Barsele Minerals Corp (CVE:BME) has unveiled further encouraging findings from its Barsele project in Sweden, including metallurgical results, which show gold could be recovered at around 92%.
Recent drill results have also underlined the project's potential.
READ THE BIG PIC - Barsele Minerals Corp bringing it on in Sweden
READ - Barsele Minerals continues to be encouraged by Swedish project drilling
Joint venture partner Agnico Eagle owns 55% of the project, and is carrying out the exploration program, while Barsele has 45%. Agnico can earn a further 15% by completing a prefeasibility study.
During August, four diamond drills were turning in the Avan and Central zones, with one regional drill focused on the new Risberget gold target, to the east-southeast of the Skirasen zone.
One hole, which lies 3.7km east-southeast of the Skirasen zone, has to date yielded four significant gold intercepts with multiple free gold occurrences.
The best intercept to date is 15.3m core length, grading 1.87 grams per tonne (g/t) gold at a midpoint depth of 180 metres below surface. There are still assays pending from this hole.
Another yielded 35 metre core length at a grade of 2.33 g/t gold uncut (1.72 g/t gold cut) at a midpoint depth of 535 metres below surface.
"The metallurgical test results are very positive for the future of Barsele," said the mining group's president Gary Cope.
"In addition, the multiple gold intercepts in the 3.7-kilometre step out hole at Risberget add a significant potential extension to this large gold system. We also look forward to the new geological and structural conclusions derived from the trenching program at the Central zone."
Barsele's main property is the Barsele gold project in Vasterbottens Lan, Sweden. An updated NI 43-101 technical report is expected to be released towards the end of the first quarter 2018.
Barsele shares went 3.38% higher in Toronto to C$0.63.