Source
MARKET NEWS
Date 04/24/2014
Time 09:21:42 AM
Company
Birch Hill Gold Corp.
Title Completes
Acquisition of Claims Internal to Cold
CDNX Symbol: BHG
Press Release
BIRCH HILL GOLD CORP ("BHG-V")
- Completes Acquisition of Claims Internal to Coldstream Property
Birch Hill Gold Corp. ("Birch Hill" or the "Company") announces
that further to the Company's press release of October 30, 2013 Birch
HIll has completed the acquisition of the N1, N2 and N3 patented claims
(the "N Claims") that lie internal to the Company's Coldstream
property, from a private Ontario corporation. The three contiguous
claims total approximately 114 hectares and cover 1.5 kilometres of a
favourable structural corridor that links the Company's East Coldstream
deposit with the past producing North Coldstream Mine. The N Claims
were initially staked to cover the possible eastern strike extensions
of the massive sulphide copper mineralization associated with the North
Coldstream mine.
The N Claims cover portions of the past producing North Coldstream
mine with recorded production of 102 million pounds copper, 22,000
ounces gold and 440,000 ounces silver from 2.7 million tons ore of
Archean mafic hosted, possibly VMS genesis (or, possibly IOCG). The N
claims also lie immediately to the WSW of the Company's East Coldstream
Deposit (previously known as the OG Deposit) which hosts an indicated
resource of 2.25 million tonnes at a grade of 1.05 grams/tonne Au
(76,000 ounces) and an inferred resource of 16.975 million tonnes at a
grade of 1.01 grams/tonne Au (549,000 ounces) both at a 0.6 gram/tonne
Au cut off. (See 2011 43-101 Technical Report by TetraTech/Wardrop on
SEDAR and Company's website).
The majority of prior exploration on the N claims took place in
the 1950s and 1960s appears to have been focused on VMS style copper
mineralization with little effort made at assessing the gold potential
of the property. A review of historical information indicates the N
Claims have not been systematically explored since the 1960s, with the
majority of work being underground exploration drifts from the North
Coldstream mine. Historic records studied to date have only identified
three drill holes ( ~626 metres) completed to date, most of which are
interpreted to have stopped short of what is believed to be the most
favourable sections of the interpreted structural corridor.
Compilation of the limited data available including historic drill
logs and underground maps from the North Coldstream mine suggests areas
of sheared and altered metavolcanics and feldspar porphyritic intrusive
were intersected in the limited drilling and mapped in the underground
workings. The sheared and altered metavolcanics and feldspar
porphyritic intrusive are directly associated with the majority of the
East Coldstream mineralization.
A review of the limited data available from the North Coldstream
mine indicates that only material with visible copper mineralization
was sent for assay rendering the gold potential of the Archean volcanic
sequence essentially untested.
"This acquisition presents an exceptional opportunity as it is not
often that ground that has not been explored for gold potential located
within a prolific gold belt in a readily accessible area of Ontario
comes available," stated Barry Girling, President and CEO of Birch Hill
Gold.
Qualified person
R.S. Middleton, P.Eng, Exploration Manager of Canoe Mining
Ventures Corp., is a qualified person as such term is defined in NI
43-101 and has reviewed and approved the technical information and data
included in this press release.
Additional information and corporate documents may be found
onwww.sedar.com and theBirch Hillwebsitewww.birchhillgold.com.
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.
For Further Information:
Barry Girling
President
Birch Hill Gold Corp.
(604) 681-0405
Email: info@birchhillgold.com
Forward Looking Statements
This news release includes certain forward-looking statements or
information. All statements other than statements of historical fact
included in this release or other future plans, objectives or
expectations of Birch Hill Gold Corp. ("Birch Hill") are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from Birch Hill's
plans or expectations include risks relating to the actual results of
current exploration activities, fluctuating gold prices, possibility of
equipment breakdowns and delays, exploration cost overruns,
availability of capital and financing, general economic, market or
business conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time to
time in the filings made by Birch Hill with securities regulators.
Birch Hill expressly disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.
TSX Venture closing price for BHG-V
Date: 2014/04/23
Closing Price: 0.11
TEL: (604) 681-0405
Birch Hill Gold Corp.
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