Barranco Gold rallies on early B.C. exploration results
Barranco Gold Mining Corp. [BAR-CSE] said has identified multiple gold-in-soil anomalies during its initial exploration program on the company’s 100%-owned King Property in British Columbia.
Barranco shares rallied on the news, rising 7.7% or 10 cents to $1.40. The shares trade in a 52-week range of $1.40 and 90 cents.
The purpose of the program was to conduct systematic geochemical sampling of soils and rocks, as well as geological mapping across three defined grid areas. The company said 726 soil samples were collected along a GPS-controlled grid network totaling 17.3 kilometres of survey lines. The company said 31 rock samples (grab and chip samples) and three petrographic samples were collected for laboratory analysis. Multiple gold-in-soil anomalies were identified, with peak values of up to 860 ppb gold in the Central Grid.
Rock samples confirmed significant gold and pathfinder element concentrations:
One sample returned 1.83 g/t gold, 97 ppm copper and 131 ppm zinc. A 70-centimetre chip sample returned 1.39 g/t gold, and 118 ppm copper.
The company is currently reviewing the results to define further exploration targets. Planned next steps include expansion of soil grid coverage, selection of trenching and preliminary drill sites. Other planned steps include implementation of Induced Polarization (IP) geophysics and detailed mapping of structural features and alteration zones.
Barranco Gold was initially listed for trading on the Canadian Securities Exchange on February 6, 2025.
Barranco is a gold-focused exploration company advancing the King Gold Project in Canada’s newest gold district, the Spences Bridge Gold Belt [SBGB]. The company controls 3,200 hectares within seven fully owned claims strategically located within this belt. Barranco’s claims cover prospective stratigraphy in the southern SBGB, a 110-kilometre northwest trending belt of intermediate to felsic volcanic rocks dominated by Cretaceous Spences Bridge Group. The company believes these relatively underexplored volcanic rocks are highly prospective for epithermal style gold mineralization. “Our focus remains on advancing our projects, creating long-term value for our shareholders and contributing responsibly to the mining industry,” said Barranco CEO Reno J. Calabrigo
The King Property is underlain by granodiorite intrusions of the Osprey and Pennask batholiths, crosscut by Tertiary intrusions of the Otter Intrusion (quartz-feldspar porphyry), The geochemical signatures and mapped structural trends are consistent with known porphyry and epithermal gold-copper systems in the region. Comparable deposits such as Copper Mountain, Brenda Mine, and Gold Mountain mine are located within 50 to 100 kilometres from the project.
The project is accessible year-round via Highway 97C (Okanagan Connector) and a well developed network of forestry roads. The topography is moderate and infrastructure conditions are considered excellent. The claim block is located entirely on Crown Land and is not currently subject to any known First Nation claims..