Blind Creek acquires mining permit and royalty for historic Engineer Gold Mine, northwestern British Columbia
VANCOUVER, Oct. 16, 2017 /CNW/ - (TSX-V: BCK) – Blind Creek Resources Ltd. ("Blind Creek" or the "Company") is pleased to announce that the Company has received an amended Mines Act Permit from the Ministry of Energy, Mines and Petroleum Resources ("MEMPR"), Mines and Mineral Resource Division, that authorises Blind Creek to conduct exploration, underground mining and on-site milling activities at the 100% owned historic Engineer Gold Mine Property, detailed in a renewable Notice of Work and Reclamation Program ("NOW"), valid until March 31st, 2020. The permit was amended to reflect the change in ownership of the Engineer Gold Mine Property, situated 32 kilometres southwest of Atlin, B.C., from BCGold Corp. to Blind Creek Resources Ltd. (See Blind Creek News Release dated April 26, 2017)
Engineer Gold Mine Royalty Acquired by Posting $50,000 Reclamation Bond
Blind Creek is also pleased to announce that by way of a separate agreement, the Company has acquired the right, title, benefit and interest held by Pan Andean Minerals Ltd. ("Pan Andean") (formerly known as BCGold Corp.) in and to the 1% Net Smelter Royalty ("NSR") over the Engineer Mine Property acquired by Blind Creek earlier this year, by posting a new reclamation bond with the MEMPR in the amount of $50,000 to replace the bond previously provided by BCGold Corp. There are now no underlying royalties for the historic Engineer Gold Mine patented crown grants, previously owned and recently staked contiguous Blind Creek mineral claims at the Engineer Gold Mine Property.
Blind Creek Now Fully Permitted for Exploration, Mining and On-site Gold Production at Engineer Gold Mine
The amended Mines Act Permit supplements the water discharge permit the Company previously received from the British Columbia Ministry of Environment (See Blind Creek News Release dated July 13, 2017) that authorizes Blind Creek to discharge groundwater from the underground workings of the Engineer Gold Mine and effluent from the Company's 50 tonne per day gravity separation gold mill into Tagish Lake and the tailings impoundment, respectively, subject to a number of specific requirements.
Blind Creek is now fully permitted to conduct surface and underground exploration, mine de-watering, mining, development, and small-scale gold production at the Engineer Gold Mine.
2017 Engineer Gold Mine Exploration Program
The Company is awaiting exploration results from a recently completed 2017 geological mapping, sampling and MMI soil survey targeting additional narrow-vein high-grade and shear-hosted bulk tonnage gold mineralization south of Engineer Mine (proper) and on the southern Wann claims (See Blind Creek News Release dated August 17th, 2017). Furthermore, the Company intends to release an updated NI 43-101 technical report on the Engineer Gold Mine Property, authored by Mr. Darren O'Brien, P.Geo., in the very near-term. Results will provide additional basis for a significant exploration and test-mining / milling program at the Engineer Gold Mine Property in 2018.
About Engineer Gold Mine
Blind Creek Resources Ltd. acquired 100% interest in the historic and fully-permitted Engineer Gold Mine property from BCGold Corp. (now Pan Andean Minerals Ltd.) in February, 2017. Engineer Gold Mine produced 18,000 ounces gold and 9,000 ounces silver averaging 39 g/t gold and 18 g/t silver, respectively, in the 1920's. In a 2011 NI 43-101 technical report, SNOWDEN stated an Engineer Vein Inferred Resource (open to expansion) with 20,100 oz. of gold grading 1.75 oz/ton (60 g/t) in 10,400 tonnes, at a 25 g/t gold Cutoff.
Over the past 10 years BCGold spent >$4.7M at Engineer Gold Mine with a focus on property acquisition and consolidation, exploration for additional narrow-vein, high-grade and bulk tonnage gold mineralization, test mining, bulk sampling, test milling and mineral resource development. Since acquiring Engineer Gold Mine, Blind Creek has more than tripled the property size (currently 12,032 hectares) through recent staking.
Engineer Gold Mine is a "Porgera-style" epithermal gold-silver system with > 25 known veins and 2 major shear structures with excellent exploration potential for additional narrow-vein, high-grade and large bulk-tonnage, shear-hosted gold deposits. The property overlies >8 km of untested, 2nd order shear structures known to host large bodies of hydrothermal breccias with gold and silver mineralization. Numerous large, untested soil geochemistry anomalies occur on the property, including a 1.0 km X 0.5 km coincidental gold-silver-arsenic-antimony soil, magnetic and resistivity anomaly adjacent to the Shear Zone "A" structure, where previous drilling by BCGold defined a 400 metre strike length of mineralized hydrothermal breccia averaging up to 0.45 g/t gold over 35 metres wide. Blind Creek is positioning to conduct a significant exploration and test-mining / milling program at the Engineer Gold Mine Property in 2018.
About Blind Creek Resources Ltd.
Blind Creek is a Vancouver-based junior resource company focused on lead-zinc-silver and gold-silver project acquisition, exploration and development in Yukon (Blende Property), Northwest Territories (AB Property) and British Columbia (Engineer Gold Mine). The Company's flagship property is the Blende Property in north-central Yukon, one of the largest undeveloped zinc-lead-silver deposits in Western Canada. More recently the company has signed an agreement to acquire a 100% interest in the AB Property (MV-Type Zinc-Lead) in the Northwest Territories and purchased the historic and fully-permitted Engineer Gold Mine, situated 32 km southwest of Atlin, B.C.
For additional information please visit the company website www.blindcreekresources.com.
On behalf of the Board of Directors,
Mr. Brian P. Fowler, P.Geo.
President
Tel: (604) 617-8191
[email protected]
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.
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Blind Creek Resources Ltd. which may cause actual results, performance or achievements of Blind Creek Resources Ltd to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. 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 release.
SOURCE Blind Creek Resources Ltd.
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