Oceanus Increases Land Package at El Tigre Project by 20%
Oceanus Increases Land Package at El Tigre Project by 20%
HALIFAX, March 26, 2018 /CNW/ - Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF)
("Oceanus" or the "Company") is pleased to announce that it has added 4,465 hectares to its El Tigre
claim package. This represents an increase of 20% for a total land package of 26,307 hectares.
The regional mapping project that was recently carried out to the south of Gold Hill demonstrated that the
El Tigre Formation continues along strike in a southeastern direction for an additional 5 kilometres to the
Lluvia de Oro prospect. Tunnels exposing quartz veins with the same alterations and mineralization as
observed in the existing El Tigre area and assays demonstrate significant potential for additional near-
surface mineralization in this newly defined area. As a result, the Company has elected to acquire the
additional land holdings.
El Tigre Property
The El Tigre Property is approximately 35 kilometres long and now comprises 26,307 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 zone. The veins dip steeply to
the west and are typically 1 metre wide but locally can be up to 5 metres in width. The veins, structures
and mineralized zones outcrop on surface and have been traced for a distance of 5.3 kilometres along
strike. Historical mining and exploration activities focused on a 1.5 kilometre portion of the southern end
of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. Four veins in the north (Aguila,
Escondida, Fundadora and Protectora) were explored with only limited amounts of production.
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 million ounces of
silver from 1.87 million 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 has intersected similar-style gold-silver mineralization in the El Tigre
formation at the Protectora, Caleigh and Fundadora areas to the north of the old mine as well as to the
south, past Gold Hill.
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 reviewed and approved the scientific and technical
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, royalty free El Tigre property located in Sonora. A maiden
resource estimate for the El Tigre project was reported 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 inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver
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 managed by a team of mine finders with
extensive experience exploring and developing large hydrothermal gold projects in Mexico. Oceanus is
currently exploring the El Tigre Property in the Sierra Madre Occidental.
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 mineralization, resources and reserves, the ability to convert inferred resources to indicated
resources, 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
plans 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", "projection", "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 assumptions, there can be no assurance
that such statements 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
materially from Oceanus's expectations include risks and uncertainties 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 described from time to time in the filings made
by Oceanus with securities regulators.
SOURCE Oceanus Resources Corporation
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%SEDAR: 00030449E
For further information: Tania Shaw, Vice President, Investor Relations, 416 419 2750,
CO: Oceanus Resources Corporation
CNW 08:00e 26-MAR-18