VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2011) - BCGold Corp.
(TSX VENTURE:BCG)(PINK SHEETS:BCGOF) (or the "Company") is pleased to announce work crews have mobilized to the Companys Engineer Gold Mine property to commence Phase I of the exploration and development program recommended by Snowden Mining Industry Consultants Ltd.
("Snowden") (see press release dated May 25, 2011).
The Company also wishes to announce that the permit to dewater the lowermost levels of the historic Engineer Mine workings has been extended by the British Columbia Ministry of Environment to September 30, 2011.
BCGold Corp.
has budgeted $1.5 million to conduct the Phase I program at the Engineer Gold Mine property.
The program entails limited underground rehabilitation and dewatering of the lower mine workings, bulk sampling from surface trenching and underground, test mining to optimize head grade, and evaluation and optimization of the 30 tonne per day pilot mill circuit.
A property-wide exploration program, covering both the Engineer Gold Mine property and the recently acquired Gold Hill property, will include a 600 line-km SkyTEM airborne geophysics program, mapping, prospecting, surface trenching, and a 1,500 metre diamond drill program testing the bulk tonnage potential of Shear Zone A.
Phase I exploration is part of a $10.2 million exploration and development program recommended by Snowden in the April 2011 NI 43-101 Technical Report describing an Inferred Resource Estimate of 41,000 tonnes grading 19.0 g/t gold for the partially mined out Engineer and Double Decker veins (See press release dated March 4, 2011).
The report recommends a three-year, two-phase, $10.2 million work program to further explore the property for additional high-grade and bulk-tonnage gold resources, and to take the Engineer Gold Mine property into small-scale production in the near term.
The full report is available for download from the Companys website (www.bcgoldcorp.com).
Darren OBrien, P.Geo., Vice President Exploration for BCGold Corp., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
About the Engineer Mine
BCGold Corp.
owns a 60% interest in the Engineer Mine property with an option to earn a 100% interest.
Engineer Mine was a high-grade gold producer that came to peak production in the mid-1920s and ceased operation in the early 1930s primarily due to water ingress issues.
More than 560 kilograms of gold and 278 kilograms of silver were officially produced at realized grades exceeding 39 g/t Au and 20 g/t Ag, from high-grade epithermal quartz-carbonate veins on six of eight mine levels.
There are more than 25 known veins on the property and only four have undergone limited production and exploration to date.
All veins remain open at depth and little exploration has been conducted deeper than 200 metres below surface.
In October 2010 the Company consolidated its land position around Engineer Mine by signing an option agreement to acquire a 100% interest in the adjacent Gold Hill property.
The 2,100 hectare Gold Hill property includes the Happy Sullivan high-grade gold epithermal prospect and a 2.2 kilometre segment of the highly prospective Shear Zone "B" structure.
About BCGold Corp.
BCGold Corp.
(TSX VENTURE:BCG) is a Vancouver-based junior resource company focused on copper and gold exploration in under-explored historic and emerging mining districts in British Columbia and Yukon.
BCGold Corp.
acquires and develops conceptual, early and mid-stage exploration opportunities and advances them towards resource development by using internal expertise, engaging preferred joint venture partners, and creating strategic alliances with major exploration and mining companies.
Kinross Gold Corporation holds 9% equity interest in BCGold Corp.
On behalf of the Board of Directors,
Brian P.
Fowler, P.
Geo., President & CEO
Some statements in this news release contain forward-looking information.
These statements include, but are not limited to, statements with respect to future payments, expenditures and unit issuances and exploration, development and production activities.
These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Such factors include, among others, the timing of future payments, expenditures and unit issuances and the timing and success of future exploration, development and production activities.
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.
