Barkerville Releases 10.6 Million Ounce Resource estimate for Gold Quartz Open Pit Project; Shares to Resume Trading at 145 pm ET

By Midnight Trader,  June 29, 2012, 01:20:35 PM EDT

Barkerville Gold Mines Ltd. (BGM.V) announced today a NI 43-101 compliant, indicated resource estimate for the Gold Quartz open pit model on Cow Mountain as well as a NI 43-101 compliant estimation of the geological potential of the 6.4 km Island Mountain, Cow Mountain and Barkerville Mountain trend.

This trend is the central portion of a larger 67 kilometre trend on the Company's 1,118 sq. km property.

The indicated resources for the Gold Quartz open pit model on Cow Mountain are 69,039,000 tons with an average grade of 0.154 ounces gold per ton, or 10,626,100 ounces of contained gold. The geological potential was estimated at between 65 and 90 million ounces of gold.

Geoex Ltd., an independent consultant working on the exploration work, believes the resource "has a reasonable prospect of economic extraction," said Barkerville.

Trading in the company has been halted until 1:45 pm ET.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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