Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) (‘Barksdale’ or the ‘Company’) is pleased to announce that it has commenced drilling at its Sunnyside copper-lead-zinc-silver exploration project in Arizona, with the first hole currently at approximately 765 meters depth. Additionally, the Company is happy to report that the Ninth Circuit Court of Appeals has denied the Plaintiff’s motion for an injunction during the appeal process.
The Company’s Plan of Operations for the Sunnyside drilling program was recently approved by the United States Forest Service. This program will test our high-grade exploration targets, within a district scale mineral system, for up to seven years. The current Phase I drill program is focused on extending known carbonate replacement mineralization (‘CRD’) from the eastern claim boundary west towards the Sunnyside copper-molybdenum-silver porphyry.
Highlights:
Drilling has commenced at the first target and a second drill is expected to arrive in October.The first large-scale target is the Boundary CRD copper-zinc-lead-silver zone that was intersected in historic drilling from the 1980’s.Hole SUN-001 is currently at 765 meters depth and will test for mineralized horizons within the Concha and Scherrer carbonate units occurring from an approximate depth of 1200 meters.
Rick Trotman, President and CEO of Barksdale states, ‘The drill is actively turning at Sunnyside. After many years of hard work on the permitting front, I’m truly excited to take the next step and start testing our targets. Sunnyside is part of a world-class mineral system and getting the first hole underway is a fantastic achievement. We look forward to providing additional updates as we advance the drilling program.’
The first hole from the planned ~16,000-meter drilling program is currently underway at the Boundary zone target, located between the eastern property boundary and the previously drilled Sunnyside copper-molybdenum-silver porphyry system (Figure 1). The Boundary zone is within a larger projected horizon of carbonate host rocks that extend through the northeastern portion of the Sunnyside property. This target was previously intersected by drilling in the 1980’s that encountered approximately 362 meters of highly altered carbonate rocks hosting over a dozen mineralized intervals of CRD mantos of massive sulfide mineralization. The Boundary zone target is roughly 1.1 kilometers long (NW-SE) by 700 meters wide (SW-NE), plunging shallowly (5-15 degrees) to the northwest and dipping to the northeast (20-40 degrees).
Figure 1. Plan map showing known and potential zones of mineralization on the Sunnyside property. Deposit and prospect outlines on the neighboring property are taken from publicly disclosed information.
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In most CRD systems, the thickest and highest-grade mineralization is often found where key geologic features coalesce, including reactive carbonate host rocks, structural/stratigraphic conduits that aid in channeling metal-rich fluids, and fluid traps that ultimately slow fluid flow and aid metal deposition. The first drill hole will target the upper sequence of Paleozoic carbonates (Concha and Scherrer units) that are located beneath a capping unit comprised of Jurassic and Triassic volcanic rocks, which acted as an aquitard for deposition of polymetallic (Cu-Zn-Pb-Ag) mineralizing fluids. Structural features mapped at surface on the Sunnyside property suggest that a series of deep-seated faults are strongly correlated with near-surface mineralization in the system (Figure 2), which is interpreted to be leakage from strataform CRD mantos at depth. Intersection of these structural features with the host carbonate stratigraphy is the primary target for the drilling program at the Boundary zone.
Figure 2. Plan map showing fault corridors as mapped at surface (black lines) with the Boundary zone target area (orange). Deposit and prospect outlines on the neighboring property are taken from publicly disclosed information.
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To initiate the exploration drilling campaign, the Company has re-entered historic drill hole TCH-2 after down-hole surveys determined that the protective casing from the 1980’s was intact from surface to 762 meters. After reentering the historic hole, a wedge has been set shortly past the casing and a new hole that projects away from the original drill hole is being advanced in a northwesterly direction. Assuming no deviation, the hole is expected to intersect the altered carbonate units from approximately 1,200 meters depth at a lateral distance approximately 50 meters to the northwest of the first historic intercept in TCH-2. Drill results from the original TCH-2 drill hole included over a dozen mineralized intercepts, summarized in Table 1 below.
Table 1. Mineralized intervals in TCH-2 as originally reported by ASARCO. Historic drilling occurred prior to implementation of NI 43-101 and has not been verified by a ‘qualified person’ and therefore should not be relied upon. Intercepts are shown as an indication of the possible mineralization within the Sunnyside property and as a guide to future exploration. See the Company’s NI 43-101 technical report on SEDAR for detailed information.
Additional intersections into the carbonate stratigraphy will advance the refining of targeted projections of host stratigraphy and will guide future drilling along the Boundary zone target. Depending on drilling conditions, additional wedge holes could be completed from the TCH-2 mother hole.
Drilling will, over time, shift progressively to the west, where the CRD (mantos) are projected to intersect the Sunnyside porphyry copper-molybdenum-silver deposit. This area surrounding the porphyry has the potential to host zones of copper-dominated skarn mineralization such as those seen in the nearby Rosemont copper deposit (Hudbay Minerals Inc.), which is hosted in the same Paleozoic carbonate sequence as Sunnyside.
Barksdale has contracted Boart Longyear (‘Boart’) to complete the initial drilling program at Sunnyside, utilizing two diamond drill rigs. Boart has a long and distinguished track record of drilling in the area, has a strong local logistical network, and understands the drilling conditions that may be encountered.
Legal Update
As previously announced on September 6, 2023, the United States District Court for the District of Arizona issued a ruling that denied the Plaintiff’s request for a preliminary injunction at Sunnyside, which would have prevented the Company from drilling until the final ruling regarding the United States Forest Service’s permit was issued by the Court. The Plaintiffs appealed that ruling to the United States Court of Appeals for the Ninth Circuit (‘Ninth Circuit’), seeking an emergency injunction that would stop drilling until a ruling has been issued on the appeal. The Ninth Circuit denied the request for an emergency injunction. The Company expects the Ninth Circuit to issue a final ruling on the appeal in December 2023 or January 2024 and the broader lawsuit will continue moving forward over the next year (approximately).
Scientific and technical information in this news release has been reviewed and approved by Lewis Teal, Senior Consultant to the Company and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
Barksdale Resources Corp., a 2023 OTCQX BEST 50 Company, is a base metal exploration company headquartered in Vancouver, B.C., that is focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America. Barksdale is currently advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects, both of which are in the Patagonia mining district of southern Arizona, as well as the San Javier copper-gold project in central Sonora, Mexico.
ON BEHALF OF Barksdale Resources Corp
Rick Trotman
President, CEO and Director
[email protected]
Terri Anne Welyki
Vice President of Communications
778-238-2333
[email protected]
For more information please phone 778-558-7145, email [email protected] or visit www.BarksdaleResources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes ‘forward-looking information’ under applicable Canadian securities legislation including, but not limited to, the Company’s goals for 2023; geological interpretations; the proposed nature, size, timing, targets and impact of the Company’s planned drilling program on the Sunnyside project, anticipated drill and exploration results; the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; mine plans; future exploration prospects; the completion and timing of technical reports; future growth potential of Barksdale Resources and future development plans for the Sunnyside copper-lead-zinc-silver project; the ability of the Company to obtain the requisite staffing, bonding and financing therefor; and the potential impact of seasonal drilling restrictions on the ability of the Company to effectively carry out such program. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company’s proposed drilling program at Sunnyside is an exploratory search for commercial quantities of ore, the discovery of which cannot be assured. There are currently no NI 43-101 resources or reserves on the Sunnyside property. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and rising inflation and interest rates and the impact they will have on the Company’s operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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