Barking up the Right Mountain

MATTHEW ZYLSTRA, Northern Securities (11/17/2010)
"The company received drilling permits for 900 drill holes and 193,500 meters for exploration on Barkerville Mountain located in Wells, B.C. The area is ~2,700 hectares and includes the Bonanza Ledge proposed open pit mine. The company is finalizing detailed drill plans for winter 2010-2011 drill programs at the new discovery zone and beneath and along strike of the Bonanza Ledge deposit. The Bonanza Ledge area has been largely unexplored at depth and the new discovery area, ~100 meters away from the proposed open pit, had trenching samples returning up to 618 g/t gold. . . The Bonanza Ledge area showed very promising results in trench sampling, including 8.7 meters of 80.78 g/t, and could extend the area of the Bonanza Ledge deposit.

Barkerville Gold Mines closed the purchase of the Goldstream mill facility, which the company plans to upgrade and relocate in the vicinity of Cow Mountain, near Wells, B.C. Announced a private placement financing of up to 3.85 million shares at $1.30/sh for gross proceeds of up to $5M, with proceeds to be used primarily to advance mining operations at Bonanza Ledge and for additional drilling."

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