Barsele Minerals and JV Partner Agnico Eagle Mines Intersect 25 Meters Grading 5.34 g/t Gold at Barsele Au-VMS Project
TSX VENTURE: BME
VANCOUVER, June 21, 2017 /CNW/ - Barsele Minerals Corp. - (TSX-V: BME) ("Barsele") is pleased to report a thirteenth operational progress update for the ongoing 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 Limited - (TSX, NYSE: AEM) ("Agnico Eagle"). Ownership in the project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study.
During the month of April, three diamond drilling machines were focused along the Central and Avan zones. Planning toward future testing (commencing May) of selected volcanogenic massive sulphide (VMS) targets, including extension drilling along the Norra Zone was completed, with drill targets selected. A total of 203 out of 500 planned base of till (BOT) holes were completed by month end.
Highlight expansion hole CNT17006 yielded two significant intercepts, including 25.0 meters core length (estimated 16.6 meters true thickness) grading 5.34 g/t gold at a midpoint depth of 265 meters below surface, plus 22.0 meters core length (estimated 14.8 meters true thickness) grading 2.51 g/t gold uncut (1.74 g/t gold cut) at a midpoint depth of 390 meters below surface. Hole AVA17004 yielded a high grade polymetallic intercept of 3.0 meters core length (estimated 2.0 meters true thickness) grading 5.46 g/t gold, 384.0 g/t silver, 1.93% lead and 2.39% zinc at a midpoint depth of 50 meters below surface. This intercept may be reflective of remobilized massive sulphide mineralization.
Six holes were completed during the month of April, comprised of three expansion, two infill and one extension. During the month, 2,950 meters of core was collected and there were 1,880 samples sent for analysis, with 1,901 assay results received. In addition 1,428 samples were collected from the basal till drill program.
Barsele's President, Gary Cope states, "Five drills are now coring at Barsele. Hole CNT17006 reflects a significant zone of high-grade mineralization that hopefully reflects continuity with the 11.5 meters true thickness grading 7.9 g/t gold uncut (5.36 g/t gold cut) that was encountered in hole CNT16011 (Both intercepts occur at roughly 270 meters below surface and lie 100 meters apart). The high-grade polymetallic intercept in hole AVA17004, could reflect leakage from a nearby previously unknown massive sulphide source".
|May 2017 Drilling Update|
|Includes||69.00 to 72.00||384 g/t Ag||167.00||172.40||5.40||3.70||2.07|
|Includes||69.00 to 72.00||1.93% Pb||214.00||220.00||6.00||4.10||1.25|
|Includes||69.00 to 72.00||2.39% Zn|
|Az = Compass Bearing Dip = Degrees Inclination CL = Core Length TL = True Length Top Cut to 20 g/t gold|
This technical information in this release was verified by way of a site visit in May of 2017 by the Qualified Person, where the data was discussed with the site operator, the database was reviewed, and drill core was examined. The quality control/quality assurance program at the Barsele project is described on our website at http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.
All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultra trace level method (ME-MS61)-48 element by using four acid digestion together with ICP-AES and ICP-MS analytical methods. Gold is tested by fire assay, aqua regia digest and analysed with an atomic absorption spectroscopy (AAS) or gravimetric finish depending on grade (Au-AA24 and Au-GRA22). Each method has a lower and upper calibration range for which results are accurately determined.
As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the project area. Basic environmental assessment and surface water characterization and species studies are ongoing.
About the Barsele Gold Project
The Barsele Project is located in northern Sweden, on the western end of the Proterozoic "Skellefte Trend", a prolific volcanogenic massive sulphide deposits belt, where it intersects with the "Gold Line." 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.
The intrusive hosted gold mineralization within the Barsele Property appears to be similar to Agnico Eagle's Goldex deposit in Quebec. Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Central, Avan and Skiråsen zones, that are now interpreted to be part of the same mineralized system that extends approximately 3.0 kilometers in strike length and to a depth of 700 meters and still open in all directions. These contiguous mineralized zones occur within a granodiorite host that ranges in width from 200 to 500 meters and is traceable over a strike length exceeding 8.0 kilometers. Gold is generally associated with arsenopyrite and low base metal content, but also occurs as native metal locally.
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. The company has retained the services of Amec Foster Wheeler to complete an Independent Review of the Barsele Mineral Resource Update that was recently created by Agnico Eagle. An updated NI 43-101 Technical Report will be prepared by Barsele if warranted.