2010 Mining Explorers: BCGold Corp.
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Last updated 10/31/2010 at Noon
BCG: TSX-V
President and CEO: Brian P. Fowler, P. Geo.
Chief Financial Officer: Larry M. Okada
BCGold Corp., organized in 2006 in British Columbia, is a Vancouver-based resource company focused on conceptual, early and mid-stage copper and gold exploration opportunities in British Columbia and Yukon Territory. Among the junior's key projects are its Carmacks copper-gold properties in central Yukon.
In July, BCGold accelerated its final payments under the Minto-Carmacks properties agreement with Yukon prospector Shawn Ryan by making a C$50,000 cash payment and issuing 100,000 units, which comprised of 100,000 common shares and 50,000 warrants, to acquire 100 percent interest in the properties.
The company optioned the Toe and Pepper properties north of the Minto Mine in Yukon to Kestrel Gold Inc. and Goldbard Capital Corp., respectively.
Each property has a C$350,000 drill program commitment for 2010.
BCGold planned to drill test the WS porphyry copper-gold target immediately south of Western Copper Corp.'s Carmacks Copper Project.
The WS target is two large bulls eye magnetic anomalies, the largest and strongest magnetic and induced polarization signatures that BCGold has obtained in the region.
The junior's exploration continues to benefit from exploration grants provided by the Yukon government, including C$121,330 for fiscal 2010 exploration work.
BCGold also is exploring the Engineer Mine property, situated 32 kilometers, or 20 miles, west of Atlin in northwestern British Columbia, where it has an option to earn a 100 percent interest in the property and has spent in excess of C$1.5 million in exploration on the property since 2007. In July, BCGold reported that its Phase I underground drill program at Engineer Mine had completed five holes drilled for 640 meters. Coarse visible gold was observed in Drill Hole BCGE10-01, which intersected the Double Decker Vein 21 meters below the deepest mine level number eight. The vein-intercept averaged 22.32 g/t gold and 7.94 g/t silver over 0.96 meters.
The junior planned to drill-test depth extensions of high-grade stopes of the Engineer and Double Decker veins from underground, between the fifth and eighth levels of the mine. It is on the eighth level, along the Double Decker Vein, that historic sampling records indicate a 24.7-metre section that averaged 38.0 g/t gold, containing a 10.0-meter interval averaging 84.3 g/t gold, across the width of the drift.
BCGold also planned to explore target areas on the 2,900-hectare Voigtberg bulk tonnage "porphyry" property situated in the Galore Creek Camp in northwestern British Columbia not previously investigated and to develop them for drill testing in 2011. BCGold has an option to earn up to a 70 percent interest in property.
BCGold also is exploring for blind porphyry copper-gold targets in British Columbia's Quesnel Terrane and has budgeted up to C$250,000 for generative exploration work in British Columbia and Yukon in 2010.
Cash and short-term deposits: C$1.26 million (at May 31, 2010)
Working capital: C$1.36 million (at May 31, 2010)
Market capitalization: C$6.254 million (Sept. 6, 2010)
1400, 625 Howe Street
Vancouver, British Columbia
Canada V6C 2T6
Tel: 604-646-1589
Fax: 604-642-2411
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