EXPLORATION & DEVELOPMENT

Barkerville delves deeper at Cow Mountain

Barkerville Gold Mines (TSXV: BGM) says exploration at Cow Mountain has extended high-grade intercepts continuous to vertical depths of 400m at the deposit in its flagship Cariboo gold project in British Columbia.

Staff reporter
Deposit yields high grades at depth

Deposit yields high grades at depth

Highlights included 0.5m at 346g/t gold from 248.3m and 0.5m at 29.1g/t from 421.25m.

Cow Mountain hosts the historic Cariboo gold quartz mine at the project that spans 1,950km2.

The company had released a maiden resource for Cow Mountain and Island Mountain in May, which took Cariboo's measured and indicated resource to 1.6 million ounces, grading 6.1g/t, and an inferred 2.16Moz. 

Barkerville has started test mining at Cariboo's Bonanza Ledge as it moves to de-risk the project and generate cash-flow.

It reported in September better-than-expected grades of 7.05g/t from Bonanza Ledge and mill recoveries on track at 91.6%.

The company had C$27 million (US$20.5 million) in cash in September according to a recent presentation.

Its shares closed down C1c to 40.5c yesterday, towards the lower end of its 12-month range of 35-78c, capitalising it around $178 million.

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