Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is pleased to announce significant drilling results for the first 3 holes, totaling 837.2 metres (“m”) of the 10,000 m drilling program at its Sergeevskoe Gold Project in Russia. The program is designed to test new targets and to culminate in an estimation of a maiden resource. Results from the other holes and new trenches are pending.
- The results from the middle part of hole SDH18-21 in the central part of Zone 23, drilled underneath the previously reported Orsu hole SDH17-15, double the downdip continuation of the Main stockwork by intercepting:
- 1.04 g/t Au over 8.4 m from 242.3 m
- 0.94 g/t Au over 2.75 m from 269.5 m
- 0.94 g/t Au over 12.45 m from 274.65 m
- The lower part of hole SDH18-21 intercepted new Southern stockwork with:
- 0.71 g/t Au over 3.25 m from 307.1 m
- 2.66 g/t Au over 2.75 m from 315.95 m
- 1.84 g/t Au over 2.15 m from 321.3 m
- 1.42 g/t Au over 22.95 m from 325.05 m
- 0.77 g/t Au over 4.25 m from 356.3 m
- These results confirm a more than 210-230 m vertical extent from surface of gold mineralization in the Main stockwork, averaging 2.09 g/t Au over 24 m. The semi-blind Southern stockwork averages 1.38 g/t Au over 20 m, starting from 1-2-m-thick veins near surface and exceeding 23 m in drill width at a depth of 260-280 m from surface.
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “In section 9300E in the central part of the 530x120 m west-east trending Zone 23, Orsu was able almost to double the vertical extent of gold mineralization in the Main stockwork from the previously reported 125-150 m to 210-230 m vertically from the surface. If to exclude narrow and relatively low grade mineralized zones, the average grade of the three intercepts across the thickest and most consistent part of the Main stockwork in the 2017 and 2018 holes is 2.09 g/t Au over 24 m.
Our deep drilling also identified a new Southern stockwork at Zone 23. Although historical trenches and our shallow drillholes intercepted only narrow 1-2-m-thick veins near the surface, they increase in width from 3 m at a depth of 50-70 m to more than 20 m at the vertical depth of 260-280 m. The gold mineralization averages 1.38 g/t Au over 20 m in the three widest drill intercepts across the Southern stockwork.
The gold mineralization at Zone 23 is now constrained to the south, forming a 100-m-wide mineralized corridor of two stockwork zones. It still remains open downdip and along strike.”
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 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.
The first three holes in section 9300E at Zone 23, where the Company previously reported encouraging intercepts (see press releases November 13, 2017 and January 22, 2018), tested the downdip extension and southern periphery of mineralization (Figure 2).
Gold mineralization at Zone 23 is limited in the north along the Shirotnyi fault (Figure 2), extending from the Klyuchevskoe open pit. This fault is interpreted as a strike-slip fault with dextral offset for some 1 km relative to the mineralization in the Klyuchevskoe open pit. It separates the granodiorite porphyry and magmatic breccia stocks to the north from the hosting granite intrusions to the south. The latter was identified by Orsu to host the best mineralized quartz-tourmaline-sulfide veins and veinlets, forming stockwork zones. At Zone 23, the stockwork strikes from the west to the east, as confirmed by historical and Orsu trenches. The style of mineralization can be best classified as intrusion-hosted gold.
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.
Figure 2. The surface expression of multiple west-east-trending gold-mineralized intervals at Zone 23, Sergeevskoe Gold Project, constrained by historical and Orsu trench data. Drillholes SDH18-2, 22 and 23 are shown along the 9300E section in the central eastern part of Zone 23.
To date, Orsu received complete assays only for three drillholes SDH18-21, 22 and 23 (Table 1). SDH18-21 was drilled to a depth of 421 m southward at approximately 60 degrees underneath the previously reported Orsu hole SDH-17-15 (Figure 3). SDH18-21 intercepted multiple mineralized intervals, corresponding to quartz-tourmaline veins and hydrothermal breccia. The most significant intercepts are 1.04 g/t Au over 8.4 m from 242.3 m, 0.94 g/t Au over 2.75 m from 269.5 m, and 0.94 g/t Au over 12.45 m from 274.65 m. We interpreted them as a downdip continuation of mineralization reported in the middle part of drillhole SDH17-15 (see press release January 22, 2018) and identify it as a Main stockwork.
The following four intervals 0.71 g/t Au over 3.25 m from 307.1 m, 2.66 g/t Au over 2.75 m from 315.95 m, 1.84 g/t Au over 2.15 m from 321.3 m, and 1.42 g/t Au over 22.95 m from 325.05 m, when grouped together including poorly mineralized material, comprise 1.22 g/t Au over 40.60 m. Together with widest drill intercepts in the previously reported drillholes SDH17-1 and SDH17-15 (Figure 3), we recognize them as the semi-blind Southern stockwork of gold mineralization in section 9300E in Zone 23.
In its deepest part, drillhole SDH18-21 additionally intercepted 0.77 g/t Au over 4.25 m from 356.3 m, 1.15 g/t Au over 5.3 m from 367.9 m, 0.58 g/t Au over 3.05 m from 375.95 m, and 1.09 g/t Au over 5.30 m from 385.6 m. These intervals correspond to narrow and relatively low grade gold mineralization intercepted in drillholes SDH18-22 and SDH18-23 (Table 1). The widest intercept of 1.18 g/t Au over 5.45 m from 13 m depth in SDH18-22 is interpreted to represent the shallow part of the Main stockwork (Figure 3).
Figure 3. Comparison of gold mineralization in section 9300E (looking west) as reported on January 22, 2018 (left) and in this press release (right). Note vertical orientation of the Main stockwork and significant increase in width in the Southern stockwork with depth in comparison with the narrow surface footprint in historical trenches. Results for Orsu trench STR18-30 are pending.
Table 1. Mineralized intercepts in drillholes SDH18-21, 22 and 23 at Zone 23 (above 0.5 g/t Au cut-off).
New drillholes SDH18-22 and SDH18-23 constrained the southern periphery of gold mineralization at Zone 23 (Figure 3). Drillhole SDH18-21 confirmed the downdip extent of the previously reported wide intercepts in SDH17-15, outlining a vertical extent of 210-230 m and a drill width of 25-30 m in the Main stockwork at Zone 23. Despite decrease in the reported gold grade in drillhole SDH18-21, the thickest zones of gold mineralization in the Main stockwork in section 9300E averages 2.09 g/t over 24 m. In its deeper part, drillhole SDH18-21 intercepted four closely spaced intervals, collectively grading 1.22 g/t Au over 40.6 m, which represent the Southern stockwork at Zones 23, expressed as narrow zones near the surface. The gold mineralization in the widest part of the Southern stockwork averages 1.38 g/t Au over 20 m. Together with the lower grade intercepts the Main and Southern stockworks in section 9300E form an approximately 100-m-wide corridor with gold mineralization. As part of the ongoing 10,000 m drilling program, Orsu drilled new holes in sections spaced 80 m east from section 9300E, the assay results for which are pending.
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.
Drillcore 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