Drilling at Risberget, 3.7 kilometers to the east-southeast of Skiråsen, yields four significant gold hits.
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 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 project through completion of a pre-feasibility study. There is no cash outlay by Barsele until pre-feasibility is completed.
Agnico Eagle has completed initial metallurgical testing on the Avan, Central and Skiråsen zones, as well as a test of a Master Composite of the three zones. The results indicate a global gold recovery of approximately 92 percent.
During the month of August, four diamond drilling machines were operational within the Avan and Central zones, with one regional drill focused on the new Risberget gold target, to the east-southeast of the Skiråsen Zone.
Recent significant drill results through the end of August include highlight regional hole RIS17001, located 3.7 kilometers east-southeast of the Skiråsen Zone, that has to date yielded four significant gold intercepts with multiple free gold occurrences. The best intercept to date is 15.3 meters core length (11.5 meters true thickness) grading 1.87 g/t gold at a midpoint depth of 180 meters below surface and there are assay results pending from this hole. In addition, infill hole CNT17015 yielded 35.0 meters core length (estimated 12.0 meters true thickness) grading 2.33 g/t gold uncut (1.72 g/t gold cut) at a midpoint depth of 535 meters below surface. Infill hole CNT17017 yielded 25.0 meters core length (estimated 15.8 meters true thickness) grading 1.29 g/t gold at a midpoint depth of 235 meters below surface, plus 30.0 meters core length (estimated 20.3 meters true thickness) grading 2.34 g/t gold at a midpoint depth of 295 meters below surface. Infill hole CNT17018 yielded 12.0 meters core length (estimated 5.8 meters true thickness) grading 3.68 g/t gold uncut (3.22 g/t gold cut) at a midpoint depth of 380 meters below surface, plus 13.0 meters core length (6.4 meters true thickness) grading 2.43 g/t gold at a midpoint depth of 425 meters below surface.
Fourteen holes are reported in this news release of which twelve were infill, one was expansion, and one was a regional test. Since the initiation of drilling in late 2015, 78,085 meters of core has been collected from a total of 175 drill holes. Basal till sampling is ongoing.
Barsele's President, Gary Cope states, "The metallurgical test results are very positive for the future of Barsele. In addition, the multiple gold intercepts in the 3.7 kilometer stepout hole at Risberget add a significant potential extension to this large gold system. We also look forward to the new geological and structural conclusions derived from the trenching program at the Central Zone."
|August 2017 Drilling Update|
|Au(g/t)||Top Cut (g/t)|
|Infill||No Significant Intersections|
|Infill||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.
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 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.