HALIFAX, Nova Scotia, Dec. 14, 2016 (GLOBE NEWSWIRE) — Oceanus Resources Corporation (TSXV:OCN) (“Oceanus” or the “Company”) reports additional assay results from the ongoing diamond drilling program on its 100% owned El Tigre Property in Sonora, Mexico. Highlights from the drilling include the following:
- Hole ET-16-108 – 110 meters of 0.79 g/t gold equivalent consisting of 0.6 g/t gold and 14.5 g/t silver; including 16 meters of 1.69 g/t gold equivalent consisting of 0.82 g/t gold and 64.7 g/t silver.
- Hole ET-16-109 – 20.4 meters of 3.23 g/t gold equivalent consisting of 0.4 g/t gold and 212 g/t silver; including 4 meters of 13.9 g/t gold equivalent consisting of 0.82 g/t gold and 981.2 g/t silver.
- Hole ET-16-104 – 115.9 meters of 0.58 g/t gold equivalent consisting of 0.43 g/t gold and 11.4 g/t silver; including 67 meters of 0.81 g/t gold equivalent consisting of 0.56 g/t gold and 18.3 g/t silver.
The 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.