Validation Hole AVA16022 yields 2.00 meters containing polymetallic quartz veins grading 2.87 g/t gold, 286.00 g/t silver, 2.67% lead, 0.62% zinc.
Vancouver, BC -- Barsele Minerals Corp. -- (TSX-V: BME) ("Barsele")
Operational Update for the Barsele Au-VMS Project
is pleased to report a ninth 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 December, four machines continued diamond drilling until the Christmas break, with two validation and four conversion holes completed within and along the trend of the Avan, Central and Skiråsen zones. Highlight conversion hole SKI16013 yielded 26.00 meters core length (estimated 19.50 meters true thickness) grading 4.00 g/t gold uncut (1.65 g/t gold cut) at a midpoint depth of 120 meters below surface, plus 46.00 meters core length (estimated 35.00 meters true thickness) grading 1.96 g/t gold at a midpoint depth of 205 meters below surface. In addition, validation hole AVA16022 cut 2.50 meters core length (estimated 2.00 meters true thickness) containing polymetallic quartz veins grading 2.87 g/t gold, 286.00 g/t silver, 2.67% lead, 0.62% zinc.
During December, 3,045 meters were drilled, for a cumulative total of 39,111 meters in 85 holes, since October 2015. That month, there were 2,462 core samples sent for analysis, with 3,823 core assay results received.
Basal till sampling results have been received. There were 129 basal till samples and 135 top of outcrop samples submitted for analysis. The analytical results indicate that the gold mineralization most likely continues between the Central and Avan zones and there is a possibility for additional parallel gold zones to the southwest of Avan and Skiråsen.
Barsele's President, Gary Cope states, "The basal till sampling results are very encouraging, and we look forward to future drill testing of these areas. We continue to be encouraged with the drilling results and we look forward to the upcoming Resource Estimate."
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 ongoing. Barsele expects that Agnico Eagle will release a new Inferred Mineral Resource estimate for the Avan, Central and Skiråsen and Norra deposits this month.
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.
On September 25, 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
For further information, please contact Barsele Minerals Corp.
at (604) 687-8566 x227, email email@example.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