Barrian Mining commences trading on the TSX Venture Exchange under the symbol 'BARI' and provides operational update
TSX VENTURE: BARI
VANCOUVER, April 29, 2019 /CNW/ - Barrian Mining Corp. ("Barrian" or the "Company") (TSXV: BARI) is pleased to announce that the common shares of Barrian commence trading today on the TSX Venture Exchange under the trading symbol "BARI". As announced on April 24, 2019, the IPO raised aggregate gross proceeds of $2,672,400.
Barrian is currently finalizing 2019 exploration plans at its flagship Bolo Gold Property which will include surface geochemical sampling and mapping, geophysics, and drilling. The Company will provide additional news updates over the coming weeks. Barrian's catalyst for growth will include expanding the existing mineralized zones and targeting of new discovery zones. The Company will focus on expanding previous South Mine Fault area drill intercepts that included 3.24 grams-per-tonne (g/t) gold over 30.5 metres from a downhole depth of 44.2 m, within a broader zone of mineralization averaging 1.28 g/t gold over 133 metres* from surface (Drill Hole BL-38).
Barrian's geological consultants, APEX Geoscience Ltd. ("APEX") are in the final stages of producing a comprehensive digital compilation and three dimensional (3D) model incorporating historic exploration work at Bolo, including detailed geological mapping, over 1,000 rock and trench samples, more than 13,000 metres of drilling data, and newly acquired high-resolution satellite imagery and digital surface model. This new geological analysis and data reinterpretation will guide the exploration going forward which management believes will be key to unlocking much more value at the project.
In addition, the Company is pleased to announce that an Induced Polarization and Resistivity (IP/RES) survey is currently underway at the Bolo Gold Property, targeting the "Mine Fault" and other mineralized structures that host the Uncle Sam, South Mine Fault and Northern Extension mineralized zones. The survey extends 1,100 metres north to south, covering an area of approximately 135 hectares. The Company expects the IP/RES survey to be complete by the end of April.
The upcoming 2019 drilling program will focus on extending mineralization along the Mine Fault and parallel mineralized structures, stepping out from the South Mine Fault Zone towards the Northern Extension zone and south towards the Uncle Sam prospect. Previous drill intercepts at Uncle Sam included 106.9 g/t silver over 12.2 metres** from a downhole depth of 71.6 metres, within a broader zone of 42.2 g/t silver over 83.8 metres** from surface. Channel rock chip sampling at Uncle Sam returned high grade silver plus gold assays including 3,146 g/t silver with 1.0 g/t gold over 2.6 metres, and 365 g/t silver with 1.9 g/t gold over 3.6 metres**.
Max Sali, Chief Executive Officer, stated, "We are very pleased to introduce Barrian Mining Corp. to the capital markets and investment community. We've assembled an aggressive and experienced team who share a vision to realize the significant potential of our project base including our flagship Bolo Gold Property in Nevada, one of the world's most prolific regions for mining precious metals. Our geological team brings years of focused expertise in Nevada and we believe that previous results have only just scratched the surface at Bolo. With a new look and strategy going forward at the project, we are excited to conduct the next phases of exploration including an upcoming drill program this summer."
* 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."
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 Disclosure for Mineral Projects.
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.
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; * 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.