Oceanus reports Fall 2017 exploration program drill results
Monday, Jan 22, 2018
Oceanus Resources Corporation is pleased to report the 2017 fall exploration program drill results 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.

Drill Highlights

Highlights from the fall 2017 drilling program include:

  • 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.
  • Hole ET-17-148 returned 0.50 meters of 40.0 grams per tonne ("g/t") gold equivalent from a depth of 90.10 meters to 90.60 meters consisting of 10.0 g/t gold and 2,247.1 g/t silver.

El Tigre Maiden Resource Estimate

A maiden resource estimate for the El Tigre project was reported on September 13, 2017 and filed on SEDAR on October 26, 2017 containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold).

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 Exploration team will also begin testing, for the first time, 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. The beginning of exploration to the south was made possible because in December 2017, the company completed the excavation and roadwork required to provide road access for Oceanus' geological team to get to the 5 kilometres between Gold Hill and Lluvio de Oro.

For more information, please visit: https://www.oceanusresources.ca/

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