Among the highlights, Barkerville intercepted 5.2m at 45.94g/t from 183.9m, including 0.5m at 399g/t, in an exploration hole at Island Mountain's Mosquito Creek deposit.

The company said the latest results demonstrated continuity of grade and widths within the modelled vein corridors, expansion of mineralisation at depth and anomalous mineralisation between the vein corridors.

Barkerville is aiming to release a preliminary economic assessment this half for Cariboo and is targeting construction of a 135,000 ounce per year underground mine by 2022.

The Sean Roosen-chaired explorer had closed a C$20 million (US$15 million) financing in April to progress Cariboo, where test mining in 2018 yielded 122,000 tonnes at 5.98g/t for 21,125 ounces.

Barkerville updated Cariboo's resource in May to a measured and indicated 13.2 million tonnes at 5.6g/t gold for 2.4Moz, and an inferred 12Mt at 5g/t for 1.9Moz.

The drilling results from the historically mined project sent Barkerville shares up more than 9% yesterday to close at C41c.

Its shares have ranged from 30-48c over the past year and the company is capitalised about $231 million (US$176 million).