As of the date of this news release, there are five drills coring at the project site.
Operational Update for the Barsele Au-VMS Project
Vancouver, BC -- Barsele Minerals Corp. -- (TSX-V: BME) ("Barsele") is pleased to report a fourteenth operational progress update for the ongoing 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. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study.
During the months of May through August, between two and five diamond drilling machines were focused along the Central and Avan zones, as well as regional drilling of gold targets and selected volcanogenic massive sulphide (VMS) targets. Base of till (BOT) testing is ongoing.
Recent drill results through the end of July include highlight infill hole CNT17012 that yielded 19.75 meters core length (estimated 14.5 meters true thickness) grading 5.07 g/t gold uncut (3.49 g/t gold cut) at a midpoint depth of 265 meters below surface. Expansion hole AVA17010 yielded 7.0 meters core length (estimated 3.7 meters true thickness) grading 9.70 g/t gold uncut (9.47 g/t gold cut) at a midpoint depth of 320 meters below surface. This hole indicates that the system is still open to the northwest. Infill hole CNT17011 yielded two significant intercepts, including 9.0 meters core length (estimated 6.7 meters true thickness) grading 4.15 g/t gold uncut (3.80 g/t gold cut) at a midpoint depth of 160 meters below surface and 19.0 meters core length estimated 14.3 meters true thickness grading 2.73 g/t gold at a midpoint depth of 200 meters below surface.
Seventeen holes are reported in this news release of which five were expansion and ten were infill, with two being regional tests of VMS targets. As of August 31st, 78,085 meters of core has been collected from a total of 175 core holes, since the initiation of drilling in late 2015.
Barsele's President, Gary Cope states, "Expansion and infill drilling continue to yield positive results in the Central and Avan gold zones. At Central, surface trenching in preparation for detailed structural mapping, rock chemistry and grade determination has resumed. Regarding massive sulphide exploration, a combination of drill core-focused lithogeochemical sampling, multi-element metal analysis, downhole geophysics and basal till/bedrock analysis has outlined favourable areas for future drill testing."
|Infill||No Significant Intersections|
|0.76% Pb||0.80% Zn||56.14 g/t Ag||333.00||336.00||3.00||1.60||2.63|
|Additional assays pending|
|Regional||No Significant Intersections|
|Regional||No Significant Intersections|
|Az = Compass Bearing Dip = Degrees Inclination CL = Core Length TL = True Length Top Cut to 20 g/t gold|
This technical information in this release was verified by way of a site visit in August of 2017 by the Qualified Person, where the data was discussed with the site operator, the database was reviewed, and drill core was examined. The quality control/quality assurance program at the Barsele project is described on our 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 digest 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 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.
The intrusive hosted gold mineralization within the Barsele Property appears to be similar to Agnico Eagle's Goldex deposit in Quebec. Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Central, Avan and Skiråsen zones, that are now interpreted to be part of the same mineralized system that extends 3.0 kilometers in strike length and to a depth of 700 meters and still open in all directions. These contiguous mineralized zones occur within a granodiorite host that ranges in width from 200 to 500 meters and is traceable over a strike length exceeding 8.0 kilometers. Gold is generally associated with arsenopyrite and low base metal content, but also occurs locally 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 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 is expected to be released toward the end of the first quarter of 2018.
ON BEHALF OF THE BOARD OF DIRECTORS
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