Sunday, November 4, 2012

J. Frank Callaghan - Barkerville Gold - BGM.v - UPDATE


Barkerville Gold Mines Ltd. has provided an additional update to its shareholders on the status of its response to the cease trade order (CTO) issued by the British Columbia Securities Commission (BCSC) as disclosed in the company's press release dated Aug. 15, 2012, as well as a project update for the QR mine and the Bonanza Ledge mine.

The company reminds shareholders that the CTO will remain in place until the company files a National Instrument 43-101 technical report acceptable to the BCSC addressing all technical disclosure concerns. The company's directors and management, geological and engineering consultants, contractors, labs, and staff have been working diligently to prepare a comprehensive report, and it is nearing completion.

To assist the author, Peter George of Geoex Ltd., in the National Instrument 43-101 report, the services of Mintec Inc., Apex Geoscience Inc., Tenerox Geoservices, F. Wright Consulting Inc., Lorax Environmental Services Ltd., Knight Piesold Ltd., ALS Group, Inspectorate Canada, Amine-Fairbase Inc. and Snowden Mining Industry Consultants Pty., to name a few, have been retained by the company over the years and some more recently. Their work will form part of the appendicles to the report of Geoex."

A body really has to wonder what Mr. Callahan continues to see in the rock dog responsible for this complete and total national disgrace. By any possible measure Mr. George is no longer needed anywhere near this project. (Or, given that ridiculous track record, anywhere near securities either.)®ion=C

Peter T. George

Latest and greatest for poor stuckholders of Barkerville Gold (BGM.v) is a sudden, unexpected rush to poke enough holes to produce a REAL 43-101. Good luck stakeholders. Frank has shot himself in the foot stupid this time and the only way outta this mess is with the rock solid, unstroked, fukkin truth ... something completely foreign to career promoters like Mr. Callahan.

"Barkerville Gold Mines Ltd. has provided an update to its shareholders on the status of its response to the cease trade order issued by the B.C. Securities Commission as disclosed in the company's press release dated Aug. 15, 2012.

The company is advised that the CTO will remain in place until the company files a technical report acceptable to the BCSC and addresses all technical disclosure concerns.

Further to the news release of June 6, 2012, the company confirms that it has recently engaged Snowden Mining Industry Consultants Pty. to assist the company in satisfying the conditions of the CTO and continues to have a dialogue with the BCSC in an effort to satisfy its concerns.

As part of the technical review requested by Snowden, the company advises that it has completed 14 surface diamond drill holes, of which nine were completed as twin holes, totalling 2,759.4 metres (9,053.1 feet) on Cow Mountain at the Cariboo gold project near Wells, central B.C., between Sept. 22 and Oct. 14, 2012. The total footage includes five drill holes abandoned due to hitting shafts and/or underground workings before target. The drilling was done respectively by four drill rigs of three drill contractors, namely Standard Drilling & Engineering Ltd. of Vancouver, B.C. (two drill rigs); Armstrong Drilling Ltd. of Armstrong, B.C. (one drill rig); and Lone Peak Drilling of Kimberley, B.C. (one drill rig). All the drill holes are being logged and sampled, including measuring bulk density of the drill core. Assay results of these drill holes will be released when available.®ion=C

I suppose it was only a matter of time until career promoter Mr. Frank Callahan found his smiling contenence here. Even considering the man, Frank has REALLY stuck his pee pee into a hornet's nest this time.

So whats um, the deal?

Barkerville Gold released news of a 10.6m oz indicated resource, a report that was jaw dropping in terms of size and the fact the previous was something around 600k ozs.

Frank then used the very last of the 45 days before releasing the 43-101 thats SUPPOSED to support the News. Well surprise, the report was massaged (indicated down to 6.6m implausbile ozs) and even so and from all accounts will NEVER support the ridiculous news release, ever.
Well the BCSC was sleeping as usual for the initial release of Barkerville news and were only awakened from that permanent snooze with the howls of millions as the story went National. The Financial Post, Northern Miner, and other influencial writers went to work while the local Vancouver press were silent.

The highly respected Mr. Brent Cook put it well and mildly ...

"Let’s get this out of the way at the start: The technical report is deficient with regards to the inclusion of details of the project database and many aspects of the resource modeling procedures; so much so that a complete understanding of the process and conclusions could not be arrived at."
THIS TIME the regulators took notice and the paper was halted with a CTO.
The Northern Miner had this to say

"The BCSC released no further details as to how exactly the report, prepared by geologist Peter T. George, was non-compliant, but others have raised their own concerns on the contents. Garth Kirkham, chairman of the best practices committee at the Geological Society of Canadian Institute of Mining, Metallurgy, and Petroleum (CIM) said in a phone interview that the report misses on a number of criteria, and overall is very thin on details.
“First and foremost, it does not comply with CIM best practices, which, when you’re doing a 43-101, that is a requirement,” Kirkham said, noting that the methods, the validation and verification of data, and a whole checklist of things don’t comply.

For Kirkham though, the biggest source of concern is the sample data on which the resource was based. He sifted through the lengthy sample database in the report that apparently backed up the resource, and found that while the database shows roughly 125,000 foot-long samples, only 22,355 samples were plugged into the Amine software George used to calculate the resource."

TORONTO, Nov. 29 /CNW/ - Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) ("Rubicon") is pleased to provide a NI 43-101 compliant inferred mineral resource estimate for the F2 Gold System, part of its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario.

The inferred mineral resource estimate was prepared by Geoex Limited.

February 14, 2011 - Amended NI 43-101 Technical Report for Rubicon’s Phoenix Gold Project

Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (the "Company") announced today that, as a result of a review by the British Columbia Securities Commission of the Company's recently filed NI 43-101 technical report containing its Phoenix Gold Project mineral resource and geological potential estimates for the F2 Gold System, the Company expects to file an amended technical report for the Project. The Company will make a timely announcement if any material changes to the estimates result from an amended report.
December 15, 2005 International KRL Resources Corp. Files 43-101 Report on the Nor Property. International KRL Resources Corp. (the Company) has filed with the B.C. Securities Commission an independent NI 43-101 compliant, technical report on its NOR Property located in the Richardson Mountains, Yukon. The author of the report is Peter T. George, P. Geo., a consulting geologist based in Ontario.

"Based on the results of both historical work and the 2005 exploration data, Mr. George compares the primary characteristics of the NOR and the Olympic Dam deposit, and concludes that the NOR Property warrants an intensive exploration program to test the potential for a large Olympic Dam-type body."

Thursday, September 7, 2006 - International KRL Resources Corp. (TSX-V:IRK) today announced that it has suspended its diamond drill program on the NOR (IOCG) project in the Yukon. The remaining core has been sent to Acme Analytical Labs in Vancouver this week.