08:54 AM EDT, 08/20/2019 (MT Newswires) -- Barkerville Gold Mines (BGM.V) said Tuesday that results from the independent Preliminary Economic Assessment (PEA) at its 100% owned Cariboo Gold Project were positive.

The project is in the historic Wells-Barkerville mining camp in British-Columbia.

CEO Chris Lodder said: "Today's PEA results for our Cariboo Gold project provide a robust after-tax Internal Rate of Return (IRR) of 28% and after-tax Net Present Value (NPV) of $402 million with a capex of $306 million, using only about 50% of our present mineral resource estimate. This is a very strong start to a project that is growing as new resources are being delineated by our ongoing successful exploration at depth and on strike of the present resources and throughout the 2,000 km prospective land package."

Shares on Monday eased down almost 4.0% to $0.37 apiece in a 52-week range of $0.30 - 0.48.

Price: 0.3650, Change: -0.0150, Percent Change: -3.95