viewBarsele Minerals Corp.

Barsele Minerals says drilling extends Skirasen mineralization

Five holes were completed during the month of March, of which three were expansion and two were infill.

With winter long gone, Agnico is cracking on with the drilling program

Barsele Minerals Corp (CVE:BME) said 47 out of 500 planned base of till (BOT) holes were completed by month end at the Barsele project.

During the month of March, three diamond drilling machines were focused on expansion drilling between the Central and Avan zones of the Barsele gold-volcanogenic-massive-sulphide project area in Vasterbottens Lan, northern Sweden.

There are plans to mobilize a fourth drill in May, with the fifth machine expected to arrive in early June.

The exploration program is being operated by joint venture partner Agnico Eagle Mines Ltd (TSE:AEM, NYSE:AEM). Agnico Eagle is the senior partner in the joint venture with a 55% stake that could rise to 70% upon completion of a pre-feasibility study.

Barsele reported infill hole SKI17004 yielded seven significant intercepts, including 13.1 metres core length (estimated 7.0 metres true thickness) grading 3.12 grams per tonne (g/t) gold uncut (2.75 g/t gold cut) at a midpoint depth of 255 metres below surface, plus 21.0 metres core length (estimated 12.0 metres true thickness) grading 2.65 g/t gold at a midpoint depth of 405 meters below surface.

Hole SKI17005 yielded nine significant intercepts with a best hit of 23.0 metres core length (estimated 17.0 metres true thickness) grading 1.85 g/t gold at a midpoint depth of 390 metres below surface.

Hole SKI17006 yielded a best hit of 4.45 metres core length (estimated 3.2 metres true thickness) grading 5.86 g/t gold at a midpoint depth of 265 metres below surface, while SKI17007 yielded a high-grade interval of 1.1 metres core length (estimated 0.5 metres true thickness) grading 101.70 g/t gold uncut (11.42 g/t gold cut) at a depth of 260 metres below surface.

"Hole SKI16002 was re-entered and extended and has delivered the deepest vertical gold hit of 695 metres vertically below surface,” revealed Gary Cope, Barsele's president.

“The entire mineralized system remains open along strike and at depth. We look forward to a total of five drills coring by early June," he added.

Quick facts: Barsele Minerals Corp.

Price: 0.55 CAD

Market: TSX-V
Market Cap: $67.61 m

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