Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) is pleased to provide an update on its exploration activities at the Sergeevskoe project located in Russia.
The Company has completed a geochemical sampling survey. A total of 2456 soil samples were collected, covering approximately 5.5 square kilometres of the license area outside of the resource envelope located in the southeast of the Sergeevskoe licence area and excluding the Karmaevskoe part in the northeast of the licence disturbed by historical trenching or drilling. The samples were collected along the north-south traverses, spacing 100 m. The distance between the individual samples was 20 m. In several instances it was not possible to collect soil samples on steep slopes covered by rocks debris and in the areas of permafrost.
To date, the Company received multi-element assays, including gold, silver, and pathfinders, for 1079 samples (43.9% of total) mostly from the northern and eastern parts of the Sergeevskoe licence (see Figure below). The assay results for the remaining 56.1% are expected in the second half of October 2021.
More than 50% of received assays revealed values in excess of 0.1 ppm gold. These values were used to compile a preliminary map (see figure below) showing the distribution of the +0.1 ppm gold anomalies. Many samples returned gold values more than 0.25 and 0.5 ppm. One sample returned 1.11 ppm gold. The higher-grade assays tend to occur in clusters which represent the most obvious drilling targets. The Company will provide full statistics once Orsu receives all assay results.
The new data clearly outline anomalies previously unknown in the area due to poor quality of historical surveys and contamination from historical workings. In particular, the 1-km-long and 320-m-wide northwest-trending anomaly in the centre of the licence clearly shows where a gold-quartz stockwork can be traced from Peak Klyuchi and Kozie domains, essentially with a chance to double the strike length of the known mineralized envelope.
Many closely spaced north-northwest-trending anomalies were identified in the northern part of the Sergeevskoe licence over a distance of 2800 m. They form two clusters, 1500x1000 m and 1000x750 m, on strike from each other and on immediate continuation of mineralization known at the Karmaevskoe Au-Mo vein occurrence, in the Klyuchevskoe open pit, and to the north of the Kozie domain, all with established gold resources.
A new 800-m-long anomaly emerged at the Sergeeva prospect near the southern boundary of the licence, where Orsu has previously drilled only two holes.
Figure. First results of the 2021 geochemical survey, showing extent of the +0.1 ppm Au soil anomalies on the satellite image at the Sergeevskoe licence area. Soil sampling was completed along north-south lines over a 100x20 m grid.
Dr. Alexander Yakubchuk, Director of Exploration, commented: “The first assay results from the 2021 geochemical survey exceeded our expectations, mostly due to large areal extent of +0.1 ppm gold anomalies. They identified the exact position of the mineralized corridors representing new obvious exploration targets. Some of them indicate areas where future works may potentially at least double the strike length of the mineralized envelope and potentially to further extend it for additional 1 km towards the historically identified Vodorazdelnoe gold occurrence.”
Alexander Yakubchuk, the Company’s Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed, verified and approved the exploration information disclosures contained in this press release.
All assays were performed at the ALS Global laboratory in Chita (Russia) which is independent from Orsu.
About Orsu Metals Corporation
Orsu Metals Corporation is a mineral exploration and development company. The 90% owned Sergeevskoe gold project located in the Mogocha District of the Zabaikal’skiy Region of the Russian Federation is the focus of Orsu’s activities. Orsu has filed a technical report titled: “NI43-101 Technical Report on the Updated Mineral Resource Estimate for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation” dated effective January 9, 2020 (the “Sergeevskoe Report”) to support the Inferred Mineral Resource of 30.42 million tons, grading 1.45 g/t gold and containing 1.417 Moz gold at a 0.5 g/t gold cut-off grade and US$1,450 per troy ounce of gold, optimized into an open pit constrained by the license boundaries at Sergeevskoe.
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. Such information or statements may include, but are not limited to, statements with respect to the results of the geochemical survey. 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 a guarantee 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:
Sergei Stefanovich, Managing Director, Orsu Metals Corporation
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
E: [email protected]