Newsletter Signup

News Releases

2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  

$2 Million Exploration Program Recommended for BCGold Corp.’s Engineer Mine Property, British Columbia

pdf read pdf

March 17, 2008 - BCGold Corp. ("BCGold" or the “Company") is pleased to announce that a $2 million surface and underground exploration program has been recommended for the Company’s historic high-grade gold Engineer Mine property. The Company is in receipt of a technical report prepared by Mr. Clive Aspinall, M.Sc., P.Eng., recommending that 5,000 metres of diamond drilling be completed on the Company’s near-surface, bulk-tonnage gold Shear Zone “A” target.

Historic underground chip sampling across Shear Zone “A” supports the premise that this mineralized structure could host a 0.5 million - 2 million ounce, 6-12 g/t gold deposit. This potential quantity is conceptual in nature. There has been insufficient exploration to define a mineral resource on Shear Zone “A” and it is uncertain that further exploration will result in this target being delineated as a mineral resource. Shear Zone “A” has not been systematically explored by diamond drilling.

Mr. Aspinall’s technical report also discusses recommendations for dewatering the existing underground workings to the 6th Level, mine rehabilitation and underground mapping and sampling. Suggested sampling includes a 500 kilogram bulk sample from the high-grade Engineer Vein on the 6th Level.

BCGold is reviewing the technical report and recommendations in the context of on-going studies and 3-dimensional modeling of the Engineer Mine vein system. The Company intends to conduct a staged exploration program at Engineer Mine in 2008. BCGold has an option to earn 100% interest in the Engineer mine property with no underlying royalties.

2007 Exploration Results
In 2007, BCGold completed a $250,000 exploration program on the Engineer Mine property. The field portion of this program encompassed a preliminary environmental review by Golder Associates, a comprehensive geological overview, rock sampling, re-logging of select drill core, and confirmatory underground mapping and sampling of the 5th Level workings. Mr. Clive Aspinall, P.Eng., M.Sc., and a Qualified Person as defined by National Instrument 43-101, performed geological work for the 2007 program on behalf of Aurum Geological Consultants Inc., and has reviewed the technical content of this news release.

BCGold has been actively compiling all available historic mine data and has developed a 3-dimensional model of the Engineer Mine using VULCANTM software and in-house technical expertise. This model will provide the basis for a preliminary resource estimate and will also be used for exploration planning purposes. Images of BCGold’s Engineer Mine VULCANTM model can be viewed on the Company’s website.

The Engineer Mine Property
The Engineer Mine property is situated 32 kilometres west of Atlin, British Columbia and 140 kilometres south of Whitehorse, Yukon. The mine is a historic high-grade gold producer that reached its zenith in the mid-1920s. More than 560 kilograms of gold was produced at a realized grade exceeding 39 g/t Au from high-grade epithermal quartz-carbonate veins on 5 mine levels. All veins remain open at depth and no exploration has been conducted deeper than 200 metres below surface.

About BCGold Corp.

BCGold Corp. (TSX-V: BCG) is a Vancouver-based junior resource company focused on copper and gold exploration in under-explored historic and emerging mining districts in British Columbia and Yukon. BCGold Corp. acquires and develops conceptual, early and mid-stage, exploration opportunities and advances them towards resource development by using internal expertise, engaging preferred joint venture partners, and creating strategic alliances with major exploration and mining companies. Currently, institutional investors hold 29% of the Company's outstanding shares and Kinross Gold Corporation holds 11%.

On behalf of the Board of Directors,
Brian P. Fowler, P. Geo.
President & CEO

Neither 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.

Some statements in this news release contain forward-looking information. 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 of future payments, expenditures and unit issuances and the timing and success of future exploration, development and production activities.

For further information, please contact:
Freeman Smith, P.Geo
Vice President, Corporate Communications
Tel. (604) 646-1583
Fax (604) 642-2411
[email protected]