BCGold Corp. Defines Large Gold-Silver Soil Anomaly East of Engineer Mine
VANCOUVER, January 9, 2017 / BCGold Corp. (TSXV: BCG) ("BCGold" or the "Company") is pleased to announce the discovery of a new gold-silver-arsenic-antimony MMI soil anomaly at its Engineer Mine property, situated 32 kilometres southwest of Atlin, B.C. The new anomaly (the "BC" anomaly) as currently defined, is 500 metres east of the historic mine workings in an area that has only seen limited modern exploration. The BC anomaly is 300 m long by 250 m wide and near the projected intersection of Shears 'A' and 'B', large second-order fault structures known to host significant gold mineralization in hydrothermal breccias within the mine workings area. The BC anomaly is elevated in gold and silver with an outer halo of elevated arsenic, antimony and molybdenum. All are elements associated with Engineer-style gold mineralization within the historic mine. (view map) "The BC anomaly represents the largest near-mine gold-silver soil geochemical anomaly defined to date at Engineer Mine", stated Brian Fowler, President and CEO. "The dimensions, chemistry and intensity of this anomaly, along with its association with known mineralized shear zones, creates a compelling drill-ready exploration target. The Company is planning to further define the limits of the BC anomaly through additional soil geochemical sampling in Q2 2017, utilizing flow-through funds from its current private placement."
Private Placement
As previously reported, the Company has arranged a non-brokered private placement of up to $500,000 through the issuance of units and flow-through shares at a price of five cents per unit and flow-through share. Each unit will be composed of one common share and one share purchase warrant. Each whole warrant is exercisable to purchase one common share of the company at a price of 10 cents per share for a period of one year from the date of closing. Proceeds will be used to conduct an I.P and ground magnetic geophysical survey at the Company's 100% owned Pucacorral property in Central Peru, a soil geochemical survey at the Company's 100% owned Engineer Mine property in northwestern B.C., and to provide for general working capital.
Engineer Mine Technical Paper Published
BCGold is also pleased to report that it has received a technical paper titled "The Engineer Mine, British Columbia: An example of epithermal Au-Ag mineralization with mixed alkaline and subalkaline characteristics" by Dr. Leo Millonig et.al. This paper has just been published in Ore Geology Reviews and is available free of charge until February 25, 2017 (https://authors.elsevier.com/a/1UL2K_3s85-4Go). This is Dr. Millonig's second Engineer Mine technical paper, the first of which can be viewed on BCGold's website at www.bcgoldcorp.com.
Quality Control
The 2016 Engineer Mine MMI soil sampling field program was conducted by Decoors Mining Corp. of Atlin, B.C., British Columbia. A total of 148 soil samples were submitted to SGS Minerals Services in Burnaby, British Columbia, an ISO/IEC 17025 accredited laboratory, where they were prepped and analyzed using proprietary MMI-M methodology (method code GE_MMI_ME). The work program was designed and supervised by Fionnuala Devine, M.Sc., P.Geo. of Merlin Geoscience Inc.; a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
About BCGold
BCGold is a Vancouver-based junior resource company that has been listed on the TSX Venture Exchange for 10 years, with a focus on copper and gold exploration in British Columbia, Yukon and more recently, Peru. The Company acquires prospective gold and copper-gold exploration properties considered to have significant mineral potential by staking, option or purchase agreements. The Company currently has a portfolio of 2 — 100% owned gold-copper-silver properties in Peru, 10 — 100% owned and 2 partially owned gold and copper-gold properties in B.C. and Yukon.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo.
President & CEO
For further information, please contact:
BCGold Corp.
Brian P. Fowler, President & CEO
604-681-2626
www.bcgir@bcgoldcorp.com
Gary A. Anderson, Executive Chairman
604-857-2556
gwaa123@gmail.com
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.
Some statements in this news release contain forward-looking information or forward-looking statements. These statements include, but are not limited to, statements with respect to future expenditures and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration, development and production activities. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.