Barsele Expansion drill hole SKI18007 at the Skiråsen Zone intersects Five Mineralized Intervals, including 15.0 metres grading 3.74 g/t gold. At the Central Zone, near-surface infill hole CNT18009 cut 57.0 metres grading 1.60 g/t gold.
November 14, 2018 A Belcarra Group Company
Barsele Expansion drill hole SKI18007 at the Skiråsen Zone intersects Five
Mineralized Intervals, including 15.0 metres grading 3.74 g/t gold.
At the Central Zone, near-surface infill hole CNT18009 cut 57.0 metres grading 1.60 g/t gold.
• CNT18008, a near-surface infill hole, intersects 58.1 metres grading 1.37 g/t gold.
Vancouver, BC – Barsele Minerals Corp. – (TSXV: 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 a pre-feasibility study is completed.
Three drills were operational during the month of August, 2018. As of the end of August, 27,346 metres of core has been
collected from 66 completed holes, since drilling was re -started in early January. The main focus of this month’s drilling
has been on regional targets within the Risberget and Skirliden areas, as well as proximal and regional VMS targets.
Seven drill holes are presented in this news release . At the Avan Zone, one expansion hole is documented, along with
three infill and two expansion holes at the Central Zone and one expansion hole southwest from the Skiråsen Zone. Three
regional exploration holes were completed at the Risberget Zone, with one ongoing at month end. At the Skirliden area,
along the southeastern extension of Lake Skirträsket, three regional exploration holes were completed , including two
covering VMS targets. Additionally, six regional VMS holes were completed in other sectors of the property. Base of till
drill testing continued in August, with 663.5 metres probed in 75 holes. Regional surface till sampling was ongoing, with
340 samples collected.
At the Central Zone, drill hole CNT18008 intersected two shallow gold-bearing zones, with the best intercept being 58.1
metres (estimated true thickness) grading 1.37 g/t gold, at a midpoint depth of 65 metres below surface. Hole CNT18009
cut 57.0 metres (estimated true thickness) grading 1.60 g/t gold at a midpoint depth of 6 5 metres below surface. Hole
CNT18010 intersected three shallow gold-bearing zones; including 19.0 metres (estimated true thickness) grading 1.27 g/t
gold, at a midpoint depth of 20 metres below surface, plus 4.0 metres (estimated true thickness) grading 3.57 g/t gold, at
a midpoint depth of 40 metres below surface and 53.0 metres (estimated true thickness) grading 1.03 g/t gold, at a
midpoint depth of 75 metres below surface.
At the Skiråsen Zone, hole SKI18007 cut five gold-mineralized intervals with the highlight intercepts being 4.0 metres core
length (estimated 1.0 metre true thickness) grading 10.09 g/t gold, at a midpoint depth of 150 metres below surface, plus
19.0 metres core length (estimated 6.3 metres true thickness) grading 2.2 0 g/t gold, at a midpoint depth of 280 metres
below surface, plus 15 .0 metres core length (estimated 5.5 metres true thickness) grading 3.74 g/t gold at a midpoint
depth of 355 metres below surface.
Barsele’s President, Gary Cope states; “Along with drill testing the Avan, Central and Skiråsen zones, drilling also focused
on regional targets at the Risberget Zone, as well as five VMS target areas within the large claim block.”
August 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)
AVA18010 617790.202 7215017.09 221 -47 413.50
Expansion no significant intersections
CNT18008 618661.89 7214962.99 270 -47 125.10 35.00 50.00 15.00 15.0 1.22
Infill 67.00 125.10 58.10 58.1 1.37
CNT18009 618661.85 7214942.91 271 -47 124.65 66.00 123.00 57.00 57.0 1.60
Infill
CNT18010 618663.37 7214983.13 270 -47 134.40 15.00 34.00 19.00 19.0 1.27
Infill 56.00 60.00 4.00 4.00 3.57
74.00 127.00 53.00 53.0 1.03
CNT18011 618144.21 7214322.53 40 -47 250.50
Expansion no significant intersections
CNT18012 618974.03 7214664.27 329 -52 551.40
Expansion Assays pending
SKI18007 619200.41 7214624.61 330 -73 390.60 83.00 91.00 8.00 2.10 1.07
Expansion 159.00 163.00 4.00 1.00 10.09
287.00 306.00 19.00 6.30 2.20
343.00 351.00 8.00 2.80 2.30
368.00 383.00 15.00 5.50 3.74
Az = Compass Bearing Dip = Degrees Inclined CL = Core Length TL = Est. True Length Top Cut varies 40-18 g/t
The technical information in this news release was verified by way of a site visit in late September of 2018, by the Qualified
Person, wherein the data was discussed with the site management and the 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. Bas ic 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 th e Proterozoic “Skellefte Trend”; a prolific volcanogenic massive
sulphide deposits belt, that 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 produc ers 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 and the Skirliden area, as well as numerous VMS targets throughout
the large claimed area.
The main gold-bearing system remains open in all directions. The structurally-linked mineralized zones occur within
granodiorite-volcanic-sedimentary host rocks and 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.