Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Barkerville Gold Mines of Toronto says there are 4.3 million oz. of gold in all categories, according to the latest resource estimate at its Cariboo project near Wells, BC. The estimate includes underground resources for the Cow, Island and Barkerville Mountain deposits.
Measured and indicated resources contain 2.4 million oz. of gold in 13.2 million tonnes grading 5.60 g/t gold. That represents a 50% increase in ounces from the estimate made in 2018.
The inferred resource contains 1.9 million oz. in 12.0 million tonnes grading 5.0 g/t gold.
Barkerville said the estimate incorporates the Cow and Valley zones at Cow Mountain, the Shaft and Mosquito Creek zones on Island Mountain, and the BC vein and Bonanza ledge on Barkerville Mountain. A cut-off grade of 3.0 g/t gold was used for the estimate.
Infill and exploration drilling are ongoing at the Cariboo project.
(This article first appeared in the Canadian Mining Journal)
