VANCOUVER, Oct. 23, 2019 /CNW/ - Barrian Mining Corp.
("Barrian" or the "Company") (TSX-V: BARI, OTCQB:
BARRF, FSE: BM5) is pleased to report hole BL19-04 intersected two
high-grade gold zones: an upper zone of 2.10 grams-per-tonne
(g/t) gold over 36.6 metres starting at 80.8 metres down hole
including 3.25 g/t gold over 15.2 metres starting at 96.0
metres down hole; and a lower zone of 3.32 g/t gold over 12.2
metres starting at 79 metres down hole. The upper and lower
zones occur within a broader envelope of mineralization averaging
1.19 g/t gold over 122 metres starting at 79 metres down
hole BL-19-04. The results extend mineralization from surface
down to a 200 metre vertical distance that remains open at depth.
The new results are from the recently completed 1,838 metre reverse
circulation (RC) drilling program at its flagship Bolo Gold-Silver
Project, located in Nye County,
Nevada, USA. The Company has received full gold fire and
multi-element analytical results from ALS Global for hole BL19-04,
which was drilled to a total depth of 201 metres.
The upper zone extends the footprint of gold mineralization
between 25 and 40 metres vertically below the previous drilling on
section (Figure 1). At 200 metres below surface, the
lower zone represents the deepest gold intercept in current or
historic drilling and is among the highest-grade gold intercepts
reported to date at Bolo. The lower zone is considered to be a
new discovery, and of high priority for follow up drilling. Both
zones remain open at depth and the lower zone is open along
strike.
Maximilian Sali, CEO and
Co-Founder comments, "We are very excited about the discovery of a
new gold zone in hole BL19-04, the deepest high-grade gold
intercept to date at Bolo. We believe this intercept shows the
potential for the discovery of additional new zones of gold
mineralization at depth and throughout the Bolo Property. Something
to note is this is only the second batch of results back with eight
more holes pending"
Hole BL19-04 (-55/270 azimuth) was drilled in the South Mine
Fault Zone approximately 60 metres south of hole BL19-02 (see
Barrian's news release dated October 21,
2019) targeting the down-dip extension of previous
intercepts drilled by Allegiant Gold which was a spin out from
Columbus Gold from hole BL-29,
comprising 0.65 g/t Au over 62.5 m,
including 1.55 g/t Au over 6.1 m and
1.80 g/t Au over 7.6 m. BL19-04
intersected Carlin-style oxide gold mineralization in an upper
mineralized zone between 25 and 40 metres vertically below BL-29,
in visibly altered (silicified and oxidized) siltstones and cherty
limestones within hanging wall Cambrian Windfall Formation and
footwall Silurian Roberts Mountain Formation dolomite. The zone is
associated with highly anomalous pathfinder element (arsenic and
antimony) concentrations from the on-site x-ray fluorescence (XRF)
analysis and laboratory multi-element analysis. The upper zone
corresponds with the down-dip projection of the BL-29 intercept,
with a significant improvement in gold grade and continuity.
A second, lower mineralized zone was intersected at depth
approximately 200 m below surface,
representing the deepest high-grade gold zone intercepted in
current or historic drilling at Bolo to date. The lower zone occurs
towards the end of hole BL19-04, and was not expected based on
previous drilling; however, the zone corresponds well with a
conductive anomaly identified by the 2019 IP/Res survey. The zone
is hosted within Silurian Roberts Mountain Formation dolomite, and
is associated with localized alteration (silicification and
oxidation) and muted pathfinder element (arsenic and antimony)
concentrations from XRF analysis and laboratory multi-element
analysis. The lower zone is considered to be a new discovery, and
high-priority for follow up drilling.
Barrian anticipates additional drill results over the coming
weeks. The remaining unreported drill holes intersected significant
mineralized intersections that will provide potential to expand the
South Mine Fault Zone and Uncle Sam Zone. The drilled areas form
part of a greater mineralized trend that extends for over 1.2
kilometres along strike. The 2019 Induced Polarization (IP) ground
geophysical program generated targets that correspond well with new
results. The IP 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 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/barrian-mining-makes-new-gold-discovery-and-intersects-122-metres-of-1-2-gt-gold-oxide-with-the-hole-ending-in-mineralization-300944381.html
SOURCE Barrian Mining Corp.