Barsele Minerals Update on the Barsele Gold-VMS Project

Barsele Minerals Corp has provided an operational update regarding ongoing exploration activities within the Barsele Gold-VMS Project area in Västerbottens
Barsele Minerals Update on the Barsele Gold-VMS Project
Barsele Minerals

Lan in Northern Sweden. The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited. Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay requirement by Barsele until a pre-feasibility study is completed.

Between January 1st and September 30th, Agnico Eagle personnel and certain contractors have been carrying-out office-related and field-specific exploration activities, at a number of exploration sites throughout the property. Work has included gravity and magnetic surveying, plus base of till sampling, along with the more recent initiation of a large MEFFA (multi-element fine fraction analysis) surface till sampling campaign, utilizing automated XRF scanning to define precious/base metal anomalous areas for future drill testing. Initial results are positive, with more results pending.

Site personnel have also been focused on the project database, with emphasis on lithogeochemical and structural reinterpretation of all pre-2020 drill core, toward vectoring in on sectors of the Avan-Central-Skiråsen zones, exhibiting superior gold grades. New structural trends are emerging, and recent drilling has provided encouragement. Drill results are pending.

Work has also involved studies related to high-grade gold occurrences associated with certain elements, minerals and alteration phases. Recent drilling has tested these criteria, with results pending.

Initial studies related to spectroscopic Ore/Waste sorting have provided encouraging results, with more testing required.

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