HALIFAX, NOVA SCOTIA — Aug 22, 2013 — Oceanus is pleased to announce that geological mapping and channel sampling have confirmed the occurrence of high grade gold and silver mineralization at the La Fortuna and the Cerro del Sol zones on the La Lajita property in Durango, Mexico. Highlighted assay results include the following;
- 8.53 g/t gold and 31.7 g/t silver over a length of 12 meters from channel sample OLL-011 located at the La Fortuna Zone.
- 5.41 g/t gold and 113.0 g/t silver over a length of 6 meters from channel sample OLL-108 located at the La Fortuna Zone.
The geological mapping and channel sampling program completed by Oceanus has confirmed the presence of seven (7) gold zones along the fault system including from north to south; La Fortuna, Esperanza, Santo Nino, Dos Hermanos, Mina la Guadalupe, Las Ratones and the Cerro del Sol.
Mapping and sampling of the underground workings at the Mina la Guadalupe has confirmed the relationship between high grade gold and silver mineralization associated with green quartz veins along the hanging wall side of the fault breccia and the overall dip of the structure.
The last phase of the summer 2013 exploration program is focused on establishing the depth to the contact with andesitic rocks of the Lower Volcanic Complex. The majority of the large multi-million ounce gold and silver deposits in the Sierra Madre i.e. Ocampo, Pinos Altos, Tayoltita occur at or below this contact.
| 2013 La Lajita OLL Channel Sample Intersections | ||||||||
| Zones | Channel # | Comment | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | EqAu50** (g/t) |
|---|---|---|---|---|---|---|---|---|
| La Fortuna | OLL-011 | 0.0 | 12.0 | 12.0 | 8.53 | 31.7 | 9.16 | |
| including | 2.0 | 10.0 | 8.0 | 12.56 | 36.5 | 13.29 | ||
| OLL-108 | 0.0 | 6.0 | 6.0 | 5.41 | 113.0 | 7.67 | ||
| La Esperanza | OLL-105 | 0.0 | 6.0 | 6.0 | 0.76 | 27.7 | 1.31 | |
| Los Ratones | OLL-114 | 0.0 | 3.3 | 3.3 | 2.17 | 33.1 | 2.83 | |
| OLL-116 | 0.0 | 4.0 | 4.0 | 1.54 | 25.5 | 2.05 | ||
| Cerro del Sol | OLL-002 | 8.0 | 24.0 | 16.0 | 2.03 | 11.3 | 2.25 | |
| including | 20.0 | 24.0 | 4.0 | 4.71 | 23.5 | 5.38 | ||
| OLL-008 | 0.0 | 6.0 | 6.0 | 1.65 | 25.7 | 2.16 | ||
| OLL-117 | 0.0 | 6.0 | 6.0 | 3.57 | 25.3 | 4.08 | ||
* EqAu50** = Ag grade/50 + Au grade
Current Exploration Program
Oceanus mobilized an experienced exploration team to the La Lajita property in April 2013 to map and sample the known gold and silver prospects; to complete a structural analysis of the NW-SE trending fault structures on the property and to carry out a diamond drilling program to verify the results obtained in legacy reverse circulation drill holes at the Guadalupe, Dos Hermanos and Santo Nino prospects. Oceanus has contracted SPM Perforacion of Hermosillo, Mexico to drill 1000 meters of NQ size core.
Lab Preparation and Assay
Oceanus samples are prepared and assayed by Activation Laboratories Ltd. (“Actlabs”). Actlabs is a CAN-P-1579, CAN-P-4E (ISO/IEC 17025:2005) accredited laboratory and independent of Oceanus. The sealed and tagged sample bags are turned over to ActLabs personnel at the site who transport them to the ActLabs facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-300 gram pulp samples with ninety percent of the pulp passing Tyler 150 mesh (ìm).
The pulps are assayed for gold/silver using a 30 g charge by fire assay (Codes 1A2) and over limits greater than 3 g/t are re-assayed using a gravimetric finish (Code 1A3). Silver analysis is performed using atomic absorption spectrometry (Code ME-AR) after multi-acid digestion. Over limit values greater than 100 g/t silver are re-assayed using fire assay with a gravimetric finish (Code 8-Ag). Copper, lead, zinc and other element analysis is completed using the ICP-41 (Code IF2) for all the other elements.
Quality Assurance/Quality Control and Data Verification
Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Oceanus’s quality assurance and quality control (“QA/QC”) protocols.
David R. Duncan, P. Geo., a director of the Company, is the Qualified Person for Oceanus as defined under National Instrument 43-101. Mr. Duncan has reviewed the scientific and technical information in this press release.
About Oceanus Resources Corporation
Oceanus Resources Corporation is a well-financed gold exploration and development company run by a team of mining professionals with international experience in discovering open pit gold mines. Oceanus is exploring the 3200 km2 La Lajita Property located in the Sierra Madre Mountains of Durango, Mexico. Epithermal, low-sulphidation gold and silver mineralization associated with considerable hematite and silica alteration is hosted along NW-SE trending fault/breccia structures that have been traced over a strike length of 2 km and to known depths of 150 meters. The mineralization is exposed on surface in numerous small scale “gambusino” workings and in underground workings at the Mina la Guadalupe deposit.
For further information: Richard Gordon, President, Oceanus Resources Inc.,
T: 902 441-6700 F: 902 446-2001
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oceanus’s expectations are exploration risks detailed herein and from time to time in the filings made by Oceanus with securities regulators.
