October 25, 2006 – BCGold Corp. (TSX VENTURE:BCG) and project partner Kaminak Gold Corporation (TSX VENTURE:KAM) are pleased to announce drilling results from the Voigtberg Property located 20 kilometers west of the Stewart-Cassiar Highway, and 4 kilometres from the proposed access road to the high-profile Galore Creek Cu-Au-Ag deposit in northwest British Columbia, Canada.
Four diamond drill holes (VGT06-04 to VGT06-07) were completed for a total of 717m. VGT06-05 and VGT06-06 were designed to test separate gold in soil geochemical anomalies within the Gold Zone area and holes VGT06-04 and VGT06-07 were completed on alternate targets located outside the Gold Zone environment. The geological setting at Voigtberg is suggestive of "porphyry" style deposits which are typically low grade, bulk tonnage systems.
"The Voigtberg option is BCGold Corp.’s qualifying transaction and these drill results are very encouraging and a great start for a new company", stated Freeman Smith, President and CEO of BCGold. "In less than a year the Voigtberg property has advanced from an interesting geochemical and alteration anomaly to a project with compelling exploration potential based upon significant gold and zinc mineralization in drill core. To have a new discovery in close proximity to Galore Creek is very exciting."
BCGold has an 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%.
Gold Zone Results
Drill hole VGT06-05 was drilled to test 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 2.04 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.
Three closely spaced drill holes (151 metres each) were completed along the margin of the Gold Zone soil anomaly in the summer 1996. Anomalous gold was encountered throughout each of the three holes and the final 2.43 m of the third hole assayed 2.01 g/t Au. Nonetheless, the main soil anomaly was never drill tested until hole VGT06-05 was completed this season. VGT06-05 encountered extensively altered volcanic and felsic porphyrityic rocks and anomalous gold mineralization were encountered through the entire hole. Mineralization appears to be confined to a near vertical zone open along strike and at depth.
A second drill hole (VGT06-06) was attempted and abandoned at the southern extent of the soil anomaly. Drilling conditions were very poor and the hole was terminated in overburden.
Gold Zone Assay Table
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)|
Additional Drill Results
Two holes (VGT06-04 and VGT06-07) were designed to test base metal targets and establish geological correlations up to several hundred metres away from the main Gold Zone. Hole VGT06-07 was located 160m south of the Gold Zone and was designed to detect any base metal zones or haloes along the margin of the Gold Zone. The most interesting intersections cut 22.52m grading 1.02% Zn containing a higher grade interval of 6.13m grading 2.18% Zn.
Hole VGT06-04 was set-up to evaluate a molybdenum outcrop occurrence discovered earlier this season (see BCGold news release dated September 14, 2006). Highly altered volcanic and porphyritic rocks were encountered with abundant sulphide mineralization, yet no significant assays were obtained. Further interpretation will be completed in order to locate depth extent of the known molybdenum mineralization.
Results from these two holes have provided important geological information about the nature and zoning patterns within the large-scale Voigtberg porphyry hydrothermal system.
VGT06-04 AND VGT06-07 ASSAY TABLE
|Hole ID||From (m)||To (m)||Interval (m)||Zn (%)|
|VGT06-04||no significant values|
About the Project
Equity Engineering Ltd. of Vancouver, British Columbia has been contracted to oversee the technical aspects of the Voigtberg project. Murray Jones, P.Geo. is the Qualified Person for the purposes of National Instrument 43-101 and has reviewed the technical content of this news release. All rock samples were shipped to ALS Chemex Ltd of North Vancouver, an ISO 9001:2000 accredited laboratory, in sealed bags and analyzed for 34 elements by ICP-AES methods (Induced Coupled Plasma) and Au by standard Fire Assay-Atomic Absorption method. Internal laboratory standards were analyzed along with duplicates and blanks from the Voigtberg property.
BCGold will be the project operator as of November 1, 2006 and plans to review the Voigtberg project in detail over the next month to determine the next step appropriate for the Company.
About BCGold Corp.
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, primarily by joint venture with preferred partners in order to minimize share dilution and exploration risk.
On behalf of the Board of Directors,
Freeman Smith, P. Geo.
President and Chief Executive Officer
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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of future payments, expenditures and unit issuances and the timing and success of future exploration, development and production activities.
For further information, please contact:
Freeman Smith, P. Geo
President and Chief Executive Officer
Fax (604) 646-4526
Copyright © 2006 CCN Mathews. All rights reserved.