Barsele Minerals Inc.
Barsele Minerals Inc. Barsele Minerals Inc.
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Barsele Minerals Inc. Barsele Minerals Inc.
Barsele Property
PROJECT OVERVIEW

Our 45% owned Barsele Gold Project is located approx. 600 km due north of Stockholm & 40 km southeast of Storuman, a small town situated in Västerbottens Län, which is a regional district of Northern Sweden. Orex believes there is excellent upside potential & inherent value at Barsele - the main objective is to discover & define a 1.5 to 2 million ounces gold deposit. There is also potential for polymetallic VMS deposits. Our total mineral claim holdings are 32,709 hectares (about 83,700 acres).

Since 1985, 414 diamond drill holes have been completed at Barsele. Agnico Eagle hopes to expand the known open-pit resource with definition drilling. Mining exploitation concessions, a step more advanced than exploration, have been in place since 2007, which will assist with the permitting process on the known mineral deposits area.

Several major gold deposits are situated nearby, including: Bjorkdal (Elgin Mining), Faboliden (Lappland Gold) and Svartliden (Dragon Mining). Major polymetallic VMS deposits are also nearby, including Kristineberg (Boliden Mining).


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WHY SWEDEN?
  • Sweden is one of Europe's leading producers of metals with a long & successful history of mining
    • 1992 - revised mining law abolished Statutory State holdings for mineral projects, which opened door to foreign investment in mining
    • Many local & international companies actively exploring and/or currently developing mines
  • Taxation incentives for project development from local & regional governments
    • 22% corporate tax rate and no mineral tax
    • low mineral license costs & good security of tenure
  • Well-developed access & infrastructure
    • power, rail, roads, telecommunications, water
    • skilled local labour market
  • Low political risk in Sweden
    • few impediments to exploration & development of a project
    • mature, well-defined environmental requirements & permitting process

OREX ACCOMPLISHMENTS and CURRENT AGNICO EAGLE WORK PLAN
  • Airborne geophysical survey by SkyTEM - completed - results outlined
  • Ground induced polarization & magnetic surveys - completed - new targets defined
  • Phase-I diamond drill program - completed - total 6,200 m and 16 drill holes (12 drill holes in Central Zone, 4 drill holes in Avan Zone)
  • Phase-II diamond drill program - planned by Agnico Eagle for Q4 2015
  • Diamond drill testing of new anomalous areas - prospecting, mapping, sampling & geophysics - upcoming by Agnico Eagle
  • Bulk sampling of Central Zone - a possibility for Agnico Eagle
  • Environmental studies & compliance - underway



GEOLOGY

The Barsele Gold Project covers a sequence of metasedimentary and metavolcanic rocks of the Proterozoic Svecofennian system, identified with 3 main phases of granitoid intrusions in the region: early, middle, and post. An early orogenic granodiorite is the host rock of the Barsele Au mineralization.

The granodiorite exhibits a well-developed S2 penetrative foliation which is cut by ductile shear zones, faults, fractures & dilational quartz and quartz-carbonate sulphide veining. The granodiorite is quartz-feldspar phyric and is composed of sericitized plagioclase, quartz, biotite and lesser K-feldspar.

Au mineralization at Barsele is predominantly hosted within a medium-grained, highly fractured granodiorite that ranges in width from 200 m to 500 m with a strike-extent in excess of 8 km. The intrusion bends from an east-west orientation in the east to a northwest trend in the west, where 3 major zones of Au mineralization have been identified: Central, Avan & Skiråsen Zones. The Central and Skiråsen Zones have a combined strike length of 1.4 km and a width of 250 m. A 4th mineralized gold zone, Skirträskbacken, is located approximately 3 km southeast of the Central Zone and extends into the Risberget gold prospect.

Two main styles of mineralization are interpreted at the Central Zone: (a) low to moderate grade Au mineralization associated with networks of thin tourmaline-quartz and quartz-calcite-arsenopyrite veinlets in granodiorite, and (b) high-grade Au-Ag-Zn-Pb mineralization in syn-tectonic quartz-sulphide veins. Most exploration in the Central and Avan Zones has focused on the low-grade Au resource and there remains potential for discovery of additional high-grade quartz-sulphide vein mineralization.

Gold occurs as native metal, and has a general association with arsenopyrite but also occurs with pyrrhotite, calcite, chlorite & biotite. Base metal content of the deposit is typically low. Carbonate, sulphide and quartz-tourmaline veinlets are locally mineralized. The host-granodiorite contains less than 2% disseminated fine-grained sulphides consisting of arsenopyrite, pyrrhotite and pyrite.

The Norra Zone consists of massive sulphide mineralization hosted within a sequence of sheared felsic volcanics, foliated pyritic shales and pelitic sediments with a basal massive-sulphide zone and an upper-zone dominated by andesitic volcanics. The footprint of the main mineralized body at Norra, based on drilling, is some 300 m in strike-length varying from 5 m to 50 m in width.

The sulphide mineralization and associated alteration is a volcanogenic massive sulphide (VMS) type. Gold is associated with the basal semi-massive arsenopyrite, pyrrhotite, chalcopyrite, galena, and sphalerite mineralization. Gold is probably remobilized and likely enriched by a later overprinting epithermal phase of mineralization.

 
Barsele Minerals Inc.