Fri Oct 16, 2009 Barker Files Ace and Simlock Gold Project 43-101 Report
For immediate release
BM-09-148
Barker Files Ace and Simlock Gold Project 43-101 Report
Prince George, B.C., October 16, 2009 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") reports that it has filed on SEDAR a National Instrument 43-101 Technical Report on its 100% owned Ace and Simlock Gold projects which was prepared by the Company's Qualified Person (QP), Rein Turna, B.Sc., P.Geo. The report includes $5,500,000 and $2,270,000 of recommended phase 1 programs on the Ace and Simlock projects respectively. The Ace and Simlock properties are adjacent to one another and are located in the Cariboo Mining District of British Columbia. The projects are approximately 100 km northeast of Williams Lake, with excellent access and infrastructure nearby.
http://www.barkerminerals.com/reports/Ace-Simlock_43-101_Report.pdf
Barkerville Terrane - Gold Potential
The Ace and Simlock projects are situated in the Barkerville Terrane which correlates with the Yukon Tanana Terrane in the Yukon and Alaska. The Yukon Tanana Terrane hosts a number of multi-million ounce gold deposits in the "Tintina Gold Belt" district such as Pogo, Fort Knox-True North, and Donlin Creek. The Yukon Tanana Terrane also hosts the recent significant gold discovery by Underworld Resources Ltd. in the Yukon.
More locally, the Simlock and Ace Gold Projects are on strike, and prospective, for Bonanza Ledge style and related gold mineralization similar to the Wells/Barkerville Gold camp located 35 km to the northwest. On Oct 7/09 International Wayside Gold Mines Ltd. announced one of the best reported drill intercepts in the Barkerville gold camp's history, an impressive 84.4 metres (277 feet) of 16.5 g/t (.48 oz/t) gold.
Simlock Gold Project
High grade gold potential has been identified on the Simlock Project by previous exploration programs which includes a 4.1 metre wide silicified zone averaging 1.18 oz/ton gold, which also includes 2.28 oz/ton gold over 1.6 metres. An open ended gold in soil anomaly was also identified along the favorable strike of the bedrock mineralization for a distance of 1.5 km in a mostly overburden covered area which is located immediately upslope from the historic hydraulic placer gold operations.
Ace Gold Project
Previous exploration programs on the Ace project have identified numerous gold related drill targets through geological, geochemical and detailed geophysical surveys, within an envelope of gold bearing quartz float boulders over a strike length of 8 km x 2 km wide. A composite sample of 53 widespread sulphide bearing quartz vein boulders averaged 3.1 g/t gold with individual values ranging from .25 g/t up to 29 g/t. The Ace project exhibits geochemical and geological similarities to the 5.5 million ounce Pogo deposit in Alaska.
President/CEO Louis Doyle states:
"Modern hard rock exploration over the past couple of decades in the historic placer gold fields of Alaska and the Yukon has been successful in the discovery of a variety of world class hard rock gold deposits. Barker's Ace, Kangaroo and Simlock gold projects are hosted in similar geology and demonstrate the significant untapped hard rock gold potential in the historic Cariboo placer gold district."
The scientific and technical information contained in this news release was prepared under the supervision of Rein Turna, B.Sc., P.Geo. the Company's "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Barker Minerals is advancing exploration on its mineral properties in the Cariboo Gold District, one of the most mineralized belts in British Columbia. The Company has 20 projects on its exploration properties, all of which are 100% owned by Barker Minerals. Eight projects have drill-ready gold and/or massive sulphide targets.
Certain statements in this press release may be considered forward-looking information, including those relating to "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Louis E. Doyle, President & CEO
Barker Minerals Ltd.
Tel: (250) 563-8752
Fax: (250) 563-8751
Robert H. Kuhl
Barker Minerals Ltd.
Tel: (604) 321-0709
Fax: (604) 321-0719
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.
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