Barkerville Gold Mines stock rises on new drill results

According to Mining News Pro - Shares of the Vancouver-based gold miner rose by nearly 10% at market open on the news.

Of the 24 holes recently completed on Island Mountain, one yielded 45.94 g/t Au over 5.2 meters including a sample of 399 g/t Au over 0.50 meter. Another hole returned 14.91 g/t Au over 4.40 meters including a sample of 55.90 g/t Au over 0.80 meter.

A total of 20,000 meters in 47 holes have been completed on Island Mountain so far this year.

Barkerville’s Cariboo project covers an area of approximately 1,950 square kilometres along a strike length of 67 kilometres which includes several past-producing placer and hard rock mines.

In May, the company updated the underground resources at Cariboo, which now contains 2.4 million ounces of gold in 13.2 million tonnes grading 5.60 g/t in the measured and indicated category — a 50% increase over the 2018 resource estimate.