Did Barkerville Gold Mines Ltd. make one of the greatest Canadian gold discoveries in decades? If so, investors aren’t buying it just yet.
Until last week, Vancouver-based Barkerville was a little-followed junior mining company on the TSX Venture Exchange, one of hundreds. It is now in the spotlight because of a massive gold resource it reported at its Cow Mountain project in central British Columbia.
Barkerville said drilling at Cow Mountain has uncovered a staggering 10.6 million ounces of indicated gold resources. The company’s press release also stated the “geological potential” of Cow Mountain could be as high as 90 million ounces.
To put it in perspective, the legendary Timmins gold camp has produced about 70 million ounces. Less than 100 million ounces are produced globally each year.