Barksdale Completes Round One of Phase II Drilling at Sunnyside

The most recent news (March 12, 2026) confirms the completion of the first round of Phase II drilling at the Sunnyside property in Arizona. Six holes totaling 6,000 feet were drilled, with five reaching their target depths. Notably, drill chip logging identified copper-bearing minerals (chalcopyrite, covellite, and chalcocite) in all four holes logged so far. Simultaneously, the company upsized and finalized a private placement with strategic investor Crescat Capital LLC, raising approximately $953,780 at $0.1125 per unit to fund ongoing corporate and exploration expenses.

The impact is Routine - Positive. While the visual identification of copper minerals is encouraging, it is expected for this project given historical ASARCO data. The news is "Routine" because it represents incremental progress on a previously announced Phase II program. However, it is "Positive" because: - Technical Execution: Reaching target depths in 5 of 6 holes validates the drilling contractor's capability after previous delays. - Strategic Backing: The continued participation of Crescat Capital at a price ($0.1125) slightly above the previous $0.09 round suggests strong institutional support and a floor for the stock price. - Earn-in Progress: This drilling is a mandatory component to increase ownership from 51% to 67.5%, a key value inflection point.

Barksdale is focused on the Sunnyside Project in the Patagonia Mountains, Arizona. It sits adjacent to South32’s world-class Hermosa-Taylor deposit. Sunnyside is considered the potential source porphyry for the mineralization found on the neighbor's property. The company also holds the San Javier copper-gold project in Mexico.