Barksdale Provides Corporate Update
Barksdale Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2024) - Barksdale Resources Corp.
(TSXV: BRO) (OTCQX: BRKCF) ("
Barksdale
" or the "
Company
") announces that it is transitioning
away from the current drilling contractor at the Sunnyside project and that the Company has initiated a
search for a new drilling partner with the expertise necessary to effectively carry out the envisioned
wedging/directional drilling program.
Rick Trotman, President and CEO states, "After much consideration, the decision was made to suspend
the current drilling program at Sunnyside.
Following the recent challenges that were encountered during
multiple wedging attempts in SUN-03, we have begun the process of exploring alternative drilling groups
to ensure that our envisioned wedging/directional drilling program can be executed moving forward.
In
order to maintain cost-effectiveness and timeliness, given the depth to the CRD targets, it is critically
important that we find the right group to partner with at Sunnyside.
Following the initial success of SUN-
03, where we encountered multiple zones of CRD style mineralization, we believe that we have the
appropriate vectors to drill some exceptional targets.
Combined with the recently announced decision by
South32 to invest over US$2 billion to build the neighboring Taylor deposit into a significant world-class
zinc-lead-silver producer, we are very much looking forward to executing on our program."
Additional assays from SUN-03 remain outstanding and will be released to the market promptly once
received by the Company.
Further to the Company's News Release of January 9, 2024, announcing the
Company had closed a a first tranche of its private placement pursuant to a Listed Issuer Financing
Exemption ("
LIFE Financing
") originally announced December 20, 2023, the Company advises that a
second and final tranche of the Life Financing will not be completed and the LIFE Offering Document has
now expired.
Barksdale Resources Corp.
, a 2023 OTCQX BEST 50 Company, 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
Rick Trotman
President, CEO and Director
Terri Anne Welyki
Vice President of Communications
778-238-2333
For more information please phone 778-558-7145, email
or visit
www.BarksdaleResources.com
.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release includes "forward-looking information" under applicable Canadian securities legislation
including, but not limited to, the Company's goals for 2024; geological interpretations; the proposed
nature, size, timing, targets and impact of the Company's planned drilling program on the Sunnyside
project, anticipated drill and exploration results; the estimation of mineral resources; magnitude or
quality of mineral deposits; anticipated advancement of mineral properties or programs; future
operations; mine plans; future exploration prospects; the completion and timing of technical reports;
future growth potential of Barksdale Resources and future development plans for the Sunnyside
copper-lead-zinc-silver project; 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.
Historic drill results from the Sunnyside property are historic in nature and pre-date NI 43-101
standards.
They are for informational purposes only and should not be relied on.
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.
The Company's proposed drilling
program at Sunnyside is an exploratory search for commercial quantities of ore, the discovery of
which cannot be assured.
The geological similarity and close proximity of South 32's Hermosa project
(Taylor, Clark and Peake deposits) to Sunnyside is not necessary indicative of the mineralization at
Sunnyside. 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.sedarplus.ca
.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/198975