Orsu Metals Corporation (TSXV:OSU) (“Orsu” or the “Company”) is pleased to announce the results of an updated Mineral Resource estimate for its Sergeevskoe Gold Project in Zabaikalsky Krai, 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 30.42 million tonnes, grading 1.45 g/t gold and containing 1.417 Moz gold at a 0.5 g/t gold cut-off grade and US$1450 per Troy ounce of gold, was optimized into an open pit constrained by the license boundaries at Sergeevskoe.
Dr. Alexander Yakubchuk, Director of Exploration of Orsu commented: “As a result of the 2019 exploration programme, Orsu was able not only to double the mineralized footprint to 2×1 km at Sergeevskoe, the Company also succeeded in increasing by 19.3% its previously announced maiden Mineral Resource. We have no doubt that it is possible to further grow this resource as, due to the size of the limited drilling programme, obvious gaps were left along the strike of mineral wireframes. In addition, the system remains widely open to the west and north.”
An Inferred Mineral Resource was estimated for a large stockwork, containing 179 segments of sheeted subparallel quartz-tourmaline-sulfide veins in nine domains over a strike length of 2×1 km. The individual vein segments are separated by faults along the strike or unmineralized intervals across the strike.
The mineralized envelope is divided by the Shirotnyi Fault (Figure 1) into two areas with largely northwest-trending stockworks in the Peak Klyuchi, Kozie West, and Klyuchi West domains (to the north of the fault) and west- to southwest-trending stockworks in Zone 23 West, Zone 23 Middle, Zone 23 East, and Adit 5 West and East domains (to the south). Based on 2019 exploration results, the veins in all domains were reshaped to greater or smaller extent (Figure 1).
Exploration works at Peak Klyuchi yielded a swarm of new veins. After additional trenching, veins in Zone 23 West domain were reinterpreted to strike southwest. New veins were discovered at Kozie West. All veins between the Northeast Fault and Shirotnyi Fault are now interpreted to belong to a single domain of Klyuchi West. In Zone 23 East domain, previously constrained veins were discovered to continue downdip to a depth of 400 m. Several veins were discovered in the western part of Adit 5 West.