BC Gold Corp Discovery Near Mt Milligan

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By peterc on January 22, 2013. No Comments

BCGold Corp (TSX-V:BCG) announced results from a mobile metal ion (MMI) soil sampling survey on its 100%-owned Rainbow property in central British Columbia. The 926 ha Rainbow property is 3 km from the new Mt. Milligan Mine, which is currently being constructed by Thompson Creek Metals Company. The Mt. Milligan Mine has proven and probable mineral reserves of 482 million tonnes grading 0.39 g/t Au and 0.20% Cu, containing 6.0 million ounces gold and 2.1 billion pounds copper.

BCGold Corp.’s orientation MMI sampling program identified a strong copper-gold soil anomaly that measures approximately 350 m by 250 m and is open to expansion in all directions. The anomaly returned a strong gold response, with values up to 56 times background values, and is associated with a stream sediment anomaly that drains a 350 m by 700 m topographic high, with no outcrop exposure.

Additionally, the MMI sampling identified two copper soil anomalies that are also associated with stream sediment anomalies. These soil anomalies returned moderate copper MMI responses of 17 times background values, but overall copper grades ranged very high from 2,482 ppb to 6,340 ppb Cu. The two copper anomalies measure 400 m by 300 m and 600 m by 300 m, respectively.

All three MMI soil anomalies warrant follow-up work and are open for expansion. The anomalies are road accessible and located within 1 km of the Mt. Milligan access road. Please refer to the Rainbow property presentation on the Company’s website at http://www.bcgoldcorp.com/all_files/rainbow-pres-150dpi-jan-2013.pdf for additional information.

About the Rainbow Property

The Rainbow property consists of two mineral claims located within the Mt. Milligan property boundary. Previous exploration conducted on the property between 1988 and 1991 by BP Resources Canada Ltd. and Placer Dome Inc. included geological mapping, soil sampling, and airborne magnetic and ground induced polarization (IP) geophysics. The Rainbow property went dormant when the Mt. Milligan project was put on hold shortly afterwards.

Exploration was reactivated in 2008 when Terrane Metals Corp. completed a 1,458 line-km airborne magnetic-EM (HeliGEOTEM) survey over the Mt. Milligan and Rainbow properties to target satellite deposits associated with the Mt. Milligan porphyry system. Terrane Metals conducted stream sediment sampling using the BLEG (Bulk Leach Extractable Gold) technique, which identified copper and gold stream sediment anomalies that drain the Rainbow property.






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