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December 1, 2015

 

Bisha Mining Continues to Intersect High Grade Mineralization at Harena

 Bisha Mining Share Company (BMSC or the Company) is pleased to announce new assay results from drilling at Harena which is part of the on-going 2015 Regional Exploration program.

HIGHLIGHTS

  • New drilling demonstrates continuity of Harena mineralization
  • New select massive sulphide intersections at Harena include:
    • HX-069:  115.2 m @ 0.79% Cu, 4.95% Zn, 0.45 g/t Au, 14 g/t Ag, including 39.6 m @ 0.60% Cu, 10.21% Zn, 0.58 g/t Au, 19 g/t Ag
    • HX-071:  49.7 m @ 0.66% Cu, 7.94% Zn, 0.32g/t Au, 17g/t Ag, including 35.9 m @ 0.33% Cu, 10.20% Zn, 0.23g/t Au, 13g/t Ag
    • HX-068A:  38.0 m @ 0.86% Cu, 7.30% Zn, 0.35 g/t Au, 13 g/t Ag
  • New stringer / semi-massive intersections at Harena include:
    • HX-070:  24.7 m @ 1.95% Cu, 1.25% Zn, 0.93 g/t Au, 86 g/t Ag, including 12.1 m @ 3.44% Cu, 0.44% Zn, 1.17 g/t Au, 128 g/t Ag
    • HX-066:  42.0 m @ 1.11% Cu, 0.93% Zn, 1.46 g/t Au, 55 g/t Ag, including 5.50 m @ 0.67% Cu, 0.33% Zn, 4.79 g/t Au, 141 g/t Ag
  • Harena still open with geophysical modeling suggesting further expansion potential possible
    Drill intercepts are estimated to be 70% of the true width

BMSC Chairman, Cliff Davis commented, “Our drilling at Harena continues to produce excellent results.  We are very encouraged by the higher zinc grades being encountered at depth in addition to the continuous copper-rich zone.  Harena remains open at depth and there is still considerable potential along strike to the north and south.  Drilling in 2015 has tightened our drill spacing to 100 metre centres down to a depth of 600 metres below surface.  An updated mineral resource estimate is due out in early January 2016”.

Harena

Harena is located 10 kilometres south of the Bisha processing plant and drilling continues to expand the deposit along strike and at depth.  Many of the results reported in today’s update are part of an in-fill program designed to tighten the drill spacing at Harena down to a maximum of 100 metre centres.

Hole HX-069, intersected the thickest zone of massive sulphides yet encountered at Harena.  Massive sulphides occur over a 115.2 metre interval which also includes three cross cutting mafic dikes.  The upper part of the mineralization is particularly zinc-rich with a grade of 10.21% zinc over 39.6 metres.  High zinc grades were also encountered in the massive sulphides intersected in holes HX-068A (8.62% Zn over 31.5 metres) and HX-071 (10.20% Zn over 35.9 metres).

The mineralization continues to display a consistent metal zonation pattern that consists of a sphalerite and pyrite, zinc-rich upper zone and a lower chalcopyrite and pyrite, copper-rich basal zone.  Basal copper-rich zones were intersected in holes HX-066 (2.84% Cu over 9.0 metres), HX-068A (3.53% Cu over 6.5 metres), HX-069 (2.31% Cu over 24.2 metres), HX-070 (3.44% Cu over 12.1 metres) and HX-071 (1.61% Cu over 12.7 metres).

Significant extents of copper-rich stringer mineralization with elevated precious metals were intersected beneath the massive sulphides in holes HX-066 (1.11% Cu, 1.46 g/t Au, 55g/t Ag over 42.0 metres including 2.84% Cu, 0.92 g/t Au, 59 g/t Ag over 9.0 metres and 0.39% Cu, 2.71 g/t Au, 86 g/t Ag over 11.0 metres) and HX-070 (1.95% Cu, 0.93 g/t Au, 86 g/t Ag over 24.7 metres including 3.44% Cu, 1.17 g/t Au, 128 g/t Ag over 12.1 metres).

Borehole Transient Electromagnetic (TEM) surveys continue to help guide the exploration effort.  The zinc-rich mineralization is of moderate conductance and correlates with the geophysical plate models based on the responses in holes HX-067 and HX-055 (green plate 67 and blue plate 55-2).  The copper-rich basal mineralization correlates with the high conductance geophysical plate 55-1 derived from the modeling of the response in hole HX-055.  The modeling also suggests that mineralization is likely to continue down dip and down plunge.

Quality Assurance                                                                                

A Quality Assurance/Quality Control program was part of the assaying program at Bisha.  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. All samples were prepared and analyzed at Bisha’s on-site laboratory independently operated by SGS.

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 Bisha 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

Table of Harena previously unreported intersections 

HOLE
ID

From
(m)

To
 (m)

Length
(m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

Harena Main

HX-060

No Significant Values

HX-062

321.40

336.00

14.60

0.65

0.09

6.14

82

includes

327.50

333.50

6.00

1.04

0.07

10.79

129

HX-064

395.80

448.00

52.20

0.91

1.42

1.34

54

includes

395.80

428.40

32.60

1.00

2.17

0.48

53

and

428.40

448.00

19.60

0.75

0.18

2.78

55

HX-065

No Significant Values

HX-066

563.00

605.00

42.00

1.11

0.93

1.46

55

includes

563.00

583.00

20.00

0.70

0.48

1.24

46

and

589.00

598.00

9.00

2.84

1.24

0.92

59

and

599.50

605.00

5.50

0.67

0.33

4.79

141

HX-067

No Significant Values

HX-068A

447.00

485.00

38.00

0.86

7.30

0.35

13

includes

447.00

478.50

31.50

0.31

8.62

0.13

4

and

478.50

485.00

6.50

3.53

0.93

1.42

56

HX-068A

488.00

491.00

3.00

0.12

0.02

2.60

46

HX-069

583.30

700.00

115.20

0.79

4.95

0.45

14

includes

583.30

622.90

39.60

0.60

10.21

0.58

19

and

642.50

652.30

9.80

0.33

9.02

0.10

5

and

675.00

700.00

24.20

2.31

0.70

1.02

29

HX-070

706.30

731.00

24.70

1.95

1.25

0.93

86

includes

706.30

708.60

2.30

0.60

0.75

3.07

190

and

718.90

731.00

12.10

3.44

0.44

1.17

128

HX-071

519.00

568.70

49.70

0.66

7.94

0.32

17

includes

520.10

556.00

35.90

0.33

10.20

0.23

13

and

556.00

568.70

12.70

1.61

2.10

0.46

28

Harena North

HX-061

No Significant Values

HX-063

No Significant Values

Note: Drill intercepts are estimated to be 70% of the true width

Figure 1. Harena Drillhole Location Map
Harena Map
Figure 2. Harena Long Section
Harena Long Section
Figure 3. Harena Section L6150
Harena Figure 3

Figure 4. Harena Section L6250
Figure 4. Harena Section L6250

Figure 5. Harena Section L6350
Harena Figure 5

Figure 6. Harena Section L6400
Harena Figure 6

Drill Collar Locations

HOLE
ID

UTM
Easting

UTM
Northing

Elevation

Depth
 (m)

Azimuth

Dip

HX-060

333941

1707349

604

716

122

-71

HX-061

335832

1708954

596

405

125

-60

HX-062

334373

1707660

602

422

125

-62

HX-063

335517

1708628

596

419

125

-60

HX-064

334401

1707762

602

553

125

-69

HX-065

334009

1707427

605

538

123

-63

HX-066

334300

1707771

601

668

122

-70

HX-067

333942

1707473

603

737

123

-65

HX-068A

334271

1707611

603

564

125

-71

HX-069

334081

1707621

602

751

125

-67

HX-070

334139

1707824

601

834

125

-67

HX-071

334088

1707551

603

720

125

-68

Note: Collar coordinates are in UTM WGS84 Zone37N