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Orsu Metals Corporation (TSXV:OSU) (“Orsu” or the “Company”) is pleased to announce the discovery of the new gold-mineralized zones as part of the 2019 exploration program at its Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation.
Orsu Metals Corporation (TSXV:OSU) (“Orsu” or the “Company”) is pleased to announce the discovery of the new gold-mineralized zones as part of the 2019 exploration program at its Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation.
Highlights:
- At Peak Klyuchi, Orsu discovered and traced new gold-mineralized zones over a 400-meter strike length in drillholes and trenches
- Drillhole SDH19-88A intercepted 1.71 grams per ton (g/t) Au and 16.12 g/t Ag over 6.1 meters and 0.68 g/t Au and 5.77 g/t Ag over 6.5 meters
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “The new gold-mineralized intercepts in drillhole SDH19-88A at Peak Klyuchi clearly demonstrate a significant upside potential of the Sergeevskoe gold project, including higher silver grades, outside the maiden resource envelope. The newly discovered mineralization is part of northwest-trending Peak Klyuchi domain, which was only partially intercepted by Orsu in 2017 in trench STRKZ17-11 and two drillholes SDH17-11 and SDH17-12. Overall this mineralization occurs on strike from the Intermediate domain, some 1350 m from the eastern boundary of the Sergeevkoe license.”
Dr. Sergey Kurzin, the Executive Chairman, noted: “Discovery of the new mineralized zones around Peak Klyuchi domain will extend the mineralized footprint of the deposit by another 400 meters northwest of Kozie occurrence. This is material. This discovery provides a testimony to a potential of the system and our ability to grow it. The purpose of Stage 1 of the 2019 exploration program was to specifically understand where to drill to increase the size of the mineralization. While we have not finished yet Stage 1, we now have a good idea how to achieve this goal in Stage 2 of the 2019 program to commence later this year.“
INTERVIEW: Orsu Metals Director of Exploration: Russia an Optimal, Low-cost Jurisdiction
Orsu continues its previously announced 3500 m drilling and 3000 m trenching programme at Sergeevskoe (see press releases May 29, 2019 and July 2, 2019). In 2019, the Company focused its activity at Peak Klyuchi, Zone 23, deep parts of Intermediate and Kozie domains (Figure 1).
At Peak Klyuchi, Orsu discovered new northwest-striking gold-mineralized zones in trenches and drillholes. This mineralization occurs to the northwest from gold intercepted in Orsu drillholes SDH17-11 and SDH17-12, with in best intercepts of 4.19 g/t Au, 27.42 g/t Ag over 3.5 m and 0.92 g/t Au, 7.61 g/t Ag over 3.95 m, respectively (see press release February 14, 2018). While most assays are pending, Orsu traced this mineralization northwestward over a strike length of 400 m between holes SDH17-11 and SDH19-89, mostly outside the maiden resource envelope (Figure 2).
Figure 1. An outline of the 7.6 sq km Sergeevskoe license area with location of principal gold prospects and adjacent Klyuchevskoe open pit. The area of 2017-2019 exploration works is shown in red.
To date Orsu received complete assays for channel samples from trench STR19-41 and only partial assays for trenches STR19-40 and STR19-42 (Table 1). These assays identified 1.49 g/t Au, 4.4 g/t Ag over 4.8 m in trench STR19-42 (Figure 2). In trench STR19-41 (with silver assays still pending), there are four intervals with 0.93 g/t Au over 9 m, 1.04 g/t Au over 2.3 m, 2.11 g/t Au over 1.8 m, and 1.47 g/t Au over 4m. In trench STR19-40, Orsu intercepted several intervals in the end of the trench with 1.89 g/t Au, 7.2 g/t Ag over 2 m, 2.8 g/t Au, 8.2 g/t Ag over 1 m, and 2.14 g/t Au, 9.43 g/t Ag over 3 m. These latter intervals correspond to additional veins identified to the south of intervals in trench SKZTR17-11 (Figure 2).
Figure 2. Plan view of trenches and drillholes at the Peak Klyuchi domain, Sergeevskoe gold project. Gold-mineralized zone is depicted based on logging of quartz-tourmaline vein cluster that coincides with 0.3 g/t Au cutoff and contacts of diorite porphyry dikes intruding granodiorite porphyry and magmatic and hydrothermal breccia.
Orsu also received partial assays from the middle part of drillhole SDH19-88A and complete assays for drillhole SDH19-87, both intercepting several sulphide-rich quartz-tourmaline veins. In SDH19-88A, these veins returned 1.71 g/t Au, 16.12 g/t Ag over 6.1 m and 0.68 g/t Au, 5.77 g/t Ag over 6.5 m (Figure 3). These veins occur within a wider mineralized envelope that hosts coherent gold mineralization over a 25.12 m core width grading 0.79 g/t gold and 7.24 g/t silver if to apply a 0.3 g/t gold cutoff grade.
Figure 3. Vertical projection across the Peak Klyuchi domain. Note 100 m distance in parallel sections between SDH19-88A and SDH19-87. Gold-mineralized zone is depicted based on logging of quartz-tourmaline vein cluster in drill core and trenches that coincides with 0.3 g/t Au cutoff and dike contacts. See Figure 2 for the legend.
Table 1 shows mineralized intercepts for partial assays available to date from drillholes and trenches. All widths are core or channel width. True width is not known at this time but is estimated at ~70%. All assay values are uncut.
Table 1. Mineralized intercepts in drillholes SDH19-87 and 88A and trench STR19-42 at Peak Klyuchi (above 0.5 g/t Au cut-off).
The above interpretations are based on a 0.5 g/t Au cut-off for compositing of the mineralized intervals, with maximum 2 m core length of 0.3-0.5 g/t Au mineralization included into a mineralized interval. Composited intervals in drill holes are presented uncapped. The assays for some drill holes and trenches are still pending.
Quality Assurance – Quality Control (“QA/QC”)
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all channel and drill core samples. Duplicate samples were inserted after every 20 samples. All standard samples were inserted once per 20 samples. Blanks were also inserted once per 20 samples and consisted of the previously assayed barren granitoid rocks.
Samples were submitted directly to the SGS Vostok and ALS laboratories in Chita, Russia, which are both independent from Orsu, for sample preparation and analysis. Analysis for Au is performed using fire assay method with atomic absorption (“AA”) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au.
Qualified Person
Alexander Yakubchuk, the Company’s Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed and approved the exploration information disclosures contained in this press release.
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.
Cautionary Statement:
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. 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 guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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