T)   ZONE
IM-18-126   64.95   67.35   2.40   19.11   Shaft
  Including 64.95   66.30   1.35   29.40    
  And 66.30   66.80   0.50   9.80    
    83.00   85.10   2.10   27.32    
  Including 83.00   83.60   0.60   34.60    
  And 83.60   84.50   0.90   37.80    
    176.95   179.20   2.25   36.54    
  Including 177.45   178.70   1.25   61.10    
    190.10   193.05   2.95   14.07    
  Including 190.10   190.85   0.75   42.50    
    400.75   402.10   1.35   12.90    
    406.85   407.50   0.65   16.80    
IM-18-127   25.00   25.70   0.70   4.40   Shaft
    32.65   35.20   2.55   20.10    
    50.50   51.40   0.90   7.68    
    52.70   53.20   0.50   3.94    
    436.40   437.50   1.10   5.44    
IM-18-128   254.75   255.30   0.55   4.94   Shaft
IM-18-129   42.00   42.50   0.50   15.55    
    55.40   56.20   0.80   77.10    
    77.30   78.90   1.60   5.98    
  Including 77.30   78.15   0.85   9.96    
    126.65   127.35   0.70   9.83    
    139.35   139.85   0.50   5.67    
    140.35   140.85   0.50   4.32    
    141.35   141.85   0.50   5.25    
IM-18-130   166.20   166.70   0.50   20.60   Shaft
    211.50   212.45   0.95   13.50    
    355.00   357.50   2.50   5.25    
  Including 355.50   356.00   0.50   12.15    
    371.50   375.00   3.50   10.73    
  Including 371.50   373.00   1.50   20.90    
  And 374.50   375.00   0.50   8.35    
    430.80   432.00   1.20   30.60    
    450.80   455.00   4.20   20.27    
  Including 452.40   453.10   0.70   42.30    
  And 454.15   455.00   0.85   34.90    
    492.00   493.00   1.00   6.40    
    493.80   497.60   3.80   16.09    
  Including 494.40   495.40   1.00   50.40    
  And 496.85   497.60   0.75   8.91    
IM-18-131   41.20   42.00   0.80   9.28   Shaft
    95.50   96.10   0.60   6.45    
    100.85   108.00   7.15   4.07    
  Including 101.50   102.00   0.50   11.35    
  And 105.05   106.35   1.30   9.17    
  And 107.50   108.00   0.50   10.15    
    161.10   162.00   0.90   4.90    
    165.25   166.00   0.75   5.97    
    172.30   173.30   1.00   41.30    
    179.65   180.50   0.85   6.02    
IM-18-132 No Significant Assays             Shaft
IM-18-133   11.70   12.20   0.50   10.05   Shaft
    112.50   113.05   0.55   6.41    
    257.00   258.00   1.00   34.20    
    268.05   270.25   2.20   11.45    
  Including 268.05   269.40   1.35   15.55    
    293.90   295.70   1.80   7.66    
  Including 294.85   295.70   0.85   11.30    
IM-18-134   103.25   103.75   0.50   4.90   Shaft
    121.30   121.80   0.50   7.84    
    177.25   179.70   2.45   4.86    
  Including 177.75   178.50   0.75   7.97    
IM-18-135   15.00   15.60   0.60   22.50   Shaft
    167.70   169.85   2.15   20.77    
  Including 167.70   168.30   0.60   29.90    
  And 169.00   169.85   0.85   30.90    
    211.50   213.65   2.15   23.66    
  Including 211.50   212.25   0.75   54.50    
IM-18-136   13.80   16.05   2.25   6.13   Shaft
  Including 14.30   14.90   0.60   7.87    
  And 15.40   16.05   0.65   9.26    
    89.80   90.30   0.50   10.20    
    112.55   114.45   1.90   4.62    
    159.55   160.05   0.50   10.15    
    172.20   173.10   0.90   5.25    
    187.50   188.25   0.75   34.70    
    220.55   221.20   0.65   10.70    
    342.00   343.50   1.50   41.92    
  Including 342.00   342.50   0.50   120.00    
IM-18-137   13.60   14.65   1.05   33.93   Shaft
  Including 14.10   14.65   0.55   62.20    
    79.45   79.95   0.50   17.30    
    130.10   131.40   1.30   35.59    
  Including 130.10   130.60   0.50   73.10    
    307.80   308.50   0.70   26.20    
    312.70   314.00   1.30   7.26    
    318.80   319.30   0.50   6.47    
    321.20   322.00   0.80   4.24    
    344.20   346.50   2.30   27.66    
  Including 344.20   345.30   1.10   34.60    
IM-18-138   18.75   19.55   0.80   3.88   Shaft
    106.60   107.10   0.50   127.50    
    140.35   141.75   1.40   17.61    
  Including 141.00   141.75   0.75   25.20    
    164.85   165.35   0.50   9.38    
    173.10   174.05   0.95   3.92    
    197.35   199.80   2.45   18.56    
  Including 197.35   198.50   1.15   33.90    
  And 199.20   199.80   0.60   10.20    
    207.10   208.00   0.90   4.32    
    208.75   209.75   1.00   26.30    
    231.25   233.75   2.50   12.28    
  Including 231.25   232.05   0.80   21.80    
  And 232.80   233.75   0.95   13.95    
IM-18-139   26.50   27.00   0.50   14.80   Shaft
    37.75   38.25   0.50   5.68    
    92.25   92.75   0.50   5.34    
    120.00   120.50   0.50   14.55    
IM-18-140   30.80   33.60   2.80   6.31   Shaft
  Including 32.15   33.10   0.95   10.40    
    173.80   176.00   2.20   5.40    
  Including 175.00   176.00   1.00   7.33    
    307.00   310.10   3.10   5.68    
  Including 307.90   308.80   0.90   14.05    
IM-18-141   152.75   153.85   1.10   5.84   Shaft
    161.75   163.00   1.25   4.01    
    263.50   264.00   0.50   23.20    
IM-18-142   279.50   280.20   0.70   8.13   Shaft
    283.50   285.20   1.70   6.61    
  Including 283.50   284.00   0.50   11.00    
  And 284.70   285.20   0.50   8.97    
    348.80   349.40   0.60   10.35    
    356.90   360.00   3.10   15.05    
    356.90   357.40   0.50   7.43    
    358.10   358.75   0.65   62.20    
IM-18-143   136.25   137.25   1.00   11.10   Shaft
IM-18-144   27.85   32.20   4.35   21.27   Shaft
  Including 27.85   29.00   1.15   27.40    
  And 29.00   30.20   1.20   11.15    
  And 30.20   31.60   1.40   26.80    
  And 31.60   32.20   0.60   16.85    
IM-18-145   58.00   61.50   3.50   5.71   Mosquito Creek
  Including 58.00   59.00   1.00   7.47    
  And 60.00   61.00   1.00   6.32    
  And 61.00   61.50   0.50   8.28    
    70.00   71.50   1.50   6.71    
IM-18-146   150.85   157.90   7.05   42.61   Mosquito Creek
  Including 151.40   152.00   0.60   256.00    
  And 152.00   153.15   1.15   15.80    
  And 153.15   153.70   0.55   10.45    
  And 154.20   155.20   1.00   11.50    
  And 155.20   155.80   0.60   21.70    
  And 155.80   156.70   0.90   98.60    
IM-18-147   104.70   106.00   1.30   11.95   Mosquito Creek
    109.00   111.60   2.60   4.59    
  Including 109.00   110.00   1.00   6.47    
IM-18-148   25.55   27.60   2.05   34.50   Shaft
  Including 26.55   27.60   1.05   60.30    
    134.90   141.45   6.55   12.44    
  Including 134.90   136.05   1.15   16.20    
  And 139.20   139.70   0.50   45.60    
  And 140.35   141.45   1.10   26.10    
    360.00   361.00   1.00   468.00    
    439.30   442.50   3.20   6.79    
  Including 440.70   441.70   1.00   9.55    
  And 441.70   442.50   0.80   11.10    
IM-18-149   53.40   54.10   0.70   36.40   Shaft
    115.15   117.75   2.60   18.25    
  Including 115.15   115.85   0.70   26.40    
  And 115.85   116.55   0.70   21.10    
  And 117.25   117.75   0.50   26.70    
    172.15   173.20   1.05   6.37    
IM-18-150   135.50   136.15   0.65   7.14   Shaft
    196.40   200.40   4.00   15.27    
  Including 197.20   198.00   0.80   19.00    
  And 198.65   199.20   0.55   20.80    
  And 199.20   199.90   0.70   32.90    
    373.00   373.75   0.75   7.78    
IM-18-151   81.25   81.75   0.50   5.95   Shaft
    101.15   102.85   1.70   79.01    
  Including 101.15   101.85   0.70   147.50    
  And 101.85   102.35   0.50   59.20    
    495.60   497.00   1.40   13.21    
  Including 496.30   497.00   0.70   16.45    
    555.50   556.00   0.50   4.22    
    573.10   574.65   1.55   14.69    
  Including 573.10   573.70   0.60   31.50    
    604.50   608.25   3.75   12.42    
  Including 604.50   605.00   0.50   12.35    
  And 607.65   608.25   0.60   58.80    
    621.60   622.20   0.60   20.30    
    646.70   647.60   0.90   14.90    
    671.90   672.40   0.50   7.22    
    682.55   683.15   0.60   7.20    
    684.15   684.65   0.50   5.16    
    692.55   693.05   0.50   5.96    
IM-18-152   154.00   155.00   1.00   5.03   Shaft
    358.00   358.50   0.50   12.30    
    462.00   463.25   1.25   19.80    
    472.00   472.50   0.50   5.82    
    475.50   476.00   0.50   5.06    
    510.00   513.00   3.00   4.69    
  Including 512.50   513.00   0.50   7.67    
    561.30   564.00   2.70   5.59    
    570.00   570.50   0.50   25.50    
    572.50   573.00   0.50   20.30    
    581.30   582.00   0.70   62.30    
    585.00   586.20   1.20   8.50    
    588.00   590.50   2.50   3.57    
    628.00   628.80   0.80   8.99    
    657.20   657.70   0.50   8.02    
    667.55   671.40   3.85   23.70    
  Including 667.55   668.20   0.65   120.50    
  And 668.20   669.00   0.80   6.89    
  And 670.60   671.40   0.80   8.14    
    691.60   692.40   0.80   5.81    
IM-18-153   91.20   91.70   0.50   6.74   Shaft
    138.60   139.35   0.75   23.20    
IM-18-154   97.60   98.60   1.00   8.26   Shaft
    151.40   155.45   4.05   10.42    
  Including 151.40   152.25   0.85   14.05    
  And 154.95   155.45   0.50   45.40    
    162.65   163.40   0.75   6.03    
    165.00   169.40   4.40   17.96    
  Including 165.00   165.50   0.50   7.17    
  And 165.50   166.00   0.50   12.30    
  And 166.00   166.50   0.50   40.40    
  And 166.50   167.15   0.65   28.20    
  And 167.15   167.90   0.75   8.47    
  And 167.90   168.85   0.95   23.80    
  And 168.85   169.40   0.55   3.26    
    174.90   176.25   1.35   50.80    
IM-18-155   150.75   152.25   1.50   6.32   Mosquito Creek
    165.50   166.75   1.25   8.89    
IM-18-156   86.20   88.30   2.10   38.50   Shaft
  Including 87.30   88.30   1.00   68.30    
    153.35   154.25   0.90   6.89    
    215.10   215.60   0.50   5.91    
IM-18-157   41.40   42.15   0.75   10.10   Shaft
    104.00   104.50   0.50   4.52    
    109.00   109.50   0.50   8.10    
    146.40   146.90   0.50   4.77    
    182.30   182.80   0.50   125.50    
    186.50   187.50   1.00   29.60    
    192.50   193.50   1.00   4.17    
    194.65   195.15   0.50   31.10    
    214.80   216.50   1.70   10.45    
  Including 215.40   216.50   1.10   12.05    
IM-18-158   227.65   229.45   1.80   5.28   Mosquito Creek
    227.65   228.15   0.50   7.76    
    250.50   251.00   0.50   4.78    
IM-18-159   107.00   107.60   0.60   4.74   Mosquito Creek
    126.50   127.70   1.20   17.60    
IM-18-160   318.55   322.10   3.55   6.08    Shaft
  Including 320.65   322.10   1.45   12.25    
    414.95   415.50   0.55   6.32    
    416.55   420.50   3.95   20.46    
  Including 416.55   417.10   0.55   20.80    
  And 417.85   418.90   1.05   51.50    
  And 418.90   419.75   0.85   9.13    
  And 419.75   420.50   0.75   10.05    
IM-18-161 No Significant Assays             Shaft

True widths are estimated to be 50 to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

Table 2: Drillhole Collar Orientations:

HOLE ID AZIMUTH            DIP  
IM-18-126 134   -60  
IM-18-127 132   -62  
IM-18-128 120   -65  
IM-18-129 155   -61  
IM-18-130 131   -62  
IM-18-131 131   -54  
IM-18-132 134   -62  
IM-18-133 143   -58  
IM-18-134 130   -56  
IM-18-135 125   -56  
IM-18-136 142   -59  
IM-18-137 147   -56  
IM-18-138 141   -44  
IM-18-139 130   -48  
IM-18-140 150   -63  
IM-18-141 133   -62  
IM-18-142 136   -65  
IM-18-143 143   -63  
IM-18-144 132   -63  
IM-18-145 125   -42  
IM-18-146 132   -61  
IM-18-147 133   -54  
IM-18-148 127   -56  
IM-18-149 142   -57  
IM-18-150 147   -50  
IM-18-151 135   -58  
IM-18-152 131   -56  
IM-18-153 146   -63  
IM-18-154 125   -65  
IM-18-155 136   -47  
IM-18-156 165   -53  
IM-18-157 136   -47  
IM-18-158 314   -46  
IM-18-159 314   -60  
IM-18-160 139   -58  
IM-18-161 133   -59  

Images accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/e4842c40-4e40-4262-8734-8d6bdb6c2184
http://www.globenewswire.com/NewsRoom/AttachmentNg/3a4fdb2d-e0a8-452d-9cc5-35c142f0db01

BGM2018LOGO_RGB.jpg

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