Tue Dec 7, 2010 Barker Reports Trenching Completed on its Cariboo Project and Provides Further Detail on STP Review
For Immediate Release
Barker Reports Trenching Completed on its Cariboo Project and Provides Further Detail on STP Review
Prince George, B.C., December 7, 2010 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") reports that trenching has been completed on the Cariboo zinc/lead/silver project which was previously announced on August 25, 2010. (BM-10-161) The Cariboo property is approximately 35 km northeast of the settlement of Likely and 100 km northeast of Williams Lake, in the Cariboo region of British Columbia. (Cariboo Project Location Map) The project has excellent access and infrastructure nearby and occurs within an 80 km x 30 km contiguous block of claims which are 100% owned by Barker Minerals Ltd. (Barker Minerals Claim Map)
Road access was re-established and approximately 500 metres of trenching was completed in and around the Main Zone which is where mineralization and alteration reach surface. The trenching was successful in exposing intensely altered schist up to ten metres into the hanging wall and for 75 metres into the footwall of the main zone. Near continuous chip samples over 80 metres were collected across the main altered and mineralized zone which were recently sent for analysis The trenching also successfully exposed the main zone mineralization of higher grade zinc/lead over an eight metre width in bedrock.
A step out trench 75 metres along strike also exposed the broad alteration zone over approximately a 100 metre width. Sampling will be conducted on this trench as follow up in the spring if the upper trench yields interesting results from the 2010 sampling.
As previous drilling did not yield very good recovery the full extent of the mineralized zones remains unknown. The trenching and surface sampling will provide invaluable information on the deposit's geological orientation as well as mineralogical patterns and associations both within the main mineralized zone as well as the broad altered zone enveloping it.
The main zone is comprised of significant zinc and lead mineralization. The altered schist, in both the hanging wall and footwall, has a considerable amount of oxidizing sulphides together with intense sericite alteration. In many places a later stage chrome mica overprint was observed which is also conspicuously present in many of Barker's project areas within the Goose Range.
The trench across the zone coincides with a broad airborne target identified in recent Federal Government airborne surveys which successfully defined the mineralized and altered trend that shows good continuity and width potential. (Cariboo Lake GSC Airborne EM/Magnetic Trend)
A 43-101 comprehensive 2-phase $2.3 million exploration program is recommended including geological mapping, prospecting, soil sampling, geophysical surveys, trenching and drilling over the mineralized trend. (Cariboo Zinc Project 43-101 Report)
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.
STP Review Additional Information
On November 26 2010 the Company issued a news release (BM-10-165) on the results of a study from STP Services Inc regarding failures to deliver of shares in Barker's market. Further detail is provided below in order to demonstrate how the 17.5% fail rate was reached as previously reported. Excerpts from the STP Report:
"In an 8 week time frame within the 16 week test period Barker confirmed multiple instances where Stockwatch reported stock sales at the Toronto Stock Exchange (TSX) that far exceeded the net delivery of shares for settlement through CDS." and "We note that the net sales of 3,134,287 shares in the period exceeds the net settlement at CDS by 1,147,257 shares suggesting a fail rate of 17.5 percent. Based on our prior research, this is a realistic estimate of the turnover represented by fails to deliver in equity securities." Total sales for this period as reported by the TSX were 6,422,621.
About Barker Minerals
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 more than 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.
Louis E. Doyle
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 the 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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