Barkerville Gold Mines (TSX:V.BGM, Stock Forum) announced today that the company had turned to Snowden Mining Industry Consultants to update its previous published Cow Mountain NI 43-101 technical report released on June 18, 2013.
According to the news release, the resource estimate update and ensuing technical report are expect to push Cariboo Gold Project toward preliminary economic assessment (“PEA”) status.
Since the June 2013 technical report, the company has embarked on a vigorous assay program to incorporate previous un-assayed core and reject samples from drill holes completed in 2007 through to 2011.
The updated technical report will also utilize data from the 2014 drill campaign at Cow Mountain, including 10 proposed deep drill holes that target mineralization at both the Rainbow/Baker contact and Lowhee Unit hosting Bonanza Ledge style gold mineralization.
Snowden is expected to complete the update in approximately 120 days.
Barkerville Gold was in the news recently when the company announced it would commence a resource update on Cow Mountain.
Shares jumped 12.50% on the news to $0.45 per share.
Currently there are 126.6m outstanding shares with a market cap of $57.0 million.