OperationsThe company has invested the last 18 years consolidating its mineral tenure in the Cariboo Mining District and now has interest in 117,442.5 ha of mineral claims and 2,462.7 ha of placer claims and leases at the Cariboo Gold Project as well as 9,839 ha of mineral interests at the QR Project which includes a 3,164 ha mineral lease for a combined total of 127,281.5 ha of mineral interests and 2,462.7 ha of placer interests. These including three historic groups of contiguous Crown-Granted mineral claims, namely the Cariboo Group, Island Mountain Group and Mosquito Creek Group, as well as a large block of mainly contiguous mineral tenures roughly centered on the Town of Wells, which is located approximately 85 km east of Quesnel, British Columbia
The Cariboo Gold Fields have had a rich and extensive history starting with the discovery of placer gold in the 1860's. Recorded production from the company's property and surrounding area is approximately 2.6 million ounces of placer gold and 1.2 million ounces of lode gold averaging 0.40 oz/t gold from mainly mesothermal quartz vein mineralization and 0.60 oz/t from sulphide replacement style mineralization during the period 1933 to 1967.
Exploration drilling by the company commenced in May 1995 underground on the Gold Quartz Mine on Cow Mountain and continued till August 1998.
In September 1998 drilling commenced on the BC Vein on Barkerville Mountain and in March 2000 Bonanza Ledge style gold mineralization was discovered in the foot wall of the BC Vein. In the winter of 2004 -- spring 2005 an underground bulk sample of 10,000 metric tons was extracted from the Bonanza Ledge on the south west flank of Barkerville Mountain and processed at Imperial Metals Mount Polley Mine. In Sept of 2009 a positive prefeasibility was received for an open pit mine at Bonanza Ledge.
In February 2010, Barkerville Gold completed the acquisition of the QR Mine & Mill. The QR Mine & Mill is located roughly 110km from the town of Wells and is initially the intended milling facility for ore from the Bonanza Ledge gold mine. Mill refurbishment began at QR Mine in Feb 2010 and subsequently underground mining in the West zone began, and in September 2010 the company poured its first gold dore bar at the QR mill facility. Production mining at the West Zone continued until December 2011.
In November 2010 the Company purchased the Gold Stream Mill located in Revelstoke B.C., to be relocated to Wells B.C. pending permits.
In December 2011 the Company received a small mines permit to open pit mine Bonanza Ledge on Barkerville Mountain. The Company is awaiting final permits to process ore from Bonanza Ledge at the QR mill.
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A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, the Company is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon
*please refer to cautionary note