Barker Minerals Closes Private Placements
| For immediate release | BM-10-158 |
Barker Minerals Closes Private Placements
Flow-through Placement
The Company issued 250,000 common share flow-through units (the "FT Units") at a price of $0.10 per FT Unit for
gross proceeds of $25,000. Each FT Unit consisted of one common share (a "Common Share") of the Company
issued on a flow-through basis and one non flow through common share purchase warrant ("Warrant") of the
Company. Each Warrant entitles the holder to acquire one Common Share at a price of $0.20 per share in year
one and $0.30 per share in year two.
Non-flow-through Placement
The Company issued 4,695,000 common share units (the "Units") at a price of $0.05 per Unit. Each Unit consisted
of one Common Share and one common share purchase warrant (a "Warrant") of the Company. Each Warrant will
entitle the holder to acquire one Common Share at a price of $0.10 per share for a period of five years.
Insiders (or their associates) acquired a total of 4,035,000 Units. The proceeds received from the sale of the Units
will be used for general working capital (including payment of outstanding accounts) and to fund work programs
on the Company's properties. All of the securities issued are subject to regulatory hold periods that expire on
November 20, 2010.
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.
Barker Minerals Ltd.
Tel: (250) 563-8752
Fax: (250) 563-8751
www.barkerminerals.com
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.
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.
Barker Announces Non-Brokered Private Placement and Grants Options
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
| For immediate release | BM-10-157 |
Barker Announces Non-Brokered Private Placement and Grants Options
The Units are priced at $.05 and consist of one common share (a "Common Share") of the Company and one common share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to acquire one Common Share for a period of five years at an exercise price per share of $0.10.
The Flow-Through Units are priced at $.10 and consist of one common share (a "Common Share") of the Company and one-half of a common share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to acquire one Common Share for a period of two years at an exercise price per share of $0.20 in the first year and $0.30 in the second year.
The Company may pay finder fees of 7% of the proceeds payable in cash and may issue finder warrants to acquire up to 8% of the Units issued in the private placement exercisable at the issue price of the Units expiring eighteen months from closing.
The proceeds received from the sale of the Units will be used to fund work programs on the Company's properties, fund the Company's Pro-Long Campaign and for general working capital, including the payment of outstanding accounts payable.
Interested qualified investors may contact the Company directly for further information on the private placement opportunity.
Insiders of the Company are taking 40% of the offering.
Options Granted
The Company also announces the grant of 3,000,000 incentive stock options to consultants, employees, officers and directors of the Company. The Options are exercisable at $0.10 per share for a period of ten years.
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 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.
Barker Minerals Ltd.
Tel: (250) 563-8752
Fax: (250) 563-8751
www.barkerminerals.com
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.
Barker Minerals' 2009 Trenching Exposes Base and Precious Metal Mineralization on the Titan Trend "A" VMS Target on its Frank Creek Project
| For immediate release | BM-09-156 |
Barker Minerals' 2009 Trenching Exposes Base and Precious Metal Mineralization on the Titan Trend "A" VMS Target on its Frank Creek Project
Prince George, B.C., April 26, 2010 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") is pleased to report results and interpretation on its 100% owned Frank Creek VMS project where 2009 trenching exposed a broad zone of VMS style alteration associated with base and precious metal mineralization. The results of the 2009 trench samples show strongly anomalous to potentially ore grade, base and precious metal mineralization in a well-defined stratigraphic horizon with the mineralization being enriched in copper, zinc, lead, silver and gold as well as a number of pathfinder elements that are characteristically elevated in and around Kuroko type VMS deposits.
The property is located in the Cariboo Mining District of British Columbia approximately 77 km northeast of Williams Lake B.C. and hosts excellent access and infrastructure. (Location Map)
The late season 2009 trenching discovery on Line 53N and 22+50W was an extension across the stratigraphy of the 2008 original Line 53N area trenching and drilling discovery. The recent trenching exposed approximately 75 metres of a highly altered sulphide zone comprised of lenses, pods and blocks of massive sulphide mineralization. The discovery extends the overall width of the Line 53N trenching and drilling mineralized and altered zone, to approximately a 100 metre true width which is still open in all directions. The blocky massive sulphide mineralization occurs together with stringer sulphides in favourable felsic volcanic rocks. Massive pyrite occurs together with variable amounts of sphalerite (zinc), galena (lead), and chalcopyrite (copper).
The width of the mineralized zone remains open to the southeast and northwest as well as along strike in both directions. The zone is also open at depth where a large and strong Titan 24 Conductor has a 3-D subsurface signature similar to that of a massive sulphide body. The exploration results to date, on surface and in initial exploration drilling, along with the overturned nature of the rocks in this area bode well for a potential economic ore body being present below the broad near surface VMS style footwall mineralization and alteration discovered to date through trenching and initial exploration drilling. (Titan Geophysical Model)
Thirty seven grab samples were taken in order to characterize and determine the potential grades of the surface mineralization exposed in the trench. Sampling was done intermittently over the 75 metres with samples taken approximately 1 to 2 metres apart where bedrock surface exposure allowed. The overall size, geometry and grades of the mineralized zone will ultimately be determined through future drilling programs testing the immediate discovery area, and by tracing the mineralized zone along the prospective horizon both to the northwest and to the southeast, and to depth.
Click to view the 2009 Trench Grab Sample Geochemical Results.
The Line 53N and 22W area is centred on the strongest co-incident multi-element enzyme leach soil anomaly and is near the contact between chargeability highs and resistivity lows, a geophysical pattern which is consistent with a favourable location for the formation of volcanogenic massive sulphide mineralization. (Soils: Copper, Lead, Zinc)
It is very encouraging to see the sulphide content and grades of base and precious metals increasing together as exploration vectors into the heart of the coincident geophysical and geochemical surface anomaly. A high priority has been given to the L53N trench and drilling discovery area in order to extend the mineralization in the new trench and also to see it in drill core.
Other Prominent Nearby Drill Targets
The Titan-24 geophysical survey shows a broad and strong conductor 200 metres to the south of the Line 53N trenching and drilling discovery area which is centred on Line 51 at a moderate depth with the top of the conductor being 250 -- 300 metres from surface. The same conductor is also present on Lines 53N and 55N, only deeper down, with the top of the conductor being between 400 - 500 metres from surface. This area of the Titan Trend "A" Conductor has a subsurface 3-D signature similar to that of a massive sulphide body. This large and strong anomaly, along with the Line 53N trenching and drilling discovery area, are high priority targets for the next phase of drilling at Frank Creek. (Lines 51N, 53N, 55N Geophysical Sections)
Summary and Recommendations
The widespread occurrence of footwall-type alteration and mineralization on surface and in drill core affirms the overturned nature of the local stratigraphy, evidenced by results from previous exploration programs. The massive sulphide lenses discovered in the Discovery Trench in 2001 and in the F9 Target trenches in 2007 - 2009 exist in a favourable stratigraphic contact horizon occurring within, or somewhat below, sedimentary rocks that are locally graphitic, and atop and partly within a felsic volcaniclastic pile. VMS deposits in other mining districts commonly form at or along contact of sedimentary and volcanic rocks with similar alteration assemblages.
Polymetallic massive sulphide lenses discovered in trenches in 2007 - 2009 and diamond drill hole (DDH) in 2008 in the F9 Target area are recommended for intensive follow up by further trenching and drilling. Five thousand metres of drilling in a grid pattern has been recommended to follow the massive sulphide mineralization outward from the known locations near Line 53N and 22W. Two 750 metre deep DDH are also recommended nearby on each of Lines 51N and 53N to test the heart of the compelling strong Trend "A" low resistivity anomaly.
A Line 53N tentative schematic interpretation of the geology and structure can be viewed in the following link (Line 53 Interpretation)
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 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
www.barkerminerals.com
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.
Barker Minerals' 2009 Drilling Results Confirm Kuroko Style VMS Mineralization on the Frank Creek VMS Project
| For immediate release | BM-10-155 |
Barker Minerals' 2009 Drilling Results Confirm Kuroko Style VMS Mineralization on the Frank Creek VMS Project
The purpose of this hole was to test a strong HLEM conductor from the 2002 geophysical survey in the F1 Area. This conductor had several N-S oriented splays trending toward the massive sulphide exposure in the Discovery Trench, 200 metres to the south. These conductors terminate at Frank Creek 400 metres to the north, just above the occurrence of massive sulphide boulders which are up to approximately one metre in size. Hole FC09-38 encountered pyritic (10%) volcaniclastics, graphitic argillites and a gouge (fault) zone in the upper half of the 334 metre hole which is capable of explaining the near surface geophysical conductor. An anomalous gold (Au), lead (Pb), zinc (Zn) zone occurred between 39 to 60 metres. This zone was associated with graphitic argillite characterized by breccia and local flow or slump textures which may represent the hanging wall of a favourable horizon for massive sulphide formation.
The purpose of the hole was to test a Titan-24 IP low resistivity anomaly from the 2004 geophysical survey. Hole FC09-39 encountered pyritic and graphitic argillites in the upper 93 metres. The argillites tended to be foliated and brecciated. Below approximately 90 metres the rocks encountered were massive volcaniclastics to the bottom of the hole at 566 metres. Below approximately 160 metres alteration intensity and veining increases, between approximately 280 -- 394 metres sulphide-quartz veins are more common with stronger alteration associated with local zones of stockwork veining. Between 280 and 394 metres the rocks are magnetic with numerous veins containing mostly pyrrhotite with chalcopyrite and grey quartz common. The occurrence of pyrrhotite and chalcopyrite in the vein stockwork in Hole 39 suggests a closer proximity to a possible massive sulphide mound than in Hole 38 was.
Drillholes FC09-38 and FC09-39 encountered local quartz-sulphide stockwork within zones of pervasive sericite and silica with lessor chlorite and fuschite alteration. Hole 38 had a more strongly altered zone than Hole 39 while the latter hole had a better-developed quartz stockwork which contained fairly abundant pyrrhotite and a higher occurrence of chalcopyrite clearly associated with the pyrrhotite veins. The anomalous Au zone in Hole 38 (39 metres to 60 metres) had a strong correlation with Pb and Zn. High Pb (1.06%) over 40cm at 13 metre depth in Hole 38, and galena in quartz veins in an outcrop in the road ditch adjacent to the drill pad indicate the possibility of gold-bearing veins near the surface as well as in the 39-60 metre zone. Vein-related Au-Pb-Zn mineralization in the F1 Target Area may post-date the massive sulphides in the Discovery Trench and may be structurally controlled. This type of mineralization may be the source of the placer gold taken from the adjacent Frank Creek by the Rasmussen brothers in the 1980's
On January 11, 2010 the Company reported a new late season 2009 trenching discovery on Line 53N and 22+50W which was an extension across the stratigraphy of the 2008 original Line 53N area trenching and drilling discovery. The new discovery has exposed approximately 75 metres of a highly altered sulphide zone comprised of lenses, pods and blocks of massive sulphide mineralization and further extends the overall width of the Line 53N trenching and drilling mineralized and altered zone. The blocky massive sulphide mineralization occurs together with stringer sulphides in favourable felsic volcanic rocks. Massive pyrite occurs together with variable amounts of sphalerite (zinc), galena (lead), and chalcopyrite (copper). The width of the mineralized zone remains open to the southeast and northwest as well as being open along strike in both directions.
Two short hand-held video clips of the 2009 trenching discovery, while it was in progress, can be viewed at the link below on You Tube. The short video clips allow shareholders a great opportunity to see an exciting trenching discovery as it happens.
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.
Barker Minerals Ltd.
Tel: (250) 563-8752
Fax: (250) 563-8751
www.barkerminerals.com
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.
Barker Minerals Profiled by the TMX and Presents "Canada's Next Mining Frontier" at Vancouver Cordilleran Roundup
| For immediate release | BM-10-154 |
Barker Minerals Profiled by the TMX and Presents "Canada's Next Mining Frontier" at Vancouver Cordilleran Roundup
Prince George, B.C., January 28, 2010 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") is pleased to report that it has recently been profiled in an interview by financial journalist, Jordan Luy, of the TMX News Group. The interview can be viewed on the TMX's website under the CEO Interview section or through the following link: http://www.tmxmoney.com/en/news/interviews/Jan21-2010_BML.html. The TMX Group owns and operates the Toronto Stock Exchange and TSX Venture Exchange.
2010 Vancouver Cordilleran Roundup Barker's presentation booth was very well received by attendees to one of the mining industry's top Conferences which bring members of the exploration and mining sector together from all over the world. The Conference this year attracted over 5,800 attendees and also had a record number of booth displays. Barker's theme, "Canada's Next Mining Frontier," drew significant interest from major mining company representatives as well as exploration and mining professionals and government academics.
The Conference presentation now sets the stage for the Company's upcoming "Canada's Next Mining Frontier" Webinar series which will highlight the potential of deposit types in this newly recognized highly mineralized district as well as some of the exploration techniques associated in exploring for such deposits. Those wishing to be notified of upcoming Webinar series, as dates and times are confirmed, can phone or email Robert Kuhl through the contact information provided below.
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 and early stage results indicate high potential for diamonds to be present on the property.
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
www.barkerminerals.com
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.