Barsele Announces the Resumption of Diamond Drilling Activities Coring was initiated on June 2nd
June 7, 2021 A Belcarra Group Company
Barsele Announces the Resumption of Diamond Drilling Activities
Coring was initiated on June 2nd
• Diamond drilling is budgeted for 3,000 metres (25 holes) and will test for Orogenic Gold and
Volcanogenic Massive Sulphides.
• Drilling will commence west northwest of Risberget and southeast of Skiråsen to test
Orogenic Gold targets (planned 2 holes), followed by a test of the following targets.
• Induced Polarization/Electromagnetic/Magnetic targets at the new precious and base metal
discoveries at Bastuträsk (planned 5 holes).
• Regional Orrträsket West MEFFA (Multi Element Fine Fraction Analysis) anomalies (planned 2
holes).
• Regional Djupsmyrberget (Norra-type) VMS targets (planned 2 holes).
• Norra-proximal VMS targets (planned 3 holes).
• If meterage is available, drilling will test the Södra Sundträsket MEFFA anomalies, Avan high-
grade gold extensions and potential intrusion related gold targets at Sör-Sjöliden.
• The winter BOT (base of till) sampling program has been completed with 57 holes drilled and
185 samples collected.
• Reprocessing of three Titan -24 deep penetrating Induced Polarization survey lines over the
Central-Avan-Skiråsen zones has revealed deep penetrating sub-vertical structures hosting an
anomalous conductive zone at depths up to 1,500 metres below surface.
• Preliminary ore sorting studies have indicated Avan -weak, Central -medium and Skiråsen-
good, ore sorting potential.
• Stringent COVID-19 protocols continue to be enforced, in order to keep the workers and the
people living in the surrounding communities safe.
Vancouver, BC – Barsele Minerals Corp. – (TSXV: BME) (“Barsele”, “Company”) is pleased to provide an operational
update regarding ongoing 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.
Barsele Announces the Resumption of Diamond Drilling Activities
June 7, 2021
On May 12, 2021, Barsele announced that it has executed a non-binding letter of intent with Agnico Eagle to acquire
Agnico Eagle’s indirect 55% interest in the Barsele Project (the “Proposed Transaction ”). The Company currently
holds the remaining 45% in the Barsele Project and upon completion of the Proposed Transaction, would consolidate
100% control. The completion of the Proposed Transaction will be governed by the terms of a definitive agreement
to be entered into between Barsele and Agnico Eagle. Please see the May 12 - News Release for all of the details on
the Proposed Transaction.
Between January 1 and May 31, 2021, Agnico Eagle personnel and certain contractors have continued with office-
related and field-specific exploration activities at a number of exploration sites throughout the property. Work has
included geophysical surveys, base of till sampling, plus a MEFFA (multi-element fine fraction analysis) surface till
data interpretation, utilizing automated XRF scanning to define precious/base metal anomalous areas in preparation
for this year’s diamond drill testing.
Site personnel have also been focused on the project database, with emphasis on lithogeochemical and structural
reinterpretation of all pre-2021 drill core, toward vectoring in on sectors of the Avan-Central-Skiråsen zones,
exhibiting superior gold grades, as well as outlying VMS targets. New mineralized structural and stratigraphic trends
are emerging for both deposit types . Work has als o involved studies related to high -grade gold occurrences
associated with certain elements, minerals and alteration phases.
Diamond drilling by Agnico Eagle since 2015, within the 34,533.32-hectare property totals 155,345 metres of
overburden penetration and core collection from a total of 404 drill holes. MK Drilling of Finland has been retained
to carry out the 2021 diamond drilling campaign.
Barsele’s President, Gary Cope states; “I am extremely pleased that diamond drilling has resumed at B arsele. I am
confident that the Agnico Eagle technical team has outlined top quality targets for both “Orogenic Gold” and
Volcanogenic Massive Sulphide “VMS” styles of mineralization, while we work to close the Proposed Transaction.”
The technical information in this news release was verified by way of a site visit in January of 2020 by the Qualified
Person, wherein certain data and protocols were discussed with the site management and the technical staff and
the database was reviewed and drill core and till sampling material and handling procedures were examined . Since
the last visit, updates have been via detailed monthly reports and video conferencing between Barsele management
and Agnico Eagle management. Agnico Eagle maintains comprehensive quality control/quality assurance protocols.
Sample results referred to in recent News Releases have been tested at independent MS Analytical Service, wherein
core cutting, 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
element 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 th is property. Current and
past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.
Barsele Announces the Resumption of Diamond Drilling Activities
June 7, 2021
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 2, 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 compa ny 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 21st, 2019, was filed on SEDAR
on April 2nd, 2019. This NI 43-101 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 x228, email
[email protected] or visit our website at www.barseleminerals.com.
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, rec eipt 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 anticipate d 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.