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Oceanus Resources Corp.
Summary
| Project: | El Tigre | |
|---|---|---|
| Deposit: | El Tigre | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 6/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-6-2017: Oceanus Resources Corp. announces an Exploration/Drilling Update report for its El Tigre deposit at the El Tigre project. Drilling results incl. 3.15m @ 10.1g/t Au, 1990.9g/t Ag from 88.25m. HALIFAX, NOVA SCOTIA – June 7, 2017 – Oceanus Resource | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David R. Duncan (Internal) | |
| ABSTRACT: | HALIFAX, NOVA SCOTIA – June 7, 2017 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) ("Oceanus" or the “Company”) reports that step-out hole ET-17-144 at its 100% owned El Tigre Property in Sonora, Mexico intersected high-grade gold and silver mineralization in the Protectora vein. Hole ET-17-144 returned 3.15 meters of 36.6 g/t gold equivalent from a depth of 88.25 meters to 91.40 meters consisting of 10.1 g/t gold and 1990.9 g/t silver. This intercept included 0.85 meters of 135.1 g/t gold equivalent consisting of 37.2 g/t gold and 7,338.9 g/t silver. Hole ET-144 also returned 1107.36 g/t silver and 0.024 g/t gold over 1.5 meters from a depth of 188.65 meters to 190.15 meters. 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. Drill hole ET-17-144 is located approximately 800 meters north of the end of the old El Tigre mine where the Camp is located. The hole was drilled to test the Protectora vein at a shallow depth. The map attached as Appendix A is 6 kilometers of the 35 kilometer long El Tigre Property and shows the location of drill hole ET-17-144. In this drill hole the Protectora vein is hosted by a brecciated, dark grey fragmental tuff of the El Tigre Formation. The mineralized zone consists of several vuggy quartz veins and veinlets carrying galena, sphalerite, chalcopyrite, stromeyerite and pyrite. | |
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