News Releases
08-Jan-2013
BCGold Corp. Soil Sampling Identifies New Bulk Tonnage Gold Targets at Engineer Mine
read pdfVancouver, British Columbia, January 8, 2013 (TSX-V: BCG) - BCGold Corp. (or the "Company") is pleased to report the results of mobile metal ion (MMI) soil sampling on its 100%-owned historic Engineer Mine and the surrounding 2,104 ha Gold Hill property in northwestern British Columbia. The Company was able to define new bulk-tonnage gold drill-targets with this sampling as well as prove the effectiveness of MMI sampling as a reliable, quick and cost-effective means to define bulk-tonnage gold drill-targets within the glacial drift-covered, “shear-zone” type structures at Engineer Mine.
New Bulk Tonnage Gold Targets at Gold Hill Property
The MMI test lines conducted during reconnaissance prospecting on the Gold Hill property produced two new gold anomalies approximately 2.3 km and 3.5 km north of the historic mine workings. The first MMI gold anomaly ("Shear B North") is 80 m wide, with gold values up to 265 times background values. This anomaly was identified by completing two test lines 180 m apart crossing the northern extent of the Shear Zone "B" structure. This anomaly sits within the 4 km long Shear Zone "B" structure that forms the eastern boundary of the historic mine workings. The anomaly is open along strike.
The second MMI gold anomaly ("Happy Sullivan") is 600 m long and 140 m wide, with gold values up to 260 times background values. This anomaly is associated with a 2.5 km long north trending structure that hosts the Happy Sullivan mineral showing. The structure was previously defined by the Company’s SkyTEM geophysics survey and recent geologic mapping. The anomaly was identified by completing three MMI test lines across the structure and is open along strike in both directions.
MMI Effectively Identifies Bulk Tonnage Gold Mineralization at Engineer Mine
The effectiveness of MMI soil sampling at Engineer Mine was established by running test lines over areas with known “shear zone” type gold mineralization drilled by BCGold Corp. in 2008, and testing newly recognized geological and geophysical structures defined by subsequent exploration work. Test MMI lines were completed near the historic mine workings over mineralized segments of the Shear Zone “A”, Shear Zone “B”, Hub “A” and Hub “B” structures where conventional soil surveys by previous operators (circa. 1987) failed to detect hydrothermal breccia-related gold mineralization. The MMI results positively identified discrete, moderate to strong, coincidental gold, silver, arsenic, antimony and molybdenum anomalies over these structures and demonstrated that MMI can be utilized to identify higher-grade bulk tonnage targets for drill testing.
Of notable interest is that the two lines crossing Hub "A" were 50 metres apart and defined an MMI gold anomaly 90 metres wide with gold values up to 565 times background values. This anomaly is open to the west and along strike. Hub “A” has seen minimal modern-day exploration and follow up work is warranted.
"We are very pleased with our 2012 MMI survey results from the Engineer and Gold Hill properties," states Darren O’Brien, P.Geo., Vice-President of Exploration for BCGold Corp. "We now have a demonstrated and proven means to quickly and cost-effectively define bulk-tonnage gold drill-targetsalong the most prospective segments of the more than 8 km of shear zones that are known to transect
these properties. BCGold Corp. plans to significantly expand MMI coverage of the shear zone structures
and conduct induced polarization (IP) geophysical surveys to further refine targets for drill-testing in
2013."
Please refer to the BCGold Corp. corporate presentation on the Company’s website
(www.bcgoldcorp.com) to view the MMI soil sampling test results and other bulk tonnage exploration
targets
UBC Research Update
Dr. Leo Millonig reports that the University of British Columbia (UBC) and BCGold Corp. collaborative
research project is progressing well. Over 40 thin-section samples from the Engineer Vein, Double
Decker Vein, and Shear Zone “A” have been studied so far (for details see July 9, 2012 news release).
All samples were elevated in gold, silver, arsenic and antimony and displayed multiple phases of
hydrothermal fluid emplacement. The paragenetic sequence of these multiple mineralizing events has
been determined, which will assist in deciphering the complex geologic history of the Engineer Mine gold
system. Mineral composition, fluid inclusion and age-dating studies continue. These studies will help to
understand the depositional controls of the high-grade gold mineralization at Engineer Mine and enhance
future exploration strategies. Dr. Millonig’s final report is scheduled for completion in June 2013.
Quality Control
The 2012 MMI soil sampling field program was conducted by Dumas Consulting, an independent
contractor. Soil samples were submitted to SGS Minerals Services in Toronto, Ontario, an ISO/IEC
17025 accredited laboratory, where they were prepped and analyzed using proprietary MMI-M
methodology. The work program was supervised by Darren O’Brien, P.Geo., Vice President of
Exploration for BCGold Corp. and a Qualified Person as defined by National Instrument 43-101. Mr.
O’Brien has reviewed and approved the technical contents of this news release.
About BCGold Corp.
BCGold Corp. (TSX-V: BCG) is focused on exploration and development of its 100%-owned historic
Engineer Mine and the adjoining Gold Hill properties, situated in northwestern British Columbia. Since
2007, the Company has incurred approximately $3.5 million in expenditures to demonstrate the
exploration upside and near term mining potential of these properties.
BCGold Corp. has generated 27 early to mid-stage gold and copper-gold properties in British Columbia
and Yukon that it will continue to advance through sourcing preferred JV partners.
BCGold Corp. is unique in that it exposes investors to the prospect of discoveries while being positioned
to offset exploration costs by monetizing / forward selling gold concentrate recovered from on-site
processing of high-grade gold bulk samples at Engineer Mine. The Company’s attempts to source up to
$5 million in capital for continued development, bulk-sampling and on-site milling of high-grade gold
material at Engineer Mine, either by way of a convertible debenture, forward gold sale, or royalty
agreement, are on-going.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo.
President & CEO
For further information please contact:
Marla Lede
Manager, Corporate Communications
Tel: 604-697-2412
Email: [email protected]
Some statements in this news release contain forward-looking information or forward-looking statements. These statements include, but are not limited to, statements with respect to future expenditures and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration, development and production activities. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.