Orsu Metals Corporation (CVE:OSU) unveiled "significant" drill results from its 10,000-metre drilling program at its Sergeevskoe gold project in Russia, which doubled the vertical extent of gold mineralisation in the main stockwork.
These results hail from the first three holes, the group said, and the work is designed to test new targets and result ultimately in a maiden mineral resource.
The assays, says Orsu, confirm that there is a between 210 and 230 m vertical extent from surface of gold mineralization in the main stockwork, averaging 2.09 g/t (grams per ton) gold (Au) over 24m (meters).
The semi-blind Southern stockwork averages 1.38 g/t of the yellow metal over 20 m, starting from 1-2-m-thick veins near surface and exceeding 23m in drill width at a depth of 260-280m from surface.
"In section 9300E in the central part of the 530x120 m west-east trending Zone 23, Orsu was able almost to double the vertical extent of gold mineralization in the Main stockwork from the previously reported 125-150 m to 210-230 m vertically from the surface," said Dr Alexander Yakubchuk, director of exploration of Orsu."
Notably, the director said that if one were to exclude narrow and relatively low grade mineralized zones, the average grade of the three intercepts across the thickest and most consistent part of the Main stockwork in the 2017 and 2018 holes was 2.09 g/t of gold over 24 m.
Orsu said the most significant intercepts of the batch released today (June 19) were 1.04 g/t (grams per ton) gold over 8.4 m from 242.3 m, 0.94 g/t gold over 2.75 m from 269.5m, and 0.94 g/t gold over 12.45m from 274.65m.
Orsu shares closed in Toronto at C$0.19 on Monday.