Vancouver, British Columbia – May 24, 2019: Barrian Mining Corp. (“Barrian” or the “Company”) (TSX-V: BARI) (FSE: BM5) is pleased to announce that the recently completed induced-polarization (IP) and resistivity geophysical survey completed at the Bolo Gold Property (“Bolo”) has identified multiple high-priority anomalies that warrant follow-up reverse circulation (RC) drill testing. The new anomalies and drill-indicated zones have provided a +1.1 kilometre strike length geophysical signature. These zones show potential to be inter-connected and display features of multiple sub-parallel zones along the Mine Fault Trend.
Max Sali, Chief Executive Officer stated, “We are very encouraged by the positive results of the recently completed geophysical survey. The results have exceeded our expectations and define multiple high priority resistivity anomalies that warrant immediate drill testing at depth below the South Mine Fault Zone, and along strike towards the Northern Extension Zone”.
The IP/resistivity survey completed at Bolo comprised 10.2 line-km over 9 lines targeting the “Mine Fault” and other mineralized structures that host the Uncle Sam, South Mine Fault (SMF) and Northern Extension (NEX) mineralized zones. The survey extends 1,100 metres north to south, covering an area of approximately 135 hectares. The anomalous geophysical signatures have provided an essential tool for drill planning and positioning during the fully funded summer drill program. The program will include step-out and infill drilling to extend gold-silver mineralization across the 1.1 kilometre trend. All zones remain open in all directions and require drill testing.
Highlights of the IP/resistivity survey reveal the presence of a well-defined linear conductive anomaly coincident with previously RC drilled gold and silver mineralized zones and Mine Fault trend. The conductive anomaly ranges in width from 100-200 metres and extends vertically from between 250 metres and 400 metres depth, the limit of the geophysical inversion. The geophysical survey defines numerous high-priority drill targets at depth below the SMF Zone; over the 600 metre untested strike length between the SMF and Uncle Sam Prospect; and along the largely untested 500 metre strike length area between the SMF and NEX zones. In addition, a number of untested conductive anomalies occur with the prospective west-side footwall of the Mine Fault (Figure 1 Plan).
The SMF Zone, which returned RC drill intercepts of 3.24 grams-per-tonne (g/t) gold over 30.5 metresfrom a downhole depth of 44.2 metres, within a broader zone of mineralization averaging 1.28 g/t gold over 133 metres* from surface (Drill Hole BL-38), is coincident with an approximately 150 metre wide subvertical conductive anomaly that extends to a vertical depth of 250 metres a distance of 100 metres below the deepest RC drill intercept (Figure 2 Section).
Plan Map (Figure 1)
The plan map provides anomalous geophysical signatures across multiple gold-silver drill indicated zones and shows areas for extension.
TheUncle Sam Prospect, which yielded high-grade silver plus gold channel rock chip samples including 3,146 g/t silver and 1.0 g/t gold over 2.6 metres, and 365 g/t silver and 1.9 g/t gold over 3.6 metres**, is associated with an approximately 100 metre wide conductive zone representing the Mine Fault. Modelled RC drill intercepts at Uncle Sam and South Mine Fault Zone, located 600 metres to the north and 200 metres vertically above, indicate the presence of a distinct silver mineralized zone offset approximately 200 metres to the west within the footwall of the main SMF gold zone.
From the SMF footwall conductive anomalies occur on successive lines northward to the NEX beneath massive dolomite cover rocks. Importantly, north of the SMF gold zone the geophysical results indicate previous RC holes often failed to drill across or did not adequately test the Mine Fault conductive anomaly.
Section Map (Figure 2)
The section map provides anomalous geophysical signatures across the South Mine Fault Zone.
* The true width of mineralization is estimated to be approximately 50% of drilled width.
** The true width of mineralization at Uncle Sam is unknown. For full descriptions of the Bolo Property mineralized intercepts see: Technical Report on the Bolo Property, Nye County, Nevada, USA effective date October 5, 2018 available at www.sedar.com
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 permitted for upcoming exploration programs including drilling. Notable historical drill results include 1.28 g/t gold over 133 metres from surface. 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”.
Geophysical Survey Details
The 2019 Bolo Gold Property IP/resistivity geophysical survey was completed by Las Vegas, NV based KLM Geoscience LLC, using a pole-dipole array and combination of 50 m and 100 m dipole “a” spacing. Line lengths ranged from 0.9 to 1.5 km line length. Line spacing ranged from 75 m in the SMF area to 300 m elsewhere.
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 Disclosurefor Mineral Projects.
On behalf of the Board of Directors
s/ “Max Sali”
Max Sali, Chief Executive Officer
For more information, please contact:
Chief Executive Officer & Director
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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; (x) 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.