en.Wedoany.com Reported - Mineral exploration company Barksdale Resources Corp. has completed the acquisition of 100% ownership of the San Javier copper project in Sonora, Mexico. Located 140 kilometers east of Hermosillo, the acquisition became effective following the payment of all outstanding amounts under the agreement and the issuance of shares to Tusk Exploration Ltd.

Upon completion of the acquisition, the company has consolidated a total of 12 strategic mineral concessions in the area, notably including Cerro Verde, San Carlos, Cobre Nuevo, and Las Tunas. The San Javier claim area hosts an iron oxide-copper-gold (IOCG) type deposit, and the site is directly accessible via Federal Highway 16.

A Preliminary Economic Assessment (PEA) prepared in January 2024 by Tetra Tech Canada, Inc. reported that the deposit contains combined measured and indicated resources of 419.2 million pounds of copper, of which 289.4 million pounds are recoverable through heap leaching; however, the assessment did not assign an economic value to the gold content within the deposit.

To address this gap and reassess the asset's value, Barksdale initiated a re-assay program, re-testing 178 historical samples obtained from drilling conducted in 2007. Sample analysis was completed by the certified ALS Global laboratory in Vancouver under strict quality control protocols, and the results confirmed gold mineralization at both surface and depth, with the highest measured gold grade reaching 3.464 grams per tonne.

Preliminary modeling using Leapfrog software indicates that, upon incorporating the new data, the deposit volume has increased by 28% compared to previous estimates.

Based on these results, Barksdale has engaged Antonio Loschiavo, Principal of AKF Mining Services, to evaluate the impact of incorporating gold resources on the project's overall economic viability. The company anticipates that, with updated commodity prices and mineral resource estimates, it may revise the PEA or initiate a pre-feasibility study.