VANCOUVER, June 10, 2019 /CNW/ - 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".
Qualified Person
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.
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SOURCE Barrian Mining Corp.