Nevada gold explorer Barrian Mining (TSX-V:BARI) updated investors on the results of the recently completed induced-polarization (IP) and resistivity geophysical survey completed at its flagship Bolo Gold Property located in the Tonopah Gold District of Nevada. The results have identified a 1.1 kilometer geophysical anomaly which include the known drill-indicated zones in addition to new anomalies. This indicates that mineralization of some type does occur between the three known zones at Bolo (Northern Extension, South Mine Fault Zone, Uncle Sam) and there is significant potential for the zones to be inter-connected:
The recently completed geophysics also shows mineralization well below the shallow 45 meter historic gold drill holes in the South Mine Fault. The South Mine Fault is where the best historic drill holes are located, and the results of the IP and resistivity surveys mean that the South Mine Fault Zone is open at depth and also to the northeast and southwest.
Barrian intends to drill the South Mine Fault Zone to greater depths than the historical holes which include a hole grading 1.28 grams/tonne gold over 133 meters including 3.24 grams/tonne gold over 30.5 meters. Barrian CEO Max Sali emphasized the high priority anomalies identified by the resistivity study:
“We are very encouraged by the positive results of the recently completed geophysical survey. The results have exceeded our expectations and define multiple high priority resistivity anomalies that warrant immediate drill testing at depth below the South Mine Fault Zone, and along strike towards the Northern Extension Zone”
Barrian’s next step is to plan its fully-funded summer drill program at Bolo which will include step-out and infill drilling to extend gold-silver mineralization across the 1.1 kilometer trend. The summer program will initially focus on the South Mine Fault Zone (where the highest historical grade drill intercepts are located) and the Uncle Sam Prospect in the southern part of Bolo where rock chip samples have returned grades as high as 3,146 grams/tonne silver and 1.0 grams/tonne gold over 2.6 meters.
At a C$6.5 million market cap (based on Friday’s close of C$.16 per share) Barrian shares are cheap just as the company embarks on its maiden drill program at its flagship Bolo Gold Project in Nevada.
Disclosure: Always do your own due diligence. Author is long BARI.V shares and may buy or sell at any time without notice.
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