A Belcarra Group Company Barsele Regional Exploration Discovers New High-Grade Gold Bearing Boulder
A Belcarra Group Company
Barsele Regional Exploration Discovers New High-Grade
Gold Bearing Boulder
• A high-grade boulder assaying 90.8 g/t Au was found 150 meters up-ice, to the northwest,
along a known boulder trail discovered in 2016.
• This boulder occurs south -southeast from the trend of the Avan -Central Skiråsen zones.
Follow-up Meffa results indicate arsenic anomalies in the area.
• Stringent COVID-19 protocols continue to be enforced, in order to keep the workers and
the people living in the surrounding community safe.
January 13, 2022: Vancouver, BC, Barsele Minerals Corp. (TSX.V: BME) (the “Company” or “Barsele”) is pleased to
provide an operational update regarding 2021 exploration activities within the Barsele Gold -VMS Project area in
Västerbottens Län, Northern Sweden (the “ Barsele Project”). The exploration program is being 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.
A mineralized boulder trail discovered in 2016 and lying to the southeast of the trend of the Avan-Central-Skiråsen
zones was followed up by additional work, including Meffa soil sampling and boulder prospecting in late 2021.
Another high-grade boulder of 90.8 g/t Au was found about 150 meters up-ice to the northwest of previous boulder
discoveries. This new boulder is over one meter in diameter and is subrounded to rounded and composed of quartz-
sulphide (mainly pyrrhotite with some arsenopyrite) breccia in fine -grained granodioritic host rock. It is interpreted
to be similar to the other boulders found in the area. The high -grade sample did not contain any other significant
grades except for Fe and S (25.8 g/t Ag, 589 ppm As, 517 ppm Cu, 7.48% Fe, 47 ppm Pb, 3.83% S, 14 ppm Sb, 44 ppm
Zn).
Preliminary Meffa (multi element fine fraction analysis) soils indicate discontinuous arsenic anomalies in the area.
The possible sources of the boulders could be either the area of the disappearance of the arsenic anomaly
approximately 100 meters northwest from the high -grade boulder, or the Barsele gold deposit itself. The first area
is dominated by a volcanic-sedimentary sequence, with possible presence of narrow granodioritic intrusions. There
is also a graphite-sulphide bearing horizon present in the area, that can cause base-metal anomalies.
Barsele Regional Exploration Discovers New High-Grade Gold Bearing Boulder
January 13, 2022
Page 2
Figure 2. High-grade boulder of 90.8 g/t Au southeast from the Skiråsen Zone.
Barsele Regional Exploration Discovers New High-Grade Gold Bearing Boulder
January 13, 2022
Page 3
Barsele’s President, Gary Cope states; “This exciting new high -grade boulder discovery could indicate a new, source
of gold mineralization at Barsele, or a southerly fault -related displacement of the Skiråsen Zone. More prospecting,
sampling, geophysics and drilling is required in 2022.”
The technical information in this news release has been verified by way of updates from detailed monthly reports,
telephone calls and video conferencing amongst Barsele management and Agnico Eagle management. During the
meetings, data and protocols are discussed with the site management and the technical staff and the database is
reviewed and updated and drill core and till sampling material and handling procedures are documented. Agnico
Eagle maintains comprehensive quality control/quality assurance protocols.
All samples referred to in this news release were tested at independent MS Analytical Service, wherein core sawing
and sample preparation is carried out in Storuman, Sweden and the analyses of both Au and multi-element analysis
is completed in Canada. The assay method is SWED-Edh-6, which comprises:-FAS-121, Au fire assay-AA on 50 gram-
above 3 ppm Au fire assay -gravimetric; FAS-425, Au by fire assay and gravimetric finish 50 -gram nominal sample
weight; IMS-230, 48 eleme nt four-acid digestion ICP -MS; ICF-6Xx, default over limit methods for ICF -6Ag, ICF-6As,
ICF-6Cu, ICF-6Pb, ICF-6Zn, SPM-210 (S); FAS-418, Ag by fire assay and gravimetric finish for Ag above 1,000 ppm. For
semi-massive to massive sulphide rock, ICP -130 aqua regia is used for multi element analysis, instead of the four -
acid digestion.
As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders
in the Barsele Project area. Basic environmental assessment and surface water characterization, species studies and
hydrogeology studies are ongoing.
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.
On February 21 st, 2019 (the effective date), Barsele released an independently verified Mineral Resource Estimate
that was completed by Quebec -based InnovExplo Inc., for the purposes of the Company. This NI 43 -101 Technical
Report and Mineral Resource Estimate (Amended) for the Barsele Property was modified and resubmitted effective
December 16 th, 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 20 18 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 mini ng 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 structura l 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 met al content and occurs
often as native metal.
Barsele Regional Exploration Discovers New High-Grade Gold Bearing Boulder
January 13, 2022
Page 4
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 2 nd, 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
For further information, please contact Barsele Minerals Corp. at 604-687-8566, email [email protected]
or visit our website at www.barseleminerals.com.
This News Release may contain forward -looking statements including but not limited to com ments 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.