NEWS RELEASE
January 25,
2012
No: 12-04 TSX-V SYMBOL: BKR
Berkwood Reproduces Initial Mineral Resource Estimate on the
Prospect Valley Gold Project, Merritt, BC
Berkwood Resources Ltd. ("Berkwood") announced on January 3,
2012 that it again controls 100% of the Prospect Valley Gold
Property. After regaining control of the project, Berkwood
reviewed previously published NI43-101 compliant Mineral
Resource estimates for the property (see Altair Ventures news
release dated October 19, 2011 at www.sedar.com) and is
formally reissuing these estimates now in Berkwood's name.
The North and South Discovery Zones host a combined inferred
mineral resource estimated at 166,000 ounces gold grading
0.511g/t gold above a cut-off grade of 0.30g/t gold. The
reissued NI 43-101 compliant report by Henry J. Awmack and
Gary H. Giroux will be filed on www.sedar.com shortly.
The Prospect Valley Gold Property is road-accessible, three
hours driving time from Vancouver, and situated in proximity
to good infrastructure and logistics near Merritt, British
Columbia. It covers 107 km² encompassing a number of
structurally controlled epithermal gold prospects with
potential to host bulk tonnage and/or high grade vein
deposits. The NI43-101 compliant Mineral Resource estimates
were calculated on two of these gold prospects, the North
Discovery Zone and South Discovery Zone. The zones remain
open for expansion and the property is host to a number of
other gold prospects not yet drilled.
Mineral Resource Estimate Methodology
The Mineral Resource study used a database of 45 drill holes
totaling 6,940 metres completed between 2006 and 2010 and
containing 95 down hole orientation surveys and 3,609 assays.
Using a 0.04g/t gold cut-off, 2 three dimensional solids were
built to constrain the North and South Discovery zones.
Drill holes were then compared to these solids and individual
assays were tagged if inside or outside the solids. Of
the individual assay intervals within the mineralized solids,
95% were less than 2m in length. As such, uniform 2.5m
composites were produced that honoured the solid
boundaries. No dilution was incorporated. Grade
continuity for gold was examined using pairwise relative
semi-variograms within the combined North and South zone
composites. The 2 domains were combined for variography
since they lined up along the Early Fault Zone and Early
Fault Zone Breccia. A block model with blocks of 10m x
10m x 5m in dimension was superimposed over the mineralized
solids. The average specific gravity of 2.55 g/cc was
used to convert volume to tonnes. Grades for gold were
interpolated into blocks containing some percentage of North
or South zone mineralized solids by ordinary kriging. For
blocks in the North Zone only North Zone composites were used
and likewise for blocks in the South Zone. The kriging
exercise was completed in a series of 4 passes with the
search ellipsoid for each pass a function of the
semivariogram range.
Based on this study, the delineated mineralization of the
North and South Discovery Zones were classified as a NI43-101
compliant inferred mineral resource. Although the drill
density is not sufficient to classify any material as
measured or indicated, the resource calculations tabulated
below assumes one could mine to the limits of the mineralized
solids. A possible open-pittable economic cut off grade of
0.3 g/tonne Au has been highlighted, although no economic
studies have been done to date. The effective date for
this reissued resource is June 30, 2011.
Table 1: All Blocks - Inferred
Au Cut-off (g/t) | Tonnes > Cut-off (tonnes) | Grade > Cut-off Au (g/t) | Contained Ounces Au |
0.20 | 17,643,000 | 0.398 | 226,000 |
0.30 | 10,077,000 | 0.511 | 166,000 |
0.40 | 5,926,000 | 0.628 | 120,000 |
0.50 | 3,768,000 | 0.733 | 89,000 |
0.60 | 2,458,000 | 0.832 | 66,000 |
0.70 | 1,632,000 | 0.927 | 49,000 |
0.80 | 1,079,000 | 1.020 | 35,000 |
0.90 | 709,000 | 1.109 | 25,000 |
1.00 | 458,000 | 1.198 | 18,000 |
1.10 | 312,000 | 1.271 | 13,000 |
1.20 | 185,000 | 1.356 | 8,100 |
1.30 | 103,000 | 1.445 | 4,800 |
1.40 | 47,000 | 1.570 | 2,400 |
1.50 | 27,000 | 1.658 | 1,400 |
These results can be subdivided into North and South Zone
Resources.
Table 2: North Zone - Inferred
Au Cut-off (g/t) | Tonnes> Cut-off (tonnes) | Grade > Cut-off Au (g/t) | Contained Ounces Au |
0.20 | 8,842,279 | 0.330 | 94,000 |
0.30 | 3,955,976 | 0.433 | 55,000 |
0.40 | 1,834,288 | 0.538 | 32,000 |
0.50 | 856,224 | 0.648 | 18,000 |
0.60 | 390,109 | 0.772 | 10,000 |
0.70 | 218,817 | 0.873 | 6,000 |
0.80 | 107,586 | 1.005 | 3,000 |
0.90 | 59,943 | 1.132 | 2,000 |
1.00 | 35,718 | 1.269 | 1,500 |
1.10 | 28,050 | 1.331 | 1,200 |
1.20 | 19,125 | 1.414 | 900 |
1.30 | 11,475 | 1.533 | 600 |
1.40 | 6,375 | 1.693 | 300 |
1.50 | 6,375 | 1.693 | 300 |
Table 31: South Zone - Inferred
Au Cut-off (g/t) | Tonnes> Cut-off (tonnes) | Grade > Cut-off Au (g/t) | Contained Ounces Au |
0.20 | 8,801,000 | 0.466 | 132,000 |
0.30 | 6,121,000 | 0.561 | 110,000 |
0.40 | 4,092,000 | 0.668 | 88,000 |
0.50 | 2,912,000 | 0.757 | 71,000 |
0.60 | 2,068,000 | 0.844 | 56,000 |
0.70 | 1,413,000 | 0.935 | 42,000 |
0.80 | 972,000 | 1.021 | 32,000 |
0.90 | 649,000 | 1.107 | 23,000 |
1.00 | 422,000 | 1.193 | 16,200 |
1.10 | 284,000 | 1.266 | 11,600 |
1.20 | 166,000 | 1.349 | 7,200 |
1.30 | 92,000 | 1.434 | 4,200 |
1.40 | 41,000 | 1.551 | 2,000 |
1.50 | 20,000 | 1.646 | 1,100 |
Henry J. Awmack, P.Eng. of Equity Exploration Consultants
Ltd. and Gary H. Giroux, P.Eng. of Giroux Consultants
Limited, both Qualified Persons under the definition of
Canadian National Instrument 43 101, are responsible for the
mineral resource information in this new release. Both are
independent of Berkwood applying all of the tests in section
1.5 of NI 43 101. The property was visited by Mr.
Awmack in July 2011. George Gorzynski, P.Eng., a
Director of Berkwood and a Qualified Person under the
definition of Canadian National Instrument 43-101, is
responsible for the technical information in this news
release other than information directly related to the
mineral resource estimates.
Future Plans
These mineral resource estimates represent an initial
encouraging compilation for two partially drill tested gold
prospects on the Prospect Valley Property. These zones both
remain open for expansion to depth and along strike. Notably
the gold grade of the Discovery South Zone increases with
depth where additional drilling is proposed. A number
of other gold prospects and anomalies known on the property
have yet to be explored. Berkwood is now making plans for the
2012 exploration season to expand the known gold zones and
carry out exploration on the balance of the large 107 km²
property.
About Berkwood Resources
Berkwood now holds a 100% interest in the Prospect Valley
Gold Property near Merritt, BC. To date, several areas
of gold mineralization have been identified on the 107 km²
property. The majority of historic drilling has taken
place in the centre of the claim block along a prominent
north-northeast trending linear zone. This drilling
outlined NI43-101 compliant Mineral Resources totaling
166,000 ounces grading 0.511 g/t gold above a cut-off of
0.30g/t gold at the combined Discovery South and Discovery
North Zones. The zones remain open for expansion and other
known zones of gold mineralization have yet to be
drilled.
Berkwood also has a 100% interest in the Cimandiri Gold
Property in Indonesia, located 120km south of Jakarta,
approximately 3 hours driving time. Railway lines are
nearby, with the closest rail station located only 8km from
the property. The project is located 9km southwest of
the Cikondang Gold open pit mine. Berkwood has carried
out initial mapping and geochemical sampling during the first
phase of exploration and will continue to report material
results as they are received.
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Karim Sayani, Corporate Communications
Tom Steer, Media Relations Manager
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On Behalf of Berkwood Resources,
Brian Buchanan, President and Director
This Berkwood News Release contains certain
"forward-looking" statements and information
relating to Berkwood that are based on the beliefs of
Berkwood's management as well as assumptions made by and
information currently available to Berkwood's management.
Such statements reflect the current risks, uncertainties and
assumptions related to certain factors including, without
limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors
and strategic partners, the interest rate environment,
governmental regulation and supervision, seasonality,
technological change, changes in industry practices, and
one-time events. Should any one or more of these risks or
uncertainties materialize, or should any underlying
assumptions prove incorrect, actual results and
forward-looking statements may vary materially from those
described herein. Berkwood does not assume the obligation to
update any forward-looking statement.
Neither the 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 news release.
distribué par | Ce noodl a été diffusé par Berkwood Resources Ltd. et initialement mise en ligne sur le site http://www.berkwoodresources.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-25 17:12:53 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |