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Barsele Minerals JV increases 2016 exploration budget

Thursday, October 27, 2016 12:17
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Barsele Minerals Corp. (CVE:BME) has provided a further operational progress update for the current exploration programme within the Barsele gold-VMS (volcanogenic massive sulphide) project area in Vasterbottens Lan, northern Sweden.

The exploration programme is being operated by joint venture partner Agnico Eagle Mines Ltd. Ownership in the project is 55% Agnico Eagle and 45% Barsele.

Phase 2 drilling continues, with three diamond drills and one BOT (base of till) machine, testing for both gold and VMS targets. Thirteen holes totalling 2,625 metres were completed during the month of August: CNT16-002 to CNT16-005, AVA16-008 to AVA16-010 and KOH16-001 to KOH16-006. Two additional validation holes CNT16-006 and CNT16-012 were drilled in September and are reported in this release.

Drill holes CNT16-001 and CNT16-002 were designed to test the northwestern extension of the Central zone toward the Avan zone. These holes successfully extended the mineralized corridor approximately 175 metres to the northwest and to depths varying between 270 and 460 metres below surface.

The highlight result from CNT16-001 is 27 metres core length (estimated 20.3 metres true thickness) grading 1.8 g/t (grams per tonne) gold. Hole CNT16-002 returned 134 metres core length (estimated 100.5 metres true thickness) grading 1.11 g/t gold, including 39 metres core length (estimated 29.3 metres true thickness) grading 2.41 g/t gold. Base-of-hole analytical results are pending.

Results from holes CNT16-001 and CNT16-002 are considered to be highly significant as they extend the Central zone toward the previously noted area of improving ground preparation, and alteration and mineralization at depth at Avan.

Holes CNT16-003, CNT16-004, CNT16-006 and CNT16-012 were designed to validate drill results from pre-existing holes in the Central zone. CNT16-003 yielded 26 metres core length (estimated 19.5 metres true thickness) grading 1.78 g/t gold, plus 10.5 metres core length (estimated 7.9 metres true thickness) grading 10.99 g/t gold uncut (1.55 g/t gold cut).

Hole CNT16-004 returned 55 metres core length (estimated 41.3 metres true thickness) grading 1.27 g/t gold. Hole CNT16-006 yielded 126 metres core length (estimated 94.5 metres true thickness) grading 1.66 g/t gold uncut (1.59 g/t gold cut).

Hole CNT16-012 returned 148.6 metres core length (estimated 111.5 metres true thickness) grading 1.38 g/t gold uncut (1.19 g/t gold cut), including 20 metres core length (estimated 15 metres true thickness) grading 4.72 g/t gold uncut (3.34 g/t gold cut).

“The northwest extension drilling at Central has yielded two highly significant intervals of good-grade rock in holes CNT16-001 and CNT16-002. We are optimistic that Agnico Eagle will establish continuity between the Central and Avan zones. We are also encouraged with the first drill result from the Kohobben VMS target area,” said Barsele’s president, Gary Cope.

In 2016, Agnico Eagle plans to spend approximately $7.5-million (U.S.) on exploration to further evaluate the mineral potential on the property. This work will include expansion drilling, validation drilling, regional drilling and BOT drilling, all of which is continuing. Planned drill metreage has increased from 19,000 to 36,000 metres. In addition, environmental baseline studies (water chemistry, biota in water, nature inventory) are also continuing.

Story by ProactiveInvestors


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