BRITISH COLUMBIA – Vancouver-based BCGold has discovered a new, high grade gold shoot at the former Engineer mine 32 km west of Atlin. Dubbed the 505-3 shoot, this is an area of remnant pillars that previously was categorized as waste. Bulk sampling of two lots totalling 104.5 tonnes returned assays 14.5 g/t Au and 44.6 g/t Au. The 505-3 shoot is believed to be the top of a shoot within the Engineer vein projected to plunge sub-vertically and to be open at depth.
BC Gold called the 505-3 shoot a “compelling” exploration target. The company estimated that it between the 5 and 6 levels, the shoot contains 1,200 to 1,800 tonnes grading 30 to 60 g/t. There may be between 1,000 and 3,000 oz of contained gold.
In 2012 BC Gold will spend $2.5 million on underground exploration and development at the Engineer mine. The 505-3 shoot will be mined between the 5 and 6 levels. Dewatering below the 6 level will allow access to the down-plunge extension. Underground diamond drilling of four previously untested veins and the Share zones A and B is also planned. The bulk sample will be treated on the site in a 30-t/d gravity mill to create a gold concentrate.
A longitudinal plan of the bulk sampling and of the underground drill targets may be viewed at BCGoldCorp.com. Links are provided from the news release dated Feb. 29, 2012.