VANCOUVER, Nov. 4, 2019 /CNW/ - Barrian Mining Corp.
("Barrian" or the "Company") (TSX-V: BARI, OTCQB:
BARRF, FSE: BM5) is pleased to report analytical results for from
the first, 2019 hole drilled at the Uncle Sam Prospect from the
recently completed 1,838 metre reverse circulation (RC) drilling
program at its flagship Bolo Gold-Silver Project. Hole BL19-09
intersected high-grade silver, yielding 148 g/t silver (1.77 g/t
gold equivalent2) over 4.6 metres within a
broader zone of 74.9 g/t silver (0.90 g/t gold
equivalent2) over 22.9 metres. The Uncle Sam
Zone lies 500 metres south of the South Mine Fault Zone. A new 2019
rock grab sample collected between the zones yielded 3.63 g/t
gold with 262 g/t silver in outcrop in an area
with no prior sampling. The new drill hole and surface sample
provides opportunity for continuity of mineralization along a 500
metre strike length within the 1.2 kilometre Bolo Trend.
Maximilian Sali, CEO and
Co-Founder comments, "We are pleased to add another significant
intercept that further expands the footprint of silver and gold
mineralization. The 2019 drilling program has surpassed our
expectations, drilling and surface sampling further reinforces our
interpretation that the two zones are connected along strike. The
high-grade silver at Uncle Sam Zone may be related to deep silver
mineralization at the South Mine Fault Zone. The full strike
potential at the Bolo Project has not yet been realized."
These intercepts extend high grade silver mineralization at
Uncle Sam approximately 50 to 75 metres vertically below surface
channel rock chip samples, including 3,146 g/t silver and
1.0 g/t gold over 2.6 metres and 365 g/t
silver and 1.9 g/t gold over 3.6
metres3; and 20 metres north along strike in the
subsurface from previous drill hole BL-54, which intersected 94.3
g/t silver over 21.3 metres, including 251 g/t silver over 6.1
metres3. Hole BL19-09, drilled at the Uncle Sam
Prospect, intersected high grade silver, yielding 148 g/t silver
(1.77 g/t gold equivalent2) over 4.6 metres
starting at 57.9 metres down hole, within a broader zone of 74.9
g/t silver (0.90 g/t gold equivalent2) over 22.9
metres starting at 41.2 metres down hole3 (Figure
1).
The Uncle Sam Prospect is located 500 metres south and 250
metres vertically below, the South Mine Fault Zone. Modelled RC
drill intercepts indicate the presence of a distinct silver (+/-
gold) mineralized zone offset approximately 100 to 150 metres west
and up to 200 metres below surface within the footwall of the main
South Mine Fault gold zone, suggesting the potential for continuity
of gold-silver mineralization between Uncle Sam and South Mine
Fault Zone. Combined historical and 2019 RC drilling demonstrates
the presence of gold-silver mineralization over a 350 metre
vertical extent. A new 2019 rock grab sample collected between the
South Mine Fault Zone and Uncle Sam yielded 3.63 g/t gold with 262
g/t silver in outcrop. The presence of high-grade mineralization in
outcrop between Uncle Sam and South Mine Fault Zone further
supports the potential for continuity of mineralization between the
zones.
Table 1: 2019 Bolo
Gold-Silver Project RC Drilling – Uncle Sam Zone Hole
BL19-09
|
|
Hole
ID
(dip/azimuth)
|
Target
|
From
(m)
|
To
(m)
|
Interval
(m)1
|
Ag
(g/t)
|
BL19-09
(-50/295)
|
Down-dip extension
of mineralization
from surface
channel samples
|
41.2
|
64.0
|
22.93
|
74.9
|
including
|
Extends high grade
silver at Uncle
Sam 50-75 m below
surface and 20 m
north along strike
of previous drill
hole BL-54 in
subsurface
|
57.9
|
62.5
|
4.63
|
148
|
|
|
1
|
The true width of
mineralization in most drill holes is estimated to be approximately
60-70% of drilled width
|
2
|
Gold equivalent
values were calculated at an 83.5 to 1 gold to silver ration, and
assuming metallurgical recoveries of 100%
|
3
|
The true width of
mineralization at Uncle Sam is unknown
|
Hole BL19-09 (-50° dip / 295 azimuth) was drilled at the Uncle
Sam Prospect, targeting the down-dip extension of high grade silver
in surface channel rock chip samples, including 3,146 g/t silver
and 1.0 g/t gold over 2.6 metres and 365 g/t silver and 1.9 g/t
gold over 3.6 metres2; and the strike extension of
previous intercepts drilled by Allegiant Gold Ltd. from hole BL-54,
comprising 94.3 g/t silver over 21.3 metres, including 251 g/t
silver over 6.1 metres2. BL19-09 intersected significant
silver mineralization 50 to 75 metres below surface and 20 metres
north along strike from BL-54 within visibly altered (silicified
and oxidized) and highly quartz (+/- carbonate) veined limestones
and dolomites of the Ordovician Antelope Valley Limestone unit.
The drilled areas form part of a greater mineralized trend that
extends for over 1.2 kilometres along strike. The 2019 Induced
Polarization and Resistivity (IP/Res) ground geophysical program
generated targets that correspond well with new results. The IP/Res
anomalies indicate mineralized areas may extend to depth and along
strike, providing additional growth potential across the Bolo
Project area.
Methodology and QA/QC
The analytical work reported on
herein was performed by ALS Global (ALS), Elko (sample preparation), Reno (gold fire assay) Nevada, and Vancouver (multi-element geochemistry)
Canada. ALS is an ISO-IEC
17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory
and is independent of the Barrian and the QP. RC drill samples were
subject to crushing at a minimum of 70% passing 2 mm, followed by
pulverizing of a 250 gram split to 85% passing 75 microns. Gold
determination was via standard atomic absorption (AA) finish
30 gram fire-assay (FA) analysis, in addition to 48 element ICP-MS
geochemistry. Barrian follows industry standard procedures for
the work carried out on the Bolo Gold-Silver Project, with a
quality assurance/quality control (QA/QC) program. Blank, duplicate
and standard samples were inserted into the sample sequence sent to
the laboratory for analysis. Barrian detected no significant QA/QC
issues during review of the data. Barrian is not aware of any
drilling, sampling, recovery or other factors that could materially
affect the accuracy or reliability of the data referred to
herein.
About Barrian Mining Corp.
Barrian Mining Corp. is a
new gold exploration company focused on acquiring and advancing
precious metal projects in the United
States. Barrian's flagship Bolo Project, located 90 km
northeast of Tonopah Nevada, hosts
Carlin type gold mineralization
and is fully funded and permitted for its current drill program. In
addition, Barrian has an earn-in option to acquire 100% of the
"Sleeper Project" which is located in the historic Mogollon epithermal silver-gold mining
district of New Mexico. Barrian
also has the option to acquire 100% of the Troy Canyon Project
located in Nevada. Barrian is run
by a strong management and technical team consisting of capital
market and mining professionals with the goal of maximizing value
for shareholders through new mineral discoveries, committed
long-term partnerships, and the advancement of exploration projects
in geopolitically favourable jurisdictions. Barrian trades on the
TSXV under the ticker symbol "BARI", on the OTC markets under the
symbol "BARRF" and on the German (Frankfurt) exchanges using the ticker symbol
"BM5".
Qualified Person
The scientific and technical
information contained in this news release as it relates to the
Bolo Project has been reviewed and approved by Kristopher J.
Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience
Ltd. of Edmonton, AB and a
Director of Barrian, and Christopher
Livingstone, P.Geo. (BC) Project Geologist of APEX
Geoscience Ltd. of Edmonton, AB,
both "Qualified Persons" as defined in National Instrument 43-101 –
Standards of Disclosure for Mineral Projects.
Mr. Raffle and Mr. Livingstone verified the data disclosed
which includes a review of the analytical and test data underlying
the information and opinions contained therein.
On behalf of the Board of Directors,
/s/ "Max Sali"
Max
Sali, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward Looking Information
This news release includes certain statements that constitute
"forward-looking information or statements" within the meaning of
applicable securities law, including without limitation, receipt of
additional drill results, expectations of the drill results, other
statements relating to the technical, financial and business
prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions
and are necessarily based upon a number of estimates and
assumptions. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans", "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved), and variations of such words, and
similar expressions are not statements of historical fact and may
be forward-looking statements. Forward-looking statement are
necessarily based upon a number of factors that, if untrue, could
cause the actual results, performances or achievements of the
Company to be materially different from future results,
performances or achievements express or implied by such statements.
Such statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals, anticipated costs and the ability to
achieve goals, that general business and economic conditions will
not change in a material adverse manner, that financing will be
available if and when needed and on reasonable terms, and that
third party contractors, equipment and supplies and governmental
and other approvals required to conduct the Company's planned
exploration activities will be available on reasonable terms and in
a timely manner. While such estimates and assumptions are
considered reasonable by the management of the Company, they are
inherently subject to significant business, economic, competitive
and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and
uncertainties, which could cause actual events, level of activity,
performance or results to differ materially from those reflected in
the forward-looking statements, including, without limitation: (i)
risks related to gold and other commodity price fluctuations; (ii)
risks and uncertainties relating to the interpretation of
exploration results; (iii) risks related to the inherent
uncertainty of exploration and cost estimates and the potential for
unexpected costs and expenses; (iv) that resource exploration and
development is a speculative business; (v) that the Company may
lose or abandon its property interests or may fail to receive
necessary licences and permits; (vi) that environmental laws
and regulations may become more onerous; (vii) that the
Company may not be able to raise additional funds when necessary;
(viii) the possibility that future exploration, development or
mining results will not be consistent with the Company's
expectations; (ix) exploration and development risks, including
risks related to accidents, equipment breakdowns, labour disputes
or other unanticipated difficulties with or interruptions in
exploration and development; * competition; (xi) the potential for
delays in exploration or development activities or the completion
of geologic reports or studies; (xii) the uncertainty of
profitability based upon the Company's history of losses; (xiii)
risks related to environmental regulation and liability; (xiv)
risks associated with failure to maintain community acceptance,
agreements and permissions (generally referred to as "social
licence"); (xv) risks relating to obtaining and maintaining all
necessary government permits, approvals and authorizations relating
to the continued exploration and development of the Company's
projects; (xvi) risks related to the outcome of legal actions;
(xvii) political and regulatory risks associated with mining and
exploration; (xix) risks related to current global financial
conditions; and (xx) other risks and uncertainties related to the
Company's prospects, properties and business strategy. These risks,
as well as others, could cause actual results and events to vary
significantly.
Factors that could cause actual results to differ materially
from those in forward looking statements include, but are not
limited to, continued availability of capital and financing and
general economic, market or business conditions, the loss of key
directors, employees, advisors or consultants, adverse weather
conditions, increase in costs, equipment failures, litigation,
exchange rate fluctuations, failure of counterparties to perform
their contractual obligations and fees charged by service
providers. Investors are cautioned that forward-looking statements
are not guarantees of future performance or events and, accordingly
are cautioned not to put undue reliance on forward-looking
statements due to the inherent uncertainty of such statements. The
forward-looking statements included in this news release are made
as of the date hereof and the Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities
legislation.
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SOURCE Barrian Mining Corp.