Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) extends mineralization at Zone 23 of its Sergeevskoe Gold Project in Russia.
- Holes SDH17-16 and SDH17-17, drilled 80 m east of SDH17-15, confirmed an extension to the east of gold mineralization at Zone 23
- Hole SDH17-16 intercepted:
- 1.58 g/t Au over 19.1 m from 105 m (including 12.85 g/t Au over 1.35 m)
- 1.94 g/t Au over 8.8 m from 136.3 m (including 4.61 g/t Au over 1.8 m and 4.72 g/t Au over 1.25 m)
- 0.66 g/t Au over 6.4 m from 149.2 m
- Hole SDH17-17 drilled in the same section intercepted:
- 1.78 g/t Au over 15.2 m from 74.6 m (including 5.01 g/t Au over 3.15 m)
- 0.97 g/t Au over 1.2 m from 106.3 m
- 6.56 g/t Au over 4.05 m from 136.3 m (including 17.7 g/t Au over 1 m)
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “Holes SDH17-16 and SDH17-17 revealed a good eastward extension of gold mineralization and continuity of gold grade identified in holes SDH17-1 and SDH17-15. Together with historical hole C230 the drill-confirmed extent of gold mineralization in the eastern part of Zone 23 reaches 120 m along the strike, 150 m downdip, and 70 to 100 m across. The mineralization remains open downdip, across the strike, and for additional 400 m to the west.”
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 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 January 25, 2018|
|4.||Zone 23||736.10 metres – 1 of four holes reported January|
22, 2018 - 2 holes reported below – 1 hole pending
Orsu has now received assays for holes SDH17-16 and SDH17-17, which were drilled in one fence approximately 80 m east (Figure 2) of the previously reported hole SDH17-15 (see press release January 22, 2018) in Zone 23. The mineralization intercepted in these holes is principally similar in style and geological setting to that reported in SDH17-15 (Figure 3).
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 SDH17-1, SDH17-15, SDH17-16 and SDH17-17 are shown in the eastern part of Zone 23.
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.
SDH17-17 was drilled to a depth of 144.2 m southward at approximately 60 degrees (Table 1; Figure 3). SDH17-17 intercepted multiple mineralized intervals, corresponding to quartz-tourmaline veins and hydrothermal breccia, some of which appear to be much wider and higher grade than intercepted at surface in the previously reported trench S23ZTR17-6. The most significant intercepts are 1.78 g/t Au over 15.2 m from 74.6 m (including 5.01 g/t Au over 3.15 m); 0.97 g/t Au over 1.2 m from 106.3 m; 6.56 g/t Au over 4.05 m from 110.1 m (including 17.7 g/t Au over 1 m).
SDH17-16 was drilled in the same section underneath SDH17-17 to a depth of 183.05 m southward at approximately 70 degrees (Table 1; Figure 3). SDH17-16 intercepted multiple mineralized intervals, corresponding to quartz-tourmaline veins and hydrothermal breccia, generally of similar width to hole SDH17-17. The most significant intercepts are 1.58 g/t Au over 19.1 m from 105 m (including 12.85 g/t Au over 1.3 m), 1.94 g/t Au over 8.8 m from 136.3 m (including 4.61 g/t Au over 1.8 m and 4.72 g/t Au over 1.25 m).
Table 1. Mineralized intercepts in drillholes SDH17-17 and SDH17-16 at Zone 23 (above 0.5 g/t Au cut-off).
True Width (m)
Figure 3. Gold mineralization in holes SDH17-16 and SDH17-17 on cross-section 9380E (looking west). Note increase in width of some mineralized intervals in drillholes in comparison with the surface intercepts in trenches. For legend see Figure 2.
The quality of intercepts in holes SDH17-16 and SDH17-17 appears to be comparable to SDH17-15, albeit in more narrow intervals and also with notable increase in thickness downdip. Orsu interpreted that these intervals were also intercepted in historical hole C-230, approximately 40 m to the east at the apparent eastern end of Zone 23 at surface (Figure 2). This proves the drill-confirmed extent of mineralization for 120 m. It remains open downdip and there is a possibility for identification of additional mineralized intervals across the strike as it can be inferred from an intercept of 19.7 m @ 0.66 g/t Au in Orsu trench S23ZTR17-6.
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 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