Barkerville Gold Mines trades up 17% after 43-101 reports total potential of 40 to 90 million ounces

Barkerville Gold Mines (BGM:CVE) much anticipated 43-101 technical report, made available late Monday night, shows the total potential of the Island-Cow-Barkerville Mountain Trend containing up 40 to 90 million ounces of gold.

As of 12:42 a.m. PST Barkerville Gold is up 17.46% on the Frankfurt Stock Exchange and is trading at EUR1.143, besting its 52-week-high of EUR1.302.

Discussion about the results have been filling up the boards on Stockwatch.

The author sums up the total potential of the Island-Cow-Barkerville Mountain Trend.

"The total potential of the 4 mile long mineralized trend is 560 to 850 million tons grading from 0.08 to 0.11 ounces per ton with contained gold of 40 to 90 million ounces," writes the George.

Cow Mountain itself has ". . . indicated and inferred resources, ranges from 55 to 85 million tons grading from 0.08 to 0.11 ounces per ton and containing 5 to 8 million ounces of gold, or based upon the capped open pit resource, 55 to 85 million tons containing 3 to 5 million ounces."

The report was prepared by Peter George with Geox.

Excerpt from the potential estimates section>>

14.6.3 Cow Mountain Potential
The current open pit resource to a depth of approximately 1000 feet below surface at Cow Mountain indicates that the open pit potential, based upon uncapped, indicated and inferred resources, ranges from 55 to 85 million tons grading from 0.08 to 0.11 ounces per ton and containing 5 to 8 million ounces of gold, or based upon the capped open pit resource, 55 to 85 million tons containing 3 to 5 million ounces.

Given the dimensions of the open pit resource (approximately 4300 feet long by 750 feet wide, the Author is of the opinion that there is potential to carry on underground bulk mining by ramp access to a depth of an additional 1000 feet below the open pit resource. Therefore, the Author estimates that the total potential for Cow Mountain is open pit potential of 55 to 85 million tons grading from 0.08 to 0.11 ounces per ton and containing 4 to 6.5 million ounces of gold as well as a similar amount of underground potential for a total of 110 to 170 million tons containing 8 to 13 million ounces of gold.

14.6.4 Island Mountain Potential
The geological setting beneath Island Mountain is similar to that of Cow Mountain with the past producing Island Mountain/Aurum and Mosquito Mines as well as mine workings from the Cariboo Gold Quartz that extend from the Cow Mountain area to the northwest beneath the broad valley that separates Island Mountain from Cow Mountain. The Island Mountain area has potential for both the open pit and underground scenario and has twice the strike length of geological setting identical to that of the Cow Mountain scenario, therefore the potential at Island Mountain is estimated to be 220 to 340 million tons grading from 0.08 to 0.11 ounces per ton with contained gold of 16 to 26 million ounces.

14.6.5 Barkerville Mountain Potential
The mineralized geological setting beneath Cow Mountain extends to the southeast across the narrow Lowhee Creek valley into the Barkerville Mountain sector. Lowhee Creek, between Cow Mountain and Barkerville Mountain, was a major placer creek and Williams Creek at the south end of Barkerville Mountain in the historic townsite of Barkerville was the richest placer creek in the Cariboo District. The source for these placers appears to be Cow and Barkerville Mountains. The Barkerville Mountain area has a similar strike length of potential to Island Mountain’s and is estimated to have a similar potential for 220 to 340 million tons grading from 0.08 to 0.11 ounces per ton with contained gold of 16 to 26 million ounces.

14.6.6 Total Potential of the Island-Cow-Barkerville Mountain Trend
The total potential of the 4 mile long mineralized trend is 560 to 850 million tons grading from 0.08 to 0.11 ounces per ton with contained gold of 40 to 90 million ounces. Note, the foregoing estimates of potential quantity and grade are conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the delineation of Mineral Resources”