Barsele Minerals: Expansion Drilling at Barsele Project Extends Central Zone Mineralization Towards Avan Zone
TSX VENTURE: BME
Barsele Minerals Corp. (TSX.V: BME) ("Barsele") is pleased to report a seventh operational progress update for the current exploration program within the Barsele Au-VMS Project area in Västerbottens Län, northern Sweden. The exploration program is being operated by joint venture partner Agnico Eagle Mines Ltd. (TSX: AEM) ("Agnico Eagle"). Ownership in the project is 55% Agnico Eagle and 45% Barsele.
During the month of October, diamond drilling with four machines was focused within and along the trend between the Central and Avan zones, where both extension and validation drilling has taken place. Highlight hole CNT16011 yielded 23.00 meters core length (estimated 11.50 meters true thickness) grading 7.90 g/t gold uncut (5.36 g/t gold cut) at a depth of 275 meters below surface. In addition, expansion hole AVA16011 returned several gold bearing zones, with the best intercept being 18.00 meters core length (estimated 13.5 meters true thickness) grading 2.35 g/t gold. This intercept at 370 meters depth, is located 125 meters east of previously drilled AVA16005, which yielded 26.00 meters core length (estimated 19.50 meters true thickness) grading 2.22 g/t gold.
Fourteen holes were completed during the month of October of which 6 were validation holes, 5 were expansion holes and 3 were continuity verification holes. Six thousand meters of core was produced during October, toward a cumulative 2016 total of 25,497 meters in 67 holes. During October there were 6,525 samples sent for analysis, with 2,452 results received.
Basal till drilling is completed for 2016. There were 135 holes totaling 1,366 meters drilled with 1,040 samples collected. From each hole, two samples representing till base and top of bedrock have been sent to the laboratory for analysis.
|Highlight Results from the October 2016 Reporting Period|
|Hole||Category||From (m)||To (m)||Core
|Au (g/t)||Top-Cappedat 20 g/tAu (g/t)|
Barsele's President, Gary Cope says, "We continue to observe positive progress as a result of the work by Agnico Eagle at Barsele. The 345-meter projected west-northwest extension of the Central Zone in Hole CNT16011 is highly significant result that is very positive for the future of the project."
Drilling will take place until December 21, 2016, at which time there will be a break until the New Year. For the remainder of 2016 it is planned that one machine will move from Avan and join the three machines deployed at Skiråsen.
As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the project on a regular basis. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing. It is planned that Agnico Eagle will release a new resource estimate for Avan, Central, Skiråsen, and Norra deposits on or around mid-February 2017.
About the Barsele Gold Project
Barsele Project is located on the western end of the Proterozoic "Skellefte Trend", a prolific volcanogenic massive sulphide deposits belt, where it intersects with the "Gold Line" in Northern Sweden. Both polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden, and Storliden.
On September 25th of 2015, mineral resource estimates by Barsele were released for the Barsele Project in four zones, the Central, Avan and Skiråsen Gold Zones and the Norra VMS Zone. The resource estimate for the Central-Avan-Skiråsen Zones states an Indicated Resource of 14.1 million tonnes grading 1.21 g/t gold for 547,000 contained ounces, plus an Inferred Resource of 20.2 million tonnes grading 0.97 g/t gold for 627,000 contained ounces. The polymetallic Norra Zone contains an Indicated Resource of 110,000 tonnes grading 3.13 g/t gold, 30.3 g/t silver, 0.53 % copper and 0.72 % zinc, plus an Inferred Resource of 310,000 tonnes grading 1.62 g/t gold, 12.7 g/t silver, 0.26 % copper and 0.42 % zinc. All zones were estimated at a gold cut-off grade of 0.6 g/t.
Art Freeze, P.Geo. is the Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.
About Barsele Minerals Corp.
Barsele is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Barsele's main property is the Barsele Gold Project in Västerbottens Län, Sweden, a joint venture with Agnico Eagle Mines Limited.
Source: Barsele Minerals