Oceanus Intersects 110 Meters of 0.79 g/t Gold Equivalent Consisting of 0.6 g/t Gold and 14.5 g/t Silver at its El Tigre Property in Sonora, Mexico

http://globenewswire.com/news-release/2016/12/14/897637/0/en/Oceanus-Intersects-110-Meters-of-0-79-g-t-Gold-Equivalent-Consisting-of-0-6-g-t-Gold-and-14-5-g-t-Silver-at-its-El-Tigre-Property-in-Sonora-Mexico.html

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.

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