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Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is excited to announce excellent drill results at the Klyuchi West Zone of its Sergeevskoe Gold Project in Russia.
Highlights:

  • Drilling identified a 200 m width ofsteeply-dipping gold stockwork in the north of Klyuchi West.
  • Hole SDH18-39 intercepted:
    • 2.03 g/t Au over 10.15 m from 45.9 m,
    • 5.83 g/t Au over 5.55 m from 89.95 m,and
    • 2.64 g/t Au over 10.55 m from 119.95 m.
  • Hole SDH18-40 intercepted:
    • 0.82 g/t Au over 46.45 m from 39.8 m,
    • 2.3 g/t Au over 9.4 m from 94.65 m, and
    • 1.76 g/t Au over 10.9 m from 186.75 m,
  • Hole SDH18-34 intercepted:
    • 1.17 g/t Au over 31.75 m from 4.1 m (including 2.06 g/t Au over 9 m).
  • Hole SDH18-35 intercepted:
    • 1.27 g/t Au over 58.5 m from 83.05 m, including 2.63 g/t Au over 10.5 m.
  • Hole SDH18-41 intercepted:
    • 1.0 g/t Au over 41.1 m from 140.2 m,
    • 1.5 g/t Au over 15.9 m from 190.9 m, including 2.03 g/t Au over 4.55 m, and
    • 3.33 g/t Au over 9.85 m from 245.9 m.

Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “Although Orsu identified a gold-mineralized stockwork at Klyuchi West in 2017, its extent remained unknown. New drilling in 2018 intercepted a 200-m-wide envelope with voluminous disseminated porphyry-like gold mineralization, superimposed by a linear 75-m-wide stockwork of northwest-trending gold-quartz veins. The highest gold grades tend to appear near the contact between granite and granodiorite porphyry intrusions. The stockwork trends towards the central part of the Kozie prospect, located some 250 m northwest from Klyuchi West. The area in between was never drilled or trenched in the past, and Orsu is currently drill-testing this area”.

Dr. Sergey Kurzin, the Executive Chairman of the company added: “This is great news, we have not yet seen that sheer volume of mineralization at Sergeevskoe deposit. It is hoped that results from further drilling will connect this stockwork with the Kozie occurrence, to potentially double the expected size and tonnage of the Klyuchi West zone. We are nearing completion of the 2018 exploration program having drilled 8 000 out of 10 500 planned meters. I am very happy with what we have seen so far. All three zones that we worked on this year – Zone 23, Adit 5 and Klyuchi West - comfortably met and more often exceeded our expectations by a margin. Orsu is firmly on track to deliver the resource statement in Q4 2018.“

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.

At Klyuchi West, the Company previously reported encouraging intercepts in surface trenches and drillholes SDH17-3 and SDH17-7, as well as in (see press release November 13, 2017), as well as in drillholes SDH17-13 and SDH17-14 (see press release January 25, 2018), which demonstrated a 200 m vertical extent of gold mineralization, but its width was not constrained.

As part of the ongoing ~10,500 m drilling program, Orsu drilled 8 holes, totaling 2283.7 m in three north-south fences, approximately 40 m apart, starting near the eastern license boundary. The mineralization in the north of Klyuchi West forms a northwestern extension of gold mineralization in the Klyuchevskoe open pit (Figures 1 & 2).

The mineralization is hosted by the Permian granite intrusion, which is intruded by Jurassic granodiorite porphyry stock and dioritic to hybrid porphyry dykes. The stockwork consists of quartz-tourmaline-sulfide veins and veinlets, striking to the northwest, often in parallel orientation with the dykes. The contact between the granite and granodiorite porphyry is also important in controlling the higher grade gold mineralization.


Figure 2. Surface expression of multiple northwest-trending gold-mineralized intervals at Klyuchi West, Sergeevskoe Gold Project. Mineralization south of Shirotnyi Fault is not shown.

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 all eight holes drilled in parallel sections 9740E, 9790E and 9830E, although some assays for some intervals are still pending (Table 1). All holes were drilled to the south at 50 to 75 degrees and identified multiple gold-mineralized intervals in quartz-tourmaline veins and hydrothermal breccias, with best and/or widest intercepts in holes SDH18-39, 40, 34, 35 and 41 (Figure 3). In particular, SDH18-39 intercepted 2.03 g/t Au over 10.15 m from 45.9 m, 5.83 g/t Au over 5.55 m from 89.95 m,and 2.64 g/t Au over 10.55 m from 119.95 m. SDH18-40 intercepted 0.82 g/t Au over 46.45 m from 39.8 m, 2.3 g/t Au over 9.4 m from 94.65 m, and 1.76 g/t Au over 10.9 m from 186.75 m, whereas SDH18-34 intercepted 1.17 g/t Au over 31.75 m from 4.1 m (including 2.06 g/t Au over 9 m), and nearby SDH18-35 returned 1.27 g/t Au over 58.5 m from 83.05 m, including 2.63 g/t Au over 10.5 m. SDH18-41 went through 1.0 g/t Au over 41.1 m from 140.2 m, 1.5 g/t Au over 15.9 m from 190.9 m, including 2.03 g/t Au over 4.55 m, and 3.33 g/t Au over 9.85 m from 245.9 m.

9830E

9790E

9740E

Figure 3. Gold mineralization in sections 9830E, 9790E and 9740E. Note wide intercepts along the contact between granite and granodiorite porphyry. The higher grade (>2 g/t Au) intercepts tend to occur in granite, and granodiorite porphyry tends to host a bulk disseminated gold mineralization.

Holes SDH18-37 and 38 in section 9740E, with the lowest grades (Table 1), are interpreted to mark the southwestern flank of the mineralized stockwork in the north of Klyuchi West.

These results revealed a 200-m-wide gold-mineralized stockwork with multiple closely-spaced mineralized intervals. Downdip, it is drill tested to a depth of 200 m, with consistent or somewhat higher grade at depth. Its southwestern and northeastern parts host lower grade disseminated mineralization. In the center are the higher-grade gold veins, trending northwest towards the central part of the Kozie prospect. The 250 m strike length in between Kozie and Klyuchi West was never trenched or drilled in the past. It coincides with a low resistivity anomaly, identified by Orsu during the 2017 PD-IP electric surveying. Orsu is currently drilling scout holes in this area.

Table 1. Mineralized intercepts at Klyuchi West (above 0.5 g/t Au cut-off).

Drillhole Number

From
(m)

To
(m)

Interval
(m)

True Width (m)

Gold
(g/t)

Section 9830E

SDH18-39
(210.7 m)

12.65

16.55

3.9

3.4

0.65

26.9

30.75

3.85

3.3

0.54

45.9

56.05

10.15

9.0

2.03

89.95

95.5

5.55

4.8

5.83

119.95

130.5

10.55

9.2

2.64

125.8

130.5

4.7

4.2

5.29

151.1

153.05

1.95

1.6

0.9

161.7

165.7

4.0

3.5

1.57

202.65

204.85

2.2

1.8

0.65

SDH18-40
(241.2 m)

9.7

12.11

2.41

1.4

0.56

29.15

31.05

1.9

1.1

3.47

39.8

86.25

46.45

27.0

0.82

65.3

76.1

10.8

7.0

1.2

94.65

104.05

9.4

6.6

2.3

145.65

149.05

3.4

2.2

1.4

153.65

162.2

8.55

5.8

0.64

186.75

197.65

10.9

6.6

1.76

191.2

197.65

6.45

4.2

2.57

202.4

203.45

1.05

0.7

11.3

SDH18-42
(291.8 m)

24.6

27.65

3.05

2.4

1.63

31.4

33.9

2.5

2.0

0.57

50.15

79.3

29.15

23.0

0.61

81.35

98.35

17.0

13.5

pending

98.35

100.75

2.4

2.0

0.55

113.6

152.4

38.8

31.0

0.88

142.25

149.3

7.05

5.6

1.61

163.0

165.0

2.0

1.6

0.76

178.85

181.05

2.2

1.7

0.7

215.4

222.95

7.55

6.0

0.96

241.55

246.5

4.95

4.0

1.69

276.15

284.0

7.85

6.3

3.7

Section 9790E

SDH18-34
(141.6 m)

4.1

40.85

31.75

27.0

1.17

28.6

37.6

9.0

7.6

2.06

94.7

96.3

1.6

1.4

2.72

103.9

106.0

2.1

1.8

0.63

SDH18-35
(235.4 m)

11.0

14.5

3.5

2.5

0.89

23.25

26.8

3.55

2.5

1.22

34.15

55.6

21.45

14.5

0.89

48.5

55.6

7.1

5.0

1.01

83.05

141.55

58.5

18.5

1.27

101.6

109.7

10.5

3.5

2.63

161.05

163.4

2.35

0.8

2.4

170.55

172.2

1.65

0.55

0.63

179.8

183.55

3.75

1.2

1.55

SDH18-41
(293.8 m)

35.75

37.4

1.65

1.0

1.24

58.0

63.7

5.7

3.8

0.55

72.45

79.9

7.45

5.0

0.82

90.6

103.85

13.25

8.8

0.66

110.75

140.2

35.2

pending

140.2

181.3

41.1

28.0

1.0

190.9

206.8

15.9

11.0

1.5

201.35

205.9

4.55

3.5

2.03

226.8

232.5

5.7

4.3

0.62

245.9

255.75

9.85

7.0

3.33

273.4

275.8

2.4

1.9

0.75

Section 9740E

SDH18-37
(187 m)

37.05

39.7

2.65

2.2

3.29

45.95

55.15

9.2

7.8

0.5

65.15

75.0

9.85

8.2

0.65

81.85

86.4

4.55

3.8

0.54

88.65

96.65

8.0

6.8

0.68

100.0

104.0

4.0

3.4

0.6

SDH18-38
(150.7 m)

25.35

27.8

2.45

1.3

0.58

47.15

56.9

9.75

5.0

0.55

61.6

78.4

16.85

9.0

0.65

64.25

68.15

3.9

2.2

1.23

88.1

90.85

2.75

1.5

0.57

102.0

103.8

1.8

1.1

1.39

122.65

128.1

5.45

3.0

0.62

136.9

147.0

10.1

6.0

0.73

174.3

180.0

5.7

3.2

0.81

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.

Qualified Person

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.

Cautionary Statement:

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.

ENDS
————————————————————————————————————
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

www.orsumetals.com

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All rights reserved.
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