Barkerville Gold Mines Ltd. resumes trading and ramps up gold production
With a recent injection of $1.5 million from Sprott Resource Lending Corp., and a further gold loan facility of $15 million from Eric Sprott coupled with the resumption of trading, we wanted to review Barkerville Gold Mines Ltd. (BGM: TSX-V, BGMZF: OTCBB)‘s overall status for our readers/viewers.
The Company’s mineral tenures cover 1,164 km2 along a strike length of 60 km with an approximate width of 20 km.
The Cariboo Gold Project includes the Bonanza Ledge Gold Project, the Barkerville Mountain and Island Mountain exploration targets and seven past producing hard rock mines.
The latest Technical Report authored by Snowden Mining Industry Consultants Inc., APEX Geoscience Ltd. and Geoex Limited and dated Dec. 31, 2012 includes a resource estimate for Cow Mountain of 1.04 million ounces gold indicated and 3.94 million ounces gold inferred with a cut-off of 0.012 oz/t Au.
The Report also included an exploration potential for Island Mountain and Barkerville Mountain with a range of between 9 and 27 million ounces gold with a cut-off range of 0.06 oz/t and 0.15 oz/t Au.
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.
The Company began pouring doré gold in September 2010, continued until December 2011, and resumed in January 2013.
The QR Mill will process material from the stockpiled West Zone area starting Fall 2013 before switching to Bonanza Ledge production to continue into 2014.
The Company is currently focused on increasing the existing resource on Cow and Island Mtns, and anticipate a new Technical Report in the 1st Q of 2014.
Advisory: David O’Brien is involved in the sector, having had over 160 Participants in his International Mining Research Inc. programs of awareness-building at EVENTS, ONLINE and in MEDIA over the past 16 years; many of which he was also producing ad campaigns, marketing support materials and writing articles about the industry through his W.I.T. Marketing, Media & Events agency. O’Brien is therefore not to be considered unbiased, even though he owns no shares in the Company. Do your Due Diligence.
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