Orsu Metals Corporation (TSXV:OSU) (“Orsu” or the “Company”) is delighted to announce excellent drilling results from additional holes at Zone 23, as part of the extended 12,500 meters (‘m’) drilling program at its Sergeevskoe Gold Project in Russia. The program is designed to deliver an estimation of a maiden resource in Q4 2018.
Highlights:
- The Company received the assay results for drill holes SDH18-59, SDH18-62, SDH18-63 and SDH18-64 in the western part of Zone 23 with gold mineralization in all of them
- Drill hole SDH18-63 returned the best intercepts:
￮ 1. 82 g/t Au over 5.05 m from 9.75 m,
￮ 1.19 g/t Au over 14.3 m from 34.65 m,
￮ 2.08 g/t Au over 2.1 m from 52.5 m,
￮ 4.12 g/t Au over 10.25 m from 57.5 m (including 7.25 g/t Au over 6.2 m from 60.10 m),
￮ 1.96 g/t Au over 3.85 m from 81.2 m,
￮ 1.63 g/t Au over 4.95 m from 88.75 m,
￮ 2.37 g/t Au over 9.05 m from 104.5 m, and
￮ 9.92 g/t Au over 0.7 m from 139.05 m
- The drill-proven strike length of gold mineralization at Zone 23 now reached 740 m to a variable depth of 150-250 m, averaging 1.86 g/t Au over a combined drill width of 24.4 m in the Main and Southern stockworks
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “Orsu successfully confirmed the gold mineralization over a strike length of 740 m at Zone 23 in 10 drill sections (including holes drilled in 2017). Drill hole SDH18-63, in particular, returned the best intercepts in Zone 23, in the Main and Southern stockworks, when combined including 3 m wide low grade mineralization, running 2.15 g/t Au over 33 m, just 50 m below surface. The intercepts were received in pursuit of the previously reported +2 g/t Au mineralized shoots. In addition to the Main and Southern stockworks, we identified a New stockwork at the apparent southern periphery of Zone 23. This stockwork remains open to the west, and all stockworks remain unconstrained at depth”.
Dr Sergey V Kurzin, Executive Chairman of Orsu, commented: Excellent holes and excellent news. We reported earlier (see Orsu press-release dated August 22, 2018) drill-proven strike length of over 600 m in Zone 23 and now we have been able to grow it to 740 meters. As a reminder, Zone 23 is a major building block of the Company’s maiden 43-101 resource expected in Q4 2018. The thickness and the grades behave consistently in Zone 23 and are at the higher end of our expectations. We intend to finish this year’s exploration program within 3-4 weeks and will commit fully to producing a maiden resource immediately followed by the Preliminary Economic Assessment. I am quite pleased with the pace of our work on Sergeevskoe.”
As previously reported, the license of the Sergeevskoe Gold Project occurs immediately east from the Alexandrovskoe open pit and gold plant owned by Zapadnaya Gold Mining Ltd and to the west from the Klyuchevskoe gold license owned by Sun Gold Mining (Figure 1)1. The Klyuchevskoe (Klyuchi) gold deposit represents a +6 Moz gold endowment (see Orsu press-release dated September 21, 2016). Orsu owns a 90% interest in the Sergeevskoe Gold Project (see Orsu press-release December 1, 2017).
Figure 1. An outline of the 7.6 sq km Sergeevskoe license area with location of principal gold prospects and two adjacent open pits. (To view the graphic in its original size, please click here)
Orsu previously reported most promising gold mineralization at Zone 23 in the Main and Southern stockworks (see Orsu press-release August 22, 2018) to the south of the Shirotnyi fault. The quartz-tourmaline-sulfide stockworks are hosted primarily in the pre-mineral Permian granite intrusion, whereas mineralization appears to be Jurassic in age, based on 159 million year old Re-Os dating of accessory molybdenum extracted from mineralization.
Both Main and Southern stockworks are now continuously drill-proven from sections 9155E to 9620E (Figure 2). The Main and Southern stockworks change in width along the strike and downdip. The combined average drill width of the two stockworks over a 465 m strike length and 150 to 250 m downdip is 24.4 m grading 1.86 g/t Au. Orsu is confident in interpreting location of the three stockworks relative to the marker of granodiorite porphyry dyke.
Figure 2. Surface expression of multiple west-east-trending gold-mineralized intervals at Zone 23, Sergeevskoe Gold Project, constrained by historical and Orsu data. Although appearing relatively narrow at surface, they become much wider at depth, forming the Main, Southern and New stockworks. (To view the graphic in its original size, please click here)
In addition, drill holes SDH18-63, 64 and 59 intercepted a New stockwork (Table 1; Figures 2 and 3). It appears that its equivalents were also previously intercepted and reported in drill holes SDH18-21, 22, 23, 43, 45a, 29, 25, 26, 27, 28 and SDH17-7. The new intercepts allow tracing the New stockwork for 740 m from the east to the west, remaining open westward and downdip. The stockwork was identified to the south of the hybrid dyke, previously interpreted as a southern limit of the mineralized corridor at Zone 23.
Figure 3. Section 9155E (looking west) showing mineralization in holes SDH18-63 and 64. (To view the graphic in its original size, please click here)
The +2 g/t Au intercepts are now received in four consecutive sections in the Main stockwork and six consecutive sections in the Southern stockwork (Figure 4). They were received pursuing the upward continuation of the higher grade shoots.
Figure 4. Interpretation of gold mineralization in vertical projections of the Main and Southern stockworks (looking north) with eastward-plunging +2 g/t Au mineralized shoots. (To view the graphic in its original size, please click here)
The above interpretations are based on selection of the previously and newly-reported mineralized intervals, based on a 0.5 g/t Au cut-off for compositing, with maximum 2 m length of 0.3-0.5 g/t Au mineralization included into a mineralized interval. Composited intervals in drill holes are …read more
From:: Investing News Network