Oceanus Announces 2019 Exploration Program at the El Tigre GOLD-Silver Property IN Sonora, Mexico
NEWS RELEASE
OCEANUS ANNOUNCES 2019 EXPLORATION PROGRAM AT
THE EL TIGRE GOLD-SILVER PROPERTY IN SONORA, MEXICO
HALIFAX, NOVA SCOTIA – September 11, 201 9 – Oceanus Resources Corporation (TSXV:OCN and
OTCQB:OCNSF) ("Oceanus" or the “Company”) announces the commencement of the 2019 exploration
program at its 100% owned El Tigre Gold-Silver Property located in Sonora, Mexico. The El Tigre Property is
located in north‐eastern Sonora State, approximately 90 kilometers south‐southeast of Douglas, Arizona.
The El Tigre Property 43-101 complaint resource estimate that Oce anus compl eted and filed in 2017 is
comprised of indicated resources totaling 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51
g/t gold) and inferred resources totaling 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52
g/t gold). The complete National Instrument 43-101 technical report is available on the Company’s websi te
and on SEDAR under the Company’s profile.
2019 Exploration Program
Following the completion of the El Tigre resource estimation in September 2017, Oceanus directed its
exploration efforts during 2018 at identifying other areas of gold -silver mineralization across the expansive
property holdings (21,774 hectares). The 2018 prospecting and mapping program identified in excess of 10
kilometers of favorable host stratigraphy (i.e. the El Tigre formation) with several areas of mineralization
identified to t he south, east and north -east of the old El Tigre Mine. The El Tigre formation is the rock
package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was reported to have
produced a total of 353,000 ounces of gold and 67.4 millio n ounces of silver from 1.87 mill ion tonnes
averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012).
Oceanus' drilling after filing its ’ 43-101 compli ant resource estimate intersected similar -style gold -silver
mineralization in the El Tigre formation at the Protectora , Caleigh (new discovery b y Oceanus) and
Fundadora (exploration drifting by Anaconda Mining in 1983) areas to the north of the old mine , as well as
to the south, past Gold Hill (refer to map below). Drilling to the north of the old mine late in 2017 returned
the following impressive gold-silver intercepts:
Hole ID Comment From To Length(1) Au Ag AuEq(2)
(meters) (meters) (meters) (g/t) (g/t) (g/t)
ET-17-144 88.25 91.40 3.15 10.1 1,990.9 36.6
including 88.25 89.10 0.85 37.2 7,338.9 135.1
and 188.65 190.15 1.50 0.024 1,107.3 14.8
ET-17-145 28.50 29.25 0.75 10.9 2,830.4 48.7
ET-17-148 90.10 90.60 0.50 9.83 2,247.1 39.8
These diamond drill holes were some of the last holes drille d by Oceanus with no follow up work in this
area having been undertaken. The Company has recentl y mobilized the exploratio n team back to the
property to continue prospecting and mapping , as well as , sampling in area of the Caleigh v ein. The
objective of this program is to establish drill targets.
Map of El Tigre Concessions
2018 Exploration Summary
The 2018 Phase 1 prospecting and mapping program was carried out to the south of Gold Hill a nd
demonstrated that the El Tigre Fo rmation continues along strike in a southeasterly direction for an
additional 5 kilomet ers to the Lluvia de Oro prospect. Tunnels exposing quartz veins with the same
alterations and mineralization as observed in the exis ting E l Tigre area, and assays, demo nstrated
significant potential for additional near -surface mineralization in this newly defined area. The El Tigre
Formation was also identified a further 3 kilomet ers to the south at La Mancha where old workings were
located.
The Phase 2 prospecting and mapping program was carried out on the eastern sid e of the mountain. The
team located several historic underground workings in this area (Santa Maria) that followed mineralized
quartz veins similar to the old El Tigre Mine, as well as, outcropping of vein mineralization.
The Phase 3 prospecting and mapping program was carried out to north -east of the resource area o n the
new claims and identified outcropping of the El Tigre Formation in several areas.
35 Km
6 Km
El Tigre Property
The El Tigre Property is approximately 35 kilometres long and comprises 21,744 hectares. The El Tigre gold
and silver deposit is related to a series of high-grade epithermal veins controlled by a north -south trending
structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a
broad gold and silver mineralized prophylitic alternation z one. The veins dip stee ply to th e west and are
typically 1 metre wide but locally can be up to 5 metre s in width. The veins, structures and mineralized
zones outcro p on s urface and have been traced for a di stance of 10 kilometres along strike. Historical
mining and exploration activities focused on a 1.5 kilomet er portion of the southern end of the deposits,
principally on the El Tigre, Seitz Kelly and Sooy veins (El Tigr e Mine ). Four veins in the north (Ag uila,
Escondida, Fundadora and Protectora) were explored with only limited amounts of production.
A maiden resource estimate for the El Tigre Property was reported by Oceanus on September 13, 2017
containing ind icated resources of 661,000 gold equivalen t ounces at 0.77 g/t (21 g/t silver and 0.51 g/t
gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold).
The complete National Instrument 43 -101 technical repor t is available on the Company’s website and on
SEDAR under the Company’s profile.
Qualified Person
David R. Duncan, P. Geo, Vice President, Exploration of the Company, is the qualified person for Oceanus as
defined under NI 43 -101. Mr. Duncan has reviewe d and approved the scientific and tec hnical information
in this news release.
About Oceanus Resources Corporation
Oceanus Resources Corporation is a gold exploration and development company operating in Mexico, with
100% ownership of the 35-kilometre-long, roy alty f ree El Tigre property located in Sonora . A maiden
resource estimate for the El Ti gre project was report ed on September 13, 2017 and filed on SEDAR on
October 26, 2017 containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver
and 0.51 g/t gold) and infe rred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silv er and
0.52 g/t gold). The full National Instrument 43 -101 technical report is posted to the Company’s website,
and can also be accessed by clicking here. Oceanus is manag ed by a team of mine finders with extensive
experience exploring and developing large hydrothermal gold projects in Mexico. Oceanus is curre ntly
exploring the El Tigre Property in the Sierra Madre Occidental.
For further information, please contact:
Glenn Jessome
President and Chief Executive Officer
Tel: 902 492 0298
Email: [email protected]
CAUTIONARY STATEMENT:
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.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact included in
this release, including, without limitation, statements regarding potential mineral ization, resources and reserves, the ability to
convert inferred resources to indicated resour ces, the ability to complete future drilling programs and infill sampling , the ability to
extend resource blocks, the similarity of mineralization at El Tigre to the Ocampo mine, exploration results, and future pl ans and
objectives of Oceanus, are forward -looking statements that involve various risks and uncertainties. Forward -looking statements are
frequently characterized by words such as “may”, “is expected to”, “anticipates”, “estimates”, “intends”, “plans”, “p rojection”,
“could”, “vision”, “goals”, “objective” and “outlook” and other similar words. Although Oceanus believes the expectations expressed
in such forward -looking statements are based on reasonable as sumptions, there can be no assurance that such stat ements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materia lly from Oceanus’s expectations include risks and u ncertainties
related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating
in a foreign jurisdiction as well as additional risks des cribed from time to time in the filings made by Oceanus with sec urities
regulators.