In its entirety:
During the past year Barker has taken advantage of the lull in the resource sector, to prepare the Company for the anticipated next leg up in the bull market, through strategic corporate planning and by preparing key high potential exploration projects for the next phases of exploration.
2012 exploration field work was kept to a minimum, except, at the Frank Creek and Black Bear projects where drilling related activities occurred.
Although Kuroko style precious and base metal massive sulphides are the primary target at Frank Creek, a new significant gold discovery was announced in January which included an impressive intercept of 3.8 g/t gold over 22 metres. Frank Creek has drawn deserved attention from major companies and governments around the world and in 2012 property visits were conducted by a number of major entities for the purpose of evaluating the property for a possible joint venture partnership. Should any discussions lead to a letter of intent or memorandum of understanding it will be disclosed in a news release at that time.
Exploration activities in 2013 are expected to follow up from this
important gold discovery as well as to continue testing the high potential VMS targets defined from past programs. Barker completed initial drilling on the Black Bear project in 2012 which resulted in the discovery of a potential gold environment. Approximately 845 metres was drilled in 4 holes with all holes intercepting gold pathfinders in a favorable
geological environment for gold deposition. All drill holes will be sampled by XRF analysis to characterize the holes and to determine which portions to send for accredited lab analysis. Drilling activities have been suspended for the winter season and are expected to resume early in the spring as weather permits.
The Company’s purchase of a drill and XRF has already saved a significant amount of money and has aided in the discovery of gold at Frank Creek and identifying a large hydrothermal system on the Black Bear project with high potential for gold.
This past year much effort was spent in the continued cultivation of important contacts in the government, mining and investment communities as well as with individual investors.
High grade gold/silver/copper/zinc were discovered in float on the Spanish Creek project near (approximately 10km) the
recently released multi-million ounce gold resource of Spanish Mountain Gold.
During 2012, a scientific study of the mantle rock was initiated on the Tasse project which was co-sponsored by Barker and the Canadian Government. This study is being completed to help create a better geological understanding of the basement rocks at Tasse and to determine if diamond indicators or diamonds may be present. The results will be
announced once received by Barker.
During the field season, entities from Australia and the United States conducted property visits to the Cariboo Zinc project and the Black Bear silver/gold/lead project to evaluate the potential for 10,000 tonne bulk samples at each project. After the visits, it was determined that the Company and our potential bulk sample partners should proceed to the next step in evaluating the bulk sample viabilities of each project. Samples were taken by the potential partners for metallurgical and grade potential purposes. Discussions with potential buyers of the bulk sample metals have initially returned positive responses and it appears the market exists to accept our bulk sample material if we choose to go forward. The process, of ensuring proper permits are in place, is underway and logistics and permitting for shipping and transportation are also being studied and determined. On the Cariboo project the high grade mineralization is on surface and would be extracted by blasting and crushing to the desired shipping size on site. On the Black Bear project the high grade mineralization is in laddered veins and a bulk
December 2012 BML-TSX-V