Mar 5 2014
Banks Island Gold Ltd. (the "Company") is pleased to report an update on the Bob Zone bulk sample program at the Yellow Giant Gold Property, located on Banks Island, British Columbia.
The Company has completed underground development on the B30 level at the Bob Zone since its last update by news release on February 11th 2014. Mining crews commenced development in gold mineralization at the B30 level on February 19th and the first longhole blast was taken in the B10 level on February 24th.
The Company reports that processing of mineralization commenced on February 22nd and approximately 1,600t of mineralized material has been mined and processed as of February 28th. The Company has an additional 600t of mineralized material in broken inventory in underground stopes at present.
The development and longhole crews are currently working in the B30 level while extraction of the B10 stopes is underway. The Company is commencing shipments of concentrate from Banks Island this week.
The Company has been informed that the review process for its application for a major mining permit at Yellow Giant is now complete and has been submitted to the statutory decision makers. The Company anticipates a positive result and the receipt of its major mining permit in the near future.
Mr. Benjamin Mossman P.Eng, CEO of Banks Island Gold is the qualified person who reviewed and approved the contents of this news release.
The Company is a junior mining resource exploration company focused on exploring for and developing economically viable mineral resources. The Company's mineral property is located in British Columbia. For more information, please refer to the Company's website at Banks Island Gold Ltd..
ON BEHALF OF THE BOARD OF DIRECTORS
Benjamin W. Mossman, P.Eng
President, Director, & Chief Executive Officer