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05-Jul-18

Barsele Project Drill Hole AVA18003 within the Avan Zone intersects 9.0 metres grading 35.72 grams gold.

Expansion hole CNT18002 cut 7 gold zones with best hit of 13.0 metres grading 2.8 g/t gold.

  • AVA18001 cut 4 gold zones with a best hit of 17.4 metres grading 2.54 g/t gold.
  • NOR18007 at the Stentjärnen potential gold zone yields 3.2 metres grading 2.97 g/t gold.


Vancouver, BC -- Barsele Minerals Corp. -- (TSX-V: BME) ("Barsele") is pleased to report an operational update for the ongoing exploration program within the Barsele Gold-VMS Project area in Västerbottens Län, northern Sweden (the "Barsele Project"). The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited -- (TSX, NYSE: AEM) ("Agnico Eagle"). Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay by Barsele until pre-feasibility is completed.

On April 10th, a total of four drills became operational at the Barsele Project. As of the end of May, 18,252 metres of core has been collected from 43 completed holes since drilling started in early January, 2018. Twenty-eight drill holes are tabulated in this news release. At Avan, five expansion holes are presented, with assays pending for two of them. At Central, two expansion holes are reported, as well as results from one hole at Skiråsen. Of the remaining holes, two targeted VMS-style mineralization and eighteen pursued the northwest trending Stentjärnen linear magnetic low that coincides with gold anomalous till sample results. This parallel trending Stentjärnen Zone lies north of the Avan, Central and Skiråsen gold zones and south of the Norra VMS Zone. Base of till testing is ongoing.

At the Avan Zone, highlight results include AVA18001 which intersected gold mineralization that averaged 2.54 g/t gold along a core length of 17.40 metres (estimated 11.5 metres true thickness) at a midpoint depth of 15 metres below surface. AVA18003 cut 6.0 metres core length (estimated 3.7 metres true thickness) grading 2.79 g/t gold at a midpoint depth of 105 metres below surface, plus 9.0 metres core length (estimated 5.7 metres true thickness) grading 35.72 g/t gold uncut (5.58 g/t gold cut) at a midpoint depth of 200 metres below surface. AVA18005 cut 13.0 metres core length (estimated 8.2 metres true thickness) grading 2.3 g/t gold at a midpoint depth of 235 metres below surface.

At the Central Zone, CNT18002 intersected seven gold-bearing zones with the highlight intercept being 13.0 metres core length (estimated 7.2 metres true thickness) grading 2.8 g/t gold at a midpoint depth of 445 metres below surface.

Along the Stentjärnen trend, NOR18007 cut 3.2 metres core length (estimated 2.3 metres true thickness) grading 2.97 g/t gold. Beyond three holes with minor zinc intercepts, and another drill hole with a minor gold intercept, the majority of the Stentjärnen holes did not encounter mineralization along this target-trend, which is not associated with the main mineralized trend that hosts the gold resource.

Barsele's President, Gary Cope states; "Drilling is now focused on the search for extensions of higher-grade (>2.5 g/t) gold zones at Avan, Central and Skiråsen and planning is taking place toward the resumption of drilling at Risberget, as well as new regional VMS targets. We look forward to forthcoming drill results along with an ongoing successful drilling campaign in 2018."


March through May 2018 Drilling Update
Hole ID Easting Northing Az Dip DDH
Length
From
(m)
To
(m)
CL
(m)
TL
(m)
Au
(g/t)
Top
Cut
(g/t)
AVA18001 617170.824 7215478.46 220 -47 448.30 11.60 29.00 17.40 11.5 2.54  
Expansion           124.00 129.00 5.00 3.30 2.07  
            273.00 274.00 1.00 0.70 12.25  
            303.00 307.00 4.00 2.80 1.78  
                       
AVA18002 617319.674 7215318.69 220 -47 327.90            
Expansion hole is being extended                  
                       
AVA18003 617320.514 7215319.43 41 -51 309.40 129.00 135.00 6.00 3.70 2.79  
Expansion           253.00 262.00 9.00 5.70 35.72 5.58
                       
AVA18004 617320.161 7215319.14 41 -56 371.00            
Expansion assays pending                  
                       
AVA18005 617477.678 7215263.87 41 -54 427.50 290.00 303.00 13.00 8.20 2.30  
Expansion                      
                       
CNT18001 618310.830 7215262.03 221 -46 498.50 399.00 403.00 4.00 2.70 2.30  
Expansion                      
                       
CNT18002 618412.290 7214706.57 29 -58 769.50 161.00 166.00 5.00 2.50 1.92  
Expansion           425.00 477.00 52.00 28.0 0.72  
            507.00 514.00 7.00 3.80 2.77  
            518.00 531.00 13.00 7.20 2.80  
            539.00 546.00 7.00 3.90 1.18  
            552.00 565.00 13.00 6.70 2.02  
            676.00 680.00 4.00 2.20 1.69  
                       
SKI18001 619350.74 7214411.46 39 -57 610.30 428.00 444.00 16.00 9.30 0.48  
Expansion           589.40 598.00 8.60 5.00 0.66  
                       
NOR18002 616878.700 7216670.90 60 -58 509.30            
VMS no significant intersections                  
                       
NOR18003 616365.350 7216869.14 212 -47 245.20            
Stentjärnen no significant intersections                  
                       
NOR18004 616394.060 7216778.46 210 -54 218.30            
Stentjärnen no significant intersections                  
                       
NOR18005 616394.440 7216779.14 31 -47 263.10            
Stentjärnen no significant intersections                  
                       
NOR18006 616878.370 7216669.99 29 -65 851.20 264.90 269.00 4.10 3.10 nil Au  
VMS         plus 33.8 g/t Ag 302 g/t Sb        
                       
NOR18007 616663.240 7216633.55 34 -52 365.10 247.00 250.20 3.20 2.30 2.97  
Stentjärnen                      
                       
NOR18008 616660.190 7216628.69 210 -52 295.80            
Stentjärnen no significant intersections                  
                       
NOR18009 616786.040 7216496.38 212 -47 227.10            
Stentjärnen no significant intersections                  
                       
NOR18010 616789.030 7216501.52 32 -47 332.10 211.40 213.00 1.60 1.15 nil Au  
Stentjärnen         plus 1.91% Zn          
                       
NOR18011 616788.910 7216501.38 32 -54 325.70 103.00 104.10 1.10 0.80 nil Au  
Stentjärnen         plus 1.12% Zn          
                       
NOR18012 616517.740 7216816.67 213 -47 326.10            
Stentjärnen no significant intersections                  
                       
NOR18013 616521.150 7216822.12 31 -47 231.90            
Stentjärnen no significant intersections                  
                       
NOR18014 616403.580 7217044.71 30 -47 374.00            
Stentjärnen no significant intersections                  
                       
NOR18015 617199.040 7216323.34 211 -47 167.30            
Stentjärnen no significant intersections                  
                       
NOR18016 616951.120 7216576.11 256 -47 307.60 101.60 102.20 0.60 0.44 nil Au  
Stentjärnen         plus 1.53% Zn          
                       
NOR18017 616867.150 7216839.68 211 -47 253.60            
Stentjärnen no significant intersections                  
                       
NOR18018 617202.470 7216328.55 32 -47 124.70 5.00 13.00 8.00 6.00 0.42  
Stentjärnen                      
                       
NOR18019 617198.050 7216320.63 38 -60 100.50            
Stentjärnen no significant intersections                  
                       
NOR18020 617388.600 7216252.57 217 -47 143.00            
Stentjärnen no significant intersections                  
                       
NOR18021 617391.390 7216256.88 31 -47 229.30            
Stentjärnen no significant intersections                  
                       
Az = Compass Bearing      Dip = Degrees Inclined       CL = Core Length       TL = Est. True Length       Top Cut varies 40-18 g/m

The technical information in this news release was verified by way of site visits, in March and June of 2018, by the Qualified Person, where the data was discussed with the site management and technical staff and the database was reviewed and drill core was examined. The quality control/quality assurance program at the Barsele Project is described on the Barsele website at http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.

All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultra trace level method (ME-MS61)-48 element by using four acid digestion together with ICP-AES and ICP-MS analytical methods. Gold is tested by fire assay, aqua regia digestion 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 Barsele Project area. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing.

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.

Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Avan, Central and Skiråsen zones and recently the Risberget Zone.

This gold system remains open in all directions. These structurally-linked mineralized zones occur within granodiorite-volcanic-sedimentary host rocks that vary in width from 10's of metres to 500 metres and have been traced over a strike length exceeding 8.0 kilometres. Gold is generally associated with arsenopyrite and low base metal content, but also occurs as native metal.

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 managed by the Belcarra Group, 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. An updated NI 43-101 Technical Report on the Barsele Project with an Effective Date of February 16th, 2018, was filed on SEDAR on April 12th, 2018.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President
For further information, please contact Barsele Minerals Corp. at (604) 687-8566 x 228, 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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