Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 1, 2011) – Bralorne Gold Mines Ltd. (the “Company”) (TSX VENTURE:BPM)(PINK SHEETS:BPMSF)(BERLIN:GV7)(FRANKFURT:GV7)(WKN A0B75M) is pleased to provide the following update of activities at its Bralorne mine operation located near Gold Bridge, British Columbia.
A check assay of the recently announced high grade result for surface drill hole SB11-21 has been completed. The repeat assay result is 51.47 ounce gold per ton for the 3.1 foot interval (1764 grams per tonne gold over 0.9 meters). This second assay confirms the initial assay of 23.35 ounce gold per ton over 3.1 feet. The intercept is located in the BK Gap exploration area, approximately 160 feet north of the BK vein and west of area of mined on the BK vein on 800 level. The core interval consists of a faulted zone of altered wall rock and minor quartz vein material with coarse grains of visible gold in the quartz fragments.
Note: The Company considers this intercept as significant but cautions that such exploration information is preliminary in nature and is not conclusive evidence of the likelihood of the occurrence of an economic mineral deposit.
Dr. Matt Ball, P.Geo., Chief Operating Officer for the Company, is the Qualified Person who prepared the exploration information contained in this news release.
The Bralorne mine is located 150 air miles from Vancouver, BC. The Company is re-developing the former and very successful Bralorne, Pioneer and King gold mines. From 1928 to 1971, these three operations produced 4.15 million ounces of gold from 7.9 million tons of ore (equaling a grade of 0.53 ounces per ton). Bralorne, Pioneer and King represent the largest historic gold producers in the Canadian Cordillera. The Company remains well funded with no long-term or short-term debt.
For more information, please visit our website at: www.bralorne.com.
ON BEHALF OF THE BOARD
William Kocken, President & Chief Executive Officer
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
