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Barsele Minerals shares higher as it drills 4 metres of 60.18 g/t gold
Barsele Minerals Corp (CVE:BME) has revealed more encouraging results from drilling at its Barsele gold/volcanogenic massive sulphide (VMS) project in Sweden, including an intercept of 60.18 grams per ton (g/t) gold.
Shares in the group ticked 3.85% higher at $1.08 each.
It said the finds throw further light on what is a ‘large and evolving’ mineral system.
- READ – Barsele Minerals drills 31 m of 2.29 g/t gold at Barsele
- READ – Barsele Minerals Corp bringing it on in Sweden
During February this year, three diamond drilling machines were focused along the trend of the Central and Skirasen zones, where expansion, infill and twin-hole drilling has taken place.
Four holes were completed – one expansion and three infill, while 3,023 assay results were received.
One hole – an infill hole – recorded eight good gold intercepts and a significant gold intercept of 4 metres at a whopping 60.18 grams per ton (g/t) gold.
The exploration program is being operated by the firm’s joint venture partner Agnico Eagle Mines Ltd.
Agnico Eagle owns 55% of the project, while Barsele owns 45, while Agnico can earn a further 15% by completing a pre-feasibility study.
Barsele president Gary Cope told investors: “Infill hole SKI17003 has delivered eight good gold intercepts and a significant gold intercept 595 meters below surface.”
He added: “The presence of zinc in infill hole SKI16015 is encouraging and we look forward to ongoing drill results from this large and evolving mineralized system.”
The Barsele property lies at the western end of what’s called the “Skellefte Trend” – a prolific VMS deposits belt.
Both polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property.
Current and past producing mines in the region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175952/barsele-minerals-shares-higher-as-it-drills-4-metres-of-6018-gt-gold-175952.html
