VANCOUVER, June 10, 2019 /PRNewswire/ – Barrian Mining Corp. (“Barrian” or the “Company“) (TSX-V: BARI) (FSE: BM5) is pleased to announce drill target selections for the upcoming 1,800 metre (5,500 ft) reverse circulation (RC) drilling program at the Bolo Gold Property. The program is designed to expand the footprint of drill-defined gold mineralization of the Mine Fault trend, both along strike and at depth. Planned South Mine Fault (SMF) Zone step-out drilling will extend to the north and south of previous drill intercepts that graded 3.24 grams-per-tonne (g/t) gold over 30.5 metres within a broader zone of mineralization averaging 1.28 g/t gold over 133 metres in drill hole BL-38, and 1.1 g/t gold over 90 metres including 40.9 metres of 2.05 g/t gold* from surface in drill hole BL-39. Drilling will also test a new discovery target, identified by the recently completed induced-polarization (IP) and resistivity geophysical survey.
Kris Raffle, P.Geo., Director and QP stated, “The 2019 drilling program has the potential to expand the historically drilled footprint of SMF Zone mineralization. We eagerly anticipate commencement of the 2019 Bolo drill program, which is designed to build on favorable results from previous drill campaigns by incorporating the recently acquired IP/resistivity geophysical survey results. The newly identified geophysical anomaly west of the SMF Zone is particularly intriguing given its potential to represent a new discovery sub-parallel to the main Mine Fault trend”.
The SMF Zone forms part of a +1.1 kilometre combined gold and silver in RC drill hole and conductive geophysical anomaly coincident with the Mine Fault trend. North of the SMF Zone, geophysical results indicate that previous drill holes often failed to adequately test the Mine Fault conductive anomaly. The planned step-out drilling at SMF targeting the conductive anomaly has the potential to add up to 200 metres of mineralized strike length, with the potential for additional expansion during subsequent programs (see Figure 1). The geophysical results also suggest significant vertical continuity of conductive anomalies at the SMF Zone ranging from between 250 and 400 metres depth, the limit of the geophysical inversion. The planned drilling, in part, targets the down-dip extension of previously defined mineralization coincident with these geophysical anomalies (see Figure 2). The geologic and geophysical evidence suggests that the previously drilled gold and silver zones at Bolo could be inter-connected along Mine Fault trend structure.
New discovery drilling is planned for an untested, +500 metre linear conductive anomaly located approximately 150 to 200 metres west of the SMF Zone (see Figures 1 and 2). The anomaly is near surface, of similar amplitude to the Mine Fault anomaly, and ranges from 80 to 200 metres wide and 100 to 150 metres in vertical extent. It is sub-parallel to the Mine Fault Trend and may be part of the same fault system that hosts a distinct silver and gold mineralized zone at the Uncle Sam prospect.
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 90km northeast of Tonopah Nevada, hosts Carlin type gold mineralization and is fully funded and permitted. 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 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”, and on the German (Frankfurt) exchanges using the ticker symbol “BM5”.
The scientific and technical information contained in this news release as it relates to the Bolo Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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” within the meaning of applicable securities law, including without limitation, the Company’s plans and timing for its properties/projects, other statements relating to the technical, financial and business prospects of the Company, 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.
SOURCE Barrian Mining Corp.