Our Barsele Gold Project is located approx. 600 km due north of Stockholm & 40 km southeast of Storuman, a small town situated in Västerbottens Län, which is a regional district of Northern Sweden. Orex believes there is excellent upside potential & inherent value at Barsele - the main objective is to discover & define 1.5 Moz Au - 2.0 Moz Au deposit. Our total mineral claim holdings are 32,709 ha.
Since 1985, 414 diamond drill holes have been completed at Barsele - we aim to expand the known open-pit resource with definition drilling. Orex plans to spend at least $5,000,000 in the next 5 years to continue surface exploration & surveying on the property. Mining exploitation concessions have been in place since 2007, which will assist with the permitting process.
Several major gold deposits are situated nearby, including: Bjorkdal (Elgin Mining), Faboliden (Lappland Gold) and Svartliden (Dragon Mining).
CURRENT OREX PLAN
AGREEMENT WITH NORTHLAND RESOURCES S.A.
Under the terms of the Northland Agreement, Orex will acquire 100% of the Barsele Gold Project:
The Barsele Gold Project covers a sequence of metasedimentary and metavolcanic rocks of the Proterozoic Svecofennian system, identified with 3 main phases of granitoid intrusions in the region: early, middle, and post. An early orogenic granodiorite is the host rock of the Barsele Au mineralization.
The granodiorite exhibits a well-developed S2 penetrative foliation which is cut by ductile shear zones, faults, fractures & dilational quartz and quartz-carbonate sulphide veining. The granodiorite is quartz-feldspar phyric and is composed of sericitized plagioclase, quartz, biotite and lesser K-feldspar.
Au mineralization at Barsele is predominantly hosted within a medium-grained, highly fractured granodiorite that ranges in width from 200 m to 500 m with a strike-extent in excess of 8 km. The intrusion bends from an east-west orientation in the east to a northwest trend in the west, where 3 major zones of Au mineralization have been identified: Central, Avan & Skiråsen Zones. The Central and Skiråsen Zones have a combined strike length of 1.4 km and a width of 250 m. A 4th mineralized gold zone, Skirträskbacken, is located approximately 3 km southeast of the Central Zone and extends into the Risberget gold prospect.
Two main styles of mineralization are interpreted at the Central Zone: (a) low to moderate grade Au mineralization associated with networks of thin tourmaline-quartz and quartz-calcite-arsenopyrite veinlets in granodiorite, and (b) high-grade Au-Ag-Zn-Pb mineralization in syn-tectonic quartz-sulphide veins. Most exploration in the Central and Avan Zones has focused on the low-grade Au resource and there remains potential for discovery of additional high-grade quartz-sulphide vein mineralization.
Gold occurs as native metal, and has a general association with arsenopyrite but also occurs with pyrrhotite, calcite, chlorite & biotite. Base metal content of the deposit is typically low. Carbonate, sulphide and quartz-tourmaline veinlets are locally mineralized. The host-granodiorite contains less than 2% disseminated fine-grained sulphides consisting of arsenopyrite, pyrrhotite and pyrite.
The Norra Zone consists of massive sulphide mineralization hosted within a sequence of sheared felsic volcanics, foliated pyritic shales and pelitic sediments with a basal massive-sulphide zone and an upper-zone dominated by andesitic volcanics. The footprint of the main mineralized body at Norra, based on drilling, is some 300 m in strike-length varying from 5 m to 50 m in width.
The sulphide mineralization and associated alteration is a volcanic hosted massive sulphide (V-HMS) type. Gold is associated with the basal semi-massive arsenopyrite, pyrrhotite, chalcopyrite, galena, and sphalerite mineralization. Gold is probably remobilized and likely enriched by a later overprinting epithermal phase of mineralization.