Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) (“Barksdale” or the “Company”) is pleased to announce that it has commenced an update (the “PEA Update”) to the Preliminary Economic Assessment for its 100%-owned San Javier copper-gold project in Sonora, Mexico (“San Javier” or the “Project”). The current Preliminary Economic Assessment, with an effective date of January 2, 2024 (the “2024 PEA”), assumed a copper-only heap leach operation at US$4.00/lb copper.
Beyond the Headline
Key developments announced by Barksdale on October 28, 2026:
- Closed the first tranche of a C$14 million financing, raising C$13.18 million through 73.22 million units at C$0.18. Insiders purchased an aggregate of 13.16 million units.
- Each unit includes half a warrant, with whole warrants exercisable at C$0.30 for two years.
- Eliminated significant outstanding debt through a 40 million share and 5.2 million unit settlement.
- Plans a phased 16,000 m diamond drilling program, initially 8,000 m, targeting an initial mineral resource at its 67.5%-owned Sunnyside porphyry deposit in Arizona.
- The planned program will also test the area to the west around the historic Sunnyside, Volcano and Thunder Mines.
- A ZTEM survey will be completed on Sunnyside and its Four Metals property.
Previous drilling at Sunnyside by Barksdale has established a substantial copper-bearing porphyry system extending to more than 1,000m depth. Reported intersections include two intervals of 61 m @ 0.93% Cu and 0.90% Cu, respectively, and 65.5 m @ 0.47% Cu, including 7.6 m @ 1.93% Cu. These results suggest the presence of potentially economic copper grades. The planned drilling program will focus on confirming the geometry, continuity, tonnage and overall grade distribution to establish a maiden MRE.
Comments
This is an important financing and operational development announcement. as Barksdale now has substantially improved funding to carry out sufficient drilling to move from discovery-stage drilling toward resource definition. This program will determine whether the better-grade copper intervals connect into a sufficiently large, continuous mineralized envelope to support a substantial resource. The ZTEM survey will help outline additional targets on the porphyry system on Sunnyside
Completion of this financing and the debt settlement will bring the shares outstanding to approximately 353.3 million. Crescat has an option to participate. The Company previously announced (Barksdale press release September 22, 2026) that it intends to change its name to “Arizona Standard Copper Inc.” and do a 10:1 share consolidation.