Barksdale Awaits for SEMARNAT’S Approval to Begin Drilling

Barksdale Resources Corp. has announced the main key areas of its 2021 technical program for its San Javier copper-gold project in Sonora. In addition, the company expects to receive approval from SEMARNAT in the coming weeks to begin Phase 1 of its drilling program.

The San Javier property has 12 separate mining concessions totaling 1,184 ha, where multiple zones of copper mineralization have been identified. These zones have been associated with an “iron oxide-copper-gold style system, hosted within Laramide-age intermediate-to-felsic volcanic rocks.“  The company's mineral prospects include Cerro Verde, La Trinidad and Mesa Grande. Of the three mineralization zones, Cerro Verde is the most advanced in exploration.

San Javier’s resource estimate is “above 0.05 percent recoverable copper cut-off based on a $2.50 per pound copper price.” Barksdale is currently seeking to replace historical estimates at San Javier, as the company believes those resources are unreliable. As a result, the company is currently reviewing all the data to build an updated geological model that incorporates key geological and structural data. The new estimates will be used as a guide in future exploration and drilling.

Barksdale expects to begin its 5,000m drill program in July; however, it still needs approval from SEMARNAT and local communities. The company is currently choosing a drilling contractor so that its program can begin once SEMARNAT gives the green light to the project. In addition, Barksdale is close to reaching a long-term agreement with the San Javier community that owns the surface rights of the company's concessions. The agreement will allow Barksdale to continue exploring and working in the area.

Drilling will begin in the Cerro Verde zone, where previous programs identified significant copper oxide-gold mineralization of up to 200m. The company's goal is to confirm the historical work and structure of the area, which is believed to have higher mineralization. In addition, the company plans to carry out a metallurgical testing program to better understand the routes of the gold and copper mineralization.

Phase 1 of the Cerro Verde drilling program will begin with a single diamond drill rig and subsequently, multiple holes will be drilled to collect more material and carry out a metallurgical leaching test work. Phase 1 will also focus on collecting more data from zones of mineralization where drilling data is lacking and on better understanding the controls and dimensions of the mineralization.

"With the first holes expected to commence within the next six to eight weeks, this comprehensive program and the results that follow will certainly be an exciting time for Barksdale and its shareholders," said Rick Trotman, President and CEO of Barksdale.