Much of Canada’s history takes its cue from the gold rushes of the early 20th century. While the everyday business of extracting the shiny metal from the earth offers up little of the romance of those days, the more competent firms are finding their persistence and industry rewarded with lucrative finds.
One such firm is Toronto-based Barkerville Gold Mines Ltd. (TSX-Venture:BGM), which announced Tuesday new drilling results from this year’s Island Mountain exploration and category conversion program at the Company's flagship Cariboo Gold Project in central British Columbia.
New results from 24 recent holes on Island Mountain include 45.94 grams per ton gold (g/t Au) over 5.2 metres including a sample of 399 g/t Au over 0.50 metres in exploration hole IM-19-043 located on the Island Mountain Mosquito Creek deposit and 95 metres down plunge from an existing vein corridor.
BGM says these results help demonstrate continuity of grade and widths within the modeled vein corridors, expansion of mineralization at depth and anomalous mineralization between the vein corridors.
A total of 20,000 metres in 47 holes have been drilled at Shaft Zone and Mosquito Creek on Island Mountain so far this year. The program focused on infill drilling modeled vein corridors and conducting exploration along strike and down dip of existing vein corridors to determine the depth extent of the mineralization.
Shares in BGM triumphed 3.5 cents, or an eye-popping 9.5%, to 41 cents by noon hour Tuesday, on volume of 926,000 shares.
