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Oceanus Resources Corp.
Summary
| Project: | El Tigre | |
|---|---|---|
| Deposit: | El Tigre | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 5/25/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-5-2017: Oceanus Resources Corp. announces an Exploration/Drilling Update report for its El Tigre deposit at the El Tigre project. Drilling results incl. 67.6m @ 1.24g/t Au, 19.1g/t Ag from 78.5m. HALIFAX, NOVA SCOTIA – May 25, 2017 – Oceanus Resources | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David R. Duncan (Internal) | |
| ABSTRACT: | HALIFAX, NOVA SCOTIA – May 25, 2017 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) ("Oceanus" or the “Company”) reports additional assay results from the 2017 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. The gold equivalent ratio is based on a gold-to-silver price ratio of 75:1. The new assay results are for drill holes ET-17-123 to ET-17-140. Refer to the Oceanus news releases dated September 14, 2016, October 18, 2016, December 14, 2016 and March 6, 2017 for the assay results for the previous drill holes. A map of a portion of the El Tigre Property is attached as Appendix A, a drill hole location map is attached as Appendix B, a table of significant drill intersections is attached as Appendix C and the drill hole location table is attached as Appendix D. Glenn Jessome, President and CEO of Oceanus reports, “The Oceanus drilling has expanded and supports the continuity of the vein and alteration zone between the El Tigre Camp and the south end of Gold Hill, which is a distance of approximately 1,800 meters. The vein and alteration zone remains open along strike to the south, north and at depth. Furthermore, with hole ET-17-133 we have identified a possible new high grade zone at Gold Hill. With holes ET-17-139 and ET-17-140 we have extended the strike length to the south by approximately 500 meters. These drill results further support wide zones of precious metals mineralization that demonstrate potential as a bulk-tonnage target.” | |
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