Operational Update for the Barsele Au-VMS Project
Vancouver, BC - Barsele Minerals Corp. - (TSX-V: BME) ("Barsele") is pleased to report a tenth 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. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study.
During the month of January, three diamond drilling machines were focused within and along the trend of the Avan, Central and Skiråsen zones, where validation, conversion and expansion drilling has taken place. Highlight validation hole AVA16024 yielded 14.0 meters core length (estimated 10.0 meters true thickness) grading 1.01 g/t gold at a depth of 20 meters below surface. In addition, conversion hole SKI16015 yielded 31.0 meters core length (estimated 16.5 meters true thickness) grading 2.29 g/t gold at a midpoint of 315 meters below surface and conversion hole CNT16032 cut 92.0 meters core length (estimated 62.0 meters true thickness) grading 1.63 g/t gold at a midpoint of 390 meters below surface.
Four holes were completed during the month of January of which one was validation, two were conversion and one was expansion. During the month, 1,466 meters was drilled and there were 1,768 samples sent for analysis, with 3,030 assay results received.
Barsele's President, Gary Cope states, "We continue to receive positive results in validation, conversion and expansion drilling at Barsele. The 375-meter extension of the Avan Zone is a very positive indication for potential northwesterly growth of this large mineralized system."
|Highlight Results from the January 2017 Reporting Period|
at 20 g/t
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 600 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 Mines Limited. 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 if warranted.
ON BEHALF OF THE BOARD OF DIRECTORS
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