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Barsele Minerals announces an operational update

Mining News - Published on Thu, 16 Aug 2018

Image Source: newswire.ca
Barsele Minerals Corp. announced 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 requirement by Barsele until pre-feasibility is completed.

Four drills were operational during the month of June. As of the end of June, 21,717 metres of core has been collected from 50 completed holes, since drilling was re-started in early January, 2018. Eleven drill holes are listed in this news release, with results pending for three of those holes. At Avan, four expansion holes are presented, with assays pending for two of those holes. At Central, four expansion holes are listed, with assays pending for one of those holes. At Skiråsen, three holes are presented, with one of those holes abandoned and re-drilled. Base of till drill testing is ongoing, along with regional surface till sampling.

At the Avan Zone, highlight results include AVA18004 which intersected five zones of gold mineralization with a highlight hit that averaged 2.17 g/t gold along a core length of 14.0 metres (estimated 8.2 metres true thickness) at a midpoint depth of 215 metres below surface. AVA18006 cut 24.0 metres core length (estimated 14.4 metres true thickness) grading 3.76 g/t gold at a midpoint depth of 200 metres below surface.

At the Central Zone, CNT18003 intersected four gold-bearing zones with the highlight intercept being 10.0 metres core length (estimated 3.4 metres true thickness) grading 2.74 g/t gold at a midpoint depth of 415 metres below surface. CNT18004 cut two gold bearing zones with a highlight intercept of 3.0 metres core length (estimated 1.7 metres true thickness) grading 7.17 g/t gold at a midpoint depth of 625 metres below surface. CNT18006 intersected 3.0 metres core length, (estimated 2.0 metres true thickness) grading 11.12 g/t gold at a midpoint depth of 60 metres below surface.

At the Skiråsen Zone, SKI18002 cut six gold mineralized intervals with the highlight intercept being 9.0 metres core length (estimated 5.6 metres true thickness) grading 3.76 g/t gold at a midpoint depth of 300 metres below surface. Abandoned hole SKI18003 cut 2.0 metres core length (estimated 1.2 metres true thickness) grading 29.17 g/t gold uncut (16.5 g/t gold cut) at a midpoint depth of 30 metres below surface. Hole SKI18003B (a re-collar of 18003), cut four gold mineralized intervals including 15.0 metres core length (estimated 8.7 metres true thickness) grading 2.16 g/t gold at a midpoint depth of 490 metres blow surface, plus 27.0 metres core length (estimated 13.5 metres true thickness) grading 4.12 g/t gold uncut (3.7 g/t gold cut) at a midpoint depth of 560 metres below surface, plus 9.0 metres core length (estimated 5.0 metres true thickness) grading 2.26 g/t gold at a midpoint depth of 580 metres below surface, and an additional 6.0 metres core length (estimated 3.7 metres true thickness) grading 2.25 g/t gold at a midpoint depth of 715 metres below surface.

Barsele's President, Gary Cope states; "We continue to be very pleased with the latest results from the expansion drilling in all three zones, Avan, Central and Skiråsen. These results demonstrate ongoing good grades and thicknesses, at varying depths throughout the 3.0-kilometre trend. Drilling is now focusing on a variety of targets, including Risberget, and regional geophysics targets and or anomalous BOT targets, as well as ongoing testing at Avan, Central and Skiråsen."

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Posted By : Rabi Wangkhem on Thu, 16 Aug 2018
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