Bralorne Gold Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/03/11 -- 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.
BK DECLINE
Advance of the BK decline from surface toward the upper BK-3 mineralized zone is progressing with 329 feet having been completed so far and 585 feet remaining to go until the mineralized zone is intersected. An ore pass was completed up from the 800 level that will connect with the bottom of the decline. A second raise will be driven from 800 level to the BK3 workings that will be used as an escape way. Once intersected, the BK3 zone will be explored initially by sub-drifting to establish the mineable gold grade.
EXPLORATION
A total of 4000 feet of core has been drilled in 12 holes completed since the program started. Ten holes were drilled from surface, nine of which intersected the BK3 zone above the targeted area for the decline. One surface hole targeted the Alhambra vein. Two holes were drilled with the underground drill to test above the BK 800 stope. A total of 11 vein intercepts were obtained, of which nine have so far been logged, sampled and shipped to EcoTech Laboratory in Kamloops. Assays are pending.
On-going geological modeling and interpretation indicates six possible parallel vein structures to the BK vein. These and a number of other targets in the King mine are being reviewed for drilling this year.
In the Bralorne-Pioneer gap area, a detailed review of drill hole results is being conducted to identify targets for exploration on the HW51BFW, 51BFW, Taylor, 77 vein and the 52 veins. One previous drill hole completed in 1984 (SB84-49) intersected a high-grade gold vein that warrants follow-up exploration. This hole intersected a mineralized quartz vein with a length of 0.6 feet that contained abundant visible gold, which was never assayed because it was saved as a gold specimen. The intercept correlates with the HW51BFW vein and lies within only 75 feet of existing workings on the 400 Level. Drifting is planned for this fall to investigate the gold occurrence.
MILLING
Milling operations continued testing the bulk sample of stockpiled material, producing both gravity and flotation concentrates. Gold dore was produced from the gravity concentrate. As of June 30, a total of 5547 tons were milled (dry tons). To date, a total of 699 ounces of gold was produced from the gravity concentrate and 519 ounces of gold were produced in the flotation concentrate. Recovery in June averaged 91%. Mill availability increased from 43% at start-up to 92% in June.
Marketing of the flotation concentrate is currently underway and samples have been sent to several potential buyers for their evaluation. All dore bars produced so far have been shipped to Technic Canada for storage and sales.
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. Mr. Jasman Yee, P.Eng., Metallurgist, is the Qualified Person responsible for the mill results as reported.
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.
Contacts:
Bralorne Gold Mines Ltd.
William Kocken
President & Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
ir@bralorne.com
www.bralorne.com