Investor Alert: Barsele Minerals Acquires Indirect 55% Interest in Gold Project
Acquires Agnico Eagle’s indirect 55% interest in the Barsele Project
Barsele Minerals is a Canadian junior mineral exploration company whose sole asset is the advanced-stage Barsele Gold Project. The company is pleased to announce that it has executed a non-binding letter of intent with Agnico Eagle Mines to acquire Agnico Eagle’s indirect 55% interest in the Barsele Project. Moreover, the company currently holds the remaining 45% interest in the Barsele Project. Upon completion of the Proposed Transaction, they would consolidate control of the Barsele Project. Further, the completion of the Proposed Transaction will be governed by the terms of a definitive agreement to be entered into between Barsele and Agnico Eagle.
"By tripling or quadrupling the existing exploration budget we're going to drill, drill, drill, adding ounces to the existing resource of 2.5 million," says President and CEO, Gary Cope.
The Barsele Project
The Barsele Project is located on the western end of the Proterozoic “Skellefte Trend”. This is, in fact, a prolific volcanogenic massive sulphide deposit belt, that intersects with the “Gold Line” in Northern Sweden. Moreover, both polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden as well as Storliden.
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