Barsele Drill Hole SKI18003B at the Skiråsen Zone intersects 27.0 metres grading 4.12 g/t gold At Avan, expansion hole AVA18006 cuts 24.0 metres grading 3.76 g/t gold
August 13, 2018 A Belcarra Group Company
Barsele Drill Hole SKI18003B at the Skiråsen Zone intersects 27.0 metres grading
4.12 g/t gold
At Avan, expansion hole AVA18006 cuts 24.0 metres grading 3.76 g/t gold
• SKI18003 that was abandoned prior to target depth, intersected 2.0 metres grading 29.17 g/t gold
• SKI18002 cuts 6 gold zones with a best hit of 9.0 metres grading 3.76 g/t gold
• CNT18006 intersected 3.0 metres grading 11.12 g/t gold
Vancouver, BC – Barsele Minerals Corp. – (TSX-V: BME) (“ Barsele”) is pleased to report an operational update for the
ongoing exploration program 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 pre-feasibility is completed.
Four drills were operational during the month of June . As of the end of June, 21,717 metres of core has been collected
from 50 completed holes, since drilling was re -started in early January, 2018. Eleven drill holes are listed in this news
release, with results pending for three of those holes. At Avan, four expansion holes are presented, with assays pending
for two of those holes. At Central, four expansion holes are listed, with assays pending for one of those holes. At Skiråsen,
three holes are presented, with one of those holes abandoned and re-drilled. Base of till drill testing is ongoing, along with
regional surface till sampling.
At the Avan Zone, highlight results include AVA18004 which intersected five zones of gold mineralization with a highlight
hit that averaged 2.17 g/t gold along a core le ngth of 14.0 metres (estimated 8.2 metres true thickness) at a midpoint
depth of 215 metres below surface. AVA18006 cut 24.0 metres core length (estimated 14.4 metres true thickness) grading
3.76 g/t gold at a midpoint depth of 200 metres below surface.
At the Central Zone, CNT18003 intersected four gold-bearing zones with the highl ight intercept being 10 .0 metres core
length (estimated 3.4 metres true thickness) grading 2.74 g/t gold a t a midpoint depth of 41 5 metres below surface.
CNT18004 cut two gold bearing zones with a highlight intercept of 3.0 metres core length (estimated 1.7 metres true
thickness) grading 7.17 g/t gold at a midpoint depth of 625 metres below surface. CNT18006 intersected 3.0 metres core
length, (estimated 2.0 metres true thickness) grading 11.12 g/t gold at a midpoint depth of 60 metres below surface.
At the Skiråsen Zone, SKI18002 cut six gold mineralized intervals with the highlight intercept being 9.0 metres core length
(estimated 5.6 metres true thickness) grading 3.76 g/t gold at a midpoint depth of 300 metres below surface. Abandoned
hole SKI18003 cut 2.0 metres core length (estimated 1.2 metres true thickness) grading 29.17 g/t gold uncut (16.5 g/t gold
cut) at a midpoint depth of 30 metres below surface. Hole SKI18003B (a re -collar of 18003), cut four gold mineralized
intervals including 15.0 metres core length (estimated 8.7 metres true thickness) grading 2.16 g/t gold at a midpoint depth
of 490 metres blow surface, plus 27.0 metres core length (estimated 13.5 metres true thickness) grading 4.12 g/t gold
uncut (3.7 g/t gold cut) at a midpoint depth of 560 metres below surface, plus 9.0 metres core length (estimated 5.0
metres true thickness) grading 2.26 g/t gold at a midpoint depth of 580 metres below surface, and an additional 6.0 metres
core length (estimated 3.7 metres true thickness) grading 2.25 g/t gold at a midpoint depth of 715 metres below surface.
Barsele’s President, Gary Cope states; “We continue to be very pleased with the latest results from the expansion drilling
in all three zones, Avan, Central and Skiråsen. These results demonstrate ongoing good grades and thicknesses, at varying
depths throughout the 3.0-kilometre trend. Drilling is now focusing on a variety of targets, including Risberget, and regional
geophysics targets and or anomalous BOT targets, as well as ongoing testing at Avan, Central and Skiråsen.”
June 2018 Drilling Update
Hole ID Easting Northing Az Dip DDH
Length
From
(m)
To
(m)
CL
(m)
TL
(m)
Au
(g/t)
Top
Cut
(g/t)
AVA18002 617319.674 7215318.69 220 -47 327.90
Expansion hole extended
AVA18004 617320.161 7215319.14 41 -56 371.0 38.00 41.00 3.00 1.70 2.94
Expansion 215.00 217.00 2.00 1.20 4.31
254.00 268.00 14.00 8.20 2.17
299.00 306.00 7.00 4.20 1.74
331.00 335.00 4.00 2.40 2.01
AVA18006 617478.224 7215263.72 55 -53 410.60 232.00 256.00 24.00 14.4 3.76
Expansion
AVA18007 617031.49 7215513.37 40 -63 461.20
Expansion assays pending
CNT18003 618310.63 7215263.81 198 -71 779.00 307.00 308.00 1.00 0.30 10.30
Expansion 434.00 444.00 10.00 3.40 2.74
548.00 550.00 2.00 0.70 5.72
571.00 574.00 3.00 1.00 2.25
CNT18004 618284.88 7214748.49 45 -61 914.00 738.00 741.00 3.00 1.70 7.17
Expansion 756.00 760.00 4.00 2.40 1.99
CNT18005 617910.45 7215079.61 53 -62 479.90
Expansion assays pending
CNT18006 617992.96 7215027.99 38 -45 308.20 54.00 68.00 14.00 9.40 0.77
Expansion 79.00 82.00 3.00 2.00 11.12
SKI18002 619350.76 7214412.19 20 -54 701.30 355.00 359.00 4.00 2.50 2.17
Expansion 377.00 386.00 9.00 5.60 3.76
478.00 488.00 10.00 6.30 1.59
509.00 516.00 7.00 4.40 2.07
600.00 610.00 10.00 6.50 1.62
690.00 692.00 2.00 1.30 2.41
SKI18003 619350.19 7214412.85 346 -56 52.60 34.00 36.00 2.00 1.20 29.17 16.50
Expansion
SKI18003B 619349.924 7214414.397 346 -56 890.00 584.00 599.00 15.00 8.70 2.16
663.00 690.00 27.00 13.5 4.12 3.70
704.00 713.00 9.00 5.00 2.26
875.00 881.00 6.00 3.70 2.25
Az = Compass Bearing Dip = Degrees Inclined CL = Core Length TL = Est. True Length Top Cut varies 40-18 g/m
The technical information in this news release was verified by way of site visits in March and June of 2018 by the Qualified
Person, where the data was discussed with the site management and technical staff and the database was reviewed and
drill core was examined. The quality control/quality assurance program at the Barsele Project is described on the Barsele
website at http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.
All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultra trace
level method (ME-MS61)-48 element by using four acid digestion together with ICP -AES and ICP-MS analytical methods.
Gold is tested by fire assay, aqua regia digestion and analysed with an atomic absorption spectroscopy (AAS) or gravimetric
finish depending on grade (Au -AA24 and Au -GRA22). Each method has a lower and upper calibration range for which
results are accurately determined.
As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in
the Barsele P roject area. Basic environmental assessment and surface water ch aracterization, 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, where it intersects with the “Gold Line” in Northern Sweden. Both polymetallic deposits and
intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the
region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.
Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Avan, Central
and Skiråsen zones and recently the Risberget Zone.
This gold system remains open in all directions. These structurally -linked mineralized zones occur withi n granodiorite-
volcanic-sedimentary host rocks that vary in width from 10’s of metres to 500 metres and have been traced over a strike
length exceeding 8.0 kilometres. Gold is generally associated with arsenopyrite and low base metal content, but also
occurs 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 16th,
2018, was filed on SEDAR on April 12th, 2018.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
For further information, please contact Barsele Minerals Corp. at (604) 687-8566 x 228, 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, 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.