VANCOUVER, April 12, 2018 /CNW/ - Barsele Minerals
Corp. – (TSX-V: BME) ("Barsele") is pleased to
report that it has filed the technical report ("the Report") in
support of the Independent Updated Mineral Resource Estimate
presented in the February 26, 2018
news release. The Report has been prepared in accordance with
Canadian Securities Administrators' National Instrument 43-101 and
a copy of the Report may be found under the Company's profile at
www.sedar.com and on Barsele's website at
www.barseleminerals.com.
The Report, with the effective date of February 15, 2018, is entitled "NI 43-101
Technical Report and Mineral Resource Estimate On The Barsele
Property". The project is located in Västerbottens Län, northern
Sweden (the "Barsele
Project"). There has been a change for the qualified person.
Carl Pelletier, P. Geo., B.Sc., of
InnovExplo Inc., of Val d'Or,
Quebec assumes responsibility for the Mineral Resource
Estimate. Mr. Pelletier is a qualified person and is
independent of both Barsele and joint venture partner Agnico Eagle
Mines Limited ("Agnico Eagle"), based on the requirements outlined
in National Instrument 43-101 and NI 43-101F1. Agnico Eagle is
not responsible for the Report.
The Report concludes that drilling to date along the
Avan–Central–Skiråsen gold zones at a 1.75 g/t gold cut-off has
outlined an Inferred Mineral Resource of 15,279,000 tonnes grading
2.91 g/t gold (1,427,000 ounces of contained gold) and an Indicated
Mineral Resource of 2,399,000 tonnes grading 2.50 g/t gold (193,000
ounces of contained gold).
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Inferred Mineral
Resource Estimate
(Underground
Resources)
|
|
|
Indicated Mineral
Resource Estimate
(Underground
Resources)
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|
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Gold
Cut-off
Grade
(g/t)
|
Tonnage
(metric)
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Gold
Grade
(g/t)
|
Contained
Ounces
|
|
Gold
Cut-off
Grade
(g/t)
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Tonnage
(metric)
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Gold
Grade
(g/t)
|
Contained
Ounces
|
|
4.00
|
2,113,000
|
6.04
|
410,000
|
|
4.00
|
155,000
|
5.28
|
26,000
|
|
3.00
|
4,180,000
|
4.74
|
637,000
|
|
3.00
|
420,000
|
4.09
|
55,000
|
|
2.00
|
11,396,000
|
3.26
|
1,194,000
|
|
2.00
|
1,637,000
|
2.80
|
147,000
|
|
1.90
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12,766,000
|
3.12
|
1,280,000
|
|
1.90
|
1,910,000
|
2.68
|
164,000
|
|
1.80
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14,405,000
|
2.97
|
1,377,000
|
|
1.80
|
2,220,000
|
2.56
|
183,000
|
|
1.75
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15,279,000
|
2.91
|
1,427,000
|
|
1.75
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2,399,000
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2.50
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193,000
|
|
1.70
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16,253,000
|
2.83
|
1,481,000
|
|
1.70
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2,605,000
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2.44
|
204,000
|
|
1.60
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18,389,000
|
2.70
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1,594,000
|
|
1.60
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3,097,000
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2.31
|
231,000
|
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1.50
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20,647,000
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2.57
|
1,707,000
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1.50
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3,718,000
|
2.19
|
261,000
|
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1.40
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23,136,000
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2.45
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1,823,000
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|
1.40
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4,510,000
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2.06
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298,000
|
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1.30
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25,884,000
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2.33
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1,942,000
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|
1.30
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5,356,000
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1.95
|
335,000
|
|
1.20
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28,862,000
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2.22
|
2,062,000
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|
1.20
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6,336,000
|
1.84
|
374,000
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Base case mineral resources highlighted in bold within
sensitivity analysis charts.
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Mineral Resource
Estimate Footnotes:
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|
1.
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The Independent
and Qualified Person for the Mineral Resource Estimate, as defined
by NI 43‑101, is Carl Pelletier, P.Geo., B.Sc, from InnovExplo
Inc., and the effective date of the Estimate is February 15,
2018.
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2.
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These mineral
resources are not mineral reserves as they do not have demonstrated
economic viability. While the results are presented undiluted and
in situ, the reported mineral resources are considered to have
reasonable prospects for economic
extraction.
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3.
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The entire mineral
resource is presented as Underground Potential. Underground mineral
resource estimation is reported at 1.75 g/t Au cut-off. The cut-off
calculation is based on the following assumptions: Mining cost =
US$45.00; Processing cost = US$15.00; General and Administration=
US$8.00; Refining and Selling Costs = US$10.00; Gold price:
US$1,300 (3-year trailing average); and Metallurgical Recovery =
92.6%. Cut-off grades will have to be re-evaluated in light of
future prevailing market conditions (metal prices, exchange rate
and mining cost,
etc.).
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4.
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For sensitivities
purposes, the mineral resources were also compiled at cut-off
grades of 1.20, 1.30, 1.40, 1.50, 1.60, 1.70, 1.75, 1.80, 1.90,
2.00, 3.00, and 4.00 g/t Au.
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5.
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The Mineral
Resources presented herein are categorized as Indicated and
Inferred. The Inferred category is only defined within the areas
where the drill spacing is less than 100m. The Indicated category
is only defined within the areas where the drill spacing is less
than 25m. Clipping boundaries were used to define classification
based on those criteria. The quantity and grade of reported
Inferred Mineral Resources in this Mineral Resource Estimate are
uncertain in nature and there has been insufficient exploration to
define these Inferred Mineral Resources as Indicated or Measured,
and it is uncertain if further exploration will result in upgrading
them to these categories.
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6.
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The resource was
estimated using Geovia GEMS 6.8. The estimate is based on 270
surface diamond drill holes (99,343m). With rare local exceptions
having no material impact on the resource, a minimum true thickness
of 2.0 m was applied, using the grade of the adjacent material when
assayed, or a value of zero when not assayed. The estimate includes
one (1) low-grade gold-bearing mineralized envelope encompassing 47
higher-grade gold-bearing zones.
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7.
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High grade capping
was done on composite data and established on a per corridor basis
for gold (Au g/t): Low Grade Mineralized envelope = 8; high-grade
gold bearing zones: Skirasen = 45; Central = 40; Avan = 15).
Capping grade selection is supported by statistical
analysis.
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8.
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Density values
were applied based on lithology. All mineral zones were attributed
2.73g/cm3.
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9.
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Grade model
compositing was done on drill hole intersections falling within the
mineralized zones (composite = 2.0 m with adjusted length from 1.0m
to 3.0m if needed).
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10.
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Grade model
resource estimation was evaluated from drill holes using an OK
interpolation method in a block model (block size = 10 x 3 x 5
m).
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11.
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Calculations used
metric units (metres, tonnes and g/t). Metal contents are presented
in troy ounces (metric tonne x grade / 31.10348).
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12.
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The number of
metric tonnes was rounded to the nearest thousand. Any
discrepancies in the totals are due to rounding effects; rounding
followed the recommendations in NI 43‑101.
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13.
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CIM definitions
and guidelines for mineral resources have been
followed.
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14.
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InnovExplo is not
aware of any known environmental, permitting, legal, title-related,
taxation, socio-political or marketing issues, or any other
relevant issue not reported in the Report, that could materially
affect the Mineral Resource Estimate.
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In addition to the Mineral Resource Estimate, the Report
discusses Exploration Potential. Following a detailed review of all
pertinent information, InnovExplo Inc., concluded that there are
several opportunities to add additional mineral resources by
drilling the depth extensions of the ore shoot that originates in
the resource area and the lateral extensions of the currently
identified zones. At this stage, it is reasonable to believe that
somewhere between 10 and 15 million tonnes at grades between 2.5
and 3.0 g/t gold may be added by drilling extensions of currently
defined mineralized zones. The reader should be cautioned that this
Exploration Target is not a mineral resource estimate and is
conceptual in nature. There has been insufficient exploration to
define this as a mineral resource, and it is uncertain if further
exploration will result in the Exploration Target being delineated
as a mineral resource.
The basis for the 10 to 15 million tonnage and the 2.5 to 3.0
g/t gold grade range for the target includes the following comments
from the Report.
"Three mineralized zones have been identified on the property
and are the subject of the Mineral Resource Estimate in the NI
43-101 Technical Report. Collectively, these three zones are open
vertically and have a sufficient footprint to potentially host
additional mineralization."
"It is assumed that these mineralized zones will have similar
width and continuity in their vertical extensions. This is
supported by the fact that the bulk of the current Mineral Resource
Estimate is found within the first 600 metres and some drill holes
encountered mineralization down to 850 metres. Drilling the gaps
between some of the zones is also considered in this
assumption."
"The grade range is considered reasonable based on the
current Mineral Resource Estimate."
The exploration program at Barsele is being operated by joint
venture partner 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.
For the Mineral Resource Estimate, the database used by
InnovExplo Inc., incorporated 690 drill holes. Only 270 drill holes
were used to produce this Independent Mineral Resource
Estimate. The remaining holes were not included for various
reasons (either no confidence in the drill hole collar location, or
drill hole orientation, or suspect analytical results, or the drill
holes were outside the coherent resource study area). These 270
drill holes represent a total of 99,342 metres of drilling that
took place at the Barsele Project from 1989 through October
2017. The deposit model has been created by Agnico Eagle and
that same wireframe model has been accepted as is by InnovExplo
Inc.
Various gold-grade capping parameters were applied to the
Avan–Central–Skiråsen gold zones respectively, with metal factor
reductions as follows (Avan-2.10%), (Central-0.21%),
(Skiråsen-2.55%).
A downhole composite length of 2.0 metres was selected.
Variography studies were carried out on the gold distribution
within the principal granodiorite gold host as well as within the
Avan–Central–Skiråsen gold zones. A three-pass interpolation
approach was used with a minimum of two drill holes being necessary
in each case.
In the high-grade domain, Indicated Mineral Resources are based
on a drill spacing of up to 25.0 meters and Inferred Mineral
Resources are based on a drill spacing of up to 100 meters. In the
low-grade domain, there are no Indicated Mineral Resources and
Inferred Mineral Resources are based on a drill spacing of up to
100 meters.
Toward the Mineral Resource classification, a gold price of
US$1,300.00 is used. Assigned
metallurgical recovery is 92.6 percent (based on preliminary
testing). Total underground mining costs are estimated at
US$45.00 per tonne. Total processing
costs are estimated at US$15.00 per
tonne. General and Administrative costs are estimated at
US$8.00 per tonne.
Specific Gravity (S.G.) varies with lithogeochemical units with
the average value from each unit being used. Assigned S.G.
depending on the rock type varies on average between 2.73 and 2.87,
with default mineral zones assigned a density of 2.73.
The independent qualified person for the Mineral Resource
Estimate is of the opinion that ongoing drilling will have a
positive impact on grade and tonnage distribution, upgrade parts of
the Inferred Mineral Resources into Indicated Mineral Resources and
potentially increase the overall Mineral Resource of the
project.
Much of the technical information in this news release was
discussed in preliminary terms during a visit to Val d'Or, Quebec in November 2017 and a visit to the project site in
December of 2017, by the Barsele Qualified Person. The data was
discussed with Agnico Eagle and InnovExplo Inc. resource personnel
in Val d'Or and with the site
management and technical staff in Sweden. The quality
control/quality assurance program at the Barsele Project is
described on our website at
http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.
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 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 meters to 500 meters 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
Gary Cope
President
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.
SOURCE Barsele Minerals Corp.
