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14-Dec-16

Expansion Drilling at Barsele Extends the Central Zone Mineralization 345 meters West-Northwest Towards the Avan Zone.

Hole CNT16011 cuts 23.00 meters grading 7.90 g/t gold at 275 meters depth.

Vancouver, BC -- 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 Limited. -- (TSX, NYSE: 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 Length (m) True Thickness (m) Au
(g/t)
Top-Capped
at 20 g/t
Au (g/t)
AVA16011 Expansion 347.00 355.00 8.00 6.00 1.95  
    369.00 376.00 7.00 5.30 1.04  
    445.00 463.00 18.00 13.50 2.35  
               
CNT16009 Validation 33.00 62.00 29.00 21.80 1.44  
               
CNT16010 Validation 15.00 40.00 25.00 18.80 1.68  
    50.00 87.00 37.00 27.80 1.46 1.13
    146.00 161.00 15.00 11.30 2.08  
               
CNT16011 Expansion 351.00 374.00 23.00 11.50 7.90 5.36
  incl. 351.00 364.00 13.00 6.50 13.05 8.56
               
CNT16012 Validation 2.70  172.95 170.25  127.7  1.31 1.19
  Incl. 121.00 141.00 20.00 15.00 4.72 3.34
               
CNT16013 Validation 45.00 97.00 52.00 39.00 3.14 2.43
    133.00 197.00 64.00 48.00 2.69  
               
CNT16016 Validation 72.00 113.00 41.00 30.80 2.50  
               
CNT16018 Validation 5.80 42.00 36.20 27.20 2.45  
    65.00 74.00 9.00 6.80 2.22  
    94.00 113.00 19.00 14.30 1.38  
    135.00 140.00 5.00 3.80 10.59 9.17

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.

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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