Vancouver, British Columbia--(Newsfile Corp. - April 13, 2023) - Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) ("Barksdale" or the "Company") is pleased to provide a permitting update related to the proposed Sunnyside copper-zinc-lead-silver exploration program in Arizona.
On March 13, 2023, the United States Forest Service ("USFS") completed the 45-day objection period, which represented the final opportunity for public input into the permitting process for the Sunnyside project. Two objections were filed during the objection period and the USFS is currently working on providing detailed responses, which will be sent to the respective parties in due course. The USFS has informed the Company that it will utilize the 30-day extension to the 45-day objection response period. As such, the USFS currently forecasts completion of the objection response period on or before May 29, 2023.
Barksdale is currently gearing up for its initial drilling program at Sunnyside, which will commence as soon as possible once all the requisite approvals have been provided by the USFS. Drilling could begin as early as June 2023. In preparation for this campaign the Company has received multiple bids from licensed drilling companies to complete an initial ~16,500-meter drilling program (~50,000 feet). Final drill contractor selection will occur shortly, with final selection focused on the best mix of drilling crew quality, rig availability, and costs. Additionally, to initiate work at Sunnyside, the Company will be required to post an environmental performance bond with the USFS. Discussions are underway with an insurance company willing to provide a surety policy to cover a portion of Barksdale's costs.
"We moved through the objection period better than expected and are now gearing up to drill," stated Rick Trotman, President and CEO of Barksdale. "We're roughly two months away from kicking off our first drilling program at Sunnyside, where we are targeting a very large carbonate replacement system that has shown itself to contain high grade copper-zinc-lead-silver mineralization."
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.
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 expected publication and timing of the USFS Decision Memorandum and estimated timing and approval of the Company's Plan of Operations ("PoO") for the Sunnyside copper-lead-zinc-silver project; the proposed nature, size, timing, targets and impact of the Company's planned drilling program on the Sunnyside project following approval of the PoO and the ability of the Company to obtain the requisite staffing, bonding and financing therefor; and the potential impact of seasonal drilling restrictions on the ability of the Company to effectively carry out such program. 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. There are no assurances that the Company's PoO for the Sunnyside property will be approved by the USFS on the basis currently contemplated or at all. In addition, the Company's proposed drilling program at Sunnyside is an exploratory search for commercial quantities of ore, the discovery of which cannot be assured. There are currently no NI 43-101 resources or reserves on the Sunnyside property. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and rising inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. 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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