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September 16, 2015

 

Bisha Mining Further Expands Harena Mineralization



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

HIGHLIGHTS

  • New drilling expands Harena by 250 m to the south and 100 m at depth
  • New massive sulphide intersections at Harena include:
    • HX-058: 1.31% Cu, 2.84% Zn, 0.35 g/t Au, 27 g/t Ag over 70.2m
      including 3.58% Cu, 1.95% Zn, 0.69 g/t Au, 49 g/t Ag over 11.7m
    • HX-054B: 1.13% Cu, 2.48% Zn, 0.33 g/t Au, 24 g/t Ag over 67.0 m
      including 2.66% Cu, 1.60% Zn, 0.69 g/t Au, 54 g/t Ag over 10.7 m
    • HX-052: 1.01% Cu, 4.33% Zn,  0.96 g/t Au, 32 g/t Ag over  57.3 m
      including 3.44% Cu, 0.21% Zn, 7.49 g/t Au, 184 g/t Ag over 5.4 m
    • HX-053: 0.83% Cu, 4.08% Zn, 0.77 g/t Au, 30 g/t Ag over 28.8 m
      Including 0.37% Cu, 9.56% Zn, 0.16 g/t Au, 13 g/t Ag over 11.0 m
      and 2.11% Cu, 1.23% Zn, 0.79 g/t Au, 41 g/t Ag over 8.4 m
  • Harena still open with geophysical modeling suggesting further expansion potential possible
  • At Bisha, drilling at the southern end of the deposit demonstrates massive sulphides continue below the known

BMSC Chairman Cliff Davis commented, “Our exploration programs at Bisha continue to produce excellent results.  Drilling at Harena in particular, has been very encouraging.  A mine plan optimization study for the Bisha operation is currently underway and the results from this new drilling will be included in this evaluation.  We also look forward to returning later in the year to Aderat and Asheli on the Mogoraib Exploration License to further evaluate these recent discoveries.”

Harena

Drilling at Harena, located 10 kilometres south of the Bisha processing plant, continues to expand the deposit along strike and at depth.

Holes HX-052, HX-054B and HX-058 further evaluated the Lower Zone high conductance borehole geophysical plate model associated with previously reported hole HX-050 (1.66% Cu, 6.62% Zn, 0.41 g/t Au, 28 g/t Ag over 67.2 metres).  These holes demonstrate that the Lower Zone massive sulphide body remains thick down dip and down plunge and retains its classic high copper footwall zonation.  It is still open to depth.

Holes HX-048, HX-049, HX-053 and HX-059 targeted the Upper Zone moderate conductance borehole geophysical plate model and continued to expand this zone down plunge to the south with the zone appearing to thicken.  Hole HX-059 intersected a 33.0 metre wide zone grading 0.57% Cu, 4.30% Zn, 0.88 g/t Au, 61 g/t Ag.  The zone remains open to the south and at depth with the geophysical modeling suggesting that mineralization likely continues for a significant distance in that direction.

Hole HX-057 was drilled into a gap between the geophysical plate models for the Upper Zone and Lower Zone.  This hole intersected 14.4 metres of massive sulphide grading 0.33% Cu, 7.32% Zn, 0.20 g/t Au, 9 g/t Ag.  The mineralization appears to be at a deeper level in the felsic volcanic host rock and is possibly a new separate zone.  Borehole geophysical modeling suggests the mineralization intersected in HX-057 is located near the center of a relatively large conductive zone.

Bisha

Part of the 2015 Regional Exploration program is exploration around the perimeter of the Bisha Main deposit both at depth and along strike.

Geophysical modeling of historic borehole responses from the Bisha deposit indicate that the southern half of the Bisha deposit likely continues down plunge below the known deposit for at least 200 metres.  Four holes were drilled to test this concept, with the drilling being limited by mining activities in the pit.  Three of the four holes intersected massive sulphides ranging from 10 metres to 25 metres in thickness.  The massive sulphides are zoned with an upper base metal rich horizon and a lower low grade section.  The best result was obtained in BX-010: 1.01% Cu, 3.21% Zn 0.61 g/t Au, 29 g/t Ag over 8.5 metres approximately 200 metres below the known deposit.  The limited drilling has confirmed that Bisha continues to depth over an approximately 400 metre wide zone.  Further drilling is required to determine the full extent and nature of this mineralization.

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

Note: Collar coordinates are in UTM WGS84 Zone37N

Note: Holes HX-056 and HX-056A did not reach target depth due to technical difficulties 
 

Table of Harena and Bisha Intersections

HOLE

ID

From

(m)

To

(m)

Length

(m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

Harena Main – Lower Zone

HX-052

596.40

653.70

57.30

1.01

4.33

0.96

31.5

HX-054B

691.70

758.70

67.00

1.13

2.48

0.33

23.5

includes

714.00

727.50

13.50

1.98

0.60

0.51

38.2

and

748.00

758.70

10.70

2.66

1.60

0.69

54.4

HX-055

630.80

645.50

14.70

0.33

1.65

0.11

3.9

HX-058

640.00

710.20

70.20

1.31

2.84

0.35

26.8

includes

640.00

651.00

11.00

1.76

1.17

0.56

46.7

and

698.50

710.20

11.70

3.58

1.95

0.69

49.1

Harena Main – Upper  Zone

HX-048

369.10

390.00

20.90

0.97

1.87

0.85

38.4

includes

372.30

378.00

5.70

0.65

6.17

1.81

63.9

and

380.70

384.90

4.20

2.55

0.27

0.64

57.8

HX-049

424.00

434.00

10.00

0.40

5.27

1.04

23.7

HX-053

510.00

538.80

28.80

0.83

4.08

0.77

30.4

includes

510.00

521.00

11.00

0.37

9.56

0.16

12.9

and

524.90

533.30

8.40

2.11

1.23

0.79

40.5

HX-057

644.00

658.40

14.40

0.33

7.32

0.20

8.9

includes

644.70

653.50

8.80

0.12

9.66

0.11

3.2

HX-059

529.30

562.30

33.00

0.57

4.30

0.88

60.8

Harena Main – Gold Zone

HX-052

648.30

653.70

5.40

3.44

0.21

7.49

183.6

HX-053

534.30

538.80

4.50

0.54

0.21

3.24

96.3

 

HOLE

ID

From

(m)

To

(m)

Length

(m)

Cu (%)

Zn (%)

Au (g/t)

Ag (g/t)

Bisha Main

BX-010

485.50

511.00

25.50

0.60

1.62

0.43

14.9

Includes

485.50

494.00

8.50

1.01

3.21

0.61

28.8

and

501.50

507.50

6.00

0.63

2.04

0.44

11.8

BX-011

No Significant Values 

 

 

 

 

 

BX-012

437.00

441.30

4.30

2.35

3.90

0.91

68.9

and

441.30

458.00

16.70

0.03

0.11

0.10

2.5

BX-013

621.00

630.80

9.80

0.70

4.34

0.44

29.3

Note: Holes HX-056 and HX-056A did not reach target depth due to technical difficulties

Figure 1. Harena Drillhole Location Map
Harena Drillhole Location Map

Figure 2. Harena Long Section
Harena Long Section

Figure 3. Harena Section 6250
Harena Section 6250

Figure 4. Harena Section 6350
Harena Section 6350

Figure 5. Harena Section 6450
Harena Section 6450

Figure 6. Bisha Long Section
Bisha Long Section
Drill Collar Locations

HOLE
ID

UTM
Easting

UTM
Northing

Elevation

Depth
 (m)

Dip

Azimuth

Harena Drill Collar Locations

HX-048

334301

1707587

603

551

-70

125

HX-049

334179

1707550

603

536

-63

125

HX-050

334236

1707634

602

692

-72

125

HX-051

334248

1707691

602

663

-70

125

HX-052

334189

1707789

601

752

-66

125

HX-053

334121

1707590

603

629

-66

123

HX-054

334040

1707648

600

151

-68

123

HX-054A

334040

1707648

600

341

-74

123

HX-054B

334039

1707649

602

848

-70

123

HX-055

334242

1707871

600

740

-68

122

HX-056

334140

1707703

602

465

-73

122

HX-056A

334140

1707702

600

171

-73

122

HX-057

334028

1707538

603

708

-68

122

HX-058

334140

1707702

600

804

-69

122

HX-059

334029

1707537

600

651

-63

122

Bisha Drill Collar Locations

BX-010

339075

1715200

565

636

-55

090

BX-011

339017

1715549

550

686

-58

086

BX-012

339077

1715200

565

602

-45

086

BX-013

338960

1715350

564

896

-57

085

Note: Collar coordinates are in UTM WGS84 Zone37N

Note: Holes HX-056 and HX-056A did not reach target depth due to technical difficulties