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 metreswithin a broader envelope of mineralization averaging0.81 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).
The true width of mineralization in most drill holes is estimated to be approximately 60-70% of drilled width
The true width of mineralization at Uncle Sam is unknown
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 Disclosurefor 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.
SOURCE Barrian Mining Corp.
For further information: Karl Mansour, Paradox IR, Tel: (514) 341-0408, Email: [email protected]; Max Sali, Chief Executive Officer & Director, Tel: (604) 620-8406, Email: [email protected]