Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Vancouver-based Barrian Mining (TSX-V: BARI) announced that it recently completed induced-polarization and resistivity geophysical survey at its flagship Bolo gold property, located 90 kilometres northeast of Tonopah, central Nevada.
In a media statement, Barrian said that the survey identified multiple high-priority anomalies that warrant follow-up reverse circulation drill testing. These new anomalies and drill-indicated zones provided a +1.1 kilometre strike length geophysical signature.
Historical drill results at the property include 1.28 g/t gold over 133 metres from surface
“We are very encouraged by the positive results of the recently completed geophysical survey,” Max Sali, the company’s CEO, said in the press brief. “The results have exceeded our expectations and define multiple high priority resistivity anomalies that warrant immediate drill testing at depth below the South Mine Fault Zone, and along strike towards the Northern Extension Zone.”
Sali explained that the IP/resistivity survey completed at Bolo comprised 10.2 line-kilometre over 9 lines targeting the ‘Mine Fault’ and other mineralized structures that host the Uncle Sam, South Mine Fault and Northern Extension mineralized zones.
“The survey extends 1,100 metres north to south, covering an area of approximately 135 hectares. The anomalous geophysical signatures have provided an essential tool for drill-planning and positioning during the fully funded summer drill program,” the executive said. “The program will include step-out and infill drilling to extend gold-silver mineralization across the 1.1-kilometre trend. All zones remain open in all directions and require drill testing.”
The Bolo project consists of 187 unpatented lode mining claims and one patented lode mining claim, and it hosts Carlin-type gold mineralization. Notable historical drill results include 1.28 g/t gold over 133 metres from surface.
