Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is pleased to announce additional encouraging drill results at the Klyuchi West Zone of its Sergeevskoe Gold Project in Russia.
- The footprint width of gold-mineralized stockwork at Klyuchi West is now drill-confirmed to reach 250 m.
- Hole SDH17-13 intercepted:
- 0.58 g/t Au over 6.3 m from 9.3 m,
- 2.05 g/t Au over 12.5 m from 17.75 m (including 3.15 g/t Au over 6.15 m),
- 0.77 g/t Au over 15.35 m from 35.3 m,
- 1.2 g/t Au over 21.45 m from 82.9 m,
- 2.34 g/t Au over 2.15 m from 139.4 m,
- 1.48 g/t Au over 4.35 m from 156.0 m.
- Hole SDH17-14 intercepted:
- 1.16 g/t Au over 7.75 m from 73.65 m (including 5.23 g/t Au over 0.85 m),
- 0.76 g/t Au over 17.35 m from 143.3 m,
- 1.05 g/t Au over 5.4 m from 177.8 m.
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “Drillhole SDH17-13 intercepted new mineralized intervals, not hitherto known from historical or surface trenching data at the Klyuchi West zone. Together with previously reported drillholes, SDH17-3 and SDH17-7, and trenches, S10ZTR17-15 and S10ZTR17-16, the newly reported results identified an approximately 250-m-wide stockwork, extending in northwestern direction to the Klyuchi West from adjacent Klyuchevskoe gold license. Although there are still gaps in data, this more than doubles the width of the mineralized stockwork, identified in the previously reported drillholes SDH17-3 and SDH17-7. Drillhole SDH17-14, drilled in parallel section some 60 m northwest from SDH17-13, demonstrated that gold-mineralized stockwork further extends to the northwest and mineralization remains open downdip, as well as across and along the strike.”
The license of the Sergeevskoe Gold Project occurs east from the Alexandrovskoe open pit and gold plant owned by Zapadnaya Gold Mining Ltd and immediately to the west from the Klyuchevskoe gold license owned by Sun Gold Mining (Figure 1). The Klyuchevskoe (Klyuchi) gold deposit represents a +6 Moz gold endowment (see Orsu press-release dated September 21, 2016). Orsu owns a 90% interest in the Sergeevskoe Gold Project (see press release dated November 6, 2017).
Figure 1. An outline of the 7.6 sq km Sergeevskoe license area with location of principal gold prospects and two adjacent gold open pits.
The Phase 2, diamond drill program, comprising 1,921.50 metres was completed on December 24, 2017, focussed on testing four target areas:
|1.||Kozie||521.50 metres - pending|
|2.||Peak Klyuchi||260.10 metres - pending|
|3.||Klyuchi West||414.40 metres - reported below|
|4.||Zone 23||736.10 metres – 1 of four holes reported January 22, 2018|
At Klyuchi West, the Company previously reported encouraging intercepts in drillholes SDH17-3 and SDH17-7, as well as in surface trenches (see press release November 13, 2017). Additional Phase 2 works consisted of two drillholes SDH17-13 and SDH17-14, totaling 414.4 m. In contrast to the previously reported drillholes, new drillholes were drilled in the opposite direction to the northeast aiming to constrain the orientation of the already identified gold-mineralized stockwork and to test the potential presence of additional mineralized zones.
The mineralization at Klyuchi West is limited in the south along the Shirotnyi fault (Figure 2), extending from the Klyuchevskoe open pit. The mineralization is interpreted as a direct continuation of the stockwork shoots, extending from the Klyuchevskoe open pit.
The mineralization is hosted by the Permian granite intrusion, which is intruded to the west by the Jurassic granodiorite porphyry stock and Mesozoic dioritic and hybrid porphyry dykes. The stockwork consists of quartz-tourmaline-sulfide veins and veinlets, striking to the northwest, often in parallel orientation with the dykes, as can be constrained by Orsu trenches and drillholes.
Figure 2. The surface expression of multiple northwest-trending gold-mineralized intervals at Klyuchi West, Sergeevskoe Gold Project constrained by historical and Orsu trench data.
Selection of mineralized intervals, presented below, is based on a 0.5 g/t Au cut-off for compositing, with maximum 2 m length of 0.3-0.5 g/t Au mineralization included into mineralized interval. Composited intervals in drillholes are presented uncapped.
Orsu received assays for the drillholes SDH17-13 (200 m) and SDH17-14 (214.4 m) (Table 1). Both holes were drilled to the northeast at 60 to 70 degrees in opposite direction to the drillhole SDH17-3 and historical hole C-220, for which Orsu has no logging and assay information except survey data and textual description in the historical reports. SDH17-13 intercepted multiple mineralized intervals, corresponding to quartz-tourmaline veins and hydrothermal breccia, some of which correspond to those intercepted in the drillhole SDH17-3 (Figure 3). The most significant intercepts in SDH17-13 are 0.58 g/t Au over 6.3 m from 9.3 m, 2.05 g/t Au over 12.5 m from 17.75 m (including 3.15 g/t Au over 6.15 m), 0.77 g/t Au over 15.35 m from 35.3 m, 1.2 g/t Au over 21.45 m from 82.9 m, 2.34 g/t Au over 2.15 m from 139.4 m, and 1.48 g/t Au over 4.35 m from 156.0 m.
Table 1. Mineralized intercepts in drillhole SDH17-13 at Klyuchi West (above 0.5 g/t Au cut-off).
|Drillhole Number||From |
The style of mineralization can be best classified as intrusion-hosted gold. The closely-spaced mineralized intervals define a 250 m footprint width of gold-mineralized stockwork at Klyuchi West, including drillhole SDH17-7. The material between the intercepts is generally grading 0.2 to 0.49 g/t Au. The stockwork requires further constraining as it has some data gaps across the strike and downdip (Figure 3).
Figure 3. Gold mineralization in SDH17-13 and adjacent historical holes (C220) and Orsu drillholes SDH17-3 and SDH17-7 as well as in trenches S10ZTR17-7, S10ZTR17-15 and S10ZTR17-16. Note higher grade (>2 g/t Au) intercepts near the dykes.
The intercepts in drillhole SDH17-14 (Table 2), drilled at 70 degrees towards the northeast, principally confirm extension of the identified zones to the northwest, but lithologically they occur in the granodiorite porphyry intrusion. This drillhole was sampled selectively over visually identified mineralized intervals, representing 65% of the drillhole length.
Table 2. Mineralized intercepts in drillhole SDH17-14 at Klyuchi West (above 0.5 g/t Au cut-off).
|Drillhole Number||From |
The available data indicate a 250x200 m potential dimension of granite-hosted stockwork within the Klyuchi West prospect of the Sergeevskoe license, before it extends into granodiorite to the west. In the stockwork, there are four higher grade (>2 g/t Au) mineralized intervals (Figure 2 and 3), occurring approximately every 50 m across its width near the dykes. Its drill tested vertical extent varies from 100 to 150 m and the individual veins remain open downdip below 850 to 875 mRL. Although the data are limited some drill intercepts reveal higher gold grades than those intercepted in surface trenches.
Quality Assurance - Quality Control (“QA/QC”)
Drillcore samples were submitted directly to the ALS Limited laboratories in Chita, Russia, which are independent from Orsu, for sample preparation and analysis. Analysis for Au is performed using fire assay method with atomic absorption (“AA”) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au.
This release and the technical data reported have been reviewed and approved by Alexander Yakubchuk, Director of Exploration 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. 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:
Alexander Yakubchuk, Director of Exploration, Orsu Metals Corporation
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
Tel: +1-604-536-2711 ext 6