INVESTOR RELATIONS SERVICES
In consideration for the services rendered, the Company has agreed to pay Mr. Smith the amount of $3,938 per month on a month to month basis unless terminated upon 30 days' notice by either party. Under the agreement, the Company has also granted Mr. Smith stock options for the purchase of 35,000 shares at a price of $0.85 per share exercisable on or before January 15, 2015. The options are subject to a stock option plan.
The Company is a Canadian junior mining and exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties. The Company's current project is a 100% interest in the Bralorne Gold Mine, BC.
For more information visit: www.bralorne.com.
For more information, please feel free to visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
"William Kocken"
__________________________________________
William Kocken
President & Chief Executive Officer
NEW ASSAY RESULTS FROM BK ZONE
BK Vein
Stoping commenced in April on the BK vein to extract the zone explored earlier this year by raise development. Following completion of an extraction drift and draw points, shrinkage stoping was initiated on April 15 and the first lift was completed on April 30. Preliminary results from the on-site laboratory for 39 assay traverses spaced at 2.4 m over 97 meters of strike length show the grade of the vein ranges from 1.1 to 266.5 g/T Au (0.032 to 7.77 oz/ton) with an average un-cut grade of 34.6 g/T Au (1.008 oz/ton) over a true width of 0.7 meters (2.4 feet). The average cut grade of the vein is 30.9 g/T Au (0.902 oz/ton) using the historic empirical cutting procedure (> 3.0 oz/ton cut to 3.0 oz/ton). The average (cut) grade of the lift estimated from the chip samples is 18.0 g/T Au (0.524 oz/ton) over an average mining width of 1.5 meters (4.8 feet). This first lift is estimated to have broken approximately 1400 short tons of ore grade material. Approximately 25% of this material or the "swell", which corresponds to the expanded volume of material after blasting, will be extracted and stockpiled on surface before the next lift is taken. The stope walls are competent, with spit sets being installed routinely for ground support. Overall, the results confirm the grade, continuity, and ground conditions as estimated from the exploration drift and raise development.
Underground chip and muck samples are collected by employees of the company and preliminary assays are performed by employees at the on-site assay laboratory. The fire assay procedure is followed using the metallic screen assay method for vein samples and 1 assay ton charge fire assays on wall rock samples. The metallic assay method is being used routinely to address assay variability in high grade samples due to the nugget effect caused by coarse particulate gold. Check samples are regularly submitted to Eco Tech Laboratories in Kamloops for verification at a frequency of 10%. Final assay results are pending check assay confirmation.
North Vein
Exploration is also underway on the North vein in the former King mine. Currently, an extraction drift is being driven in the footwall after which raises will be driven to access the vein above old workings, followed by sublevels to explore the vein. The target is a historic resource block that extends over a strike length of 85 meters (280 feet) from the 800 to the 700 Level (a dip length of 36 meters or 120 feet) with a nominal mining width of 1.5 meters (5.0 feet).
Dr. Matt Ball, P.Geo., Chief Operating Officer, is the Qualified Person responsible for the technical information contained in this news release.
For more information, please feel free to visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
"William Kocken"
__________________________________________
William Kocken
President & Chief Executive Officer
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 release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
WESTERN BK RAISE AVERAGED 35.23 g/T AU OVER A LENGTH OF 36.5 METERS WITH A TRUE WIDTH OF .79 METERS
WESTERN BK RAISE
The western raise was driven to a total of 36.5 meters (120 feet). The grade of the vein from 15 assay traverses ranges from 1.54 to 136.97 g/T Au (0.045 to 3.995 oz/ton) with an average grade of 35.23 g/T Au (1.028 oz/ton) over a true width of 0.8 meters (2.6 feet). The grade of the zone over a minimum mining width of 1.2 meters (4.0 feet) averages 25.2 g/T Au (0.736 oz/ton) uncut, or 22.9 g/T Au (0.668 oz/ton) using the historical mine cutting procedure of reducing assays over 3.0 to 3.0 oz/ton. The results are comparable to the average grade of the same mineralized shoot on the 800 Level drift, which is 24.8 g/T Au over 1.3m (0.722 oz/ton over 4.4 ft) along a strike length of 53.9 meters (177 ft). The vein at the top of the raise is mineralized, indicating that the raise did not reach the upper limit of the gold mineralization.
BK EXTRACTION DRIFT
280 feet of the extraction drift has been complete on the BK extraction drift during February 2010 and also the draw points No.1 thru No.4. Draw points No. 5 thru No.12 consist of another 360 feet of developments to be completed. When the extraction drift and draw points are done the crews will be ready to start stoping the ore zone. Upon completion the crews will begin to stockpile our target of 30,000 tons of ore to have a year worth of production ahead of us.
EASTERN BK RAISE
As previously announced on February 1, 2010, the eastern raise was driven to a length of 29 meters (96 feet). The grade of the vein from 11 assay traverses ranges from 2.78 to 60.7 g/T Au (0.081 to 1.770 oz/ton) with an average grade of 20.7 g/T Au (0.604 oz/ton) over a true width of 0.6 meters (1.9 feet). The average grade of the zone over a nominal mining width of 1.2 meters (4 feet) is 11.9 g/T Au (0.348 oz/ton).
NEW VEIN
A new, unexpected vein was cross cut in the new 400 Level Adit, which was recently broken through to the Bralorne 400 Level. The vein was encountered at 60 meters from the portal, just east of historic workings on the Coronation or 77 vein. The vein showed a banded texture that is characteristic of ore-bearing veins in the camp so it was explored by drifting to the east 7.3m and west 11m of the cross-cut. The grade of the vein from 10 assay traverses ranges from 0.79 to 66.65 g/T Au (0.023 to 1.944 oz/ton) with an average grade of 9.95 g/T Au (0.290 oz/ton) over a true width of 0.8 meters (2.7 feet). The grade of the zone over a minimum mining width of 1.2 meters (4.0 feet) averages 4.4 g/T Au (0.129 oz/ton) over an average width of 1.3 meters (4.2 feet). Top cutting was not required as there were no extreme high assays. The vein is interpreted to be a split off of the main Coronation (77 vein). Further investigation is planned to determine its potential extensions.
Underground chip samples were collected by employees of the company and preliminary assays were performed by employees at the on-site assay laboratory. Normal fire assay procedures were followed using 30g (1 assay ton) charges. Repeat analyses and/or metallics screen assays are routinely performed on high grade samples. Check sample pulps and rejects were submitted to Eco Tech Laboratories in Kamloops for verification. Most of the assay results reported above (56 out of 69) are check assay results from Eco Tech.
Dr. Matt Ball, P.Geo., and Chief Operating Officer, is the Qualified Person responsible for the technical information contained in this news release.
The Bralorne mine is located 150 air miles from Vancouver, BC. The Company is re‐developing the former and very successful Bralorne, Pioneer and King gold mines which rich with history, data and potential. From 1928 to 1971, these three operations produced 4.15 million ounces of gold from 7.9 million tons of ore (equaling a grade of 0.53 ounces per ton). Bralorne, Pioneer and King represent the largest historic gold producers in the Canadian Cordillera. The Company remains well funded with no long‐term or short‐term debt.
For more information, please feel free to visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
"William Kocken"
__________________________________________
William Kocken, President & Chief Executive Officer
BRALORNE GOLD MINES LTD. JOINS INFORMATION PANEL STOCKPROFILE.COM
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Bralorne is developing the unexplored gaps between the historic Bralorne, King and Pioneer gold mines of southwest British Columbia. Together, these three historic mines represent the largest historic gold producer in the Canadian Cordillera producing 4.1 million ounces of gold from 8 million tons of ore. The mine was developed on a classic gold quartz vein deposit, comparable in geological aspects to major gold deposits such as those in the well-known Timmins, Kirkland Lake, Red Lake, Yellowknife, Motherlode and Kalgoorlie districts. Recent discoveries between the Bralorne and King mines have opened up significant new mineralization. Phase III development and exploration, now underway, is focused on expanding new zones and outlining reserves for production at 120 tons per day in the next 12 months and then upgrade to 280 tons per day in 24 months. Bralorne's properties and infrastructure are fully permitted to advance to production and expand new & known resources. The company has no long term or short term debt and is wholly owned.
ON BEHALF OF THE BOARD
"William Kocken"
__________________________________________
William Kocken, President & Chief Executive Officer
BRALORNE UPDATES ASSAY RESULTS ON BK EAST RAISE AND REPORTS ON OTHER DEVELOPMENT
EASTERN RAISE
The eastern raise encountered significant mineralization from 8.5 meters (28 feet) to the top of the raise at 29 meters (96 ft). Preliminary results from the on-site laboratory were previously released and have been revised based on check assays and check samples, with assays being done at Eco Tech Laboratory in Kamloops. The revised grade of the vein from 11 assay traverses ranges from 2.78 to 60.7 g/T Au (0.081 to 1.77 oz/ton) with an average grade of 20.7 g/T Au (0.604 oz/ton) over a true width of 0.58 meters (1.9 feet). The average grade of the zone over a nominal mining width of 1.2 meters (4 feet) is 11.9 g/T Au (0.348 oz/ton).
The revised grade is slightly lower than the preliminary estimate; re-sampling and check assays by the metallic method done by Eco Tech Laboratories show lower results compared to high grade preliminary assays. The difference is attributed to a significant nugget effect due to the mineralization containing coarse particulate gold.
The vein at the top of the raise is well developed and in the last two sample traverses assayed 60.7 g/T over 0.6 meters and 45.7 g/T over 0.8 meters (1.77 oz/ton over 2.0 ft and 1.333 oz/ton over 2.5 ft). This is very encouraging because previous results from underground drilling indicated low grade in this vicinity.
Underground chip and muck samples are collected by employees of the company and preliminary assays are performed by employees at the on-site assay laboratory. Normal fire assay procedures are followed using 1 assay ton charges. Repeat analyses and/or metallic screen assays are routinely performed on high grade samples. Check sample pulps and rejects are submitted to Eco Tech Laboratories in Kamloops for verification. Assay results for the western raise are pending verification.
OTHER DEVELOPMENT
BK VEIN
Work is continuing on the BK vein on the 800 level with development of an extraction drift and drawpoints.
400 LEVEL ADIT
As January 29, 2010 a total of 204 meters (670 feet) of development has been done on the new 400 Level adit since it was started in early November, 2009. The work includes trackless drift to provide access to the Bralorne mine 400 Level, sub-drifting on a newly discovered vein, a diamond drill cut-out and safety bays. The drift is now 153 meters (503 ft) from the portal and is targeted to break through to the 400 Level in late February. Plans are to install track once the breakthrough is achieved. A Notice of Work has been filed to conduct exploration drifting and raising on the Taylor and 51BFW veins on the 400 Level.
NORTH VEIN
The North vein in the former King mine has also been selected as another target for underground exploration. Plans are being made to drive a sublevel and raises on this vein to explore a historic resource block estimated at 10,900 tonnes grading 11.0 g/T Au over 1.2 meters (12,000 tons grading 0.321 oz/ton Au over 4 ft). Note that due to its historical nature, this resource is not compliant with NI 43-101 and its potential quantity and grade are deemed conceptual in nature. There has been insufficient exploration to define the mineral resource and it is uncertain if further exploration will result in confirmation of the resource.
Dr. Matt Ball, P.Geo., recently appointed as Chief Operating Officer, is the qualified person responsible for the technical information contained in this news release.
For more information, please feel free to visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
ON BEHALF OF THE BOARD
"William Kocken"
__________________________________________
William Kocken, President & Chief Executive Officer