|Mon Oct 26, 1998|
Ace Drill Program, Marketing, BC Government
| ||Barker Minerals Ltd. is pleased to provide an update on their exploration activities on the Ace project and on their on-going efforts to obtain a public listing. After investing more than $2.5 million on a number of geophysical and geochemical surveys as well as completing extensive field work over the past few years, Barker Minerals is ready to commence drilling. In final preparation for this work, the Company's principal consulting geologist, John Payne, Ph.D., spent the past two months completing detailed geological mapping of the Ace project resulting in the discovery of further support that the gold-bearing, volcanogenic massive sulfide (VMS) mineralization extends both to the east and west of the known central portion of the project. |
Earlier this year, the Company was pleased to receive a report from Strathcona Mineral Services Ltd. confirming the quality of Barker's previous exploration work as well as their assessment that the mineralization described on the Ace project was similar to other massive sulphide deposits in British Columbia, including the high-grade Goldstream deposit and Windy Craggy, one of the largest massive sulphide deposits in the world.
As a follow-up to this report, a senior geologist from Strathcona recently spent several days at the Ace project and in the Langley office. In a report dated August 25, 1998, he states that "the central portion of the Ace project represents a VMS target which requires drilling". He further suggested that the area of sphalerite-rich (zinc-sulphide) boulders, that occur in the eastern portion of the Ace project, may be an area for follow-up geophysical surveys, trenching, and future drilling. Subsequent to this August report, Strathcona completed a detailed compilation of the Company's entire geophysical data base. This review combined with the extensive work already completed on the property, provided John Payne and Louis Doyle with additional information to help select the best drill sites.
The initial drill program will test the central portion of the project. The east-west extensions of this mineralization will be further explored in future drill programs. Barker is currently planning 5 to 10 core holes totaling approximately 1,200 meters. John Payne has allocated sufficient time to oversee the entire drill program. The Company sincerely appreciates John's dedicated effort on our behalf. Several companies expressed interest in completing the drilling and the contract was recently awarded to J.T. Thomas Drilling, a well-respected company with a nearby office in central B.C.
Marketing Program In-place
The Company has started preparing much of the necessary material for entering the public marketplace. Part of this material includes the development of a computer-generated slide presentation which will be used for broker and analyst meetings, investment conferences and annual general meetings. In addition, with much of today's marketing efforts being directed toward the Internet, the Company has also created this web site. The site contains a wealth of information concerning Barker Minerals and also has links to information on the mining industry in British Columbia, a glossary of geological terms, the Company's complete slide presentation, a public forum, and direct links to the Company for any specific questions you might have. Please let us know how we might make improvements. This will hopefully serve as an easy method for everyone to follow the Company's activities. It is however, not meant to replace your ability to call the Company whenever you wish, this is your company and we're always pleased to hear from you.
BC Government Starting to Help the Mining Industry
In a Province with a reputation for offering little support toward the mining industry, the Government of British Columbia is starting to show encouraging signs of changing policies. Corporate tax incentives are being offered for exploration activity, concessions are being made on tax and utility costs to help keep marginally profitable mines operating, and newly-signed landmark legislation (NISGA'A) now insures fair and just due process for placing a mine into production.
You can view the Next Company News item: Tue Nov 17, 1998, Drilling Commenced on Ace Project
You can view the Previous Company News item: Fri Jul 14, 2000, Prominent Communicator joins Barker
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