Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is delighted to announce excellent drilling results from additional holes at Zone 23, as part of the 10,500 meters (‘m’) drilling program at its Sergeevskoe Gold Project in Russia. The program is designed to deliver an estimation of a maiden resource by Q4 2018.
- The Company received the assay results for drill holes SDH18-44, SDH18-45a, SDH18-46, SDH18-27 and SDH18-28
- The drill-proven strike length of mineralization at Zone 23 now exceeds 600 m, with assays received for six sections over a strike length of 400 m and to a depth of 150-250 m, averaging 1.86 g/t Au over a combined drill width of 24.96 m in two stockworks
- The central part of Zone 23 appears to host east-plunging +2 g/t Au mineralized shoots in each stockwork, intercepted over a strike length of 320 m
- The Company now expects to obtain the assays from newly drilled holes to estimate the resource contained in Zone 23 and determine further fill-in and step out drilling in Zone 23, remaining open downdip and to the west
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “Orsu successfully extended the gold mineralization both westward and eastward at Zone 23. Both stockworks remain open downdip and to the west of section 9220E, where Orsu has already drilled two drill fences up to the westernmost section 9010E. The combined drill width over the entire drill-proven and assayed 400 m strike length and 150-250 m depth is 24.96 m grading 1.86 g/t Au versus the previously reported total average drill width of 33.08 m averaging 1.89 g/t Au over 240 m, e.g., within the 1.5-2.0 g/t Au guidance estimated based on 2017 drilling and trenching results prior to commencement of the 2018 program. Most spectacularly, four consecutive cross-sections, spanning a strike length of more than 320 m in the middle segment of Zone 23, returned consistent +2 g/t Au mineralized shoots in both stockworks. The shoots are plunging at 65 degrees to the east and guide us to target the higher-grade core. The Company completed most drilling works at Zone 23 and reported results will become an integral part of the forthcoming maiden resource estimate”.
Dr Sergey V Kurzin, Executive Chairman of Orsu, commented: “Splendid. As the Company reported earlier, we expected that we might be able to extend the Main and Southern stockworks at Zone 23 (see Orsu press-releases dated 16th of July, 2018 and 15th of August, 2018). Now this expectation has been confirmed. Zone 23 behaves predictably and excellently so far, and credit goes to our exploration team for handling this area with great skill and effort. Zone 23 is a major building block of Orsu’s maiden mineral resource statement expected in Q4 2018”.
As previously reported, the license of the Sergeevskoe Gold Project occurs immediately east from the Alexandrovskoe open pit and gold plant owned by Zapadnaya Gold Mining Ltd and 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 Orsu press-release December 1, 2017).
Figure 1. An outline of the 7.6 sq km Sergeevskoe license area with location of principal gold prospects and two adjacent open pits.
Orsu previously reported gold mineralization at Zone 23 in four sections (see Orsu press-release July 16, 2018) to the south of the Shirotnyi fault (Figure 2). The quartz-tourmaline-sulfide stockworks are hosted here primarily in the granite intrusion.
Both Main and Southern stockworks are now continuously drill-proven from sections 9220E to 9620E and, in addition, are visually identified in drill core in section 9010E (Figure 3) and were therefore traced for more than 600 m from the west to the east. The assays for the western extension are pending. Both stockworks change in width along the strike and downdip. The combined average drill width of the two stockworks over an assayed strike length of more than 400 m and some 150 to 250 m downdip is 24.96 m grading 1.86 g/t Au.
Figure 2. The surface expression of multiple west-east-trending gold-mineralized intervals at Zone 23, Sergeevskoe Gold Project, constrained by historical and Orsu data. Although appearing relatively narrow at surface, they become much wider at depth, forming the Main and Southern stockworks.
Orsu is confident in interpreting location of the stockworks relative to the marker of granodiorite porphyry dyke, intruding the granite. In addition, the southern limit of the mineralized corridor can be constrained in most sections by presence of the hybrid dyke.
In four consecutive sections (9220E to 9460E), both stockworks reveal consistent +2 g/t Au intercepts, which are interpreted to represent higher grade gold shoots (Figure 3). The intercepts in the 2017 and 2018 trenches generally correspond to the recognized gold shoots. However, they generally show lower values (Table 1), indicating that gold mineralization in Zone 23 is semi-blind or forms relatively narrow intervals, which become much wider in the drill-holes, some 40 m below surface.
The above interpretations are based on selection of the previously and newly-reported mineralized intervals in sections 9220E, 9380E and 9620E presented below, 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 a mineralized interval. Composited intervals in drill holes are presented uncapped.
Figure 3. Preliminary interpretation of gold mineralization in vertical projections of the Main and Southern stockworks (looking north) with eastward-plunging +2 g/t Au mineralized shoots. The Shirotnyi fault obliquely cuts mineralization in the east, whereas it remains open to the west, where it was recently drilled up to section 9010E (results pending).
In section 9220E (Figure 3), Orsu received complete assays for drill holes SDH18-44 and 45a (Table 1). These holes were drilled southward at approximately 60 degrees. They aimed to target the western extent of mineralization intercepted in sections 9300E and 9260E. The holes intercepted 0.6 g/t Au over 6.6 m from 183.8 m and 2.5 g/t Au over 5.85 m from 28.75 m in the Main stockwork. The Southern stockwork is represented by several intercepts of 1.96 g/t Au over 5.75 m from 298.25 m, 2.26 g/t Au over 1.9 m from 308.75 m and 2.47 g/t Au over 4.3 m from 70.15 m.
The infill drillhole SDH18-46 in section 9380E (Figure 3), drilled at approximately 60 degrees underneath the previously reported hole SDH18-30, intercepted 0.86 g/t Au over 13.95 m from 251.55 m, including 2.25 g/t Au over 1.9 m in the Main stockwork and 2.47 g/t Au over 18.7 m from 277.55 m in the Southern stockwork.
In section 9620E (Figure 3), hole SDH18-27, drilled at 60 degrees to the south across the Shirotnyi fault, intercepted only the Southern stockwork with 0.66 g/t Au over 7.8 m from 73.95 m and 1.91 g/t Au over 2.55 m from 85.8 m, and this stockwork was not intercepted in hole SDH18-28 (also drilled to the south at 60 degrees) due to oblique truncation by Shirotnyi fault. However, north of the fault, hole SDH18-27 intercepted 0.59 g/t Au over 18.95 m from 20.35 m, and hole SDH18-28 returned 0.98 g/t Au over 9.3 m from 83.7 m, 1.31 g/t Au over 34.45 m from 97.5 m (including 4.17 g/t Au over 6.95 m) and 0.78 g/t Au over 7 m from 147.0 m (Table 1), representing voluminous gold-mineralized zones in the southern part at Klyuchi West. We currently correlate the higher-grade gold mineralization with the intervals intercepted in hole SDH17-7 (see Orsu press release November 9, 2017), whereas voluminous intercepts reveal some similarity to such mineralization recognized at Klyuchi West (see Orsu press release August 8, 2018) and require further exploration.
Table 1. Mineralized intercepts in drill-holes SDH18-44, 45a, 46, 27, 28 and trenches STR18-26, 28, 29, 30 at Zone 23 (above 0.5 g/t Au cut-off). All holes were drilled to the south at 50 to 60 degrees. All trenches were driven to the north.
Quality Assurance - Quality Control (“QA/QC”)
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all trenches. Duplicate samples were inserted after every 20 samples. All standard samples were inserted once per 20 samples. Blanks were also inserted once per 20 samples and consisted of the previously assayed barren granitoid rocks.
Drill core samples were submitted directly to the SGS Vostok 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