News Logo

December 17, 2014

Bisha Mining Extends Harena with Additional High Grade Drill Results

 

HIGHLIGHTS

  • Intersections of massive sulphide including:
    • HX-040:  1.78% Cu, 5.78% Zn, 0.53 g/t Au, 31 g/t Ag over 32.0 m
    • including 4.19% Cu, 0.65% Zn, 1.12 g/t Au, 70 g/t Ag over 11.9 m
    • and 0.35% Cu, 8.82% Zn, 0.18 g/t Au, 8 g/t Ag over 20.1 m
  • HX-041:  1.10% Cu, 3.04% Zn, 0.63 g/t Au, 36 g/t Ag over 50.0 m
  • and 2.24% Cu, 6.46% Zn, 2.60 g/t Au, 87 g/t Ag over 3.9 m
  • Intersections display a significant grade improvement over the historical resource grade
  • Mineralization remains open with significant widths still being encountered
  • Borehole geophysics indicates deposit has substantial growth potential at depth and along strike
  • Additional drilling and geophysical surveys ongoing

Bisha Mining Share Company (BMSC or the Company) is pleased to announce new assay results from exploration drilling completed on the Harena Mining License located 10 kilometers south of the Bisha Mine and processing plant.  The drilling is part of the 2014 Bisha Regional Exploration program.

BMSC Chairman Cliff Davis commented, “Our exploration program is demonstrating the enormous growth potential of the Bisha VMS District.  Our exploration methodology and execution has been very effective and we will continue to employ it over the entire under-explored Bisha area.  Results from our work to-date at Harena will be included in the Company’s annual mineral reserve and resource statement, expected in February 2015.  In 2015, exploration work will be expanded at Harena and will continue across the Bisha VMS District with further diamond drilling and geophysical programs.”

The 2014 Bisha Mining Share Company exploration program successfully completed 27,300 meters of diamond drilling, 228 square kilometers of helicopter-borne Versatile Transient Electromagnetic (VTEM) surveys, 20 square kilometers of ground and 40 borehole Transient Electromagnetic (BHTEM) surveys.

Harena Drill Results

The 2014 Harena exploration results reported today are part of an on-going program designed to expand the deposit beyond the known resource (see also press releases dated August 18, September 23 and November 13, 2014).  Drilling is being guided by BHTEM surveys as the massive sulphides give strong electromagnetic (EM) responses.  Numerous in-hole, edge and off-hole responses have been detected and the drilling of these targets has been very successful.  A plan map of the drilling and representative sections are attached at the end of this release.

Holes HX-040 and HX-041 were drilled to test greater than 100 meter wide gaps in the drill pattern of Harena above the 400 meter depth level.  Both holes hit considerable intervals of massive sulphide that is recrystallized and coarse grained and contain appreciable chalcopyrite and sphalerite.  This mineralization should be simple to process metallurgically.  BHTEM surveys completed in these holes, coupled with the survey results from neighboring holes have defined a large geophysical plate that extends well below the current level of drilling.

The two drill holes reported today are believed to be drilled in the core of the Harena deposit based on the thickness of massive sulphide intersected and the increased base metal content.  These holes clearly demonstrate that Harena has the potential for further growth.  The Harena mineralization is open at depth and down plunge.  The massive sulphide zone is thick and the host felsic volcanic unit continues to be highly altered, suggesting that the deposit is robust and likely to continue at depth.  Future drilling will assess this potential.

Harena Intersections (not previously reported)

HOLE
ID

From (m)

To (m)

Length
(m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

HX-040

407.2

439.2

32.0

1.78

5.78

0.53

31

includes

407.2

427.3

20.1

0.35

8.82

0.18

8

and

427.3

439.2

11.9

4.19

0.65

1.12

70

463.0

463.5

0.5

0.03

0.01

5.51

61

HX-041

298.5

299.5

1.0

0.52

3.69

0.15

24

312.1

316.0

3.9

2.24

6.46

2.60

87

 

328.7

378.7

50.0

1.10

3.04

0.63

36

Harena 2014 Selected Assay Results (previously reported)

HOLE
ID

From

(m)

To

(m)

Length
(m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

Main Sulphide Zone

HX-004

170.00

180.45

10.45

2.30

0.91

1.30

42.9

HX-005

171.50

190.00

18.50

1.77

3.99

1.22

77.9

HX-006

189.10

206.80

17.70

1.28

3.71

0.56

41.7

HX-006

223.60

231.40

7.80

1.07

1.79

0.60

47.7

HX-011

207.80

229.30

21.50

0.75

5.18

0.40

43.4

HX-011

272.70

281.20

8.50

0.51

2.84

1.03

42.2

HX-012

230.30

289.00

58.70

0.66

2.43

0.20

24.1

includes

275.50

289.00

13.50

0.96

6.57

0.30

30.1

HX-017

235.40

277.00

41.60

0.85

3.96

0.40

43.6

HX-021

188.40

225.20

36.80

1.82

2.66

0.40

40.6

HX-022

273.50

283.40

9.90

2.66

0.96

0.79

44.8

HX-022

372.20

399.00

26.80

0.48

0.54

0.57

33.1

HX-023

387.00

425.00

38.00

1.04

3.82

1.05

28.5

HX-025

288.10

306.00

17.90

0.37

1.72

3.13

85.5

 

Footwall Gold Zone

HX-006

239.00

247.00

8.00

0.38

0.21

7.64

140.1

HX-008

187.00

204.15

17.15

0.71

0.22

6.15

241.6

HX-012

291.00

301.00

10.00

0.15

0.25

6.22

83.1

HX-012

316.00

320.00

4.00

0.01

0.01

8.78

93.8

HX-019

264.50

270.00

5.50

0.56

0.23

8.04

119.7

HX-020

258.00

272.00

14.00

0.25

0.11

8.50

146.2

HX-023

420.00

425.00

5.00

0.53

0.04

5.60

50.2

HX-025

297.00

306.00

6.50

0.37

0.04

6.59

184.6

Quality Assurance

A Quality Assurance/Quality Control program was part of the sampling program for the Harena work.  This program includes chain of custody protocols as well as systematic use of standards, duplicates and blank samples into the flow of samples produced by the sampling. Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.  Drilling intercept lengths only are reported in the tables and text below.

Mr. Robert Foy P.Geo., BMSC’s Exploration Manager, has been overseeing the drilling at Harena and is a Qualified Person as defined by NI 43-101.  Mr. Foy has reviewed the technical content of this press release and approved its dissemination.

 

Forward Looking Statements

The above contains forward-looking statements regarding drill results and future exploration plans. Forward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimated,” “potential,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could” or “should” occur or be achieved. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors.  The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future.

Bisha Mining Share Company

“Cliff T. Davis”

Cliff T. Davis
Chairman

 

Figure 1. Harena Mine – Drillhole Location Map

Drill hole location map

Figure 2. Harena - Section A-A’ L6000

Section A-A

Figure 3. Harena - Section B-B’ L6150

Drillhole section

Figure 4. Harena – Longitudinal Projection looking northwest

 Harena – Longitudinal Projection looking northwest

Note: Drill holes shown are key holes used to define the borehole geophysical model.

Harena Collar Locations

HOLE

ID

UTM

Easting

UTM

Northing

Elevation

Depth (m)

Dip

Azimuth

HX-040

334310

1707685

602

535.5

-62

125

HX-041

334429

1707775

601

491.0

-65

125

Note: Collar coordinates are in UTM WGS84 Zone37N