NEW RESOURCE IDENTIFIED ON BK VEIN
Bralorne Gold Mines Ltd. (the �Company�) is pleased to report results from on-going exploration at the Bralorne property, Bridge River Area, B.C.A resource has recently been estimated for the zone intersected by drilling on the upper western part of the BK vein (refer to previous news release of Nov 10, 2010). The new �BK-3� zone has been divided into upper and lower portions based on grade distribution and planned development. The upper portion of the zone has an average grade of 14.3 g/T gold (0.418 oz/ton) at a minimum mining width of 1.2 meters (4ft), whereas the lower potion averages 5.7 g/T gold (0.167 oz/ton). Overall, the vein averages 17.6 g/T gold (0.512 oz/ton) over 0.7 meters (2.3 ft). The BK-3 zone extends at least 170 meters (550 feet) above the 800 level, is 38 to 130 meters (125-425 feet) in strike length, and is open to the west and upwards. The preliminary resource estimate for the BK-3 zone is given in Table 1 below. It is considered preliminary until quality control check analyses at a second commercial laboratory are completed.
Table 1. Resource Estimate for the BK-3 Zone.
| | | Indicated | | | | Inferred | | | | Vein | tons | opt Au
| Tonnes
| g/T Au
| tons
| opt Au
| Tonnes
| g/T Au
| Upper BK3
| 12,154 | 0.418 | 11,026 | 14.33 | 21,111 | 0.353 | 19,152 | 12.10 | Lower BK3
| 3,756 | 0.167 | 3,407 | 5.73 | 8,165 | 0.174 | 7,407 | 5.97 | | Total | 15,910 | 0.359 | 14,433 | 12.30 | 29,276 | 0.303 | 26,559 | 10.39 | | | | | | | | | | | Diluted 15%
| 18,297 | 0.312
| 16,598 | 10.70
| 33,667 | 0.264
| 30,543 | 9.04
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The effective date of this estimate is November 15, 2010.
Estimation Parameters
The resource estimate for the BK 3 Zone was prepared using block modeling methods for Surpac software, which is a new approach to resource estimation at this property. Nevertheless, the parameters chosen approximate those previously used with polygonal methods as described in the 2009 Technical Report. Initially, composites are calculated from the drill hole intercepts to a 4 foot minimum true thickness, with individual assays greater than 3.0 ounce per ton gold top cut to 3.0 ounce per ton. A three-dimensional surface of the vein is then constructed from the drill hole intercepts, which is used to create a 4-foot thick solid model of the vein. The block model was created using a block size of x=8, y=4, z=8 feet, which matches a nominal mining unit for shrinkage stoping. The block modeling process estimates the Au value of each block by inverse distance cubed weighting, using between 1 and 3 composite values within a three dimensional search ellipsoid. The ellipsoid approximates the orientation of the mineralized shoot, plunging 69 degrees towards azimuth 082, and has a maximum radius of 100 feet and a length of 200 feet down plunge. The grade and tonnage is then calculated for blocks that intersect the vein model, weighted by the percentage of each block within the model. Finally, a tonnage dilution of 15% was added.
Development Concept
Development of the new BK-3 resource is now being planned. The BK decline that was collared in 2009 will be continued about 300 meters to intersect the zone. Drifting to the limits of the mineralization is then planned. At least one raise is planned to be driven to connect this drift with the main 800 haulage level, which will help to define the grade in the lower part of the zone. One or more raises are planned to be driven up from the new drift to explore the upper part of the zone. One or more sublevels are planned to be developed successively higher on the vein, and connected by raises. Shrinkage mining can then be started from the 800 level and/or the sublevels driven from the access decline. This is a preliminary development concept that is subject to change as the grade distribution is further defined by the exploration development.
The new resource is expected to more than replenish what will be extracted from the stope currently being mined on the BK vein from the 800 level. Other resources above the 8 Level, and the general nature of the property and the BK zone, are given in the report titled �Technical Report on the Bralorne Pioneer Mine Property, Resource update and Exploration Proposal�, dated June 03, 2009.
Dr.
Matt Ball, P.Geo., Chief Operating Officer for the Company, is the qualified person who prepared or supervised the preparation of technical information contained in this news release.
Board of Directors Update
Bralorne wishes to announce that Mr.
Brandon Munday has resigned his position as Director of the Company. We thank Mr.
Munday for his time and efforts and wish him every success in the future.
For more information, please visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
"William Kocken"
________________________________________
William Kocken, President & Chief Executive Officer
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