December 2, 2015
TSX Venture Exchange
Trading Symbol: BHK.V
Vancouver, December 2, 2015 - BHK Mining Corp. (TSXV: BHK.V) (“BHK” or “the Company”). Following the completion of the Company’s previously announced non-brokered private placement of common shares for aggregate gross proceeds of $1,750,000 at a price of $0.05 per share, the Company reports that it has now filed its Q3 Management Discussion and Analysis (“MD&A”) and Q3 Financial Statements on SEDAR (www.sedar.com) and the Company’s website (bhkminingcorp.com).
The MD&A for Q3 includes a complete update of the exploration activity undertaken at the Ndjole Licence on the Company’s Gabon manganese and gold project.
As discussed in greater detail in the MD&A, highlights from the 2015 phase one exploration program include:
A total of 884 auger holes have been drilled over the North East (NE), Central East (CE) and South East (SE) manganese target areas and 2380 samples have been analyzed.
In regards to the NE manganese target, near surface manganese mineralization has been confirmed over a strike length of 1,200 meters associated with both primary shale hosted manganese and large scale structures striking in a north-easterly direction. A parallel trend one kilometer to the south east, has also been confirmed.
In regards to the SE manganese target, mineralization has been confirmed over a length of 3km and a width of up to 500m and will be tested with drilling during the 2016 dry season (July through October). The drilling was originally planned for this year, but has been delayed due to the early onset of the rainy season.
The initial core drill program was started on August 14, 2015 and aimed at obtaining accurate grade and width data, as well as representative sample material to determine the nature and economic viability of the manganese mineralization. By November 15, 2015, the Company had completed a total of 11 manganese holes in two lines across the NE manganese auger anomaly. The core holes are on average 50m in depth, on an azimuth of 130 degrees and inclined at -60 degrees. The drill core from these holes has been cut and mineralized sections are being sent for laboratory analysis. Assay results are awaited.
The holes drilled and logged to date indicate that three types of manganese are present:
Wide zones of primary shale hosted manganese were intersected in holes NDDD0035 and NDDD0040 during the current program and within holes NDDD0018 and NDDD0028 in the 2011 drill program. Representative samples will be submitted for mineralogical and metallurgical testing to determine the mineral species and the potential for economic exploitation.
A reconnaissance soil sampling program was initiated during August 2015 to identify further zones of manganese mineralization within prospective lithologies located from mapped geology and interpreted from electromagnetic images. In particular, the priority targets are large shallow dipping manganese horizons (primary shale hosted), which can be mined in bulk with minimum stripping. A number of grids were laid out to cover zones of graphitic schist similar to the horizons at the NE manganese target. The soil samples are currently being dried and analyzed with a Niton portable Xray Florescence machine.
In the second quarter of 2015, the company reported on positive gold results from a 33-hole auger drilling program to test for gold mineralization near surface on the Ndjole property. On November 15, 2015, a three-hole core drill program was started to follow-up on these auger results, which highlighted the surface expression and strike of the high grade mineralization previously intersected in core hole NDDD0017 (4.85 metres @ 13.6g/t gold), drilled in 2011 (See BHK’s NI 43-101 Technical Report in respect of the Ndjole License, dated May 18, 2014).
The three-hole gold drilling program noted above is currently underway. Once the gold program has been completed, the core rig will move back to the manganese program at the NE target, specifically primary shale hosted mineralization near 2011 holes NDDD0018 and NDDD0028. Mineralized zones within the core will be cut, sampled and submitted for laboratory analysis.
Representative samples of the primary shale hosted manganese oxide will be submitted for mineralogical and metallurgical analysis to determine mineral species and potential as manganese dioxide ore for the battery industry.
Soil sampling will continue until the Ndjole North grid has been completed, expected to occur by the end of November. Further soil sampling will be undertaken once the 2016 dry season arrives.
All soil samples will be dried and prepared before being analyzed with the Niton portable XRF, which provides accurate manganese assays.
BHK is a TSXV-listed junior exploration company with operations primarily in Gabon at the Ndjole Licence, where a new discovery of high-grade, near-surface manganese mineralization has recently been made. In addition to the manganese mineralization, BHK has implemented a drill program to follow up high-grade gold zones previously discovered at the Ndjole License by the former owner of the property. BHK’s operations at the Ndjole Licence open the door to further opportunities in this Central African country, which is among the top four manganese producers in the world (Manganese Investing News, June 8, 2015).
BHK’s NI 43-101 Technical Report in respect of the Ndjole License is dated May 18, 2014 and was prepared by Derrick Strickland, P. Geo. This technical report is available online on SEDAR at www.sedar.com.
All technical information in this press release has been reviewed, approved and prepared by or under the supervision of David Underwood, Vice President Exploration who is the Company’s “Qualified Person” under the definitions set forth in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors:
Director & Chief Executive Officer
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Such forward looking information may include, among other things, statements regarding the potential exploration and development of the Ndjole Licence, the future plans and objectives for the Ndjole Licence, future opportunities in Gabon, the negotiation and completion of transactions and the future operating results and economic performance of the Company. Such forward-looking information and statements are based on a number of assumptions, including that the exploration and development activities at the Ndjole Licence will continue as planned and that the Company will be able to continue raising the necessary capital to finance its operations. Although we consider these assumptions to be reasonable at the time of preparation, they may prove to be incorrect. Readers are cautioned that the actual future exploration results, operating results and economic performance of the Company are subject to a number of risks and uncertainties. These risks include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling and exploration results and other geological data, the potential for unsuccessful exploration results, changes in project parameters as plans continue to be refined, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, defects in title at the Ndjole Licence, the availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, political instability, regulatory changes, delays in receiving government approvals, changes in general economic, market or business conditions and delays resulting from environmental and other risks as may be described herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. For more exhaustive information on these risks and uncertainties you should refer to our annual filings which are available on www.sedar.com.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.