Vancouver, British Columbia--(Newsfile Corp. - April 5, 2022) - Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) ("Barksdale" or the "Company") is pleased to announce that the United States Forest Service ("USFS") has approved Barksdale's proposed drill program at the 100% owned San Antonio copper project in Santa Cruz County, Arizona. This is the first drill approval received by Barksdale on USFS administered mining claims in the Patagonia district, where the Company controls a significant mineral tenure across six properties.
- Barksdale to complete up to a 3,000-meter Phase I reverse circulation drilling program at the Cosmos drill target on the San Antonio property
- Cosmos is a shallow copper porphyry target, identified via multiple geophysical surveys, which highlight coincident magnetic, gravity, and chargeability anomalies
- The Patagonia Mountains are known to host three large, productive, and deep porphyry systems that have been partially defined by previous explorers whereas Cosmos is a very shallow target that has never been drill tested
- The San Antonio drill approval is the first of two drilling approvals being sought by Barksdale
Rick Trotman, President and CEO of Barksdale stated: "I'm very happy to announce this major milestone at San Antonio, a core portfolio holding located a few kilometers southeast of the Company's Sunnyside property. We acquired San Antonio from Teck in 2019 as we saw clear indications of a potentially large porphyry copper system and after several years of diligent effort, we are now excited to drill test the target."
Barksdale's team has worked closely with the USFS to avoid project impacts and designed the initial Phase-I drilling program at San Antonio to be a quick and low-cost test with the smallest possible footprint, little to no ground disturbance, that only operates during daytime hours. The drilling will be conducted via reverse circulation methods and the entire program is expected to be completed, and remediated, in under 60 days from mobilization of the drill rig. Given the limited impacts and short duration of the program, the USFS has approved the San Antonio project as a Categorical Exclusion ("CE") under the National Environmental Policy Act ("NEPA"). Barksdale has proposed, and the USFS has agreed, to avoid completing the drilling program during the Yellow-Billed Cuckoo breeding season which runs from May 15 to August 31. As such, Barksdale anticipates a fall drilling program at San Antonio after posting an environmental bond and securing a drilling contractor for the program.
The San Antonio project is 100% controlled by Barksdale, subject to a 1.5% net smelter royalty payable to Teck Resources, which also has a project-level right of first refusal on the property.
Barksdale Resources Corp. 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.
ON BEHALF OF BARKSDALE RESOURCES CORP
President, CEO and Director
Terri Anne Welyki
Vice President of Communications
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes "forward-looking information" under applicable Canadian securities legislation including, but not limited to, the existence of a potential shallow porphyry copper deposit on the San Antonio project and the Company's initial drill target thereon. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company 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. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. In addition, the regional proximity and similarity of the Cosmos drill target to certain large porphyry copper deposits in the Patagonia mountain range is not necessarily indicative of the mineralization on the San Antonio property. There are currently no NI 43-101 resources or reserves on the San Antonio property. All forward-looking information contained 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.
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