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Oceanus Resources Drills 37.2 g/t Au and 7,338.9 g/t Ag over 0.85 Meters in an 800 Meter Step-Out Drill Hole at its El Tigre Property
HALIFAX, Nova Scotia, June 07, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN), (OTCQB:OCNSF) ("Oceanus" or the “Company”) reports that step-o
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"HALIFAX, Nova Scotia, June 07, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN), (OTCQB:OCNSF) (\"Oceanus\" or the “Company”) reports that step-out hole ET-17-144 at its 100% owned El Tigre Property in Sonora, Mexico intersected high-grade gold and silver mineralization in the Protectora vein. Hole ET-17-144 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 1990.9 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 1107.36 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 true width has not been calculated for the intercepts, but true width is generally estimated at 75-90% of drilled width. The gold equivalent ratio is based on a gold-to-silver price ratio of 75:1. Drill hole ET-17-144 is located approximately 800 meters north of the end of the old El Tigre mine where the Camp is located. The hole was drilled to test the Protectora vein at a shallow depth. The map attached as Appendix A is 6 kilometers of the 35 kilometer long El Tigre Property and shows the location of drill hole ET-17-144. In this drill hole the Protectora vein is hosted by a brecciated, dark grey fragmental tuff of the El Tigre Formation. The mineralized zone consists of several vuggy quartz veins and veinlets carrying galena, sphalerite, chalcopyrite, stromeyerite and pyrite. APPENDIX A: El Tigre Property Map Glenn Jessome, President and CEO of Oceanus reports, “The high gold and silver grades intersected in drill hole ET-17-144 are reminiscent of the bonanza silver and gold grades mined underground in the 1920’s and 1930’s at the old El Tigre mine which is 800 meters to the south. Surface mapping shows that the Protectora vein and alteration zone, that has not been mined, extends along strike to the north from the old El Tigre mine for 1,500 meters. This 1,500 meter long extension presents a new exploration target to find additional near surface mineralization. Our recent step-out drill results to the north and south are very encouraging.” Refer to the Oceanus news releases dated September 14, 2016, October 18, 2016, December 14, 2016, March 6, 2017 and May 25, 2017...