Operational Update for the Barsele Au-VMS ProjectVancouver, BC - Barsele Minerals Corp. - (TSX-V: BME) ("Barsele") is pleased to report a twelfth 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 month of March, three diamond drilling machines were focused on expansion drilling between the Central and Avan zones. Planning toward future testing (commencing May) of selected volcanogenic massive sulphide (VMS) targets, including extension drilling of the Norra Zone was completed. A total of 147 out of 500 planned base of till (BOT) holes were completed by month end. There are plans to mobilize a fourth drill in May, with the fifth machine expected to arrive in early June.
Highlight infill hole SKI17004 yielded seven significant intercepts, including 13.1 meters core length (estimated 7.0 meters true thickness) grading 3.12 g/t gold uncut (2.75 g/t gold cut) at a midpoint depth of 255 meters below surface, plus 21.0 meters core length (estimated 12.0 meters true thickness) grading 2.65 g/t gold at a midpoint depth of 405 meters below surface. Hole SKI17005 yielded nine significant intercepts with a best hit of 23.0 meters core length (estimated 17.0 meters true thickness) grading 1.85 g/t gold at a midpoint depth of 390 meters below surface. Hole SKI17006 yielded a best hit of 4.45 meters core length (estimated 3.2 meters true thickness) grading 5.86 g/t gold at a midpoint depth of 265 meters below surface, while SKI17007 yielded a high-grade interval of 1.1 meters core length (estimated 0.5 meters true thickness) grading 101.70 g/t gold uncut (11.42 g/t gold cut) at a depth of 260 meters below surface.
Five holes were completed during the month of March of which three were expansion and two were infill. During the month, 3,601 meters were drilled and there were 2,565 samples sent for analysis, with 2,312 assay results received.
Barsele's President, Gary Cope states, "Hole SKI16002 was re-entered and extended and has delivered the deepest vertical gold hit of 695 meters vertically below surface. The entire mineralized system remains open along strike and at depth. We look forward to a total of five drills coring by early June."
|February 2017 Drilling Update|
|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 April, 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 approximately 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 as native metal locally.
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. The company has retained the services of Amec Foster Wheeler to complete an Independent Review of the Barsele Mineral Resource Update that was recently created by Agnico Eagle. An updated NI 43-101 Technical Report will be prepared by Barsele if warranted.
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
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