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29-Feb-16

Drilling at Barsele Intercepts 112 Metres Grading 2.01 g/t Gold; Agnico Eagle Provides a Progress Update on the Barsele Au-VMS Project

Vancouver, BC – Barsele Minerals Corp. – (TSX-V: BME) ("Barsele") is pleased to report an 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 Limited - (TSX, NYSE: AEM) ("Agnico Eagle"). Ownership in the project is 55% Agnico Eagle and 45% Barsele.

Diamond drilling has been conducted primarily in the mid to eastern Central Zone around the existing gold resource area and to the east-southeast along the trend of the Skiråsen Zone to the boundary of the Exploitation Concession. The Exploration Concessions extend a further 7 km to the southeast. Of the 12,000 metres drilled to date, 8,385 metres in 15 holes were drilled by December 31st, 2015 and 3,615 metres in 9 holes were completed by February 15th, 2016. In total, 10,800 samples have been submitted for analyses and, by mid February, 6,550 sample results have been received. Gold assay values exceeding 20 g/t are top-capped at 20 g/t.

A highlight of this phase of exploration is an intercept in the Skiråsen Zone, hole CNT15016, of 112 metres core length (estimated 84 metres true thickness) grading 2.01 g/t gold. This hole is located 650 metres southeast of the Central Zone.

Highlights of the Barsele 2015-2016 Drilling Program
Barsele 2015-2016 Drilling Program (to February 15, 2016)
Hole From
(m)
To
(m)
Core Length (m) True Thickness (m) Au
(g/t)
Top-Capped
at 20 g/t
Au (g/t)
CNT15001 Assays Pending for Hole CNT15001
 
CNT15002 334.00 346.00 12.00 9.00 2.81 2.64
  363.00 402.00 39.00 29.30 1.65 1.65
 
CNT15003 218.00 243.00 25.00 18.80 2.09 1.95
  373.00 403.00 30.00 22.50 1.20 1.20
 
CNT15004 291.00 379.00 88.00 66.00 1.00 1.00
 
CNT15005 31.00 32.30 1.30 1.00 79.00 9.15
  172.50 201.00 28.50 21.40 1.27 1.27
 
CNT15006 209.00 274.00 65.00 48.80 0.95 0.95
  303.20 321.00 17.90 13.40 1.64 1.64
  338.10 355.00 16.90 12.70 0.75 0.75
 
CNT15007 313.00 324.00 11.00 8.30 1.62 1.62
  437.00 449.00 12.00 9.00 12.37 3.28
 
CNT15008 110.00 136.00 26.00 19.50 0.51 0.51
 
CNT15009 106.00 168.00 62.00 46.50 1.12 1.12
  383.00 432.00 49.00 36.80 1.15 1.15
 
CNT15010 125.00 139.00 14.00 10.50 1.25 1.25
  223.00 252.00 29.00 21.80 1.59 1.59
  More Assays Pending for Hole CNT15010
 
CNT15011 62.00 74.00 12.00 9.00 0.94 0.94
  124.00 127.00 3.00 2.30 3.20 3.20
  More Assays Pending for Hole CNT15011
 
CNT15012 Lost Hole CNT15012 Prior to Encountering the Mineralized Corridor
 
CNT15013 Hole CNT15013 Currently Being Drilled
 
CNT15014 Assays Pending for Hole CNT15014
 
CNT15015 23.00 34.00 11.00 8.30 8.06 6.74
  76.00 86.00 10.00 7.50 1.65 1.65
 
CNT15016 270.00 277.00 7.00 5.30 5.06 5.06
  339.00 451.00 112.00 84.00 2.07 2.01

Barsele's President, Gary Cope says, "We are very pleased with the work Agnico Eagle has completed to date at Barsele. Drilling has yielded a very significant intercept of good grade rock at Skiråsen in hole CNT 15016. This is very positive for the future of the project."

One drill is currently coring, and when that hole is completed, there will be a break to evaluate and allow sufficient time to interpret the geological and analytical results, with the intent to resume drilling around mid-April, 2016. During the hiatus, 5 lines of Titan-24 Induced Polarization geophysics are planned to be completed.

With each drill hole completed, new knowledge is gained and Barsele geologists and management are very pleased with the progress to date. As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the project area.

As well as future diamond drilling and the Titan-24 IP survey, base of till sampling, and hyperspectral scanning of drill core will be carried out. Furthermore, basic environmental assessment and surface water characterization and hydrogeology studies will be completed in conjunction with tailings and waste characterization and metallurgical studies.

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.

In November of 2012, mineral resource estimates by Orex Minerals Inc. - (TSX.V: REX) ("Orex") were released for the Barsele Project in four zones, the Central, Avan and Skiråsen Gold Zones and the Norra VMS Zone (Orex News Release dated 21 November 2012). 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. and Ben Whiting, P.Geo., are Qualified Persons as defined in NI 43-101 and take 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.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

For further information, please contact Barsele Minerals Corp. at (604) 687-8566 x227, email info@barseleminerals.com or visit our website at www.barseleminerals.com

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Barsele undertakes no obligation to update such statements, except as required by law.

Neither 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
 
 

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