Mon Nov 24, 2003 Barker Evaluating High Grade Silver/Gold Prospect and Allocates Options
Barker Evaluating High Grade Silver/Gold Prospect and Allocates Options
Vancouver, B.C., November 24, 2003 -- Barker Minerals Ltd. (the "Company": BML - TSX/V) President and CEO, Louis Doyle, announces that, in consideration of the substantial and sustained increases in the price of silver and gold, the Company is formulating a program to advance its silver and gold projects, in particular, its silver/gold Blackbear Project which is located near Likely B.C.
Dr. Trygve Höy, an exploration consultant to the Company, is currently compiling the results of all past exploration programs in the Blackbear Project area and will be providing a summary report to the Company, which will be used to assist in planning the next phase of exploration of this high-grade prospect.
The Blackbear Project has numerous high-grade surface showings of silver and gold-rich galena. Previous exploration work by Barker resulted in grab samples assaying up to 142 oz/ton silver(Ag) (4540 g/t Ag), 0.08 oz/ton gold(Au) (2.5 g/t Au.) and 52% lead. Also, B.C. Minfile reports state that a sample of selected ore for shipment from historic production from the now idle Providence Silver/Gold Mine, which is within the Blackbear Project area owned by Barker, assayed 104 oz/t silver(Ag) (3,343 g/t Ag.), 0.15 oz/t gold(Au) (4.9 g/t Au.), 0.11% zinc and 45.7% lead.
The Blackbear Project is not currently considered a property material to the Company under National Instrument 43-101 -- Standards of Disclosure of Mineral Projects; in any event, a qualified person has verified Barker's grab sampling data disclosed in this news release.
The Company also reports that it has allocated 1,230,000 options to its directors, senior officers, employees and consultants pursuant to its option plan, each option being exercisable into one common share of the Company at $0.25 per share for a period of five years. The issue of the foregoing options is subject to the approval of the TSX Venture Exchange.
Barker Minerals Ltd. is a mineral exploration company focused on the discovery of economic precious and base metal mineral deposits. Barker beneficially owns a 100% interest in approximately 4,275 mineral claim units (approximately 264,099 acres) located in the Cariboo Mining District of east central British Columbia.
For Further Information contact:
Louis E. Doyle
Barker Minerals Ltd.
Tel: (604) 530-8752
Fax: (604) 530-8751