- Assay results from extended 2018 drill programme confirm that Klyuchi West and Kozie are parts of a single 250-m-wide gold-mineralized stockwork, extending for 750 m
- The best intervals returned:
- 86 g/t Au over 17.5 m from 103.8 m (including 35.15 g/t Au over 1.8 m and 20.8 g/t Au over 1.2 m) in trench STR18-32,
- 34 g/t Au over 4.6 m from 160.3 m in trench STR18-32,
- 82 g/t Au over 9.7 m from 189.9 m in drillhole SDH18-76,
- 77 g/t Au over 7.0 m from 139.45 m in drillhole SDH18-78,
- 77 g/t Au over 4.6 m from 270.05 m in drillhole SDH18-78,
- 18 g/t Au over 10.45 m from 14.55 m in drillhole SDH18-58.
Dr. Sergey Kurzin, the Executive Chairman of the Company, noted: “Congratulations go to the exploration team of Orsu. While Kozie was known before, Klyuchi West is a brand new discovery by Orsu. Now the exploration team has been able to demonstrate that both occurrences form a single system. Along with Zone 23 and Adit 5, this stockwork will be a major building block of the maiden 43-101 compliant resource to be announced shortly.”
The license of the Sergeevskoe Gold Project occurs east from the Aleksandrovskoe open pit and gold plant owned by Zapadnaya Gold Mining Ltd and immediately to the west from the Klyuchevskoe gold license owned by Sun Gold Mining (Figure 1). The Klyuchevskoe (Klyuchi) gold deposit represents a +6 Moz gold endowment (see Orsu press-release dated September 21, 2016). Orsu owns a 90% interest in the Sergeevskoe Gold Project (see press release dated November 6, 2017).
At Klyuchi West, the Company previously reported encouraging intercepts in surface trenches and drillholes (see press releases November 13, 2017; January 25, 2018; and August 8, 2018).
As part of the completed extended 2018 exploration program, Orsu received assays for trench STR18-32 and drillholes SDH18-71, SDH18-76, SDH18-77, SDH18-78, SDH18-79, SDH18-80, SDH18-57 and SDH18-58 in between the Klyuchi West and Kozie occurrences (Table 1). The mineralized corridor, discovered by Orsu at Klyuchi West, is now 250-m-wide (Figure 2), extending directly from the Klyuchevskoe open pit. When mineralization is hosted in Permian granite, it consists of closely-spaced and steeply-dipping linear quartz veins and veinlets traced to a depth of 300 m, whereas it consists of chaotically oriented veinlets in the Jurassic granodiorite porphyry stock near the contact with granite. Further northwest, the mineralization occurs along more linear veins. It can be traced towards the Kozie prospect, where mineralization is controlled by a contact between Jurassic granodiorite porphyry and magmatic breccia.
The overall confirmed strike length of the 250-m-wide stockwork is 750 m. It remains unconstrained to the west and northwest. The area in between Kozie and Klyuchi West was never trenched or drilled in the past. It coincides with a low resistivity anomaly, identified by Orsu in 2017 during the PD-IP electric surveying.
Selection of mineralized intervals, presented below (Table 1), is based on a 0.5 g/t Au cut-off for compositing, with maximum 2 m length of 0.3-0.5 g/t Au mineralization included into mineralized interval. Composited intervals in drillholes are presented uncapped.
Quality Assurance - Quality Control (“QA/QC”)
Drillcore and channel samples were submitted directly to the SGS Vostok and ALS Limited laboratories in Chita, Russia, which are independent from Orsu, for sample preparation and analysis. Analysis for gold is performed using fire assay method with atomic absorption (“AA”) finish and with a gravimetric finish for samples exceeding 10 g/t Au. Results published are from the gravimetric finish if above 10 g/t Au and from the AA finish if lower than 10 g/t Au.
This release and the technical data reported have been reviewed and approved by Alexander Yakubchuk, Director of Exploration of the Company, also a Qualified Person as defined in NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.