October 16, 2018 – Vancouver, B.C. – Barksdale Capital Corp. (“Barksdale” or the “Company”) (TSX-V: BRO) (OTCQB: BRKCF) is pleased to report that it has commenced various ground geophysical programs at the Sunnyside property in Arizona, where Barksdale has the option to earn up to a 67.5% project level interest. An orientation Natural Source Audio Magneto-Telluric (“NSAMT”) survey has commenced and will be followed by, in due course, ground Induced Polarization (“IP”) programs.
Both orientation surveys will provide Barksdale with additional geologic and structural information that, once evaluated and incorporated into the Company’s ongoing mapping and geochemical sampling programs, should help to both refine drill targets as well as aid in constructing future geophysical surveys.
Rick Trotman, Barksdale’s President and CEO commented: “Barksdale is moving forward with geophysical orientation surveys that should rapidly advance our understanding of the subsurface structural and geological attributes over a relatively small, albeit important, portion of Sunnyside property where the Barksdale team is working to secure its drilling permits. Should we see encouraging results from these preliminary surveys it would assist the company in i) generating and refining targets that will be drill tested once approvals have been received, as well as ii) aid in developing more comprehensive property-wide geophysical surveys that could be completed in 2019.”
Barksdale has commenced a 7 to 10 line-kilometer NSAMT survey in the northern portion of the Sunnyside property. This technique is a passive geophysical technique that measures the earth’s electromagnetic field to identify and distinguish geologic contacts and structures in the subsurface. The primary goal of the survey is to aid in distinguishing subsurface expressions of carbonate rock sequences that serve as known hosts to polymetallic (copper-lead-zinc-silver) replacement deposits, adjacent to the known Sunnyside copper- porphyry complex. Additionally, the NSAMT survey will attempt to see if large-scale surface structures identified during the ongoing detailed surface geologic mapping and sampling program represent conduits from deeper seated carbonate replacement deposits.
Additional geophysical work will focus on a 4.3 line-kilometer IP survey, as well as a 3.6 square kilometer gradient array IP survey. The IP surveys will collect both chargeability and conductivity data that will help identify zones of high sulfide content. This survey will be completed following completion of the NSAMT survey.
Lewis Teal, Barksdale’s project manager and a “qualified person” as defined by NI 43-101, Standards of Disclosure for Mineral Projects is responsible for approving the scientific and technical information regarding the Sunnyside property contained in this news release.
The Company also announces that it has elected to terminate its mining lease for the Swales gold property in Nevada. The property will be returned to the original vendor and Barksdale will pay a drilling escape payment of US$187,500 in cash as well as 480,770 Barksdale common shares.
ABOUT BARKSDALE CAPITAL CORP.
Barksdale Capital Corp. (TSXV: BRO) (OTCQB: BRKCF) is focused on the acquisition and exploration of highly prospective precious and base metal projects in the United States.
For additional information, please contact:
Rick Trotman, President and 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” under applicable Canadian securities legislation including, but not limited to, the proposed geophysical programs to be carried out at the Sunnyside property, the timing thereof and the potential benefits to be derived therefrom. Forward-looking information is necessarily based upon a number of estimates and assumptions 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. 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.