January 30, 2019 – Vancouver, B.C. – Barksdale Capital Corp. (“Barksdale” or the “Company”) (TSXV: BRO)(OTCQB: BRKCF) is pleased to report initial results from its ongoing exploration programs (the “Program”) at its Sunnyside property, located in southern Arizona, adjacent to South32’s Taylor-Hermosa development project.
To date, the Program has focused on the northeast quarter of the 5,223-acre Sunnyside project, where the known extension of the Taylor-Hermosa zinc-lead-silver-copper deposit continues onto Barksdale ground. This is a priority zone for Barksdale as it sits within the footprint of the Company’s proposed drilling plans that have been submitted to the US Forest Service for permit approval.
Barksdale’s team completed detailed mapping (1:6,000 scale) and extensive rock chip sampling (1,904 samples) in the northern portion of the Sunnyside property during 2018. The surface campaign has identified multiple prominent mineralized structural zones around the periphery of the Sunnyside porphyry complex, which was partially defined by various ASARCO drilling campaigns in the 1960’s through 1980’s. Individual assays from the Barksdale Program returned select high-grade results of up to, and including, 15.75% copper, 19.15 g/t gold, 440 g/t silver, 6.54% lead, and 0.73% zinc, respectively. Comprehensive geochemical plots of copper, gold, silver, lead and zinc can be found at the end of this press release (Figures 1 through 5).
Geochemical data is currently being analyzed and further evaluated using geostatistical modeling software, such that project scale metal zoning patterns can be established at Sunnyside. These models will be updated as additional surface sampling is completed in 2019, which will likely see the sampling campaign extended over the remainder of the Sunnyside property. Barksdale believes that these mineralized structures likely represent leakage from larger mineralized bodies at depth and will use these data to generate drill targets once the ongoing program are completed.
Additionally, the Company initiated an initial 7-10 line-kilometer natural source audio magneto-telluric survey (“NSAMT”) in October 2018, the purpose of which was to gain subsurface structural data as well as to potentially identify Paleozoic carbonate rocks (host rocks for the Taylor-Hermosa deposit) beneath volcanic cover. Based on the quality and depth of the data collected, Barksdale subsequently extended the survey and ultimately completed 23.3 line-kilometers of NSAMT (Figure 6). Initial results have identified numerous structural zones and geologic contacts at depths up to, and in some cases, exceeding 2,500 meters depth (Figure 7). A series of prominent resistivity and conductivity anomalies have been identified to date and Barksdale has engaged a third-party geophysical expert with extensive experience in similar geologic systems to review and interpret the survey results. Barksdale will provide additional updates to the market as these interpretations are finalized.
The Sunnyside-Taylor-Hermosa system is a very large mineralized system that has yet to be fully explored. In particular, Barksdale’s ground has only seen a handful of historic drill holes that targeted the skarn/manto portion of the system that flanks the Sunnyside porphyry to the east. All data indicates that the causative source of the polymetallic copper-zinc-lead-silver replacement deposits at Taylor-Hermosa is the Sunnyside porphyry complex located within Barksdale’s Sunnyside property. Barksdale is focused on not only defining the size and quality of the mineralized zone between the Sunnyside porphyry and the western edge of the Taylor-Hermosa deposit (the property boundary), but also additional skarn/mantos around the periphery of the Sunnyside porphyry.
Additional field and geophysical works for the 2019 field season are currently in planning stage. The additional data collected during these programs will allow Barksdale’s geologic team to build a portfolio of drilling targets that will be ranked, prioritized, and then drilled once the requisite permits have been received.
Sampling and QA/QC
Surface samples reported herein are a combination of select, rock chip, float chip and channel chip samples. Samples were taken under the direction of qualified geologists and adhered to strict QA/QC programs. Samples were labeled, sealed and delivered to ALS laboratories in Tucson, Arizona. All samples were dried, crushed and pulverized with the pulps being analyzed by ALS in Vancouver, British Colombia, Canada. Systematic assaying of standards, blanks, and duplicates is performed for precision and accuracy. Analysis for 33 element four acid ICP AES with gold analysis by fire assay with an AA finish.
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 Sunnyside contained in this news release.
Barksdale Capital Corp. is a base metal exploration company headquartered in Vancouver, BC, that is focused on the acquisition and exploration of highly prospective base metal projects in the United States. Barksdale’s portfolio of assets is located within a world-class base metal district in southern Arizona and are surrounded by some of the world’s largest mining companies.
ON BEHALF OF BARKSDALE CAPITAL CORP
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 contains “forward-looking information” under applicable Canadian securities legislation which relates to future events or future performance (including, but not limited to, the Company’s future exploration plans for the Sunnyside property) and reflects management’s current expectations and assumptions based on information currently available to the Company. Readers are cautioned that such forward-looking information is neither a promise nor guarantee, and is subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, actual results of exploration activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, availability of financing and other risks in the mining industry. There are no known resources or reserves on the Sunnyside property and the proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the close proximity of the Company’s Sunnyside property to South32’s Taylor-Hermosa deposit is not necessarily indicative of the mineralization within the Sunnyside property. All forward-looking information in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. 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.
Figure 1. Rock chip sample locations showing lead values in ppm. The surface projection of the currently defined Taylor-Hermosa zinc-lead-silver-copper deposit footprint is highlighted in gray. The known deposit and mineralized system remains open on the Sunnyside property to the NW and SW.
Figure 2. Rock chip sample locations showing copper values in ppm. The surface projection of the currently defined Taylor-Hermosa zinc-lead-silver-copper deposit footprint is highlighted in gray. The known deposit and mineralized system remains open on the Sunnyside property to the NW and SW.
Figure 3. Rock chip sample locations showing gold values in ppm. The surface projection of the currently defined Taylor-Hermosa zinc-lead-silver-copper deposit footprint is highlighted in gray. The known deposit and mineralized system remains open on the Sunnyside property to the NW and SW.
Figure 4. Rock chip sample locations showing silver values in ppm. The surface projection of the currently defined Taylor-Hermosa zinc-lead-silver-copper deposit footprint is highlighted in gray. The known deposit and mineralized system remains open on the Sunnyside property to the NW and SW.
Figure 5. Rock chip sample locations showing zinc values in ppm. The surface projection of the currently defined Taylor-Hermosa zinc-lead-silver-copper deposit footprint is highlighted in gray. The known deposit and mineralized system remains open on the Sunnyside property to the NW and SW.
Figure 6. Station locations for the NSAMT survey.
Figure 7. NSAMT section line 200. The black dashed line is the interpreted contact between Paleozoic carbonate rocks and overlying volcanic units.