Barksdale Defines Shallow Copper Porphyry Drill Target at San Antonio
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Barksdale Defines Shallow Copper Porphyry Drill Target at
San Antonio
Vancouver, B.C. – November 21, 2019 - Barksdale Capital Corp. (“Barksdale” or
the “Company”) (TSXV: BRO) (OTCQB: BRKCF) is pleased to announce the initial drill
target at the Cosmos porphyry copper-molybdenum-silver-gold prospect on its
recently acquired, and 100% owned, San Antonio property in Santa Cruz County,
Arizona.
Highlights
• Cosmos is a conceptual geophysical drill target located on the Company’s
100%-owned San Antonio project
• Results of integrated g eophysical surveys demonstrate coincident induced
polarity (IP) chargeability, magnetic, and gravity features that indicate the
presence of a shallow potential porphyry copper deposit
• The Patagonia Mountains are known to host three large, productive, and deep
porphyry systems that have been partially defined by previous explorers
Barksdale’s President and CEO, Rick Trotman commented, “We believe that our newly
acquired San Antonio project has a high value copper porphyry target located under
shallow gravel cover. We acquired the project because we saw clear indications of a
potentially large porphyry system that could yield a significant shallow discovery for
the benefit of our shareholders. The last major discovery of a copper porphyry in the
United States was Resolution in 1995, so we’re very pleased that we’ve been able to
add this exciting opportunity to our portfolio. Our team is actively developing a drill
program to test Cosmos as soon as possible.”
Porphyries in the Patagonia Mountains
The Patagonia mountain range hosts a series of early Tertiary aged intrusions that
have been emplaced into a series of Precambrian and Paleozoic rocks. These
intrusions are known to host m ultiple copper porphyry copper deposits, which were
discovered and explored by various mining companies in the 1970’s and 1980’s. This
historic work has identified three deposit s that have been partially d elineated by
modern drilling, including the Sunnyside, Red Mountain, and Ventura deposits. These
productive porphyries have been shown to be large (>200 million tons to +1 billi on
tons) and are typically well mineralized, yielding average grades between 0.25% and
0.60% copper, with accompanying credits of molybdenum, gold, and silver . The
historic challenge has been that the previous discoveries generally occur at significant
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depths, extending from 400m to over 1,500m . To date, these porphyry copper
deposits have not shown themselves to be economically viable, but the distal high-
grade mineral deposits associated with their emplacement have been mined for over
a 100 years, including epithermal silver-lead-zinc, copper-bearing breccia pipes, and
sedimentary rock hosted silver -lead-zinc mantos and skarns. The current focus of
district exploration efforts is on the manto and skarn deposits, such as those at
Sunnyside (Barksdale) and Taylor-Hermosa (South32). The discovery of a shallow
copper porphyry, which is what is being targeted at Cosmos, would likely have a
much lower economic threshold for development than the deep known copper
porphyry deposits in the district.
Figure 1. District claim map highlighting the approximate location of the Sunnyside, Ventura and Red Mountain porphyry copper
deposits. The red circles highlight the location of the Cosmos target (1) as well as the Sunnyside (2), Ventura (3) and Red Mountain
(4) porphyries.
San Antonio Project – Cosmos Porphyry Copper Drill Target
The San Antonio property is located approximately 5km southeast of the Company’s
Sunnyside project and forms a contiguous block of mineral claims extending north
from the Mexican border for approximately 5km (Figure 1). San Antonio is mostly
covered by a shallow veneer of Ternary gravels and alluvial deposits as seen in Figure
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2. These cover rocks have limited the ability fo r the property to be prospected by
traditional methods of geologic mapping and geochemical sampling , hence only an
initial phase of recent early-stage exploration has been completed and the property
remains untested by drilling . With the aid of modern geo physical techn ology, a
shallow drill target with a buried copper porphyry -like signature has been identified
near the center of the San Antonio claim block.
Figure 2. The majority of San Antonio is covered by thin gravels (yello w colors in figure on the left). Passive seismic soundings
have provided detail on the depth -to-bedrock (right) in covered areas. The Harshaw fault is shown as a blue line. Barksdale’s
claim position is outlined in magenta.
The Cosmos porphyry copper-molybdenum-gold-silver drill target is located on the
east side of the projected trace of a large regional structure known as the Harshaw
fault (Figure 2), which is a deep -seated structure that is known to control the
emplacement of multiple intrusions and their associated mineral deposits within the
Patagonia mountains. While more than 80% of the San Antonio project is covered in
Ternary gravels and alluvial deposits, passive seismic soundings have shown that the
cover material is relatively shallow over the Cosmos drill target, ranging from as little
as 10 meters in the southwest to forty meters in the northeast.
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Figure 3. A property scale gravity image (left) highlights the location of a potential buried intrusive, which is shown as a blue
embayment in the center of the figure. A regional, RTP, airborne magnetics image with an overlay of IP chargeability data (right)
identified a potential alteration effect magnetic low associated with the buried intrusive as highlighted in the various shades of
blue as well as a broad zone of potential sulfide mineralization (at 200m depth) highlighted by orange and red colors within the
magnetic low. The bold white line highlights the IP survey area shown in Figure 3. The Harshaw fault is shown as a blue line.
Barksdale’s claim position is outlined in magenta.
Additional geophysical surveys completed in 2018 by the previous owner of the
property have highlighted a series of coincident features indicate that an intrusive
body may be present in the subsurface. These surveys include gravity, magnetics,
and induced polarization (“IP”), which outline a circular shaped feature in the center
of the San Antonio project that is roughly 4,000 meters in diameter. A chargeability
anomaly that is approximately 1,000 meters north-south and 800 meters east-west
occurs within the boundaries of the assumed intrusive body and is consistent with
signatures seen with porphyry-hosted disseminated sulfide mineralization.
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Figure 4. Depth slices with chargeability data highlighting the Cosmos porphyry copper-molybdenum-silver-gold drill target. The
top of the IP anomaly is within 10 meters of surface and is present to the bottom of the survey limits at ~250m depth.
The Barksdale technical and permitting teams are current ly designing a first pass
drilling campaign that will seek to make a disc overy at Cosmos. Barksdale intends
to provide guidance early in 2020 with respect to anticipated drilling timeframes,
once the appropriate documentation has been submitted to the relevant permitting
agencies for review.
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 Capital Corp. is a base metal exploration company headquartered in
Vancouver, BC , that is focused on the acquisition and exploration of highly
prospective base metal projects in the United States. Barksdale’s portfolio of assets
is located within a world -class base metal district in southern Arizona and is
surrounded by some of the world’s largest mining companies.
ON BEHALF OF BARKSDALE CAPITAL CORP
Rick Trotman
President, CEO and Director
720-447-7705
Terri Anne Welyki
Vice President of Communications
778-238-2333
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For more information please phone 778-558-7145, email
[email protected] or visit www.BarksdaleCapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFOR MATION: 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 reasonab le, 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 equ ity 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, whethe r as a result of new information, future
events or otherwise, except as required by law.