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Re: News - Thursday, April 07, 2011
Barkerville Provides Update on the Permitting of the Bonanza
Ledge Mine
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Vancouver, BC -- Barkerville Gold Mines Ltd. (TSXV:BGM) (the "Company")
wishes to report a corporate update on the Company's Bonanza Ledge
project located near the town of Wells in central British Columbia.
The Bonanza Ledge proposed open pit gold mine is a high-grade,
disseminated gold deposit currently in the process of a provincial
Mines Act Application to commence production. The Application is for a
70,000-tonne/year open pit operation that will augment the current gold
production at the Company's QR Mill, a 900 tonne per day facility
currently producing and shipping gold dor� bars from it's underground
mining operations at the QR Mine. The Application has passed through
the government's 60-day formal review period.
The following has been quoted from a status update letter sent to the
Company by the Chief Inspector's office:
"The South Central Mine Development Review Committee (SCMDRC) completed
their technical review of the Bonanza Ledge Mines Act permit
application between November 29, 2010 and January 28, 2011, within the
mandated 60 day time period pursuant to the Health Safety Reclamation
Code for Mines in BC. On Feb 2, 2011 the chair of the SCMDRC made
recommendations in a report to the Chief Inspector of Mines with
respect to the adequacy of the application, the adequacy of BGM's
public consultation program and First Nations considerations.
The chairs conclusion was the technical review to date did not identify
any significant strategic issues that could not be further
satisfactorily addressed either through additional information or
through permit conditions in either the Mines Act permit (MNRO),
Environmental Management Act Effluent Permit (MOE) or other statutory
approval, permit or authorization."
The Company is continuing to work closely with the office of the Chief
Inspector who issues the Mines Act permit through the final stages of
the permitting process. The Company will issue a news release upon the
completion of the permitting process.
Work continues on completing a 4-kilometer haul road from the proposed
Bonanza Ledge pit to the provincial Highway 26. The Company received
approval for the road permit and commenced building the on-site haul
road in January 2011 (see news release January 12, 2011). Logging of
the entire stretch of roadway is now done with approximately 1.2 km of
road left to be constructed. Once complete, the haul road will then be
topped with crushed rock. It is anticipated that the road will be
ready by June 2011. At the same time, the Company and its engineering
contractors are completing work to ready the QR Mill facility to accept
Bonanza Ledge ore.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and
development of gold projects in the Cariboo Mining District in central
B.C. The Company's mineral tenures now cover over 1,225 square
kilometers, encompassing seven past producing hard rock mines and three
NI 43-101 gold deposits, including the QR Mine & Mill. 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 kilometers
by highway and all-weather road from the Barkerville Gold Camp. Mining
operations commenced at QR in February 2010 and the Company began
pouring dor� gold in September 2010. In November 2010, the Company
acquired a second permitted mill currently on care and maintenance in
Revelstoke, B.C. for relocation to the Barkerville Gold Camp near
Wells, B.C. and upgrade it to a 2,000-tonne/day facility subject to
government approvals. In November 2010 the Company and the Lhtako Dene
First Nation also signed a Project Agreement in relation to its Bonanza
Ledge and Cariboo Gold Projects. The Company has not hedged any of its
future gold production.
On behalf of the Board of Directors,
"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
Tel: (604) 669 - 6463
This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events and conditions
and therefore involve inherent risks and uncertainties. These
statements are only predictions and involve known and unknown risks,
uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements. While these forward-looking statements,
and any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our
industry, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other
future performance suggested herein. Except as required by applicable
law, the Company does not intend to update any of the forward-looking
statements to conform these statements to actual results. All phases of
the Company's operations are subject to environmental regulation and
governmental approval and permits and there can be no assurance that
the Company will obtain all the requisite permits for future
development. Mining is an inherently risky business with large capital
expenditures and cyclical metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2011 BARKERVILLE GOLD MINES LTD. (BGM) All rights
reserved. For more information visit our website at
http://www.barkervillegold.com or send mailto:info@barkervillegold.com
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Barker Minerals Ltd
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EXPLORATION STAGE |
CODE : BML.V |
ISIN : CA06762P1099 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Barker is a gold and copper exploration company based in Canada. Barker holds various exploration projects in Canada. Its main exploration properties are KANGAROO, FRANK CREEK, CARIBOO PROPERTIES and ACE PROPERTY in Canada. Barker is listed in Canada and in United States of America. Its market capitalisation is CA$ 899 288 as of today (US$ 667 623, € 596 521). Its stock quote reached its highest recent level on April 13, 2007 at CA$ 0.50, and its lowest recent point on June 28, 2019 at CA$ 0.01. Barker has 179 857 516 shares outstanding. |