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Oceanus Resources Corp.
Summary
| Project: | El Tigre | |
|---|---|---|
| Deposit: | El Tigre | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/18/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2016: Oceanus Resources Corp. announces an Exploration/Drilling Update report for its El Tigre deposit at the El Tigre project. Drilling results incl. 95.6m @ 1.17g/t Au, 13.2g/t Ag from 0.0m. HALIFAX, NOVA SCOTIA – October 18, 2016 – Oceanus Resour | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David R. Duncan (Internal) | |
| ABSTRACT: | HALIFAX, NOVA SCOTIA – October 18, 2016 – Oceanus Resources Corporation (TSXV:OCN) ("Oceanus" or the “Company”) reports additional assay results from the ongoing diamond drilling program on its 100% owned El Tigre Property in Sonora, Mexico. The 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 has now completed 19 holes totaling 3,127 meters of HQ size core. Results from the first 7 drill holes were announced in the Oceanus News Release dated September 14, 2016. Today’s news release provides the results for the next 9 drill holes (ET-16-090 to ET-16-98). 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, to test the oxidized zone to a vertical depth of 200 meters and to collect fresh core for metallurgical test work. | |
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