HALIFAX, NOVA SCOTIA - September 24,
2013 - Oceanus Resources Corporation
(TSXV:OCN) ("Oceanus" or the "Company") is pleased to
announce that diamond drilling has intersected high-grade gold and
silver mineralization at both the Santo Nino and Dos Hermanos
gold-silver prospects located on the La Lajita property in Durango,
Mexico. Highlighted assay results include the following;
-7.1 g/t gold and 48.8 g/t silver over a core
length of 20.0 meters, including 18.9 g/t gold and 71.3 g/t silver
over a core length of 6.5 meters in diamond drill hole
OCN-13-005 located at the Santo Nino prospect.
-10.2 g/t gold and 143.0 g/t silver over a
core length of 1.7 meters in diamond drill hole
OCN-13-002 located at the Dos Hermanos prospect.
Mr. Richard Gordon, President and
CEO of Oceanus, commented:
"We are extremely pleased to have intersected
two high-grade clavos in our first pass of diamond drilling and
believe there are more to be found. The clavos located in the Upper
Volcanic Series are open along strike and down dip and we are in
the planning stages to drill test the extensions, targeting where
they would intersect the andesitic rocks of the Lower Volcanic
Series. The majority of the large multi-million ounce gold and
silver deposits in the Sierra Madre, including Ocampo, Pinos Altos
and Tayoltita occur at the contact between the Upper and Lower
Volcanic Series".
Significant drill
intersections are reported below.
--------------------------------------------------------------------------
|2013 La Lajita Diamond Drill Hole Intersections |
|------------------------------------------------------------------------|
|Target |DDH # |Comment |From |To |Length* |Au |Ag |EqAu50** |
| | | |(m) |(m) |(m) |(g/t)|(g/t)|(g/t) |
|------------------------------------------------------------------------|
|Dos |OCN-13-001| |47.3 |57.4 |10.1 |1.82 |70.7 |3.23 |
|Hermanos| | | | | | | | |
|------------------------------------------------------------------------|
| | |including|49.4 |56.3 |6.9 |2.59 |94.1 |4.47 |
|------------------------------------------------------------------------|
|Dos |OCN-13-002| |49.6 |64.0 |14.4 |1.70 |62.9 |2.96 |
|Hermanos| | | | | | | | |
|------------------------------------------------------------------------|
| | |including|51.6 |53.3 |1.7 |10.17|143.0|13.03 |
|------------------------------------------------------------------------|
|Dos |OCN-13-003| |65.6 |92.6 |27.0 |0.48 |22.7 |0.94 |
|Hermanos| | | | | | | | |
|------------------------------------------------------------------------|
| | |including|66.3 |69.3 |3.0 |2.58 |46.8 |3.52 |
|------------------------------------------------------------------------|
|Santo |OCN-13-004| |57.8 |76.5 |18.8 |0.58 |10.3 |0.78 |
|Nino | | | | | | | | |
|------------------------------------------------------------------------|
| | |including|57.8 |59.5 |1.8 |3.29 |25.9 |3.81 |
|------------------------------------------------------------------------|
|Santo |OCN-13-005| |66.6 |86.6 |20.0 |7.09 |48.8 |8.07 |
|Nino | | | | | | | | |
|------------------------------------------------------------------------|
| | |including|70.6 |77.1 |6.5 |18.87|71.3 |20.30 |
|------------------------------------------------------------------------|
|Dos |OCN-13-007| |246.1|247.8|1.7 |3.98 |97.7 |5.93 |
|Hermanos| | | | | | | | |
--------------------------------------------------------------------------
* Not reported as true thickness
** EqAu50** = Ag grade/50 +
Au grade
2013 Drill
Program
The recent diamond drill
program consisted of seven holes totaling 938 meters of HQ and NQ
core drilled to test the down dip extensions of the gold-silver
mineralization exposed in surface trenches and shallow workings at
two of the seven know gold-silver prospects; Dos
Hermanos and Santo Nino. The drilling confirmed at
both prospects, the fault breccia dips to the southwest at 50
degrees from the exposures on surface and continues to
depth.
Epithermal, low sulphidation
gold and silver associated with hematite and silica alteration is
hosted along the NNW-SSW trending La Lajita fault/breccia structure
that cuts tuffs and ignimbrites of the Upper Volcanic Series and
has been traced along surface for over two kilometers (see Oceanus
press release dated August 22, 2013). Mapping and channel sampling
of the surface exposures and underground workings at both prospects
has confirmed the relationship between high grade gold and silver
mineralization associated with green quartz veins along the hanging
wall side of the fault breccia.
The Santo Nino prospect is
located approximately 600 meters north along strike from the Dos
Hermanos prospect along the La Lajita fault. Four (4) holes were
drilled at the Dos Hermanos prospect and three (3) at the Santo
Nino prospect. Visible gold was observed in drill holes OCN-13-002
at Dos Hermanos and OCN-13-005 at Santo Nino. Drill hole OCN-13-006
was abandoned due to difficult ground conditions at a depth of 93 m
at Santo Nino and did not reach the mineralization.
The final hole of the program
(OCN-13-007) was drilled to test the down dip extension of the Dos
Hermanos zone at a true depth of 150m. The hole successfully
pierced the mineralized fault breccia and will assist in the
planning to drill test the clavos where it should pass into the
andesitic rocks of the Lower Volcanic Series.
La Lajita
Property
The La Lajita Property
comprises 12 mining concessions held under option
located in the south-west corner of Durango State, Mexico, along
the western flanks of the Sierra Madre Occidental. This area is
recognized as an extremely prospective mineral belt for gold and
silver deposits. Furthermore, this area is a virgin district having
never been discovered or worked by the Spanish and there are no
historic mining records. There are numerous pits, adits and small
shafts that have been developed by local gambusinos during the
1900's and artisanal mining in the area continues to this
day.
Detailed geological mapping
and channel sampling program completed by Oceanus has confirmed the
presence of seven (7) gold-silver prospects along the La Lajita
fault system which has been traced along surface for over two
kilometers. These prospects from north to south are; La Fortuna,
Esperanza, Santo Nino, Dos Hermanos, Mina la Guadalupe, Las Ratones
and the Cerro del Sol.
Lab Preparation
and Assay
Oceanus samples are
prepared and assayed by Activation Laboratories Ltd.
("Actlabs"). Actlabs is a CAN-P-1579, CAN-P-4E (ISO/IEC 17025:2005)
accredited laboratory and independent of Oceanus. The sealed and
tagged sample bags are turned over to ActLabs personnel at the site
who transport them to the ActLabs facility in Zacatecas, Mexico.
ActLabs crushes the samples and prepares 200-300 gram pulp samples
with ninety percent of the pulp passing Tyler 150 mesh
(106?m).
The pulps are
assayed for gold/silver using a 50 g charge by fire
assay (Codes 1A2-50) and over limits greater than 3 g/t are
re-assayed using a gravimetric finish (Code 1A3-50). Copper, lead,
zinc and other element analysis is completed using the total
digestion ICP-41 (Code IF2) for all the other elements.
Quality
Assurance/Quality Control and Data Verification
Quality assurance and quality
control procedures include the systematic insertion of blanks,
standards and duplicates into the sample strings. The
results of the assaying of the QA/QC material included in each
batch are tracked to ensure the integrity of the assay
data. All results stated in this announcement have
passed Oceanus's quality assurance and quality control ("QA/QC")
protocols.
David R. Duncan, P. Geo., a
director of the Company, is the Qualified Person for Oceanus as
defined under National Instrument 43-101. Mr. Duncan has reviewed
the scientific and technical information in this press
release.
About Oceanus
Resources Corporation
Oceanus Resources Corporation
is a well-financed gold exploration and development company run by
a team of mining professionals with international experience
in discovering open pit gold mines. Oceanus is exploring the
3200 km2 La Lajita Property located in
the Sierra Madre Mountains of Durango, Mexico. Epithermal,
low-sulphidation gold and silver mineralization associated with
considerable hematite and silica alteration is hosted along NW-SE
trending fault/breccia structures that have been traced over a
strike length of 2 km and to known depths of 150 meters. The
mineralization is exposed on surface in numerous small scale
"gambusino" workings and in underground workings at the Mina la
Guadalupe deposit.
For further information:
Richard Gordon, President, Oceanus Resources Inc., T:
902 441-6700
F: 902 446-2001
CAUTIONARY STATEMENT:
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.
This News Release includes certain
"forward-looking statements". All statements other than statements
of historical fact, included in this release, including, without
limitation, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives of
Oceanus, are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from Oceanus's expectations are exploration risks
detailed herein and from time to time in the filings made by
Oceanus with securities regulators.
(Not for
distribution to US wire services or for dissemination in the United
States of America)
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