Mr. Gary Cope reports
BARSELE DRILL HOLE CNT17012 YIELDS 19.75 METERS GRADING 5.07 G/T GOLD AND INDICATES CONTINUITY ALONG THE 100-METER GAP BETWEEN THE CENTRAL AND SKIRASEN ZONES.
Barsele Minerals Corp. has released a 14th operational progress update for the continuing exploration program within the Barsele gold-volcanogenic-massive-sulphide project area in Vasterbottens Lan, northern Sweden. The exploration program is being operated by joint venture partner Agnico Eagle Mines Ltd. Ownership in the project is 55 per cent Agnico Eagle and 45 per cent Barsele. Agnico Eagle can earn an additional 15 per cent in the Barsele project through the completion of a prefeasibility study.
During the months of May through August, between two and five diamond drilling machines were focused along the Central and Avan zones, as well as regional drilling of gold targets and selected volcanogenic massive sulphide (VMS) targets. Base of till (BOT) testing is continuing.
Recent drill results through the end of July include highlight infill hole CNT17012 that yielded a 19.75-metre core length (estimated 14.5 m true thickness) grading 5.07 grams per tonne gold uncut (3.49 g/t gold cut) at a midpoint depth of 265 m below surface. Expansion hole AVA17010 yielded 7.0 m core length (estimated 3.7 m true thickness) grading 9.70 g/t gold uncut (9.47 g/t gold cut) at a midpoint depth of 320 m below surface. This hole indicates that the system is still open to the northwest. Infill hole CNT17011 yielded two significant intercepts, including 9.0 m core length (estimated 6.7 m true thickness) grading 4.15 g/t gold uncut (3.80 g/t gold cut) at a midpoint depth of 160 m below surface and 19.0 m core length estimated 14.3 m true thickness grading 2.73 g/t gold at a midpoint depth of 200 m below surface.
Seventeen holes are reported in this news release of which five were expansion and 10 were infill, with two being regional tests of VMS targets. As of Aug. 31, 78,085 m of core have been collected from a total of 175 core holes, since the initiation of drilling in late 2015.
Barsele's president, Gary Cope, stated: "Expansion and infill drilling continue to yield positive results in the Central and Avan gold zones. At Central, surface trenching in preparation for detailed structural mapping, rock chemistry and grade determination has resumed. Regarding massive sulphide exploration, a combination of drill core-focused lithogeochemical sampling, multielement metal analysis, downhole geophysics and basal till/bedrock analysis has outlined favourable areas for future drill testing."
JUNE-JULY, 2017, DRILLING UPDATE
Hole ID From (m) To (m) CL (m) TL (m) Au (g/t) Top cut (g/t)
AVA17005 215.00 224.00 9.0 4.90 0.80
AVA17006 No significant intersections
AVA17007 9.00 15.00 6.00 4.40 0.74
152.00 157.00 5.00 3.60 1.09
611.00 613.20 2.20 1.80 5.33
AVA17008 14.45 17.00 2.55 1.80 1.16
119.00 124.00 5.00 3.40 2.04
AVA17009 284.00 299.00 15.00 8.10 2.17
306.00 312.00 6.00 3.20 1.12
333.00 336.00 3.00 1.60 2.63
356.00 367.00 11.00 5.90 1.53
AVA17010 13.00 19.00 6.00 3.40 2.05
306.00 314.00 8.00 4.10 1.90
371.00 378.00 7.00 3.70 9.70 9.47
AVA17011 107.00 115.00 8.00 4.70 0.82
210.00 218.00 8.00 4.90 2.29
376.00 383.00 7.00 4.80 1.88
391.00 402.00 11.00 7.60 1.13
AVA17012 51.00 55.00 4.00 2.10 1.11
175.00 179.00 4.00 2.20 2.78
291.00 308.00 17.00 9.20 0.83
CNT17008 343.00 351.25 8.25 5.10 2.11
402.00 412.00 10.00 6.20 1.25
446.00 455.00 9.00 5.60 1.05
463.00 473.00 10.00 6.30 0.82
CNT17009 24.00 35.40 11.40 5.90 1.45
58.00 67.00 9.00 4.70 1.63
212.00 220.00 8.00 4.20 1.50
234.00 240.00 6.00 3.10 2.59
CNT17010 171.00 182.00 11.00 3.40 1.11
355.00 361.00 6.00 1.80 1.44
373.00 379.00 6.00 1.80 1.48
406.00 428.00 22.00 6.5 1.42
601.00 612.00 11.00 3.5 1.03
CNT17011 219.00 226.00 7.00 5.20 2.33
234.00 243.00 9.00 6.70 4.15 3.80
285.00 304.00 19.00 14.3 2.73
CNT17012 94.00 102.00 8.00 5.40 1.27
301.00 311.00 10.00 7.3 1.22
362.00 381.75 19.75 14.5 5.07 3.49
439.00 442.00 3.00 2.20 2.11
489.00 497.00 8.00 6.00 2.10
515.50 534.00 18.50 13.9 1.96
CNT17013 70.80 75.00 4.20 2.3 2.64
132.00 137.00 5.00 2.8 0.95
335.00 340.00 5.00 2.8 1.59
377.00 388.00 11.00 6.3 2.03
420.00 428.00 8.00 4.6 1.08
CNT17014 429.00 437.00 8.00 4.9 1.72
559.00 568.00 9.00 5.8 2.73
575.00 581.00 6.00 3.8 2.54
588.00 594.00 6.00 3.9 2.37
NOR17001 No significant intersections
NOR17002 No significant intersectionsThis technical information in this release was verified by way of a site visit in August of 2017 by the qualified person, where the data were 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 the company's website.
All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultratrace level method (ME-MS61) 48 elements 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, species studies, and hydrogeology studies are continuing.
About the Barsele gold project
The 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.
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 Skirasen zones, that are now interpreted to be part of the same mineralized system that extends 3.0 kilometres in strike length and to a depth of 700 m and still open in all directions. These contiguous mineralized zones occur within a granodiorite host that ranges in width from 200 to 500 m and is traceable over a strike length exceeding 8.0 kilometres. Gold is generally associated with arsenopyrite and low base metal content, but also occurs locally as native metal.
Art Freeze, PGeo, is the qualified person as defined in National Instrument 43-101 and takes responsibility for the technical disclosure contained within this news release.
About Barsele Minerals Corp.
Barsele's main property is the Barsele gold project in Vasterbottens Lan, Sweden, a joint venture with Agnico Eagle. An updated NI 43-101 technical report is expected to be released toward the end of the first quarter of 2018.
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