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Oceanus Announces 2019 Exploration Program at the El Tigre Gold-Silver Property in Sonora, Mexico
HALIFAX, NS / ACCESSWIRE / September 11, 2019 / Oceanus Resources Corporation (TSXV:OCN)(O...
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[{"type":"text","content":"Oceanus Announces 2019 Exploration Program at the El Tigre Gold-Silver Property in Sonora, MexicoHALIFAX, NS / ACCESSWIRE / September 11, 2019 / Oceanus Resources Corporation (TSXV:OCN)(OTCQB:OCNSF) (\"Oceanus\" or the “Company”) announces the commencement of the 2019 exploration program at its 100% owned El Tigre Gold-Silver Property located in Sonora, Mexico. The El Tigre Property is located in north‐eastern Sonora State, approximately 90 kilometers south‐southeast of Douglas, Arizona.The El Tigre Property 43-101 complaint resource estimate that Oceanus completed and filed in 2017 is comprised of indicated resources totaling 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources totaling 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The complete National Instrument 43-101 technical report is available on the Company’s website and on SEDAR under the Company’s profile.2019 Exploration ProgramFollowing the completion of the El Tigre resource estimation in September 2017, Oceanus directed its exploration efforts during 2018 at identifying other areas of gold-silver mineralization across the expansive property holdings (21,774 hectares). The 2018 prospecting and mapping program identified in excess of 10 kilometers of favorable host stratigraphy (i.e. the El Tigre formation) with several areas of mineralization identified to the south, east and north-east of the old El Tigre Mine. The El Tigre formation is the rock package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012).Oceanus' drilling after filing its’ 43-101 compliant resource estimate intersected similar-style gold-silver mineralization in the El Tigre formation at the Protectora, Caleigh (new discovery by Oceanus) and Fundadora (exploration drifting by Anaconda Mining in 1983) areas to the north of the old mine, as well as to the south, past Gold Hill (refer to map below). Drilling to the north of the old mine late in 2017 returned the following impressive gold-silver intercepts:Hole IDComment From(meters) To(meter...