VANCOUVER, BC, Dec. 16, 2020 /CNW/ - Barsele Minerals
Corp. (TSXV: BME) (the "Company" or
"Barsele") reports that it has filed an amended technical
report entitled "NI 43-101 Technical Report and Mineral Resource
Estimate (Amended) for the Barsele Property" (the "Amended
Technical Report") and an amended annual information form for
the year ended December 31, 2019 (the
"Amended AIF"). The Amended Technical Report and the Amended
AIF address comments raised by the British Columbia Securities
Commission (the "BCSC") in the course of a review. The
Amended Technical Report contains no material differences to the
original technical report filed on April 2,
2019. The Amended AIF incorporates the executive summary
from the Amended Technical Report and contains no material
differences to the original annual information form for the year
ended December 31, 2019 filed on
October 28, 2020. The BCSC review is
now complete.
The Mineral Resources and conclusions and recommendations
provided in the original report all remain unchanged. The report,
effective February 21, 2019, and
amended as of December 16, 2020, was
prepared in accordance with the Canadian Securities Administrators'
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101").
A summary description of the changes to the Amended Technical
Report include:
- Updated summary of certain Qualified Person's ("QP")
prior involvement with the property.
- Identification and confirmation of certain individual QP
interpretations, recommendations and conclusions as opposed to
their engineering firm.
- Reconciliation of reliance on other experts section of the
Amended Technical Report to sources concerning legal matters only
and the deletion of certain references to reliance on experts that
were inconsistent with the requirements of NI 43-101.
- Revisions to disclosure of certain historical estimates to
include disclosure required under NI 43-101.
- Clarification of the constraints used in classifying the
Mineral Resource estimates in respect of the open pit
optimization.
- Revisions to certain exploration work disclosure in the Amended
Technical Report to include relevant information regarding sampling
methods, instrumentation and procedures.
- Deletion of certain disclosure with respect to mineral resource
estimates for properties adjacent to the Barsele project.
- Deletion of certain historical exploration work performed by
the Company that was not consistent with the requirements of NI
43-101.
- Clarification that reference to specific extraction methods in
the Amended Technical Report are only used to establish reasonable
prospects for an eventual economic extraction.
A copy of the Amended Technical Report and Amended AIF are
available on SEDAR (www.sedar.com) and the Company's website
(www.barseleminerals.com).
Art Freeze, P.Geo, is the
Qualified Person as defined in NI 43-101 who has approved the
scientific and technical information contained in this news
release.
About the Barsele Gold Project
The Barsele Project is located on the western end of the
Proterozoic "Skellefte Trend", a prolific volcanogenic massive
sulphide deposits belt, that intersects with the "Gold Line" in
Northern Sweden. Both polymetallic
"VMS" deposits and intrusive hosted "Orogenic Gold" deposits are
present in this region and on this property. Current and past
producers in the region include Boliden, Kristineberg, Bjorkdal,
Svartliden and Storliden.
About Barsele Minerals Corp.
Barsele is a Canadian-based junior exploration company managed
by the Belcarra Group, comprised of highly qualified mining
professionals. Barsele's main property is the Barsele Gold Project
in Västerbottens Län, Sweden, a
joint venture with Agnico Eagle. A NI 43-101 Technical Report on
the Barsele Project with an effective date of February 21, 2019, was filed on SEDAR on
December 16, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
This news release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
laws. Forward-looking information and forward-looking statements
(together, "forward-looking statements") are frequently
characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "potential",
"possible" and other similar words, or statements that certain
events or conditions "may", "will", "could", or "should"
occur.
All such forward-looking statements are based on certain
assumptions and analyses made by management and qualified persons
in light of their experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors management and the qualified persons believe are
appropriate in the circumstances. The forward-looking information
and statements are also based on metal price assumptions and other
assumptions used in the Amended Technical Report. Readers are
cautioned that actual results may vary from those
presented.
In addition, all forward-looking information and statements
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements
including, but not limited to, use of assumptions that may not
prove to be correct, unexpected changes in laws, rules or
regulations, or their enforcement by applicable authorities; the
failure of parties to contracts to perform as agreed; social or
labour unrest; changes in commodity prices; unexpected failure or
inadequacy of infrastructure, the possibility of project cost
overruns or unanticipated costs and expenses, accidents and
equipment breakdowns, political risk, unanticipated changes in key
management personnel and general economic, market or business
conditions, the failure of exploration programs, including drilling
programs, to deliver anticipated results and the failure of ongoing
and uncertainties relating to the availability and costs of
financing needed in the future, and other factors described in the
Amended AIF filed on the Company's profile on SEDAR. Readers are
cautioned not to place undue reliance on forward-looking
information or statements.
This news release also contains references to estimates of
Mineral Resources. The estimation of Mineral Resources is
inherently uncertain and involves subjective judgments about many
relevant factors. Mineral Resources that are not Mineral Reserves
do not have demonstrated economic viability. The accuracy of any
such estimates is a function of the quantity and quality of
available data, and of the assumptions made and judgments used in
engineering and geological interpretation, which may prove to be
unreliable and depend, to a certain extent, upon the analysis of
drilling results and statistical inferences that may ultimately
prove to be inaccurate. Mineral Resource estimates may have to be
re-estimated based on, among other things: (i) fluctuations in the
price of gold; (ii) results of drilling; (iii) results of
metallurgical testing, process and other studies; (iv) changes to
proposed mine plans; (v) the evaluation of mine plans subsequent to
the date of any estimates; and (vi) the possible failure to receive
required permits, approvals and licenses.
Although the forward-looking statements contained in this
news release are based upon what management of the Company believes
are reasonable assumptions, the Company cannot assure investors
that actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the
date of this news release and are expressly qualified in their
entirety by this cautionary statement. Subject to applicable
securities laws, the Company does not assume any obligation to
update or revise the forward-looking statements contained herein to
reflect events or circumstances occurring after the date of this
news release.
Neither 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.
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SOURCE Barsele Minerals Corp.
