production

development

exploration

Disclaimer

Orsu Metals announces a maiden Inferred Mineral Resource at its Sergeevskoe

Our website uses cookies. By browsing our website, you agree that we can use cookies as described in our Privacy Policy and this cookie notice. [Disclaimer | OK]

Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) announces the results of a maiden Mineral Resource estimate for its Sergeevskoe Gold Project in Zabaikalsky Region, Russia. The Mineral Resource estimate was independently prepared by Wardell Armstrong International Ltd. ("WAI") in accordance with the guidelines of the JORC Code (2012)/CIM Definitions Standards and NI 43-101 requirements. A Technical Report covering the Mineral Resource estimate will be filed on SEDAR within 45 days of this news release.

Highlights:

An Inferred Mineral Resource of 25.09 million tonnes, grading 1.47 g/t gold and containing 1.19 Moz gold at a 0.5 g/t gold cut-off grade, was optimized into an open pit constrained by the license boundary at Sergeevskoe.

__________________________________________________________________________________

Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “The maiden Mineral Resource was identified by Orsu from scratch during just two years of work within approximately 900x600 m area. Orsu now has a robust understanding of the gold grade distribution at Sergeevskoe and will specifically target higher grade areas in order to improve the geostatistical parameters in the higher grade shoots and therefore the average gold grade of the system. While the gold-mineralized system is constrained by the license boundary in the east, it remains widely open westward and to the north. Furthermore, the constructed block model clearly indicates a grade increase with depth in excess of 3 g/t gold.”

Dr. Sergey V Kurzin, Executive Chairman of Orsu commented: “I would like to thank our exploration team for building a solid foundation for the Company. Given that only less than one square kilometer of Orsu’s 7.6 square kilometer property has been drilled so far, a maiden pit and license constrained resource makes an excellent start. Our recent work has generated an abundance of additional targets to be tested in 2019.”

An Inferred Mineral Resource was estimated for a large stockwork, containing 122 segments of sheeted subparallel quartz-tourmaline-sulfide veins in nine domains. The individual vein segments are separated by faults or unmineralized intervals. The most important divide is represented by the Shirotnyi Fault (Figure 1). To its south are Zone 23 West, Zone 23 Middle, Zone 23 East, Adit 5 West, and Adit 5 East domains. To the north are the Intermediate, Klyuchi West, Kozie and Peak Klyuchi domains.

Figure 1. Plan view of Mineral Resource domains and gold grade distribution in the unconstrained block model at Sergeevskoe. Historically recognized mineralization is shown in grey-blue. Klyuchevskoe open pit can be seen to the east.

From these domains, an Inferred Mineral Resource of 25.09 million tonnes, grading 1.47 g/t gold and containing 1.19 Moz gold at a 0.5 g/t gold cut-off grade, was optimized into a pit constrained by the license boundary to the east at Sergeevskoe (Table 1). Table 1 also shows sensitivity analysis of tonnage and grade within a pit constrained at different cut-off grades (“COG”) for the Sergeevskoe project, limited by the license boundary Table 1. Open pit Mineral Resource estimate with base case at 0.5 g/t cut off grade and sensitivity analysis of tonnage and grade at different cut-off grades for the Sergeevskoe Gold Project as at 15 April 2019.

Table 1- Open pit Inferred Mineral Resource Estimate

COG	Tonnes (Mt)	Grade (g/t Au)	Contained Metal (Au ‘000 oz)
0.4	25.22	1.47	1,192
0.5	25.09	1.47	1,186
0.6	23.93	1.52	1,169
0.7	21.59	1.61	1,118
0.8	18.64	1.75	1,049

Notes: (1) CIM Definition Standards were followed for Mineral Resources; (2) Mineral Resources reported for the Sergeevskoe Gold Project are classified as Inferred by Phil Newall, an independent Qualified Person as defined by CIM Definition Standards; (3) Mineral resources are limited to an optimised open pit shell based on appropriate economic and reasonable mining parameters as provided by Orsu Metals Corporation; (4) Mineral Resources are not reserves until they have demonstrated economic viability based on a Feasibility Study or Pre-Feasibility Study; (5) All figures are rounded to reflect the relative accuracy of the estimate, and apparent errors may occur due to rounding; (6) Contained metal refers to estimated contained metal in the ground not adjusted for metallurgical recovery; (7) The mineral resources reported represent the sub-celled model with no account of potential mining dilution of the mineralisation.

Figures 2 and 3 show distribution of gold mineralization, constrained by the pit and the license boundary, which corresponds to the Inferred Mineral Resource estimate. Figure 3 also shows gold-mineralized blocks within a pit, unconstrained by license boundary, and beyond the pit envelopes.

Figure 2. Cross section (looking west) showing grade distribution in gold-mineralized stockwork over a >500 m width along the eastern license boundary of the Sergeevskoe gold project.

Figure 3. Long vertical projection showing grade distribution with resource pit outlines constrained by Sergeevskoe license boundary as well as pit outline unconstrained by license boundary. The existing open pit at the adjacent Klyuchevskoe gold deposit is shown for reference.

GROWTH POTENTIAL

Based on the results, Orsu considers that there is a strong potential to grow the mineralization envelope at the Sergeevskoe Gold Project beyond that identified in this maiden Mineral Resource estimate. The mineralization is open both along the westward strike and downdip. In particular, there is a strong possibility to identify new mineralization at the western continuation of Klyuchi West and Intermediate domains, and only partly drill-tested mineralization in between these domains and Kozie domain. The western extension of Zone 23 remains open, with some gold mineralization recognized in historical holes and by Orsu during scout sampling at the Sergeeva prospect some 500 m west. Peak Klyuchi requires additional attention as a direct continuation of the Intermediate mineral domain. Kozie domain is also open westward, with gold mineralization intercepted in Orsu’s trench SKZTR17-11 (see Figure 1).

Of key interest for growth potential is the testing of the downdip continuation of gold mineralization in the Intermediate, Klyuchi West and Zone 23 domains, particularly due to a clear increase in gold grade (see Figures 2 and 3). The reported gold mineralization at Sergeevskoe was drill-tested to a depth of 750mRL from approximately 950-1000mRL topographic surface, whereas Klyuchevskoe gold mineralization is drill-intersected to a depth of 450-500mRL.

In addition, there are numerous occurrences of gold mineralization and geochemical/geophysical anomalies not yet tested by Orsu beyond the area of detailed works within the Company’s 7.6 square km license area of the Sergeevskoe project (see press release dated September 21, 2016).

DETAILS OF MINERAL RESOURCE ESTIMATE DATED 08 APRIL 2019

Details of Mineral Resource estimate dated 08 April 2019

The Mineral Resource estimate was prepared by WAI under the direction of Phil Newall and Andrey Tsoy. Dr Phil Newall is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). Mineral Resources for the Sergeevskoe Gold Project have been prepared in accordance with the guidelines of the JORC Code (2012) and the 2014 CIM Definition Standards by Phil Newall, an independent Qualified Person as defined by the 2014 CIM Definition Standards. WAI has approved this written disclosure of the Mineral Resource estimate.

Data verification

The Qualified Person has verified the database the Mineral Resource estimate is based on. This verification was done by personal inspection of drill core, drill sites and trenches during site visits in 2017 and 2018, and by checking database content against primary data sources and historical information.

Exploration Information

The estimate is based on 17,300 m of diamond drilling (82 drillholes) and 5,300 m of channel sampling (39 trenches), completed during Orsu’s exploration campaign between January 2017 and October 2018. Section lines for drilling are spaced approximately 80 m apart. The vertical spacing between intersections is also typically 80 m. The central part of Zone 23 and eastern part of Klyuchi West were drilled along the section lines spaced approximately 40 m apart. Historical data are completely excluded from the mineral resource estimate.

In the opinion of the Qualified Person, the core and channel samples collected by Orsu are sufficiently accurate and reliable for use in Mineral Resource estimation, and at the time of preparing this mineral resource estimate, there are no known material data quality issues related to drilling, sampling, recovery or other factors.

Intervals identified by Orsu geologists as potentially mineralized were sampled, typically on one meter lengths. The half-core samples from drill core and channel samples from trenches were assayed in the ALS and SGS Laboratories in Chita for gold and silver, as well some pathfinder elements. Standard QA/QC protocols were followed, including analysis of duplicates and standards and check analyses by ALS and SGS Laboratories in Chita, Russia and in the Stewart Assayers Laboratories in Kara-Balta, Kyrgyzstan, all independent from Orsu. The results of this QA/QC checking will be presented in the forthcoming Technical Report.

more news

current video Association Support group Publishing house

no video selected

» change to channel

U.S. Gold Corp. Announces Acquisition of Orevada Metals, Inc.

Transformative transaction brings 2nd promising NV exploration project to USAU ELKO, NV, September 11, 2019 – U.S. Gold Corp. (NASDAQ: USAU - https://www.c …

read more

TerraX Extends Gold Mineralization Another 600 Meters In Phase 1 Of Drill

Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF - https://www.commodity-tv.net/c/search_adv/?v=298857 ) is pleased to anno …

read more

Latest Video

Jervois Mining: Idaho Driling Impressions & Project Flyover

Create own channel

Please click here to be forwarded to the channel registration of Germany-TV.

Orsu Metals announces a maiden Inferred Mineral Resource at its Sergeevskoe