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Oceanus Resources Drills 0.75 Meters of 10.9 g/t Gold and 2,830 g/t Silver at Tigre Property
HALIFAX, Nova Scotia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) ("Oceanus" or the “Company”) has intersected the
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"HALIFAX, Nova Scotia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) (\"Oceanus\" or the “Company”) has intersected the high grade Caleigh vein in the first hole of the Fall 2017 drilling program at its 100% owned El Tigre Property in Sonora, Mexico. Hole ET-17-145 returned 0.75 meters of 48.7 grams per tonne (“g/t”) gold equivalent from a depth of 28.50 meters to 29.25 meters consisting of 10.91 g/t gold and 2,830.4 g/t silver. The hole also encountered the low grade hanging wall alteration zone adjacent to the Caleigh Vein. The overall intersection returned 25.75 meters of 1.88 g/t gold equivalent from a depth of 3.50 to 29.25 meters consisting of 0.65 g/t gold and 91.9 g/t silver. The true width has not been calculated for the intercepts, however true width is generally estimated at 75% to 90% of drilled width. The gold equivalent ratio is based on a gold-to-silver price ratio of 1:75. Drill hole ET-17-145 is located on the same section as the step-out hole ET-17-144 (see Appendix A) and was located to cut the Caleigh Vein approximately 40 meters up-dip from hole ET-17-144. The Caleigh vein in hole ET-17-145 is hosted by a brecciated, dark grey fragmental tuff of the El Tigre Formation. The mineralized zone consists of a 0.75 meter wide vuggy quartz vein carrying stromeyerite and pyrite. As was reported June 7, 2017, hole ET-17-144 intersected high-grade gold and silver mineralization in the Protectora vein and returned 3.15 meters of 36.6 g/t gold equivalent from a depth of 88.25 meters to 91.40 meters consisting of 10.1 g/t gold and 1,990.9 g/t silver. This intercept included 0.85 meters of 135.1 g/t gold equivalent consisting of 37.2 g/t gold and 7,338.9 g/t silver. Hole ET-144 also returned 1,107.36 g/t silver and 0.024 g/t gold over 1.5 meters from a depth of 188.65 meters to 190.15 meters. “The high gold and silver grades intersected in drill holes ET-17-145 and ET-17-144 have defined the Caleigh and Protectora veins as high priority targets to develop new mineral resources on El Tigre,” stated Glenn Jessome, President and CEO, Oceanus Resources. “Furthermore, hole ET-17-145 has provided Oceanus with initial evidence of the wide, low-grade alteration zone located along the Caleigh vein and this target seems to replicate what we see at the El Tigre mine located 800 meters to the ...