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Oceanus Resources Corp.
Summary
| Project: | El Tigre | |
|---|---|---|
| Deposit: | El Tigre | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 9/13/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-9-2017: Oceanus Resources Corp. announces a Resource Estimation report for its El Tigre deposit at the El Tigre project. Updated mineral resource estimate at El Tigre. HALIFAX, NOVA SCOTIA – September 13, 2017 – Oceanus Resources Corporation (TSXV:OCN | |
| Resources: | (Resource): 26.847Mt @ 21g/t Ag, 0.51g/t Au (Ind.) and 6.68Mt @ 88g/t Ag, 0.52g/t Au (Inf.) | |
| CP/QP: | [Resources]: Fred Brown, Eugene Puritch (P&E Mining Consultants Inc.) | |
| ABSTRACT: | HALIFAX, NOVA SCOTIA – September 13, 2017 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) ("Oceanus" or the “Company”) announces an independent Mineral Resource Estimate for the El Tigre Property completed by P&E Mining Consultants Inc. ("P&E") which is detailed in Table 1 below. The El Tigre Property, located in Sonora, Mexico, is owned and operated by Oceanus Resources, and includes the El Tigre1 , Fundadora2 and El Tigre Tailings3 Deposits. The El Tigre Mineral Resource Estimate includes extensions of the historical El Tigre and Seitz Kelly Veins1 , as well as the mineralized breccia halo around the El Tigre Vein. The Fundadora Mineral Resource Estimate includes the Aquila, Fundadora, Protectora and Caleigh Veins2 . The gold Mineral Resource Estimate hosted in 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 one metre wide, however, locally can be up to five 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 (Aguilas, Escondida, Fundadora and Protectora) were explored with only limited amounts of production. | |
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