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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.
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Deposit yields high grades at depth

Staff reporter

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.