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Oceanus Resources Mobilizes Team to Evaluate and Drill Protectora Vein at El Tigre Property
HALIFAX, Nova Scotia, June 29, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) ("Oceanus" or the “Company”) reports it has recei
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"HALIFAX, Nova Scotia, June 29, 2017 (GLOBE NEWSWIRE) -- Oceanus Resources Corporation (TSXV:OCN) (OTCQB:OCNSF) (\"Oceanus\" or the “Company”) reports it has received the final assay results for step-out drill hole ET-17-144. As previously released, this hole returned 0.85 meters of 135.1 g/t gold equivalent consisting of 37.2 g/t gold and 7,338.9 g/t silver. Oceanus now reports the base metal results for drill hole 144. Drill hole ET-17-144 returned 0.85 meters of 2.84% copper, 4.06% zinc and 1.38% lead. The mineralized zone consists of several vuggy quartz veins and veinlets carrying galena, sphalerite, chalcopyrite, stromeyerite and pyrite within a strongly silicified and kaolinized alteration zone. The true width of the vein is estimated to be 0.80 meters and the gold equivalent ratio is based on a gold-to-silver ratio of 75:1. Hole ET-17-144 was designed to test the Protectora vein at a vertical depth of 50 metres below surface approximately 800 metres to the north of the El Tigre mine workings (see attached Appendix A). Near drill hole 144 the Protectora vein was partially explored in the 1920s by four exploration tunnels on several levels. As Mishler (1920) reported these exploration tunnels, known as Palomitas, exposed the Protectora vein for a length of approximately 150 feet, a vertical height of 50 feet and a width of 3.5 feet (45m L x 15m V x 1.1m W). This exposed oxidized vein assayed 0.11 ounces per ton gold (3.77 g/t Au) and 50 ounces per ton silver (1714.3 g/t Ag). A second underground exploration tunnel is located approximately 950 meters north of Palomitas and drill hole ET-17-144 on the Protectora vein. Here, the exploration tunnel follows the Protectora vein for a length of 1000 feet (305m L) over a vertical height of 350 feet (106m V). Mishler (1920) reports the vein averages 2 feet (61cm) in width. The mineralized zone consists of several vuggy quartz veins and veinlets carrying galena, sphalerite, chalcopyrite, stromeyerite and pyrite. At Protectora the Oceanus exploration team is currently mapping and sampling on surface and in the underground exploration tunnels. Oceanus intends to start a new drill program this summer at Protectora. Glenn Jessome, President and CEO of Oceanus reports, “The bonanza style high grade gold-silver-...