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November 13, 2014

Bisha Mining Announces Additional Positive Exploration Drilling Results for Harena

 

HIGHLIGHTS

  • Intersections of massive sulphide including:
    • Hole HX-021:  1.82% Cu, 2.66% Zn, 0.40 g/t Au, 40.6 g/t Ag over 36.8 meters
    • Hole HX-022:  2.66% Cu, 0.96% Zn, 0.79 g/t Au, 44.8 g/t Ag over 9.9 meters
    • Hole HX-023:  1.04% Cu, 3.82% Zn, 1.05 g/t Au, 28.5 g/t Ag over 38.0 meters
  • High grade gold-rich footwall stringer intersections including:
    • Hole HX-025:  0.37% Cu, 1.72% Zn, 3.13 g/t Au, 85.5 g/t Ag over 17.9 meters
  • Deposit now extended 350 meters down plunge from original resource to a depth of 400 meters
  • Mineralization remains open with good widths still being encountered
  • Additional drilling and geophysical surveys ongoing

Bisha Mining Share Company (BMSC) is pleased to announce further 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, “The exploration program at Harena continues to demonstrate the growth potential of the known resources.  Harena and Bisha are both still open at depth and the greater Bisha area remains under-explored.  We will continue to further assess Harena and the greater potential of the Bisha VMS district over the remainder of 2014 and into 2015.”

2014 Regional Exploration Program Update

To date, BMSC has completed approximately 24,000 meters of a 27,000 meter planned diamond drilling program.  Diamond drilling is in progress at Harena with two diamond drills operating and is scheduled to resume on the Mogoraib River Exploration License later in November once crops have been harvested following a healthy rainy season.  Geophysical surveys are also in progress and consist of ground and borehole Transient Electromagnetic (BHTEM) surveys.  These surveys have been instrumental in guiding the drilling at Harena.

 

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 news releases dated August 18 and September 23, 2014).  Drilling is being guided by BHTEM surveys as the massive sulphides give strong electromagnetic responses.  Numerous in-hole, edge and off-hole responses have been detected and the drilling of these targets has been successful.  A plan map of the drilling and representative sections are attached at the end of this release.

Thick intervals of massive, semi-massive and stringer sulphides have now been encountered down to a depth of 400 meters below surface and 350 meters down plunge and to the south of the resource as reported in the December 31, 2013, Mineral Resource and Reserve Statement.  Hole HX-023 is the deepest hole drilled to-date at Harena and intersected 38.0 meters of massive sulphide grading 1.04% Cu, 3.82% Zn, 1.05 g/t Au and 28.5 g/t Ag.  Intensely sericite and chlorite altered felsic volcanic rocks with associated sulphide stringer zones continue to be intersected in the footwall and immediately along strike of the massive sulphides.  These stringer zones often have high precious metal values such as in hole HX-025 which returned 3.13 g/t Au and 85.5 g/t Ag over 17.9 meters including 6.5 meters grading 6.59g/t Au and 184.6 g/t Ag.

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.

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– Drillhole Location Map

Map

Figure 2. Harena - Section A-A’ L5900

Section A-A

Figure 3. Harena - Section B-B’ L5950

Section B-B L5900

Figure 4. Harena – Section C-C’ L6100

Section C-C'

Figure 5. Harena – Section D-D’ L6100

Section D-D' L6100

Harena Intersections (not previously reported)

HOLE
ID

From (m)

To (m)

Length
(m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

HX-021

188.40

225.20

36.80

1.82

2.66

0.40

40.6

includes

188.40

199.00

10.60

1.11

4.64

0.25

34.6

and

199.00

214.00

15.00

3.00

0.65

0.55

55.5

and

214.00

221.00

7.00

0.29

4.79

0.20

20.1

and

221.00

225.20

4.20

1.94

1.28

0.59

36.4

HX-022

273.50

283.40

9.90

2.66

0.96

0.79

44.8

includes

276.00

280.00

4.00

5.15

1.87

0.94

76.0

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

includes

387.00

412.00

25.00

0.62

5.40

0.23

18.5

and

412.00

420.00

8.00

2.70

1.28

0.76

46.3

and

420.00

425.00

5.00

0.53

0.04

5.60

50.2

HX-024

No Significant Values

 

 

 

 

 

HX-025

288.10

306.00

17.90

0.37

1.72

3.13

85.5

includes

288.10

295.50

7.40

0.58

4.12

1.78

44.2

and

297.00

306.00

6.50

0.37

0.04

6.59

184.6

HX-026

No Significant Values

 

 

 

 

 

HX-027

No Significant Values

 

 

 

 

 

Note: True widths are estimated to be 80-90% of drilled core length

Harena Collar Locations

HOLE

ID

UTM

Easting

UTM

Northing

Elevation

Depth (m)

Dip

Azimuth

HX-021

334600

1707800

601

308.0

-60

125

HX-022

334455

1707845

600

493.5

-60

125

HX-023

334364

1707720

601

495.8

-65

125

HX-024

334569

1707945

599

473.0

-70

125

HX-025

334366

1707550

603

428.5

-70

125

HX-026

334685

1708045

598

496.0

-70

125

HX-027

334084

1707160

606

403.5

-55

125

Note: Collar coordinates are in UTM WGS84 Zone37N