The Bonanza Ledge Mine at Barkerville Mountain is BGM's most prospective asset in the short-term. The company received a positive pre-feasibility study for Bonanza Ledge in September 2009 (updated in June 2013), and on April 23rd, 2015, announced the completion of Phase I test mining, with 91,234 tonnes processed at a head grade of 8.66 grams per tonne, yielding 23,726 ounces and a total recovery of 93.4%.
The mine is situated on the southwest flank of Barkerville Mountain, about two kilometres northwest of the Barkerville Historic Town site.
In May 2010, BGM confirmed that Bonanza Ledge–style disseminated gold mineralization is present at depth. Diamond drill hole BC10-03 intercepted up to 50% pyrite replacement below 500 feet returning 3.8 grams per tonne gold from 505.6 to 510 feet. The current Bonanza Ledge NI 43-101 resource has only been defined to a depth of 250 feet. Further exploration is now planned to follow up on these new, deeper targets, with several more diamond drill holes to be drilled both at depth and along trend of the Bonanza Ledge deposit.
Barkerville Mountain - Bonanza Ledge Section (Looking Northwest)
The discovery of the Bonanza Ledge style of mineralization has implications for future exploration on the Barkerville Mountain, Cow Mountain, Island Mountain claim groups and is open to the southeast, to the northwest, and to depth. Stratigraphy similar to that hosting the Bonanza Ledge mineralization occurs structurally below the metaturbiditic Rainbow sequence on Island Mountain and represents a viable and previously unexplored exploration target.
A structure called the BC Vein that runs through the Bonanza Ledge Mine is of particular interest to the company due to the immediate mining potential it contains.
Drill Holes That Intersect BC Vein