Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is pleased to announce additional results from newly identified gold-mineralized zones at the Peak Klyuchi domain located within its Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation.
- Orsu 2019 core drilling works at Sergeevskoe completed - 3555.45 m in 13 holes
- Orsu outlined more than 10 new gold-mineralized veins within a 475 x 300 m area at the Peak Klyuchi domain
- The average grade of +2-m-intercepts in six drillholes and five trenches at Peak Klyuchi is 1.56 g/t Au and 10.45 g/t Ag over an average drill or channel width of 3.7 m
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “The newly discovered gold veins at Peak Klyuchi remain open along strike and downdip. We discovered new gold-mineralized zones across the strike as well. While average gold grade in the new workings is only slightly higher than the average gold grade in the Inferred Resource the average silver grade reaches 10.45 g/t, more than three times higher than in the Inferred Resource announced in April 2019.“
Dr. Sergey Kurzin, the Executive Chairman, noted: “The discovery of new gold mineralization at Peak Klyuchi domain once again highlights a possibility for growth at Sergeevskoe. We believe that our relatively limited 2019 drilling revealed a new gold-mineralized domain and the remaining data gaps in between the already drilled parts indicate a strong possibility for further expansion of the mineralized envelope. Peak Klyuchi may eventually merge into one mineral system with Klyuchi West, Intermediate, and Kozie domains.“
Orsu finished all drilling works as part of its 2019 exploration programme completing 3555.45 m in 13 holes at Sergeevskoe (Figure 1). The trenching works are also finished but logging and sampling of four remaining trenches is ongoing and is expected to be completed during October 2019.
Figure 1. An outline of the 7.6 sq km Sergeevskoe license area with location of principal gold prospects and adjacent Klyuchevskoe open pit. The area of 2017-2019 exploration works is shown in red.
Orsu has received most assay results for the 2019 trenches and drillholes at Peak Klyuchi. The two trenches in between Kozie and Peak Klyuchi (STR19-53 and STR 19-54) and one trench (STR19-55) to the northwest from Peak Klyuchi (Figure 2) are currently being sampled.
Figure 2. Plan view of trenches and drillholes at the Peak Klyuchi domain, Sergeevskoe gold project. Gold-mineralized zone is depicted based on logging of quartz-tourmaline vein swarm in granodiorite porphyry and magmatic breccia intruded by diorite and hybrid porphyry dikes. Logging and assay data for trenches STR19-53, STR19-54 and STR19-55 are pending.
Preliminary modelling of +2m mineralized intercepts revealed at least 10 subparallel northwest-striking to oblique west-east-striking veins (Figure 3). The individual veins can be traced for a variable distance of 200 to 475 m. However, they remain open both to the yet untested area in the northwest and to the southeast towards Kozie and Intermediate domains.
Figure 3. A northwest-looking preliminary 3D model of the gold-quartz-sulphide veins at Peak Klyuchi. All shown intercepts are reported above the 0.5 g/t Au cutoff and include results from Orsu’s 2017 drilling and trenching (see press release February 14, 2018). Logging and assay data for trenches STR19-53, STR19-54 and STR19-55 are pending.
Gold-mineralized veins of the Peak Klyuchi domain appear some 900 m on strike from the Intermediate domain in the southeast and in parallel to the veins in the Kozie and Klyuchi West domains (Figure 4). Large areas in between these domains remain undrilled although some new data are expected from the remaining 2019 drillholes and trenches. Orsu expects that future infill drilling may identify new gold mineralization with a possibility that currently known veins may represent parts of a mineral stockwork, extending for some 1350 m from the northwest to the southeast and 540 m across.
Figure 4. Peak Klyuchi vs resource domains at Kozie, Klyuchi West, Intermediate and Zone 23. Drillhole and trench traces are shown semi-transparent.
Table 1 reports individual intercepts for trenches and drillholes at Peak Klyuchi. The average width of +2m intercepts in all Peak Klyuchi workings is 3.7 m, grading 1.56 g/t Au and 10.45 g/t Ag. All widths are core or channel width. True width is estimated at ~70%. All assay values are uncut.
Table 1. Mineralized intercepts in 2019 drillholes and trench at Peak Klyuchi (above 0.5 g/t Au cut-off).
SDH19-88A (449.4 m)
Azimuth 215, Dip 56.8
200.5 to 338.5 m
September 5, 2019
SDH19-87 (239.45 m)
Azimuth 35, Dip 55
|146.8||148.0||1.2||0.65||<0.3||Reported on September 5, 2019|
SDH19-89 (228.8 m)
Azimuth 35, Dip 55
SDH19-90 (228.8 m)
Azimuth 35, Dip 55
STR19-42 (249.5 m)
STR19-40 (211 m)
STR19-41 (211 m)
|78.0||87.0||9.0||0.93||2.97||Silver assays received|
STR19-49 (128 m)
|107.8||109.8||2.0||1.47||Silver assays pending|
The above intercepts are based on a 0.5 g/t Au cut-off for compositing of the mineralized intervals, with maximum 2 m core or channel length of 0.3-0.5 g/t Au mineralization included into a mineralized interval. Composited intervals in drill holes are presented uncapped. The assays for some drill holes and trenches are still 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 channel and drill core samples. 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.
Samples were submitted directly to the SGS Vostok and ALS laboratories in Chita, Russia, which are both 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.
Alexander Yakubchuk, the Company’s Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed and approved the exploration information disclosures contained in this press release.
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