VANCOUVER, Nov. 7, 2019 /CNW/ - Barrian Mining Corp.
("Barrian" or the "Company") (TSX-V: BARI, OTCQB:
BARRF, FSE: BM5) is pleased to report analytical results for the
remaining drill holes from the recently completed 1,838 metre
reverse circulation (RC) drilling program at its flagship Bolo
Gold-Silver Project. Hole BL19-03, located in the South Mine Fault
Zone, intersected 2.37 grams per tonne (g/t) gold over 12.2
metres within a broader envelope of mineralization
averaging 0.81 g/t gold over 65.5 metres1.
These intercepts expand gold mineralization approximately 40 to 50
metres vertically below the previous drilling (Figure 1) and
indicates gold mineralization remains open below 150 metres
vertical depth on section. The remaining unreported 2019 Bolo drill
holes intersected narrow zones of grade gold and/or silver
mineralization in step-outs at the South Mine Fault Zone and Uncle
Sam Prospect (Table 1).
Maximilian Sali, CEO and
Co-Founder comments, "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."
The combined 2019 and historical RC drilling at Bolo defines a
1.2 kilometer north-south trending corridor of gold-silver
mineralization containing the South Mine Fault Zone, Uncle Sam, and
Northeast Extension zones. Gold mineralization at Bolo exhibits
characteristics of classic Carlin-type mineralization, including strong
subvertical structural control in addition to evidence of gold
mineralization extending laterally at low angles within favorable
silty carbonate units. The relatively untested 500
metre strike length South Mine Fault-Uncle Sam segment is
particularly prospective and is 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
(Figure 2).
Table 1: 2019 Bolo Gold-Silver Project RC Drilling -
Significant Results
Hole
ID
(dip/azimuth)
|
Released
|
Zone
|
From
(m)
|
To
(m)
|
Interval
(m)1
|
Ag
(g/t)
|
Au(g/t)
0.2
cut-off
|
BL19-01
(-65/270)
|
Barrian
News
Release
October 28,
2019
|
South Mine
Fault
|
0
|
83.8
|
83.8
|
|
1.37
|
including
|
21.3
|
50.3
|
29.0
|
|
3.34
|
and
|
35.1
|
47.2
|
13.7
|
|
4.97
|
BL19-02
(-65/270)
|
Barrian
News
Release
October 21,
2019
|
South Mine
Fault
|
48.8
|
134.1
|
85.3
|
|
1.01
|
including
|
67.1
|
99.1
|
32.0
|
|
2.01
|
BL19-03
(-50/270)
|
Current
News
Release
|
South Mine
Fault
|
134.1
|
199.6
|
65.5
|
|
0.81
|
including
|
140.2
|
152.4
|
12.2
|
|
2.37
|
BL19-04
(-55/270)
|
Barrian
News
Release
October 23,
2019
|
South Mine
Fault
|
79.3
|
201.2
|
121.9
|
|
1.19
|
including
|
80.8
|
117.4
|
36.6
|
|
2.10
|
and
|
96.0
|
111.3
|
15.2
|
|
3.25
|
and
|
187.5
|
199.6
|
12.23
|
|
3.32
|
BL19-05
(-50/270)
|
Current
News
Release
|
South Mine
Fault
|
12.2
|
18.3
|
6.1
|
|
0.30
|
BL19-06
(-45/270)
|
Current
News
Release
|
South Mine
Fault
|
21.3
|
38.1
|
16.8
|
|
0.61
|
including
|
29.0
|
36.6
|
7.6
|
|
0.99
|
BL19-07
(-45/300)
|
Current
News
Release
|
South Mine
Fault
|
41.1
|
44.2
|
3.1
|
|
0.27
|
BL19-08
(-45/270)
|
Current
News
Release
|
South Mine
Fault
|
108.2
|
109.7
|
1.5
|
|
0.45
|
BL19-09
(-50/295)
|
Barrian
News
Release
November 4,
2019
|
Uncle Sam
|
41.2
|
64.0
|
22.92
|
74.9
|
|
including
|
57.9
|
62.5
|
4.62
|
148
|
|
BL19-10
(-45/325)
|
Current
News
Release
|
Uncle Sam
|
53.3
|
74.7
|
21.32
|
24.2
|
0.32
|
including
|
67.1
|
74.7
|
7.62
|
43.0
|
0.52
|
1
|
The true width of
mineralization in most drill holes is estimated to be approximately
60-70% of drilled width
|
2
|
The true width of
mineralization at Uncle Sam is unknown
|
3
|
The true width of the
lower gold zone in BL19-04 is unknown
|
Hole BL19-03 (-50° dip / 270 azimuth) was drilled in the South
Mine Fault Zone approximately 30 metres south of hole BL19-02 (see
Barrian's news release dated October 21,
2019) and 30 metres north of hole BL19-04 (see Barrian's
news release dated October 23, 2019)
targeting the down-dip extension of previous intercepts drilled by
Columbus Gold (later spun-out to
Allegiant Gold Ltd.) from hole BL-23, comprising 1.60 g/t Au over
50.3 m, including 4.42 g/t Au over
6.1 m and 4.45 g/t Au over
4.6 m1. BL19-03
intersected oxide gold mineralization 40 to 50 metres vertically
below BL-23 within variably altered (silicified and/or oxidized)
siliceous siltstones and cherty, silty limestones within the
hanging wall Cambrian Windfall Formation and silty dolomites of the
Silurian Roberts Mountain Formation.
Holes BL19-05 (-50° dip / 270 azimuth) and BL19-06 (-45° dip /
270 azimuth) were collared in an area of sparse drilling in the
southern part of the South Mine Fault Zone, approximately 65 metres
and 30 metres south of hole BL19-04, respectively. Both holes
intersected visibly altered (silicified and/or oxidized)
near-surface zones of gold mineralization within siliceous
siltstones and jasperoids of the Windfall Formation. Both holes
also encountered deeper zones of silver mineralization, within
dolomites of the Roberts Mountain Formation and Ordovician Hanson
Creek Formation. Silver mineralization is associated with oxide
alteration (+/- silicification) and quartz-carbonate veining,
similar to Uncle Sam.
Hole BL19-07 (-45° dip / 300 azimuth) tested the northern strike
extension of the South Mine Fault Zone. Visible alteration
(silicification and oxidation) was encountered near surface in
Windfall Formation siltstones and jasperoids, associated with
low-grade gold and silver mineralization. Hole BL19-08 (-45° dip /
270 azimuth) was drilled between the South Mine Fault Zone and
Northern Extension Zone. Sporadic oxidation (limonite) was
observed; however, no significant gold or silver grades were
returned.
Hole BL19-10 (-45° dip / 325 azimuth) was drilled at the Uncle
Sam Prospect, targeting the northern extension of silver (+/- gold)
mineralization. Similar to BL19-09, mineralization was encountered
within visibly altered (silicified and oxidized) and highly quartz
(+/- carbonate) veined limestones and dolomites of the Ordovician
Antelope Valley Limestone unit. Hole BL19-10 intersected coincident
low-grade gold and silver mineralization, comprising 24.2 g/t
silver with 0.32 g/t gold over 21.3 metres, including 43.0
g/t silver with 0.52 g/t gold over 7.6 metres2.
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.
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, the
potential exploration program in 2020, other statements relating to
the technical, financial and business prospects of the Company and
its properties, 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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