|By Marketwired .||
|February 24, 2014 05:59 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/24/14 -- Bralorne Gold Mines Ltd. (the "Company") (TSX VENTURE:BPM)(OTCQX:BPMSF)(FRANKFURT:GV7) is pleased to provide the following update on its Bralorne gold project located near the historic mining camp at Gold Bridge, British Columbia.
Development work has focused on stope mining and preparing blocks for mining in the BK-3 zone since last November. Mining has been completed in two blocks in the BK-3 zone and development is underway on third stope. The 2014 plan is to continue to develop and process the BK-3 resource and develop other known resources to support an increased mill throughput.
Mill throughput averaged a record 115 metric tonnes per day for December, representing a 25% increase over the previous peak throughput. December production is presented below along with the totals for 2013 and output to date. "Over the past year the material processed was mostly from pre-production development, which was expected to be lower in grade than material mined from stopes. An increase in ounces recovered is expected in 2014 with the transition to stope mining".
The Company is seeking financing to expand mill throughput and for underground exploration & development. The next milestone will be an increase in mill throughput to 200 tons per day. The Company plans to continue milling as resources are developed and will increase the milling rate if and when sufficient resources are defined and developed. The Company cautions that a feasibility study has not been completed and it is to be determined if operations will be found to be economic. The mill is being operated to generate incidental revenue from the sale of gold dore bars and flotation concentrate to offset development costs.
Quality Assurance/Quality Control
Gold production is reconciled to gold contained in flotation and gravity concentrates. Flotation concentrate assays are performed at ALS Laboratories in North Vancouver, British Columbia, an accredited independent laboratory with quality monitored by internal standards. Check samples are done on composite samples collected by AH Knight and assayed by ALS Laboratories in North Vancouver, British Columbia, and umpire assays are performed by Alex Stuart Limited in Knowsley, England. Gold produced in gravity concentrate is reconciled from settlement assays received from the refiner. Check assays are performed on duplicate samples of gold dore by ALS Laboratories in North Vancouver, BC.
Mill Production Summary for December 2013 Total To Date DECEMBER 2013 (31.5 Months) ---------------------------------------------------------------------------- Metric Tonnes Milled 3052 27489 67725 % Mill Availability 86 89 77 Mill Throughput (metric tonnes / day) 115 99 93 Feed Grade, g/T 3.6 4.5 7.0 Gravity Gold Ounces 132.7 1820.8 7984.6 Flotation Con Metric Tonnes 37.4 405.2 1162.1 Flotation Con Grade (g/T) 146.4 118.6 142.1 Flotation Con Ounces 175.3 1539.4 5290.9 Total Recovered Ounces 308.0 3360.1 13275.5 % Recovery 87 85 88
Dr. Matt Ball, P.Geo., President and Chief Operating Officer of the Company, is the qualified person ("QP") as defined by National Instrument 43-101, who is responsible for the technical content of this document.
For more information, please visit our website at: www.bralorne.com.
ON BEHALF OF THE BOARD
Mathew Ball, President and Chief Operating 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.