VANCOUVER, BC, Nov. 10, 2021 /CNW/ - Barsele
Minerals Corp. (TSXV: BME) (the "Company" or
"Barsele") is pleased to provide an update for the Barsele
Gold-VMS Project area in Västerbottens Län, Northern Sweden (the "Barsele
Project").
Effective September 30, 2021, the
Swedish Geological Survey (SGU) has designated the land area
hosting the Avan-Central-Skiråsen (CAS) "Orogenic Gold" system, as
well as the land area surrounding the Norra "VMS" deposit, a land
and water area of National Interest under Chapter 3, Section 7 of
the Swedish Environmental Code (MB). This National Interest area
comprises 685 hectares. The National Interest designation of
valuable substances or materials serves as a planning instrument
and provides guidance to the general public and relevant planning
authorities that valuable substances or materials of National
Importance occur in the area, and consequently must be protected
against significant encroachment or restrictions for future mining
activities. This is a positive step in an evolving permitting
process, with more work to be done.
Barsele's President, Gary Cope
states; "We are very pleased with the demarcation of 685
hectares of the Barsele Project being classified as National
Interest. We look forward to future advances in mineral resource
definition and permitting."
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.
The exploration program at the Barsele Project is operated by
joint venture partner Agnico Eagle Mines Limited – (TSX,
NYSE: AEM) ("Agnico Eagle"). Ownership in the Barsele
Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn
an additional 15% in the Barsele Project through the completion of
a pre-feasibility study. There is no cash outlay requirement by
Barsele until a pre-feasibility study is completed.
On February 21st, 2019
(the effective date), Barsele released an independently verified
Mineral Resource Estimate that was completed by Quebec-based InnovExplo Inc., for the purposes
of Barsele. This NI 43-101 Technical Report and Mineral Resource
Estimate (Amended) for the Barsele Property was modified and
resubmitted effective December
16th, 2020. The Amended Technical Report contains
no material differences to the original technical report filed on
April 2nd, 2019.
The study concluded that drilling to the end of 2018 along the
Avan–Central–Skiråsen gold zones at a 0.50 g/t gold cut-off for a
pit constrained extraction mining method, a 1.50 g/t gold cut-off
for a bulk underground extraction mining method, a 1.80 g/t cut-off
for a selective underground extraction mining method, has in
combination, outlined an Inferred Resource of 25,495,000 tonnes
grading 2.54 g/t gold (2,086,000 ounces of contained gold) and an
Indicated Resource of 5,578,000 tonnes grading 1.81 g/t gold
(324,000 ounces of contained gold).
The main gold-bearing system remains open in all directions. The
structurally linked gold mineralized "lodes" occur mainly within a
granodiorite host and to a lesser extent, volcanic and sedimentary
rocks. Multiples of parallel to sub-parallel "lodes" that vary in
width from 10 metres to 100 metres, combine for a maximum known
thickness (including low grade-waste islands) of 425 metres. The
Avan–Central–Skiråsen zones have a strike length approaching 3.6
kilometres and that same northwest trending structural corridor
does contain localized bodies with gold mineralization over an
additional 4.4 kilometres. The drill tested depth of the
mineralized system approaches 1.0 kilometre and remains open. Gold
is generally associated with arsenopyrite and low base metal
content and occurs often as native metal.
Art Freeze, P.Geo. is the
Qualified Person as defined in NI 43-101 and takes
responsibility for the technical disclosure contained within this
news release.
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. An updated NI 43-101 Technical
Report on the Barsele Project with an effective date of
February 21st, 2019, was
filed on SEDAR on April
2nd, 2019. This NI 34-101 Technical Report and
Mineral Reserve Estimate (Amended) for the Barsele Property was
modified and filed on SEDAR on December 16,
2020.
On Behalf of the Board of
Directors
Gary Cope
President and CEO
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements and Barsele undertakes no obligation
to update such statements, except as required by law.
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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content:https://www.prnewswire.com/news-releases/barsele-gold-deposit-and-norra-vms-deposit-areas-designated-as-national-interest-301421350.html
SOURCE Barsele Minerals Corp.
