Vancouver-based Barkerville Gold Mines Ltd. says it has hired a consultant and completed new drilling at its Cow Mountain deposit in a bid to have its cease-trade order lifted.
The BC Securities Commission (BCSC) imposed the order on Barkerville Gold in August for failure to file a compliant technical report to back the company's claims of a massive gold discovery at its Cow Mountain deposit.
In an October 19 update, Barkerville Gold stated that the cease-trade order (CTO) will remain in place "until the company files a technical report acceptable to the BCSC and addresses all technical disclosure concerns."
The company stated that it has engaged Snowden Mining Industry Consultants Pty Ltd. to help the company satisfy the conditions of the CTO. Barkerville Gold also stated that it "continues to have a dialogue with the BCSC in an effort to satisfy [its] concerns."
Barkerville Gold further stated that, as part of the technical review requested by Snowden, the company carried out further drilling at Cow Mountain between September 22 and October 14.
The company said the assay results of the drill holes will be released when available.
In June, Barkerville published an estimate of 10.9 million indicated ounces of high-grade gold. The company quickly drew scrutiny from regulators and market watchers alike, who questioned the methodology used to arrive at the massive estimate.