January 29, 2007 – BCGold Corp. ("BCGold" or "the Company") and project partner, Kaminak Gold Corporation ("Kaminak"), today announced the staking of an additional 850 hectares of mineral claims which adjoin the Voigtberg Project located in northern British Columbia. These additional claims increase the land holdings to a total of 2,900 hectares.
A detailed geological compilation of the Voigtberg area was initiated after an encouraging diamond drill program was completed in the fall of 2006 resulting in new discoveries of gold and zinc on the Voigtberg Property. This work uncovered additional targets that were subsequently staked. The geological target at Voigtberg is a bulk tonnage "porphyry" system that can host gold, copper and other base metals.
About the Project and the 2006 Drill Program
The Voigtberg Property is located 20 kilometres west of the Stewart-Cassiar Highway, and 4 kilometres from the proposed access road to the high-profile Galore Creek Cu-Au-Ag Project in northwest British Columbia.
BCGold and Kaminak completed a 4-hole diamond drill program in 2006 designed to test separate gold and base metal anomalies across the property. The most compelling drill hole tested the core of a 700m by 400m gold in soil geochemical anomaly referred to as the "Gold Zone." Anomalous gold mineralization occurs through the entire length of the hole including a near surface intercept of 51.15m grading 1.03 g/t Au. Within this 51.15m zone, separate intervals of 11.27m grading 2.0 g/t Au and 4.17m grading 2.74 g/t Au were encountered. Individual assays ranged up to 7.97 g/t Au over 1.3m. The other interesting drill hole to note intersected 22.52m grading 1.02% Zn and contained a higher grade interval of 6.13m grading 2.18% Zn. These new drill intercepts are the most significant results on the property to date and confirm the potential for economic mineralization on the property. These zones remain open along strike and at depth and warrant follow up work.
For further information on the 2006 Voigtberg Drill Program, please see BCGold’s news release dated October 25th, 2006. In addition to the discovery of gold and zinc in drill core, new surface discoveries of molybdenum were made in the 2006 exploration program. A total of eight grab samples were collected on the Voigtberg Property yielding an overall average of 0.211% Mo (0.353% MoS2). Six of these samples assayed >0.10% Mo (0.167% MoS2). The highest assay graded 0.404% Mo (0.647% MoS2). The unexplained molybdenum occurrences demand further follow up and will be addressed in the 2007 exploration program. Final reports from the 2006 season have now been received and preliminary 2007 work programs and budgets are expected to be finalized in the coming weeks. Equity Engineering Ltd. will conduct the 2007 exploration program on behalf of the Joint Venture.
About the Joint Venture Agreement
BCGold has the option to acquire up to a 60% interest in the Voigtberg Property by making $2,000,000 in exploration expenditures over four years and by issuing 400,000 units of BCGold to Kaminak. BCGold can earn an additional 10% interest in the Property by completing a bankable feasibility study, for a total earn-in of 70%.
BCGold Corp. is a new resource-based junior mineral exploration company that believes British Columbia and Yukon hold the most promise for the discovery of significant new precious and base metal deposits, particularly in under-explored historic mining and exploration districts. BCGold acquires and advances conceptual, early and mid-stage, quality exploration opportunities towards resource development, utilizing internal expertise and by joint venture with preferred partners to minimize share dilution and exploration risk.
ON BEHALF OF THE BOARD OF DIRECTORS
Brian P. Fowler, P.Geo.
President and Chief Executive Officer
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This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
Media and Investor Relations Contact:
Sacha C. Fernandes
Manager, Investor Relations
Freeman Smith, P. Geo
President & CEO
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