HALIFAX, NOVA SCOTIA – April 9, 2015 – Oceanus Resources Corporation (TSXV:OCN) ("Oceanus" or the "Company") is pleased to announce that its exploration team is on site at its La Lajita Property in Durango State, Mexico and has commenced the 2015 exploration program. The first phase of the 2015 exploration program will consist of geological mapping and prospecting with the objective of identifying new gold showings along the La Lajita fault system in the area of the Cerro del Sol prospect located along the southern extension of the fault system, as well as to the north of the Esperanza prospect. These gold-silver prospects are two of a total of eight prospects that have been identified on the La Lajita fault system, which has been traced along surface for over three kilometers.
Oceanus' drilling in 2013 at the Santo Nino prospect returned 7.1 g/t gold and 48.8 g/t silver over a core length of 20.0 meters in drill hole OCN-13-005 in greenish quartz breccia with visible gold (see news release dated September 24, 2013). Follow up drilling in 2014 at Santo Nino returned 7.42 g/t gold and 34.5 g/t silver over a core length of 10.5 meters in hole OCN-14-026 (see news release dated September 17, 2014).
In December 2014, Oceanus completed a successful sampling program at the Cerro del Sol prospect where grab samples were collected on the basis of their interesting geological characteristics. Sampling of a jasperoidal breccia material graded 53.0 grams per tonne gold and 123.3 grams per tonne silver and a sample of green quartz breccia graded 39.4 grams per tonne gold and 138.7 grams per tonne silver. Although visible gold was observed in the Cerro del Sol breccia, none was seen in the samples sent to the laboratory for analyses (see news release dated March 3, 2015).
At the Esperanza prospect 35 meters of hand dug trenches uncovered a quartz vein breccia zone. The quartz vein system is silicified over a strike length of 30 meters. A stream sediment survey completed in December 2014 returned anomalous values in gold, silver and pathfinder elements (copper, lead and zinc) to the north of Esperanza in the area where the La Lajita fault extends along strike to the northwest.
La Lajita Property
The La Lajita Property comprises 12 mining concessions located in the south-west corner of Durango State, Mexico, along the western flanks of the Sierra Madre Occidental. This area is recognized as an extremely prospective mineral belt for gold and silver deposits. Furthermore, this area is a virgin district having never been discovered or worked by the Spanish and there are no historic mining records. There are numerous pits, adits and small shafts that have been developed by local gambusinos during the 1900's and artisanal mining in the area continues to this day.
Detailed geological mapping and channel sampling program completed by Oceanus has confirmed the presence of eight (8) gold-silver prospects along the La Lajita fault system which has been traced along surface for over three kilometers. These prospects from north to south are; La Fortuna, Esperanza, Las Zanjas, Santo Nino, Dos Hermanos, Mina la Guadalupe, Las Ratones and the Cerro del Sol. At Mina la Guadalupe, gold mineralization has been exposed for 200 meters on surface in numerous small scale workings, and in one significant underground working, where the miners drifted in the high-grade gold mineralization 120 meters along strike.
Gold and silver mineralization at the Santo Nino prospect is associated with a 20 to 30 meter thick siliceous breccia occurring along a west dipping fault. The fault dislocates a largely felsic to andesitic sequence of tuffaceous rocks of the Upper Volcanic Complex. The gold bearing system at Santo Nino is hosted by a brecciated, maroon andesite that has two generations of gold-bearing quartz, a green siliceous breccia variety and a white quartz vein variety. The green siliceous breccia is typically auriferous with visible gold and is enveloped by a broader mineralized white quartz zone.
Qualified Person
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 and approved the scientific and technical information in this press release.
About Oceanus Resources Corporation
Oceanus Resources Corporation is a gold exploration company run by a team of experienced mine finders. Oceanus is advancing the La Lajita Property located in the Sierra Madre Gold and Silver Belt near Durango, Mexico.
For further information, please contact:
Glenn Jessome
President and CEO
(902) 482-4494
[email protected]
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.
