BGM Barkerville Gold Mines Ltd

DRILLING INTERSECTS 19.3 G/T OVER 6.3 METERS 47.5 METERS FROM SURFACE

TORONTO, April 23, 2019 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM. the "Company" or "BGM") is pleased to announce the new drilling results from its ongoing Barkerville Mountain exploration program at the Company's flagship Cariboo Gold Project in central British Columbia.

In January 2019 the Company initiated diamond drilling with four diamond drill rigs on Barkerville Mountain. The ongoing 25,000-meter Phase 1 exploratory drill program is successfully identifying new mineralized vein corridors analogous to the vein corridors on Cow and Island Mountains. The apparent strike length for this new system on Barkerville Mountain is 1.5 kilometers, outlined from the Company's detailed lithological and structural mapping programs conducted over the last two years (see BGM News Release January 17, 2019). Significant gold values are present in all 14 of the initial holes.

These drill results demonstrate that the mineralized sandstone horizon which hosts the Mosquito, Shaft, Valley and Cow Resources on Cow and Island Mountains, extends vein corridor style mineralization an additional 2.5 kilometers to the south east and is still open.  It also should be noted that this zone is located 500 meters from existing underground mine infrastructure at the permitted Bonanza Ledge mine.

Select Drilling Highlights:

• BM-19-003: 7.88 g/t Au over 2.00 meters including 25.5 g/t Au over 0.60 meters
• BM-19-003: 102.0 g/t Au over 0.50 meters
• BM-19-004: 5.71 g/t Au over 2.60 meters including 22.8 g/t Au over 0.60 meters
• BM-19-005:19.30 g/t Au over 6.30 meters including 69.40 g/t Au over 0.50 meter
• BM-19-009: 9.86 g/t Au over 2.45 meters including 21.9 g/t Au over 1.0 meter
• BM-19-011: 54.6 g/t Au over 0.5 meters
• BM-19-013: 12.23 g/t Au over 2.80 meters including 33.60 g/t Au over 0.50 meter
• BM-19-013: 40.10 g/t Au over 0.80 meter

True widths are estimated to be 50 to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

A complete table of assay highlights for BM-19-001 to BM-19-014 is present below. The Shaft Zone 3D deposit model with assay highlights is located on the Company's website:

Barkerville Gold Mines Ltd. 3D Deposit Model 

Mineralized vein corridors on the Cariboo Gold Project are overall sub-vertical dip and northeast strike.  Vein corridors are defined as a high-density network of mineralized quartz veins within the F3 fold axis local to the sandstone horizons. Gold grades are intimately associated with vein-hosted pyrite, and intensely silicified wall rock haloes in close proximity to the veins corridors.

Chris Lodder, President and CEO, comments, "again these drill results demonstrate the high probability to add significant quality ounces along strike and near surface which shows the world class nature of this district. Additionally once a resource is defined in this area and adequate economic studies are complete, BGM could accelerate this area to production status after amending the existing Bonanza Ledge mine permit."

Qualified Persons

As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged.  The remaining drill core is subsequently stored on site at the Company's secure facility in Wells, BC.  Numbered security tags are applied to lab shipments for chain of custody requirements.  The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

About Barkerville Gold Mines Ltd.

The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville's Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company's Brownfield's exploration team is focused on upgrading and expanding the May 2018 43-101 compliant resource within the 8 kilometers of principle project area located near the town of Wells, British Columbia.  The Company's Greenfield's team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration.  The operation's team is focused on completing required studies in order to pemit underground mining on Cow and Island Mountains.

Cautionary Statement on Forward -Looking Information
Neither the TSX Venture Exchange ('TSXV') nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Table 1: Length Weighted Gold Composites

Table 2: Drillhole Collar Orientations:

SOURCE Barkerville Gold Mines Ltd.