- Diamond drilling is budgeted for 3,000 metres (estimated 15
holes) and will test for Intrusive-hosted "Orogenic Gold" and
Volcanogenic Massive Sulphides.
- Drilling will commence near the Risberget Zone and will test
Orogenic Gold targets in the vicinity of previously intersected
gold mineralization, along the southeasterly extension of the
3.6-kilometre Avan–Central–Skiråsen gold trend.
- The Avan Zone, where high gold grades have been locally
encountered, is the second principal target where drill testing
will take place.
- Additionally, drill testing for Volcanogenic Massive Sulphide
mineralization will take place along the southeastward extension
from the Norra VMS Deposit.
VANCOUVER, BC, June 15,
2023 /CNW/ - Barsele Minerals Corp.
(TSXV: BME) (the "Company" or "Barsele") is
pleased to provide an update regarding ongoing exploration
activities within the Barsele Gold-VMS Project area in
Västerbottens Län, Northern Sweden
(the "Barsele Project"). The exploration program is being
operated by joint venture partner Agnico Eagle Mines Limited
– (TSX, NYSE: AEM) ("Agnico Eagle"). Ownership in the
Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle
can earn an additional 15% in the Barsele Project through the
completion of a pre-feasibility study. There is no cash outlay
requirement by Barsele until a pre-feasibility study is
completed.
Between January 1 and May 30,
2023, data analysis, along with field-specific exploration
activities continued at a number of exploration sites throughout
the property. Work has included geophysical surveys, base of till
sampling and analysis, plus analysis of previously collected MEFFA
(multi-element fine fraction analysis) samples. The MEFFA sample
interpretation utilizes automated pXRF scanning, together with
laser ablation and ICP-MS, to define precious/base metal anomalous
areas. All this work has been carried out in preparation for this
year's diamond drilling campaign.
Structural, stratigraphic, and lithological observations
continue to evolve, with the objective to define both precious and
base metals trends and targets. Studies related to gold occurrences
associated with certain elements, minerals and alteration phases
have been on-going to support targeting.
Diamond drilling since 2015, within the 34,533-hectare property
totals 162,691 metres of overburden penetration and core collection
from a total of 436 drill holes. One drill rig has been retained to
carry out the 2023 diamond drilling campaign.
Barsele's President, Gary Cope
states; "I am very pleased that the 2023 diamond drilling is
underway and I along with our shareholders look forward to
receiving the results from testing at Risberget, Avan and
Norra."
About the Barsele Gold
Project
The Barsele Project is located on the western end of the
Proterozoic "Skellefte Trend", a prolific volcanogenic massive
sulphide deposits belt, that intersects with the "Gold Line" in
Northern Sweden. Both polymetallic
"VMS" deposits and intrusive hosted "Orogenic gold" deposits are
present in this region and on this property. Current and past
producers in the region include Boliden, Kristineberg, Bjorkdal,
Svartliden and Storliden.
On February 21st, 2019
(the effective date), Barsele released an independently verified
Mineral Resource Estimate that was completed by Quebec-based InnovExplo Inc., for the purposes
of the Company. This NI 43-101 Technical Report and Mineral
Resource Estimate (Amended) for the Barsele Property was modified
and resubmitted effective December
16th, 2020. The Amended Technical Report contains
no material differences to the original technical report filed on
April 2, 2019.
The study concluded that drilling to the end of 2018 along the
Avan–Central–Skiråsen gold zones at a 0.50 g/t gold cut-off for a
pit constrained extraction mining method, a 1.50 g/t gold cut-off
for a bulk underground extraction mining method, and a 1.80 g/t
cut-off for a selective underground extraction mining method, has
in combination, outlined an Inferred Mineral Resource of 25,495,000
tonnes grading 2.54 g/t gold (2,086,000 ounces of contained gold)
and an Indicated Mineral Resource of 5,578,000 tonnes grading 1.81
g/t gold (324,000 ounces of contained gold).
The main gold-bearing system remains open in all directions. The
structurally linked gold mineralized "lodes" occur mainly within a
granodiorite host and to a lesser extent, volcanic and sedimentary
rocks. Multiple parallel to sub-parallel "lodes" that vary in width
from 10 metres to 100 metres, combine for a maximum known thickness
(including low grade-waste islands) of 425 metres. The
Avan–Central–Skiråsen zones have a strike length approaching 3.6
kilometres and that same northwest trending structural corridor
contains localized bodies with gold mineralization over an
additional 4.4 kilometres. The drill tested depth of the
mineralized system approaches 1.0 kilometre and remains open. Gold
is generally associated with arsenopyrite and low base metal
content and also occurs as native metal.
Art Freeze, P.Geo. is the
Qualified Person as defined in NI 43-101 and takes
responsibility for the technical disclosure contained within this
news release.
About Barsele Minerals Corp.
Barsele is a Canadian-based junior exploration company managed
by the Belcarra Group, comprised of highly qualified mining
professionals. Barsele's main property is the Barsele Gold Project
in Västerbottens Län, Sweden, a
joint venture with Agnico Eagle.
A NI 43-101 Technical Report on the Barsele Project with an
effective date of February
21st, 2019, was filed on SEDAR on April 2nd, 2019. This NI 43-101
Technical Report and Mineral Resource Estimate (Amended) for the
Barsele Property was modified and filed on SEDAR on December 16, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
This News Release contains forward-looking statements, including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements and Barsele undertakes no obligation to update such
statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Barsele Minerals Corp.