- SKI17016 cut seven mineralized zones, with a highlight of 14.0 metres grading 12.60 g/t gold.
- New claims Gunnarn 31, 34, 35 add 15,651 hectares.
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.
During February 2018, drilling continued with two diamond drilling machines operational within the property. A total of 2,598.9 metres were drilled. One VMS-hole and six regional exploration holes were completed. A VMS hole and a regional hole were ongoing at month end. Base of till testing is ongoing.
At the Skiråsen Zone, highlight results include hole SKI17016 which intersected gold mineralization that averaged 2.43 g/t gold uncut (1.86 g/t gold cut) along a core length of 176.0 metres (333.00 metres to 509.00 metres downhole). Within this drill hole, there occur seven mineralized intervals with highlight intercepts of 37.0 metres core length (estimated 14.7 metres true thickness) grading 2.48 g/t gold at a midpoint depth of 250 metres below surface and 87.0 metres core length (estimated 35.0 metres true thickness) grading 1.98 g/t gold at a midpoint depth of 345 metres below surface and 24.0 metres core length (estimated 10.0 meters true thickness) grading 2.14 g/t gold at a midpoint depth of 415 metres below surface and 14.0 metres core length (estimated 5.8 metres true thickness) grading 12.6 g/t gold uncut (5.55 g/t gold cut) at a midpoint depth of 460 metres below surface.
At the Norra VMS Zone, expansion hole NOR18001 did not yield any significant intercepts, although occurrences of sphalerite (zinc) and chalcopyrite (copper) were noted in the core logs.
Base of till sample results from Skirliden located along the eastern boundary of Lake Skirträsket indicates a NW-SE trending gold, silver, zinc, copper, molybdenum, antimony anomaly that will be drill tested in 2018.
Barsele's President, Gary Cope stated; "Hole SKI17006 at the Skiråsen Zone is notable in its yield of in excess of 176 metres at an average grade exceeding 2.4 grams gold," but also noted that the new claims added now extend the overall project claim holdings by 50 percent. Further, he commented from a corporate perspective, that "outstanding warrants due to expire in the quarter were exercised, adding approximately $CDN 1.6 million to the Company's working capital."
February 2018 Drilling Update
Top Cut (g/t)
Az = Compass Bearing Dip = Degrees Inclined CL = Core Length TL = Est. True Length Top Cut Skiråsen=30 grams
The technical information in this news release was verified by way of a site visit during March 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 Gold 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 kilometers. 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.
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) acceptsresponsibility for the adequacy or accuracy of this release