Mon Jul 30, 2012 Barker Discovers Epithermal Style Mineralization and Alteration in Drilling at its Providence Silver/Gold Prospect in the Black Bear Project Area
For Immediate Release
Barker Discovers Epithermal Style Mineralization and Alteration in Drilling at its Providence Silver/Gold Prospect in the Black Bear Project Area
Prince George, B.C., July 30, 2012 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") is pleased to report that the 2012 drill program on its Providence prospect on the Black Bear silver/gold project has discovered significant alteration and mineralization which is typical of epithermal style gold deposits. The 100% owned project is located 74 km northeast of Williams Lake, in the Cariboo region of British Columbia. The project has excellent access and infrastructure nearby. (Black Bear Location map)
The drill program was undertaken to test for shallow extensions of the high grade silver, gold and lead vein mineralization exposed in outcrop. Two holes have been completed to date with BB12-06 drilled to a depth of 90.5 metres and BB12-07 to a depth of 309.14 metres.
BB12-06 has alternating zones of argillite/mudstones and felsic rocks throughout the hole with the dominant alteration patterns being pyrite, fuschite (chrome mica), calcite, sericite and silica. Gold pathfinder minerals identified by portable XRF analysis were bismuth, arsenic, antimony, cadmium, tin, mercury and selenium. A few narrow veins up to .49 metres in thickness occur with variable amounts of galena, pyrite and lesser amounts of molybdenum mineralization.
BB12-07 also has alternating zones of argillite/mudstones and felsic rocks from surface up to 145 metres where the rocks change to intensely hydrothermally altered mafic volcanic and felsic rocks through to the bottom of the hole with the final 20 metres ending in an intensely altered siliceous zone.
Alteration patterns consist of pyrite, fuschite (chrome mica), calcite, carbonate, sericite, bioitite, hematite, epidote, silica and magnetite. Minor amounts of tourmaline, titanium minerals and chromites were also observed. Associated gold pathfinder minerals identified by portable XRF analysis were silver, bismuth, arsenic, antimony, cadmium, tin, mercury, selenium, nickel, zinc and manganese.
The top 90 metres of both holes were similar geologically and geochemically in alteration style and associated mineralization. Random spot checks with the portable XRF indicate that gold pathfinder minerals, together with the typical epithermal alteration patterns, continue to the bottom of BB12-07 and are still open at depth.
The portable XRF analysis was undertaken with random spot checks in BB12-06 for gold and gold pathfinder minerals in the altered zones as well as in and around the veins. After the initial identification in BB12-06 of consistent high concentration of gold pathfinder minerals, as well as indications of gold itself, a more intensive program to create a continuous detailed geochemical down-hole profile is being undertaken to sample BB12-07 in detail, in its entirety.
The XRF sampling in BB12-07 was undertaken by the spot checking method approximately every .3 metres with many samples being repeated. The XRF analysis reported various concentrations of gold from a depth of approximately 15 metres to 225 metres where detailed testing has been completed. Gold was not detected by XRF analysis in samples taken on or immediately near the galena veins and barren quartz veins. The XRF gold results indicate that gold mineralization may be dispersed through the various rock units, rather than in the veins themselves or favouring any individual particular rock unit. The gold pathfinder minerals are also widespread in the various altered zones through much of the 225 metres of detailed XRF sampling and are also present in the initial spot checks of the remainder of BB12-07. These are to be resampled in detail by XRF.
The XRF analysis in BB12-07 between 15 metres and 225 metres had 524 readings showing gold results ranging between 1.12 ppm (1 ppm equals 1 gram per ton) and 125.00 ppm. Of the 524 gold readings 78 returned results from 1.12 ppm to 9.99 ppm, 380 readings were between 10.00 ppm to 14.99 ppm and 66 samples were reported over 15 ppm. Gold values reported vary in concentrations from one alteration pattern to another as well as with pattern changing pathfinder mineralogy.
The portable XRF gold analysis results are only indicative of the potential for gold and are not meant to be representative of the actual grades of gold in the drill core itself. Reliable gold analysis can only be accurately determined through accredited laboratory analysis.
Drilling, XRF sampling and core logging are continuing and once completed samples will be sent to accredited labs for analysis to determine the levels of gold present in the drill holes and to confirm the gold pathfinder mineralization identified in the detailed portable XRF analysis.
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.
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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