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Gold Company's Exploration in British Columbia Yields More Positive Results

Source: Streetwise Reports


April 12, 2018 ( Newswire) Mick Carew, an analyst with Haywood Securities, shared the findings from recent drilling and next steps for this development-stage firm.

In an April 4 research report, Haywood Securities analyst Mick Carew wrote that Barkerville Gold Mines Ltd. (BGM:TSX.V) with its just released final 2017 drill results, "continues to demonstrate continuity and extensions of mineralized vein corridors on Island Mountain and the Valley zone."

Results are from 18 holes at Island Mountain and eight holes in the Valley zone, which is between the Island Mountain and Cow Mountain deposits.

Drill highlights include:

  1. Hole IM-17-249: 9.95 meters (9.95m) grading 48.17 grams per ton (48.17 g/ton) gold from a downhole depth of 538.5m, including 0.6m grading 29.7 g/ton gold, and 0.75m grading 417 g/ton gold from a downhole depth of 543.65m.
  2. Hole CM-17-101: 7.8m grading 13.45 g/ton gold from a downhole depth of 375.1m, including 0.55m grading 43.4 g/ton gold.
  3. Hole CM-17-106: 11.4m grading 12.22 g/ton gold from a downhole depth of 334.1m, including 0.5m grading 186 g/ton gold.

Carew noted that Barkerville continues to drill at Island Mountain, with seven rigs on site currently. An estimated 120,000 meters of drilling are planned for 2018.

A maiden resource is expected in May, for which the company released information about the geological modeling in progress. "It proposes 50 mineralized vein corridors at the Shaft zone and 17 mineralized corridors at the Valley zone with an estimated horizontal width of 3m and a strike length of up to 300m," Carew described. "They have been defined from surface to a vertical depth of 600m and remain open for expansion at depth and downplunge."

As for Barkerville's Bonanza Ledge mine, the start of full production is "imminent," said Carew. The company aims to produce about 150 thousand tons of ore per year from the underground mine.

Haywood Securities has a rating of Buy and a price target of CA$1.60 per share on Barkerville Gold, whose stock is currently trading at around CA$0.66 per share. Thus, the target price reflects a potential return of nearly 150%.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.


Haywood Securities, or certain of its affiliated companies, may from time to time receive a portion of commissions or other fees derived from the trading or financings conducted by other affiliated companies in the covered security. Haywood analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income.

Haywood Securities, Inc., and Haywood Securities (USA) Inc. do have officers in common however, none of those common officers affect or control the ratings given a specific issuer or which issuer will be the subject of Research coverage. In addition, the firm does maintain and enforce written policies and procedures reasonably designed to prevent influence on the activities of affiliated analysts.

Analyst Certification: I, Mick Carew, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures

Of the companies included in the report the following Important Disclosures apply:

Haywood Securities Inc. has reviewed lead projects of this company and a portion of the expenses for this travel have been reimbursed by the issuer.

Haywood Securities Inc. or one of its subsidiaries has managed or co-managed or participated as selling group in a public offering of securities for Barkerville Gold Mines in the last 12 months.

Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a

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