Agnico Eagle provides a third Progress Update on the Barsele Au-VMS Project
Vancouver, BC -- Barsele Minerals Corp. -- (TSX-V: BME) ("Barsele") is pleased to provide a third operational progress update for the current 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.
Phase-2 drilling commenced with one drill on April 29th. A second drill was placed in operation on June 7th. Currently the two drills are in the Avan (Au) and Norra (VMS) area, testing IP and MT anomalies identified in the Titan-24 geophysical survey. The anomalies being tested have similar characteristics to the Central (Au) Zone. During May 2016, diamond drilling totalling 1,464.65 meters was completed, with accumulated meterage since January 2016 being 6,383.00 metres. Hole SKI 16006 was completed and the majority of hole SKI 16007 was drilled during the month of May.
Highlights of the latest exploration drill results include 2 intercepts in the Skiråsen Zone, with hole SKI 16005 yielding 105 meters core length (estimated 78.80 meters true thickness) grading 1.25 g/t gold, plus hole SKI 16006 with 93 meters core length (estimated 69.80 meters true thickness) grading 1.31 g/t gold including, 25.70 meters core length (estimated 19.30 meters true thickness) grading 2.17 g/t gold. These drill intercepts are located roughly 850 meters southeast of the core of the Central Zone.
Drill hole SKI 16006 was drilled to a depth of 788.10 m and tested the SE down-dip extension of the Skiråsen Zone. The 69.8 m intercept extends the known Skiråsen mineralization by approximately 200 meters down plunge from the 78.8 m intercept in hole SKI 16005.
Drill hole SKI 16007 was drilled to a depth of 882.10 m. This hole was designed to probe for mineralization 100-125 m below SKI 16006. Analytical results are pending.
Ongoing Highlights of the Barsele 2015-2016 Drilling Program
at 20 g/t
Barsele's President, Gary Cope comments, "Drilling has yielded very significant thicknesses of good grade rock at Skiråsen in holes SKI 16005 and SKI 16006. We remain optimistic that Agnico Eagle will continue to extend the Skiråsen zone at depth and to the southeast."
As project operator, Agnico Eagle is continuously involved with a community relations program to engage the various stakeholders in the project area. Meetings at least twice a year are planned in order to discuss project progress and future planning.
Environmental base line studies (water chemistry, biota in water, nature inventory) continue. In total, 117 old drill casings have been cut back to ground level and 34 old drill holes have been plugged. Down hole surveying of old RC and top hammer and conventional drill holes has been carried out where possible. Diamond drilling is ongoing with two drills.
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.
In September of 2015, mineral resource estimates were released for the Barsele Project in four zones, the Central, Avan and Skiråsen Gold Zones and the Norra VMS Zone. The resource estimate for the Central-Avan-Skiråsen Zones states an Indicated Resource of 14.1 million tonnes grading 1.21 g/t gold for 547,000 contained ounces, plus an Inferred Resource of 20.2 million tonnes grading 0.97 g/t gold for 627,000 contained ounces. The polymetallic Norra Zone contains an Indicated Resource of 110,000 tonnes grading 3.13 g/t gold, 30.3 g/t silver, 0.53 % copper and 0.72 % zinc, plus an Inferred Resource of 310,000 tonnes grading 1.62 g/t gold, 12.7 g/t silver, 0.26 % copper and 0.42 % zinc. All zones were estimated at a gold cut-off grade of 0.6 g/t.
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 Mines Limited.
ON BEHALF OF THE BOARD OF DIRECTORS
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