Oceanus Reports Mineral Resource Estimate for the El Tigre Property in Sonora, Mexico

https://www.oceanusresources.ca/news/2017/oceanus-reports-mineral-resource-estimate-for-the-el-tigre-property-in-sonora-mexico/

HALIFAX, NOVA SCOTIA – September 13, 2017 – Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) (“Oceanus” or the “Company”) announces an independent Mineral Resource Estimate for the El Tigre Property completed by P&E Mining Consultants Inc. (“P&E”) which is detailed in Table 1 below. The El Tigre Property, located in Sonora, Mexico, is owned and operated by Oceanus Resources, and includes the El Tigre1, Fundadora2 and El Tigre Tailings3 Deposits.

Mineral Resource Estimate

The El Tigre Mineral Resource Estimate includes extensions of the historical El Tigre and Seitz Kelly Veins1, as well as the mineralized breccia halo around the El Tigre Vein. The Fundadora Mineral Resource Estimate includes the Aquila, Fundadora, Protectora and Caleigh Veins2.

TABLE 1: El Tigre Project Mineral Resource Estimate (1-11)

Resource Area Class AuEq g/t
Cut-Off

Tonnes
(000’s)

Ag
g/t
Ag ozs
(000’s)
Au
g/t
Au ozs
(000’s)
Au Eq g/t

AuEq ozs
(000’s)

El Tigre
Constrained Pit1
Indicated 0.20 25,170 15 11,906 0.51 416 0.69 559
Inferred 0.20 2,791 12 1,093 0.38 34 0.52 47
El Tigre
Underground1
Indicated 1.50 207 156 1,041 0.46 3 2.33 16
Inferred 1.50 11 82 29 1.27 0 2.26 1
Fundadora Constrained Pit2 Indicated 0.20 451 167 2,428 0.93 14 2.94 43
Inferred 0.20 1,774 150 8,554 0.69 39 2.49 142
Fundadora Underground2 Indicated 1.50 80 118 306 1.03 3 2.45 6
Inferred 1.50 2,003 140 9,044 0.60 38 2.28 147
Sub Total Indicated 0.20, 1.50 25,908 19 15,681 0.52 436 0.75 624
Sub Total Inferred 0.20, 1.50 6,579 89 18,720 0.52 111 1.59 337
El Tigre
Tailings3
Indicated 0.37 939 78 2,345 0.27 8 1.21 37
Inferred 0.37 101 79 254 0.27 1 1.22 4
Total Indicated 0.20,0.37,1.50 26,847 21 18,026 0.51 444 0.77 661
Total Inferred 0.20,0.37,1.50 6,680 88 18,974 0.52 112 1.59 341

 

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