03:18:02 EDT Thu 18 Jul 2024
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Barksdale Resources Corp
Symbol BRO
Shares Issued 81,128,231
Close 2023-09-22 C$ 0.60
Market Cap C$ 48,676,939
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Barksdale Resources begins drilling at Sunnyside

2023-09-25 11:02 ET - News Release

Mr. Rick Trotman reports

BARKSDALE IS DRILLING AT SUNNYSIDE

Barksdale Resources Corp. has commenced drilling at its Sunnyside copper-lead-zinc-silver exploration project in Arizona, with the first hole currently at approximately 765 metres depth. Additionally, 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 the company's 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 toward 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 1980s.
  • Hole SUN-001 is currently at 765 metres depth and will test for mineralized horizons within the Concha and Scherrer carbonate units occurring from an approximate depth of 1,200 metres.

Rick Trotman, president and chief executive officer 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 under way is a fantastic achievement. We look forward to providing additional updates as we advance the drilling program."

The first hole from the planned approximately 16,000-metre drilling program is currently under way at the Boundary zone target, located between the eastern property boundary and the previously drilled Sunnyside copper-molybdenum-silver porphyry system. 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 1980s that encountered approximately 362 metres of highly altered carbonate rocks hosting over a dozen mineralized intervals of CRD mantos of massive sulphide mineralization. The Boundary zone target is roughly 1.1 kilometres long (northwest-southeast) by 700 metres wide (southwest-northeast), plunging shallowly (five to 15 degrees) to the northwest and dipping to the northeast (20 to 40 degrees).

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 channelling 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 comprising Jurassic and Triassic volcanic rocks, which acted as an aquitard for deposition of polymetallic (copper-zinc-lead-silver) 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, 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.

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 1980s was intact from surface to 762 metres. After re-entering 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 metres depth at a lateral distance approximately 50 metres 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 herein.

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 to complete the initial drilling program at Sunnyside, utilizing two diamond drill rigs. Boart has a long and distinguished 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 Sept. 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 plaintiff appealed that ruling to the United States Court of Appeals for the 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.

About Barksdale Resources Corp.

Barksdale, 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.

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