The Phase-1 regional drilling program targeting VMS horizons at Kohobben has been completed. The presence of silver, lead and zinc minerals in tentatively identified exhalative horizons is considered to be a positive indicator for massive sulphide mineralization. Hole KOH16-001 reported in this release yielded 5.0 metres core length (estimated 3.8 metres true thickness) grading 10.92 g/t silver, 1.08 percent lead and 2.10 percent zinc.
Kohobben Zone Drilling Program Result
Barsele's President, Gary Cope comments, "The northwest extension drilling at Central has yielded two highly significant intervals of good grade rock in holes CNT16-001 and CNT16-002. We are optimistic that Agnico Eagle will establish continuity between the Central and Avan zones. We are also encouraged with the first drill result from the Kohobben VMS target area."
In 2016, Agnico Eagle plans to spend approximately $US 7.5 million on exploration to further evaluate the mineral potential on the property. This work will include expansion drilling, validation drilling, regional drilling, and base of till drilling; all of which is ongoing. Planned drill meterage has increased from 19,000 to 36,000 meters. In addition, environmental base line studies (water chemistry, biota in water, nature inventory) continue.
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.
In September of 2015, mineral resource estimates 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.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact Barsele Minerals Corp. at (604) 687-8566 x227, email firstname.lastname@example.org 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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