HALIFAX, NOVA SCOTIA / TheNewswire / September 14, 2016 – Oceanus Resources Corporation (TSXV:OCN) (“Oceanus” or the “Company”) reports assay results from the first seven HQ-size core holes drilled during July and August, 2016 on its 100% owned El Tigre Property in Sonora, Mexico. Highlights from the drilling include:
- Hole ET-16-083 – 121.1 meters of 1.38 g/t gold equivalent consisting of 1.02 g/t gold and 27.0 g/t silver; including 57.8 meters of 1.90 g/t gold equivalent consisting of 1.51 g/t gold and 28.9 g/t silver.
- Hole ET-16-085 – 89.7 meters of 1.02 g/t gold equivalent consisting of 0.62 g/t gold and 30.3 g/t silver; including 21.1 meters of 2.36 g/t gold equivalent consisting of 1.38 g/t gold and 73.6 g/t silver.
- Hole ET-16-087 – 79.2 meters of 1.02 g/t gold equivalent consisting of 0.80 g/t gold and 16.7 g/t silver; including 27.5 meters of 1.66 g/t gold equivalent consisting of 1.14 g/t gold and 38.7 g/t silver.
For the seven drill holes true width has not been calculated for the intercepts, but true width is generally estimated at 75-90% of drilled width. Drill assays were composited by length-weighted averaging into intersections using a 0.2 g/t gold equivalent cut-off grade. The gold equivalent ratio is based on a gold to silver price ratio of 75:1.