Barksdale Resources Corp. reports exploration and corporate financing developments for its critical, base and precious metals portfolio across the Americas. Company announcements center on the flagship Sunnyside Project in Arizona, including reverse-circulation drilling, assay results, copper-zinc-silver mineralization, historical target areas, geophysical targets, permitting under a U.S. Forest Service plan of operation, and qualified-person review under National Instrument 43-101.
News also covers Barksdale's capital structure and funding activity, including private placements of common share units and warrants, secured convertible debenture amendments, shares-for-debt settlements, warrant extensions, related-party transaction disclosures, and TSX Venture Exchange matters tied to its exploration financing.
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Barksdale Resources Corp. has announced a $1,750,000 non-brokered private placement of secured convertible debentures arranged through Delbrook Capital Advisors. This funding, supported by Delbrook, a long-time shareholder, aims to provide liquidity as the company approaches crucial project milestones in 2022. The debentures will mature on December 31, 2022, bear interest at 10% per annum, and are convertible at a 47% premium to the company's recent trading price. Proceeds will be utilized for general corporate purposes and to enhance liquidity without diluting shareholder value.
Barksdale Resources Corp. (OTCQX: BRKCF) has completed a 5,000-meter Phase I drilling program at the Cerro Verde zone in San Javier, Mexico. All 36 drill holes encountered copper mineralization, confirming the expansion of the oxide copper footprint. Key results included 57m of 0.74% copper from surface and additional significant near-surface intercepts. The company aims to produce an updated geological model and calculate a resource estimate in early 2022, with ongoing metallurgical tests indicating favorable heap-leach processing potential.
Barksdale Resources Corp. has announced promising initial drill results from its 5,000-meter core drilling program at the San Javier copper-gold project in Sonora, Mexico. Key findings include Hole SJ21-04 intersecting 38.5m at 0.38% copper and 0.38 g/t gold, and Hole SJ21-05 intersecting 105m at 0.63% copper and 0.40 g/t gold. The results show strong continuity with historical data, indicating significant copper and gold mineralization. The company expects to release further assay results in the coming weeks and into early 2022.
Barksdale Resources Corp. (OTCQX: BRKCF) announced its secured loans update regarding Regal Resources Inc.. Barksdale issued a Default Notice to Regal after their failure to make payments on loans amounting to approximately $1.8 million as of October 19, 2021. Regal owes about $2.8 million to multiple creditors under the Canadian Bankruptcy and Insolvency Act. If Regal can't propose acceptable repayment terms, it may enter bankruptcy, which could lead to asset liquidation. Despite this, Barksdale's ownership in Arizona Standard LLC and the option agreement remain secure.
Barksdale Resources Corp. (OTCQX: BRKCF) has initiated its first drilling program at the San Javier project in Sonora, Mexico, marking a significant milestone in the company's history. The initial 5,000-meter drill program aims to test mineralization controls and provide metallurgical samples for further development. Led by Tom Simpson, the program is expected to last less than twelve weeks, with results contributing to a new resource estimate. The project is part of Barksdale's strategy to advance various base metal projects in North America.
Barksdale Resources Corp. provided an update on July 30, 2021, regarding a debt assignment agreement with Denman Island Chocolate Ltd. and Regal Resources Inc. The agreement, dated May 11, 2021, involves Barksdale acquiring a $1.725 million secured loan with an 8% interest rate. The company will pay $1 million in cash and issue 1,345,310 shares. Completion of this assignment is pending TSX Venture Exchange review. Barksdale continues to advance its base metal projects in Arizona and Mexico, highlighting a focus on exploration and development.