Having just begun trading only two weeks ago, Barrian Mining (BARI.V) already has boots on the ground at its flagship Bolo Project (it took less than one year to go from concept to company).
Bolo is a 3,332-acre package of claims located 90 kilometers northeast of Tonopah, Nevada.
In case you weren’t aware, Nevada is a top shelf mining destination.
According to the Fraser survey:
“The top jurisdiction in the world for investment based on the Investment Attractiveness Index is Nevada, which moved up from 3rd place in 2017.”
A bit of geology
Bolo is a Carlin-type setting – its mineralization is similar to the Pinson, Lone Tree/Stonehouse, and Turquoise Ridge/Getchell gold deposits, all multimillion-ounce orebodies defined by high-angle structures.
Surface sampling has defined widespread gold mineralization along two parallel north-south trending faults – the Mine Fault and the East Fault.
Significantly, alteration along the Mine Fault has been traced for 2,750 meters – outcrop samples returned gold values of up to 8.6 g/t gold.
The East Fault has been traced for 2,200 meters and has sampled up to 4.7 g/t gold.
Widespread anomalies offer numerous zones and targets for further exploration.
Modern-day geophysics and geochemistry will help fine-tune and prioritize these target areas.
- Hole DH-BL-38: 133 meters of 1.28 g/t gold from surface (includes 30.5 meters of 3.24 g/t gold).
- Hole DH-BL-39: 90 meters of 1.0 g/t gold from surface.
- Hole DH-BL-41: 52 meters of 1.27 g/t gold from surface.
- Hole DH-BL-54: 58 meters of 41.13 g/t silver from surface (includes 7.6 meters of 220 g/t Ag).
Previous drilling on the property established three main zones that appear to belong to the same structure.
The company’s goal is to connect the dots between these zones and establish continuity.
If the truth machine (drill rig) succeeds in establishing continuous mineralization along the entire 1.2-kilometer structure, the tonnage (and ounces) will really begin to pile up.
For more background on the company, Bolo and the other asset in the project portfolio (the past producing high-grade Sleeper Asset in New Mexico) tap the following links and get current on this dynamic junior ExplorerCo.
The following podcast featuring Equity.Guru’s Chris Parry is also a superb source of info:
The May 13th news
Barrian Mining Corp. Provides Update on Bolo Work Program
Barrian has just completed an induced polarization and resistivity (IP/RES) program at Bolo. These surveys targeted the “Mine Fault” and other mineralized structures that host the Uncle Sam, South Mine Fault and Northern Extension zones.
The Company expects to receive final inverted data from the geophysical contractor, Las Vegas Nevada-based, KLM Geoscience LLC within the next week, and will issue further news following data interpretation by APEX Geoscience LTD (“APEX”) and Barrian Director and qualified person Kris Raffle, P.Geo.
This data will light up the area and help the company fine-tune some of its higher priority drill targets for an upcoming drilling campaign.
Regarding drilling: all of the necessary permits are in hand. The current plan allows for the drilling of up to three holes from 79 drill sites, in addition to the construction 7.6 kilometers of new access roads.
In addition to being fully permitted for the upcoming drill program Barrian has signed a contract with a nearby property owner and water rights holder to provide water / water hauling services sufficient for all planned 2019 drilling activities.
Maximilian Sali, Barrian CEO:
“Barrian remains on schedule and on budget in preparation for our summer drill program of around 1800 metres where previous drill results have shown mineralization from surface. We are currently awaiting dates from the landowner to provide accommodations to the drill team on site which will save significant costs instead of commuting back and forth from Tonopah in terms of time, fuel and hotel expenses. We look forward to announcing the drill dates in the near future.”
Speaking of management, this team is stacked with talent.
This downturn in the mining cycle is getting a little long in the tooth. It’s the longest running sector downturn, ever.
When the cycle turns, when the trend reverses, the upside trajectory will be breathtaking. It may even rival what we witnessed in the weed space over the past few years.
The company has 40.19 million shares outstanding, roughly $2.9M in cash, and a market cap of $6.03M based on its recent trading patterns.
Expect steady newsflow out of Bolo as drill rigs and ground crews are mobilized.
This could be a good one. We stand to watch.
~ ~ Dirk Diggler
Feature image extracted from the company’s Corp Video.
Full disclosure: Barrian Mining is an Equity.Guru marketing client. We own stock.