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Oceanus Resources Corp.
Summary
| Project: | El Tigre | |
|---|---|---|
| Deposit: | El Tigre | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 9/14/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-9-2016: Oceanus Resources Corp. announces an Exploration/Drilling Update report for its El Tigre deposit at the El Tigre project. Drilling results incl. 121.1m @ 1.02g/t Au, 27.0g/t Ag from 12.4m. HALIFAX, NOVA SCOTIA – September 14, 2016 – Oceanus Res | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David R. Duncan (Internal) | |
| ABSTRACT: | HALIFAX, NOVA SCOTIA – September 14, 2016 – Oceanus Resources Corporation (TSXV:OCN) ("Oceanus" or the “Company”) reports assay results from the first seven HQ-size core holes drilled during July and August, 2016 on its 100% owned El Tigre Property in Sonora, Mexico. For the seven drill holes true width has not been calculated for the intercepts, but true width is generally estimated at 75-90% of drilled width. Drill assays were composited by length-weighted averaging into intersections using a 0.2 g/t gold equivalent cut-off grade. The gold equivalent ratio is based on a gold to silver price ratio of 75:1. Oceanus mobilized the diamond drill and crew in early July and to date have completed 11 holes totaling 2,000 meters of HQ size core. The purpose of the drilling program is to determine the full extent of the mineralization in the hanging wall and footwall of the deposit, to confirm the geological continuity of the mineralization and to collect fresh core for metallurgical test work. The majority of the holes were drilled between Sections 4200N and 3950N in the central portion of the 1.6 kilometer long deposit. One hole, ET-16-084, was drilled on Section 4975N to test for possible mineralization along the Seitz Kelly vein. Glenn Jessome, President and CEO of Oceanus, commented “Our drilling at El Tigre adds and confirms wide zones of precious metals mineralization that demonstrates potential as a bulk tonnage target. The Oceanus technical team believes that El Tigre could be another significant bulk tonnage project in the Sierra Madre Occidental.” | |
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