Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) reports the strike length of drill-confirmed gold mineralization at Zone 23 extends to 300 m at its Sergeevskoe Gold Project in Russia.
- Hole SDH17-20 intercepted gold mineralized intervals, which together with intervals in historical holes, have tripled the strike length of gold mineralization to 300 m, with 170 m width and 150-200 m depth at Zone 23
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “Hole SDH17-20, primarily drilled to constrain the downdip geometry of gold-mineralized stockwork at Zone 23, confirmed the presence of multiple mineralized intervals, extending for 300 m along the strike in drillholes and some 420 m in trenches. Using historical drillholes, the steeply-dipping gold-mineralized stockwork at Zone 23 can be traced for 150-200 m downdip and some 170 m across. Mineralization remains open in all directions except to the north.”
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).
The Phase 2, diamond drill program, comprising 1,921.50 metres (“m”), was completed on December 24, 2017, focussing on four target areas:
|Klyuchi West||414.40||January 25, 2018|
|Zone 23||736.10||1 hole January 22, 2018|
2 holes January 30, 2018
4th and final hole below
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 has now received assays for hole SDH17-20, which was drilled approximately 80 m west (Figure 2) of the previously reported hole SDH17-15 (see press release January 22, 2018) at Zone 23. The mineralization intercepted in this hole is principally similar in style and geological setting to that reported in SDH17-15.
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.
SDH17-20 was drilled to a depth of 162.6 m southward at approximately 60 degrees. Hole SDH17-20 aimed to test the western extension of gold-mineralized stockwork to constrain its geometry in between historical holes C210 and C201, part of the drill fence also including historical holes C199, C200 and C202 (Figure 3). As expected, SDH17-20 intercepted multiple mineralized intervals (Table 1; Figure 3), corresponding to quartz-tourmaline veins and hydrothermal breccia. The most significant intercepts are: 0.76 g/t Au over 4.1 m from 45.9 m; 1.08 g/t Au over 8.3 m from 89.3 m (including 3.62 g/t Au over 1 m); 0.64 g/t Au over 4.8 m from 122.7 m.Better intercepts tend to occur near the contact between Permian granite and Jurassic granodiorite porphyry as well as near the hybrid porphyry dykes.
Figure 2. Surface expression of multiple west-east-trending gold-mineralized intervals at Zone 23, Sergeevskoe Gold Project, constrained by historical and Orsu trench data.
Table 1. Mineralized intercepts in drillhole SDH17-20 at Zone 23 (above 0.5 g/t Au cut-off).
Figure 3. Gold mineralization in hole SDH17-20 and historical holes on cross-section 9220E (looking west). Note presence of multiple mineralized intervals in drillholes, with best mineralization occurring near the contact between Permian granite and Jurassic granodiorite porphyry. Higher grade in surface trench TR17-996 is likely to reflect enrichment in oxidized mineralization. TOS = inferred top of sulphide. Gold intercepts in historical drillholes are in Italics. For legend see Figure 2.
The intercepts in hole SDH17-20 clearly demonstrate a western extension of gold mineralization in multiple subvertical veins rather than in, as was historically interpreted, widely spaced veins dipping to the north at some 60 degrees. Orsu noted that these intervals were also intercepted in historical hole C-225 in section 9140E. No historical drilling was undertaken further west at Zone 23. However, oxidized mineralization is present in historical trench K-697 in section 9000E (Figure 2) as confirmed by scout chip sampling by Orsu. This proves a drill-confirmed extent of mineralization for a total of 300 m, within a 420x170 m trench-constrained footprint of gold mineralization at Zone 23. The mineral system is limited to the north along the Shirotnyi fault that separates Permian granite, a principal host of gold mineralization, from less mineralized Jurassic granodiorite porphyry intrusion, remaining open to the west and potentially to the east.
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