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Oceanus Resources Corp.
Summary
| Project: | El Tigre | |
|---|---|---|
| Deposit: | El Tigre | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Zinc-Lead | |
| Date: | 6/29/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2017: Oceanus Resources Corp. announces an Exploration/Drilling Update report for its El Tigre deposit at the El Tigre project. Drilling results incl. 0.85m @ 2.84% Cu, 4.06% Zn, 1.38% Pb from 50m. HALIFAX, Nova Scotia, June 29, 2017 (GLOBE NEWSWIRE) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David R. Duncan (Internal) | |
| ABSTRACT: | HALIFAX, Nova Scotia, June 29, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) ("Oceanus" or the “Company”) reports it has received the final assay results for step-out drill hole ET-17-144. As previously released, this hole returned 0.85 meters of 135.1 g/t gold equivalent consisting of 37.2 g/t gold and 7,338.9 g/t silver. Oceanus now reports the base metal results for drill hole 144. Drill hole ET-17-144 returned 0.85 meters of 2.84% copper, 4.06% zinc and 1.38% lead. The mineralized zone consists of several vuggy quartz veins and veinlets carrying galena, sphalerite, chalcopyrite, stromeyerite and pyrite within a strongly silicified and kaolinized alteration zone. The true width of the vein is estimated to be 0.80 meters and the gold equivalent ratio is based on a goldto-silver ratio of 75:1. Glenn Jessome, President and CEO of Oceanus reports, “The bonanza style high grade gold-silver-base metal mineralization in the Protectora vein is an exciting new discovery on the El Tigre property. This could be a new clavos along the El Tigre structure and our exploration team are mapping and sampling the underground workings in advance of drilling this new discovery this summer.” Oceanus has completed the 2016-17 infill drilling program at El Tigre with a total of 62 diamond drill holes totalling 11,923.1 meters. The purpose of this drill program was to support a NI 43-101 resource estimation for the El Tigre Property. The results from the Oceanus drilling, prior drilling and other data will be incorporated into the resource estimate to be released in July, 2017. | |
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