Business
Barksdale to Acquire Copper Asset and Announces Financing
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About this update from Barksdale Resources Corp.
[{"type":"text","content":"Barksdale to Acquire Copper Asset and Announces FinancingTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / August 6, 2020 / Barksdale Resources Corp. (\"Barksdale\" or the \"Company\") (TSXV: BRO) (OTCQB: BRKCF) is pleased to announce that it has signed a binding Letter of Intent (the \"LOI\") securing an option to acquire a 100% interest in the San Javier copper-gold project in Sonora, Mexico (the \"Transaction\") from Tusk Exploration Ltd. (\"Tusk\"), a private British Columbia company.San Javier Project HighlightsAcquisition of a high-quality, developable copper asset located within close proximity to Barksdale's Arizona asset portfolio\"Under the radar\" private opportunity with multiple shallow copper zones located immediately adjacent to a national highway and power gridSignificant exploration potential upside in an under-explored districtData-rich environment with approximately 30,000 meters of historical drilling with significant copper intercepts, including 191.6 meters grading 0.43% copper (oxide) and 15 meters grading 4.34% copper and 0.94 g/t gold (sulfide)Historically overlooked gold-dominated drill intercepts such as 30.0 meters of 1.72 g/t gold (oxide) as well as 9.0 meters grading 5.23 g/t gold (oxide)Following the closing of the Transaction, Barksdale will be a well-financed base and precious metal explorer with an actionable copper-gold project in Mexico and attractive copper-zinc-lead-silver-gold exploration assets in an emerging and valuable base metal exploration district in the United States. The Transaction is an initial step in Barksdale becoming a larger multi-asset company and will accelerate our entry into a potential growth phase driven by high-impact exploration that will begin in the next few months.Rick Trotman, CEO of Barksdale said: \"Our sights are firmly set on making discoveries that have the potential to deliver significant upside to our shareholders. The acquisition of San Javier will not only add a new district with robust discovery potential to our asset base, but it should also serve as a strong catalyst to enhance our engagement with our excellent shareholder base as we drive our permitting processes at Sunnyside and San Antonio to completion. We are entering an exciting phase of growth at Barksdale a...