Insider Buying And A Successful Maiden Drill Program Make Shares Of This Nevada Gold Explorer An Enticing Proposition

Nevada-focused gold-explorer, Barrian Mining (TSX-V:BARI, OTC:BARFF), recently released assays for its maiden drill program at its flagship Bolo Project in the Tonopah Mining District of Nevada. The results were impressive and included intersections of 29 meters grading 3.34 grams/tonne gold and 122 meters grading 1.2 grams/tonne gold. Most importantly, Barrian is intersecting broad widths of near surface oxide gold. This is the type of mineralization that has made Nevada one of the most prolific and profitable gold mining jurisdictions in the world.

The fact that the mineralization is near surface (less than 100 meters below surface) makes it easier and less costly to mine, and oxide gold is easier to process and convert to a doré gold bar. Several of Barrian’s intersections (BL 19-01, BL19-02, and BL 19-04) are exceptional and rank in the top 2% of all drill results reported worldwide on a gram-meters basis.

The combined 2019 and historical RC drilling at Bolo defines a 1.2 kilometer, north-south trending, corridor of gold-silver mineralization, which contains the South Mine Fault Zone, Uncle Sam and Northeast Extension zones. Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization. The relatively untested, 500 meter strike length, South Mine Fault-Uncle Sam segment is particularly prospective. It is also expected to be the main focus of Barrian’s 2020 exploration in an effort to prove-out emerging structural and stratigraphic gold targets within the zone:

Barrian CEO Max Sali offered the following summary of the company’s maiden drill program at Bolo:

“We are delighted with the outcome of our first drilling campaign at Bolo. Mineralization was encountered in each hole, including multiple intercepts producing exceptional gold grade and width for a Carlin-type mineralization in Nevada. The results from the 2019 program demonstrate the tremendous potential for new discoveries at Bolo, both at depth in the known zones and along strike.”

In order to determine if the oxide gold zones extend down-dip, in 2020, Barrian plans to drill the known zones to twice the depth they have been drilled historically. Barrian is also committed to connecting the South Mine Fault Zone with the Uncle Sam Zone.

Barrian is off to a strong start at Bolo, however, the company will need to raise money soon in order to prepare for, and conduct, a phase two drilling program at Bolo in Q1 2020. I view Barrian shares as an attractive buying opportunity into any financing/tax-loss selling related weakness. Barrian CEO, Max Sali, seems to agree, as he continues to build an already large position in Barrian shares with recent open market purchases and option exercises taking his shareholdings up to 3,138,250 shares:

Disclosure: Author owns BARI.V shares and may choose to buy or sell at any time without notice. 

 
Disclaimer:

The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. Barrian Mining Corp. is a high-risk venture stock and not suitable for most investors. Consult Barrian Mining Corp’s SEDAR profile for important risk disclosures.

EnergyandGold has been compensated for marketing & promotional services by Barrian Mining Corp. so some of EnergyandGold.com’s coverage could be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.

This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.