logo-loader
viewBarsele Minerals Corp.

Barsele JV drills six metres of 33.46 g/t gold at Barsele

Barsele Minerals Corp has drilled six metres yielding 33.46 g/t of gold, as it provided its eighth operational progress update for the current exploration program within the Barsele gold-VMS (volcanogenic massive sulphide) project area in Vasterbottens Lan, northern Sweden

Sweden-sunset-1807724_1920_587e767184e1c.jpg
Provides its eighth operational progress update

Barsele Minerals Corp (CVE:BME) has drilled six metres yielding 33.46 g/t of gold, as it provided its eighth operational progress update for the current exploration program within the Barsele gold-VMS (volcanogenic massive sulphide) project area in Vasterbottens Lan, northern Sweden on Tuesday.

The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited - (TSE:AEM, NYSE:AEM). Ownership in the project is 55% Agnico Eagle and 45% Barsele.

During November, diamond drilling with four machines were focused within and along the trend of the Avan, Central and Skirasen zones, where validation, conversion and expansion drilling has taken place.

The highlight conversion hole SKI16010 yielded 6.00 meters core length (estimated 4.0 meters true thickness) grading 33.46 g/t gold uncut (6.33 g/t gold cut) at a depth of 180 meters below surface, plus 178.00 meters core length (estimated 125.00 meters true thickness) grading 1.68 g/t gold uncut (1.51 g/t gold cut) at a midpoint depth of 320 meters below surface.

In addition, expansion hole CNT16017 yielded 31.00 meters core length (estimated 23.30 meters true thickness) grading 2.65 g/t gold uncut (2.60 g/t gold cut) at a midpoint of 410 meters below surface. This last intercept expands the known Central Zone by 175 meters towards the Avan Zone.

Twelve holes were completed during the month of November of which five were validation holes and seven were conversion holes that verify continuity of mineralization. During November, 4,935 meters was drilled, for a cumulative 2016 total of 30,432 meters in 79 holes. During November, there were 6,218 samples sent for analysis, with 8,014 assay results received. Basal till sampling results are yet to be received.

"We continue to receive positive results in validation, conversion and expansion drilling at Barsele and we remain confident in Agnico Eagle's deposit development methodology. The 178-meter hole in the Skirasen Zone is very supportive of continuity in this sector of the deposit," said Barsele's President, Gary Cope.

Drilling continued until December 21, at which time there was a break until planned resumption in the new year.

As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the project area. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing. Barsele expects that Agnico Eagle will release a new mineral resource estimate for the Avan, Central, Skirasen and Norra deposits in mid-February 2017.

Quick facts: Barsele Minerals Corp.

Price: 0.53 CAD

TSX-V:BME
Market: TSX-V
Market Cap: $64.94 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Things coming together nicely in Greenland, says Bluejay Mining's CEO

Rod McIllree, Bluejay Mining PLC’s (LON:JAY) chief executive, tells Proactive that all three of its projects in Greenland are shaping up nicely with plenty of interest from mining giants. Dundas is the flagship and here a bulk sample of mineral sands has been shipped to a Rio Tinto facility...

12 hours, 30 minutes ago

2 min read