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Oceanus Resources Completes Fall 2017 Drilling Program
HALIFAX, Nova Scotia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) ("Oceanus" or the “Company”) has completed the 20
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"HALIFAX, Nova Scotia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) (\"Oceanus\" or the “Company”) has completed the 2017 fall drill program at its wholly owned El Tigre Gold-Silver Property located in northern Sonora, Mexico. The fall 2017 program comprised 600 meters of diamond drilling to define the strike and dip of the high-grade Caleigh vein and the low-grade alteration zone in the hanging wall. Due to a backlog at the lab, assay results for holes ET-17-146 to ET-17-151 are pending and are expected to be released in January 2018 once the Company receives them. Q1 2018 Outlook During the first quarter of 2018, exploration will continue at the El Tigre property with the focus continuing to be on locating and defining other high-grade vein systems on the property. The Company will also begin testing the potential of the favourable El Tigre formation along strike to the south of the El Tigre mine with geological and prospecting teams mapping and collecting rock and geochemical samples over a distance of 5 kilometers to the south between Gold Hill and the Lluvia de Oro prospect. 2017 Highlights September 2017 Resource Estimate Oceanus completed the 2017 infill drilling program at El Tigre in May 2017 having drilled a total of 62 diamond drill holes totaling 11,923.1 metres. These drill results demonstrated wide oxidized zones of precious-metals mineralization at El Tigre that outcrop at surface. The results from this drill program supported a National Instrument 43-101 Mineral Resource Estimate which was released on September 13, 2017. The Mineral Resource Estimate included a total indicated resource of 661,000 gold equivalent ounces and a total inferred resource of 341,000 gold equivalent ounces and is detailed in Appendix ”A”. A copy of the Technical Report is available on the Company’s website and on SEDAR under the Company’s profile. Bonanza Silver and Gold Grades to the North Step-out hole ET-17-144 was the last hole drilled in May 2017 and it intersected high-grade gold and silver mineralization in the Protectora vein, located approximately 800 meters north of the old El Tigre mine. Hole ET-17-144 returned 3.15 meters of 36.6 grams per tonne gold equivalent from a depth of 88.25 meters to 91.40 meters consisting of 10.1 grams per tonne gold and...