Vancouver, British Columbia--(Newsfile Corp. - July 12, 2022) - BAROYECA GOLD & SILVER INC. (TSXV: BGS) (the "Company") is pleased to announce it has resumed bulk-sampling at the Santa Barbara Gold Project in Bolivar, Colombia. A first batch of 10,304 kg of mineralized material has been processed through the pilot processing plant, which has recently been upgraded, with a gold dore bar poured on-site as part of preliminary metallurgical and plant efficiency tests.
Assay results from the head-grade samples returned 18.20 g/t Au, with 130.4 grams of gold at 99.8% purity recovered on-site from the process (recoveries of 69.53%).
Photo 1. Gold dore pour from first batch of new bulk sample at the Santa Barbara project
To view an enhanced version of Photo 1, please visit: https://images.newsfilecorp.com/files/7881/130605_4f830380b4a598c1_001full.jpg
Raul Sanabria, P.Geo., President of Baroyeca commented: "We stick to our plan of generating non-dilutive cash flow while we conduct meaningful exploration at Santa Barbara, and this is an excellent example of that. We took the approach of drifting along the veins to undertake vein characterization and sampling work at small spacing intervals to better understand gold grade distribution and so far, we haven't gone wrong. Now we are focused on accessing and developing the vein at the Mariana mine where historical artisanal mine works and assay results continue to show high-gold grades, which we believe is an indicator of what we can expect at depth and in other parallel veins in the project. Bulk sampling has now started from all the currently exposed veins recently accessed by our underground development preparation works. The vein material obtained from these samples will also be processed at the Santa Barbara processing plant and included in further shoot delineation works towards the first resource estimate. While we do this, the Company intends to recover the gold to generate enough non-dilutive cash flow from the bulk sampling process to defray most of the overhead costs of the project while continuing advancing underground exploration."
The Company has been clearing the access and a collapsed section of the Mariana Mine to access the fresh vein at Level 2 by a horizontal drift located 40 meters to the northeast of the former access shaft.
The Santa Barbara exploratory tunnel was extended for an additional 25 meters following Vein #1 after the completion of the milestone 500-ton bulk sample released in 2021. Channel sampling started at 2-meter intervals from the crosscut that accessed Vein #2 and samples from this section are now at SGS Labs in Medellin for assay.
Bulk sample collection is designed and supervised by a Qualified Person for QA/QC purposes. Baroyeca used the same bulk sampling process methodology used before but increased the batch sample from 10 to 15 tons after completing some improvements and upgrades at the pilot processing plant.
The mining method employed at the exploratory tunnels consisted of splitting the vein from the barren wall rock and separating and collecting vein material with a minimum of wall rock attached. The vein material from the tunnel was then bagged at the tunnel portal in woven plastic bags and individually weighed until an approximate nominal 10-to-15-ton batch sized sample was completed. Samples were then loaded in random order into a truck and taken to the Santa Barbara pilot gold processing plant. Once the batch was completed, the section of tunnel from where the sample was removed was surveyed and followed with channel sampling at 1-meter intervals.
At the plant site, sample bags were dumped in random order after passing through a first stage of crushing to 2-inch and a second stage of crushing to 0.5 inch size. Crushed material was then stored in a bin with a vibrating door that self-feeds the primary ball mill. Crushed material was then sent to the primary ball mill (>40% passing 150 mesh) and secondary ball mill (>60% passing 200 mesh) connecting with the three 15m3 cyanide leaching talks where the pulp was agitated before adding reagents for homogenization purposes.
The pilot plant does not have a gravity separation stage or flotation system therefore there was no loss of material in the process and the sample pulp reaching the cyanide leaching tanks was considered the entire sample, with the sample being homogenized. A >1 kg head grade sample was then collected from the tank before the cyanide leaching process started and sent to SGS labs in Medellin for Au-Ag fire assay.
2022 Santa Barbara Exploration Program update
Baroyeca has completed an additional 25m in its crosscut tunnel perpendicular to the main exploratory one following the Santa Barbara vein #2, getting closer to Vein #3 inferred from surface mapping.
Baroyeca's Mining Engineering Team is currently working on underground tunnel upgrades at the Mariana mine to speed up access to the fresh (unaltered) part of the vein below the saprock boundary and will continue with the bulk sampling / channel sampling in this area of the project immediately west of the Pilot Processing Plant.
Photo 2. Securing access to level 2 following the gold bearing vein (oxidized at the saprock level) at the Mariana mine to continue with bulk sampling in this area.
To view an enhanced version of Photo 2, please visit: https://images.newsfilecorp.com/files/7881/130605_4f830380b4a598c1_002full.jpg
Fig. 1. Location Map of the Santa Barbara project.
To view an enhanced version of Fig 1, please visit: https://images.newsfilecorp.com/files/7881/130605_4f830380b4a598c1_003full.jpg
Rock samples are shipped by transport truck in sealed woven plastic bags to SGS sample preparation facility in Medellin, Colombia for sample preparation and analysis. SGS operate according to the guidelines set out in ISO/IEC Guide 25. Gold is determined by fire-assay fusion of a 50 g sub-sample with atomic absorption spectroscopy (AAS). Samples that return values >10 ppm gold from fire assay and AAS are determined by using fire assay and a gravimetric finish. Silver is analyzed by inductively-coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. Silver is determined by ore grade assay for samples that return >500 ppm.
About Baroyeca Gold & Silver Inc.
Baroyeca Gold & Silver Inc. is a mineral exploration company focused on high-grade silver and gold projects located in Colombia. Baroyeca's flagship asset is the high-grade Atocha Silver-Gold Project located in Tolima Department, Colombia. The Company also holds an option to acquire a 100% interest in the Santa Barbara Property, Bolivar Department, Colombia, which is renowned for its high-grade gold mineralization and vein density. Current exploration activities on the Santa Barbara Property involve the bulk sampling of vein structures, which material then feeds into a trial production facility which has consistently been producing gold for over a year. The revenue from the sale of produced gold defrays part of the operating costs. The Company is planning to expand these activities.
The Company's Board and senior management are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally and socially responsible mineral exploration.
Raul Sanabria, M.Sc., P.Geo., President of Baroyeca Gold & Silver Inc. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
BAROYECA GOLD & SILVER INC.
Per: "Raul Sanabria" Raul Sanabria, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130605
Cantex Mine Development Corp. (TSXV: CD) (the "Company") is pleased to provide an update on drilling of the Main Zone at its 100-percent-owned 14,077 hectare North Rackla claim block in the Yukon.
PolyMet Mining Corp., one of the companies pursuing a copper-nickel mine in northern Minnesota, said Wednesday it would form a $170 million joint venture with Teck Resources, a Canadian mining company that has its own designs on the region.
Packaging Corporation of America, Sealed Air, Graphic Packaging, Sonoco and Greif have been highlighted in this Industry Outlook article.
Strong demand for consumer-oriented products and the e-commerce boom will benefit the likes of PKG, SEE, GPK, SON and GEF in the Zacks Containers-Paper and Packaging industry despite inflationary pressures and supply chain woes.
Oil futures fall sharply on Thursday, with U.S. prices logging their lowest finish in a week as a counter-seasonal rise in U.S. gasoline inventories highlighted worries about energy demand.
Autoliv Inc (NYSE: ALV) reported second-quarter FY22 sales growth of 2.9% year-on-year, to $2.08 billion, beating the consensus of $2.05 billion. Operating income declined 25% to $124 million, and the operating margin contracted 210 basis points to 6.0%. Stronger than expected performance in June driven by price increases, LVP recovery, and a patent litigation settlement led to a better-than-expected operating profit for the quarter. However, profitability declined due to higher raw material cos
The move, which brings the deposit rate to 0% from -0.5%, comes as the continent copes with an energy crisis.
The European Central Bank has taken steps to push interest rates higher while avoiding the eurozone’s fragmentation, but how it will use these tools is anyone’s guess.
The European Central Bank announced a half-percent rate increase and a new flexible bond-buying program. The seemingly contradictory announcements "make no sense," says one strategist.
All the major equity indexes closed Wednesday near their highs of the day as several violated their respective resistance levels, leaving all the indexes in bullish near-term trends. What's more, the "ascending triangle" patterns saw positive resolutions. Meanwhile, the data shows the leveraged ETF traders have been covering their shorts but remain leveraged short while the McClellan 1-day OB/OS oscillators are overbought.
Eoin Tonge of M&S will succeed John Bason, who will chair a new advisory board after more than 20 years as finance director.
The 2022 meltdown is not the first time that the risks of “Centralized DeFi” products have been laid bare.
Keybanc analyst Jeffrey D. Hammond lowered the price target on Generac Holdings Inc. (NYSE: GNRC) to $325 (an upside of 30%) from $350 while maintaining the Overweight rating on the shares. The analyst says that the dealers communicated a mixed picture as the outlook became unclear. Through conversations with proprietary channel networks, HSB dealers continue to work through long backlogs as supply chains maintain sequential improvement. Hammond mentions while lengthy order files and pricing act
(Bloomberg) -- Foreign funds are showing signs of a return to Asian emerging-market stocks as recent declines in oil prices and the dollar bring some relief.Most Read from BloombergTrump Insiders Recall How He Spurned Pleas to Act as Riot RagedThree Arrows Founders Break Silence Over Collapse of Crypto Hedge FundAmericans Who Can’t Afford Homes Are Moving to Europe InsteadMusk Lieutenant Scrutinized in Internal Tesla Purchasing ProbeWorld’s Frothiest Housing Market Cools in Global Warning Signal
(Bloomberg) -- US mortgage rates inched higher, increasing the pressure on the housing market and adding to the affordability crisis.Most Read from BloombergAmericans Who Can’t Afford Homes Are Moving to Europe InsteadThese Are the World’s Most (and Least) Powerful Passports in 2022Biden Contracts Covid as Pandemic Shows Its Staying PowerECB Rushes to Tighten as Half-Point Hike Matched by Crisis ToolMusk Lieutenant Scrutinized in Internal Tesla Purchasing ProbeThe average for a 30-year loan rose
Memory-tech peers of Seagate are tumbling after the company blames weak earnings on a rough economic environment.
(Reuters) -Parents continued to buy Mattel Inc's action figures and Hot Wheels cars for their kids even though the toys got pricier, helping the company trump quarterly results estimates on Thursday. Rival Hasbro Inc had also notched a robust second quarter, as demand for toys has so far withstood the decades-high inflation that has forced Americans to save their dollars for essentials like food and gas. But surging costs of raw materials, freight and labor are starting to catch up to Mattel, pulling its adjusted margins to 45% from last year's 47.5%.
A year ago, Barron’s noted that Academy Sports and Outdoors had achieved something of a financial hat trick. Its digital sales were soaring, its debt was falling, and its plan to add more bricks-and-mortar outlets was on track. At a recent $43.57, Academy Sports (ticker: ASO) has gained 18.4% since we recommended the stock last July; since then, the index has fallen some 8%.
Tenet Healthcare Corp's (NYSE: THC) Q2 FY22 adjusted EPS came in at $1.50, down from $1.59 a year ago and beating the management guidance of $1.18-$1.45 and the consensus of $1.05. Net operating revenue reached $4.64 billion, down 6.4% Y/Y, missing the consensus of $4.82 billion and the management guidance of $4.8 billion - $5.0 billion. Hospital segment sales declined 11% to $3.65 billion primarily due to the sale of Miami-area hospitals and the unfavorable impact of the cybersecurity incident.
Bitcoin (BTC) is on track for its best weekly performance since March after climbing above $23,000, its highest level since mid June. The "All About Bitcoin" Week in Review panel discusses the week's biggest events that potentially impacted the price of bitcoin and the wider crypto markets. Plus, Fedi Inc. building a privacy-focused bitcoin mobile app on the Fedimint protocol.