The large project is being explored by joint venture partner Agnico Eagle Mines (TSE:AEML, NYSE:AEM), which is operator.
The project is owned 55% by Agnico Eagle and 45% Barsele.
"The biggest part of the joint venture in regards to Barsele is that we have no capital outlay," Cope said in a CEO video clip.
"We are carried by Agnico Eagle to pre-feasibility before we have to put out any money and we think that's a year and a half to two years away at minimum."
"What's on the horizon for Barsele is a lot more drilling. Agnico has found new areas that need drilling," he added.
One is 3 or 4 km south of the known zones as well as infill drilling on the main 3kn zone, he explained.
Last month the firm unveiled a new mineral resource estimate at Barsele.
The mining firm has outlined a lower confidence inferred resource of 15.279mln tonnes at a grade of 2.91 g/t (grams per ton) gold, with 1.427mln ounces of contained gold, and a higher confidence indicated resource of 2.399mln tonnes at a grade of 2.50 g/t gold, with 193,000 ounces of contained gold.
The study uses drilling results to date along the Avan-Central-Skirasen gold zones and a 1.75 g/t gold cut-off, the firm said.