VANCOUVER, Oct. 28, 2019 /CNW/ - Barrian Mining Corp.
("Barrian" or the "Company") (TSX-V: BARI, OTCQB:
BARRF, FSE: BM5) is pleased to report analytical results for a
third drill hole from the recently completed 1,838 metre reverse
circulation (RC) drilling program at its flagship Bolo Gold-Silver
Project. Hole BL19-01 represents one of the highest-grade gold
intercept to date at Bolo, yielding 3.34 grams per tonne (g/t) gold
over 29.0 metres, including a higher-grade zone of 4.97 g/t
gold over 13.7 metres1. The intercept occurs within
a broader envelope of mineralization averaging 1.37 g/t gold
over 84 metres starting from surface1. These
intercepts expand the footprint of gold mineralization
approximately 35 metres vertically below the previous drilling on
section. Mineralization remains open at depth (Figure
1).
Maximilian Sali, CEO and
Co-Founder comments, "We are thrilled with the impressive drill
results we continue to release at Bolo, which rank very favorably
among all other publicly reported Nevada gold drill intercepts this year. The
results demonstrate exceptional grade and width figures for
Carlin-type oxide gold deposits in
Nevada. Barrian's choice to focus
on Nevada was due to its
exceptional gold endowment combined with the generally low
processing costs of heap-leachable Carlin-type oxide gold deposits. While Bolo is
still an early-stage project, achieving one of the highest-grade
intercepts to date with hole BL19-01 further reinforces our belief
that there is excellent potential to significantly expand the known
gold zones and make new discoveries. We continue to look
forward to additional results from the South Mine Fault and the
Uncle Sam silver gold prospects."
Table 1: Significant 2019 Bolo Gold-Silver Project RC
Drilling Results to Date
Hole ID
(dip/azimuth)
|
Released
|
Target
|
From (m)
|
To (m)
|
Interval
(m)1,2
|
Au(g/t) 0.2 cut-off
|
BL19-01
(-65/270)
|
Current News
Release
|
Down-dip extension
of mineralization
in previous drill hole BL-39
|
0
|
83.8
|
83.8
|
1.37
|
Including
|
One of the highest
grade gold
intercepts to date at Bolo extends gold
mineralization 35 m vertically
|
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
|
Down-dip extension of
mineralization in
historical hole BL-38; extends gold
mineralization 60 m vertically
|
48.8
|
134.1
|
85.3
|
1.01
|
including
|
67.1
|
99.1
|
32.0
|
2.01
|
BL19-04
(-55/270)
|
Barrian News
Release October 23,
2019
|
Down-dip extension of
mineralization in
historical hole BL-29
|
79.3
|
201.2
|
121.9
|
1.19
|
including
|
Upper gold zone
extends approximately
25-40 m vertically down from BL-29
with improvement in grade versus BL-29
|
80.8
|
117.4
|
36.6
|
2.10
|
and
|
96.0
|
111.3
|
15.2
|
3.25
|
and
|
New
Discovery deep gold zone
intersected 200 m below surface
|
187.5
|
199.6
|
12.2
|
3.32
|
|
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 the lower gold zone in BL19-04 is unknown.
|
Hole BL19-01 (-65° dip / 270 azimuth) was drilled in the South
Mine Fault Zone approximately 30 metres north of hole BL19-02 (see
Barrian's news release dated October 21,
2019) and 90 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-39, comprising 1.62 g/t Au over
54.9 m, including 3.28 g/t Au over
15.2 m and 2.03 g/t Au over
7.6 m1. BL19-01
intersected Carlin-style oxide gold mineralization from surface and
approximately 35 metres vertically below BL-39 within visibly
altered (silicified and oxidized) jasperoids, siliceous siltstones
and cherty limestones within the hanging wall Cambrian Windfall
Formation. The intensity of alteration decreases after 60 metres
down hole, but remains continuous to 91 metres. Weak alteration is
observed locally past 90 metres into the footwall Silurian Roberts
Mountain Formation dolomite.
Prior to BL19-01, the highest-grade intercept drilled at Bolo
was from hole BL-38 (located 30 metres south-southwest of BL19-01),
comprising 3.24 g/t gold over 30.5 metres, including 5.08 g/t gold
over 12.2 metres1. The intercepts from both holes are
near identical in width and grade, and both holes were drilled west
(270 azimuth) at a -65° dip.
Barrian anticipates additional drill results over the coming
weeks for the other seven (7) drill holes. The remaining unreported
drill holes include 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 and Resistivity (IP/Res) ground geophysical program
generated targets that correspond well with new results. The IP/Res
anomalies indicate mineralized areas may extend to depth and along
strike, providing additional growth potential across the Bolo
Project area.
![Figure 1: Bolo Gold Silver Project BL19-01 Drill Section (Showing Resistivity) (CNW Group/Barrian Mining Corp.) Figure 1: Bolo Gold Silver Project BL19-01 Drill Section (Showing Resistivity) (CNW Group/Barrian Mining Corp.)](https://mma.prnewswire.com/media/1018027/Barrian_Mining_Corp__Barrian_Mining_Drills_One_of_the_Highest_gr.jpg)
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 previously producing
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
Barrian's Projects have 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 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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