Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) has filed a technical report regarding the Sergeevskoe gold project, Russia (the “Sergeevskoe Report”) to support the indirect acquisition of the initial 30% of the Sergeevskoe project as announced on September 21, 2016 and January 13, 2017. The Sergeevskoe Report was authored by Phil Newall of Wardell Armstrong International Ltd. (“WAI”) an independent Qualified Person as defined by NI 43-101.
The highlights of the Sergeevskoe Report include:
- The major ore-controlling faults at Kluchevskoye pass westwards into the Sergeevskoe license and it is quite clear that the mineralising structures that were mined at Kluchevskoye are continuous to a greater or lesser extent into the Sergeevskoe area.
- In total, and to varying degrees of study, more than 10 gold occurrences and numerous mineralized points for gold, molybdenum and copper have been identified at the Sergeevskoe property. Numerous geochemical anomalies of Au, Cu and Mo were also delineated in the area.
- Orsu has possession of a highly attractive exploration license containing many of the structural, mineralogical and lithological controls as are seen at Kluchevskoye, but with the added advantage of a number of drill-ready targets. It is likely that some of these will be mineralised extensions from ore zones mined at the western end of the Kluchevskoye pit whilst others might represent faulted continuations of the same Kluchevskoye system. Either way, the magnitude of the Kluchevskoye body should not be underestimated and as such, Sergeevskoe presents an excellent opportunity to develop near surface oxide mineralization with the possibility of deeper primary mineralisation development.
- Furthermore, WAI believes that the budgeted work programmes put forward by Orsu are both practical and prudent and will greatly enhance the understanding of this exciting area.
The Sergeevskoe Report titled “NI 43-101 Technical Report for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation” is dated March 10, 2017 with an effective date of November 18, 2016, is filed on the Company’s profile on www.sedar.com. The pending acquisition of the Sergeevskoe project remains subject to Exchange approval.
This release has been reviewed and approved by Phil Newall, BSc (ARSM), PhD (ACSM), CEng, FIMMM, an employee of Wardell Armstrong and the author of the Sergeevskoe Report, who is a Qualified Person as defined by NI 43-101. This release has also been reviewed and approved for the Company by Alexander Yakubchuk, Chief Operating Officer of the Company, also a Qualified Person as defined in NI 43-101.
Neither the 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.
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the receipt of, and the timing of, the balance of the USD 7,650,000 proceeds from the sale of Karchiga. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
For further information, please contact:
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
Tel: +1-604-536-2711 ext 6