Coring to be initiated late May or early
June
- Diamond drilling is budgeted for 3,000 metres (approximately 15
holes) and will test for Intrusive-hosted "Orogenic Gold" and
Volcanogenic Massive Sulphides.
- Drilling will commence near the Risberget Zone and will test
Orogenic Gold targets in the vicinity of previously intersected
gold mineralization, along the southeasterly extension of the
3.6-kilometre Avan–Central–Skiråsen gold trend.
- The Avan Zone, where high gold grades have been locally
encountered, is the second principal target where drill testing
will take place.
- Additionally, drill testing for Volcanogenic Massive Sulphide
mineralization will take place along the southeastward extension
from the Norra VMS Deposit.
VANCOUVER,
BC, May 3, 2023 /CNW/ - Barsele Minerals
Corp. (TSXV: BME) (the "Company" or
"Barsele") is pleased to provide an update regarding ongoing
exploration activities 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: AEM) (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 a pre-feasibility study is
completed.
Between January 1 and
April 30, 2023, data analysis, along with field-specific
exploration activities continued at a number of exploration sites
throughout the property. Work has included geophysical surveys,
base of till sampling and analysis, plus analysis of previously
collected MEFFA (multi-element fine fraction analysis) samples. The
MEFFA sample interpretation utilizes automated pXRF scanning,
together with laser ablation and ICP-MS, to define precious/base
metal anomalous areas. All this work has been carried out in
preparation for this year's diamond drilling campaign.
Structural, stratigraphic and lithological
observations continue to evolve, with the objective to define both
precious and base metals trends and targets. Studies related to
gold occurrences associated with certain elements, minerals and
alteration phases have been on-going to support targeting.
Diamond drilling since 2015, within the
34,533-hectare property totals 162,691 metres of overburden
penetration and core collection from a total of 436 drill holes.
One drill rig has been retained to carry out the 2023 diamond
drilling campaign.
To view the drilling target location map, please
refer to: https://barseleminerals.com/project/photos/
Barsele's President, Gary Cope states; "The ongoing detailed surface
mapping, sampling and geophysical surveys have outlined a number of
exciting targets for both gold and massive sulphide mineralization.
I am optimistic there will be assay results that will satisfy our
shareholders."
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, that intersects with the "Gold Line" in Northern Sweden. Both polymetallic "VMS"
deposits and intrusive hosted "Orogenic gold" deposits are present
in this region and on this property. Current and past producers in
the region include Boliden, Kristineberg, Bjorkdal, Svartliden and
Storliden.
On February 21,
2019 (the effective date), Barsele released an independently
verified Mineral Resource Estimate that was completed by
Quebec-based InnovExplo Inc., for
the purposes of the Company. This NI 43-101 Technical Report and
Mineral Resource Estimate (Amended) for the Barsele Property was
modified and resubmitted effective December
16, 2020. The Amended Technical Report contains no material
differences to the original technical report filed on April 2, 2019.
The study concluded that drilling to the end of
2018 along the Avan–Central–Skiråsen gold zones at a 0.50 g/t gold
cut-off for a pit constrained extraction mining method, a 1.50 g/t
gold cut-off for a bulk underground extraction mining method, and a
1.80 g/t cut-off for a selective underground extraction mining
method, has in combination, outlined an Inferred Mineral Resource
of 25,495,000 tonnes grading 2.54 g/t gold (2,086,000 ounces of
contained gold) and an Indicated Mineral Resource of 5,578,000
tonnes grading 1.81 g/t gold (324,000 ounces of contained
gold).
The main gold-bearing system remains open in all
directions. The structurally linked gold mineralized "lodes" occur
mainly within a granodiorite host and to a lesser extent, volcanic
and sedimentary rocks. Multiple parallel to sub-parallel "lodes"
that vary in width from 10 metres to 100 metres, combine for a
maximum known thickness (including low grade-waste islands) of 425
metres. The Avan–Central–Skiråsen zones have a strike length
approaching 3.6 kilometres and that same northwest trending
structural corridor contains localized bodies with gold
mineralization over an additional 4.4 kilometres. The drill tested
depth of the mineralized system approaches 1.0 kilometre and
remains open. Gold is generally associated with arsenopyrite and
low base metal content and 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.
A NI 43-101 Technical Report on the Barsele
Project with an effective date of February
21, 2019, was filed on SEDAR on April
2, 2019. This NI 43-101 Technical Report and Mineral
Resource Estimate (Amended) for the Barsele Property was modified
and filed on SEDAR on December 16,
2020.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
This News Release contains 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.
View original
content:https://www.prnewswire.com/news-releases/barsele-announces-plans-for-resumption-of-diamond-drilling-activities-in-2023-301814730.html
SOURCE Barsele Minerals Corp.
