Barsele Minerals Corp (CVE:BME) has reported further encouraging results from exploration at its flagship gold - VMS project in Sweden, where assays included 176m at 2.43 g/t (grams per ton) of the yellow metal.
Notably, the firm reported that new claims totaling 15,651 hectares have now been added to expand the project area.
In February this year, drilling continued with two diamond rigs turning and 2,598.9 meters were drilled.
One VMS-hole and six regional exploration holes were completed. Base of till testing is ongoing.
At the Skirasen Zone, highlight assays included one hole, which hit gold that averaged 2.43 g/t gold uncut (1.86 g/t gold cut) along a length of 176 metres.
Within this hole, there were seven mineralized intervals with highlight intercepts of 37 metres core length (estimated 14.7 metres true thickness) grading 2.48 g/t (grams per ton) gold at a midpoint depth of 250 metres below surface and 87 metres core length.
Meanwhile, at the Norra VMS Zone, another hole did not yield any significant intercepts, although occurrences of sphalerite (zinc) and chalcopyrite (copper) were noted in the logs.
Base of till sample results from Skirliden along the eastern boundary of Lake Skirtrasket indicates a NW-SE (north west- south east) trending gold, silver, zinc, copper, moly, antimony anomaly that will be drill tested in 2018.
Barsele president Gary Cope also said that new claims added now extend the overall project claim holdings by 50%.
Shares surged Monday over 11% to C$0.87 in Toronto.