VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 31, 2017) - Black Sea Copper & Gold Corp. (TSX
VENTURE:BLS)(OTCQB:BLSSF) ("Black Sea" or the "Company") is pleased to announce the results of the fall 2016 exploration mapping
and sampling program on the Zlatusha copper-gold property. The field program has refined and enhanced the existing targets and
outlined multiple additional target areas. There are currently 7 copper-gold porphyry and epithermal targets on the Zlatusha
license area.
Zlatusha is located approximately 40 kilometres northwest of Sofia in western Bulgaria within the Srednogorie endowed arc
segment of the West Tethyan Metallogenic Belt. The Srednogorie is an emerging porphyry copper-gold/epithermal belt positioned
between the world-class Timok Belt in eastern Serbia and the Panagyurishte Belt in central Bulgaria.
Fall 2016 Mapping Campaign. A systematic program of field mapping and sampling was conducted on the
Zlatusha property to improve the resolution of known surface targets and identify additional prospects. Detailed geological
mapping was completed at 1:20,000 scale (property-wide) and at 1:5000 scale (known targets) and documented lithology, alteration,
mineralization and veins, along with structural and magnetic susceptibility measurements. 195 samples were analyzed for 59
elements by ICP-MS and gold analysis by fire assay. The coarse rejects from the assayed samples were also analyzed for clay
mineralogy by TerraSpec (Short-Wave Infrared), in order to characterize the clay alteration mineralogy within a
porphyry-epithermal hydrothermal system context.
Zlatusha Target Areas. The 2016 exploration program has improved the understanding of the known
target areas, and has yielded multiple additional target areas. The target areas shown in Figure 1 are based on
alteration/sulphide/oxide zones in conjunction with anomalous copper and gold.
Property-wide mapping indicates that host rocks for the magmatic-hydrothermal alteration centers are andesite flows, breccias
and tuffs with local intercalated limestone intervals. These rocks are intruded by diorite to quartz monzonite porphyry
intrusions. Exposed portions of the alteration zones indicate footprints of up to 2500 metres by 1200 metres. Alteration zones
are typically developed in the vicinity of the porphyry intrusions, and are characterized by silica-sericite-clay assemblages
with local development of secondary biotite and skarn in addition to vein stockworks. Distal alteration assemblages which flank
the core zones are commonly characterized by chlorite/epidote in andesite host rocks, or marble in limestone host rocks. Primary
sulfides associated with the alteration footprints (typically pyrite with local chalcopyrite) are generally weakly oxidized, and
occur as disseminated zones and/or in stockwork-style fracture networks. Copper oxides are noted in various locales throughout
the property. Copper assays from grab samples between below detection to 4.45% copper, and gold assays in grab samples yielded
values between below detection to 0.73 grams per tonne gold. Table 1 contains assay results for the 98th percentile
rock samples from the 2016 sampling program.
The field mapping and analytical data demonstrate that the productive porphyry environment has been preserved at multiple
locations across the Zlatusha property.
Follow up Exploration. The next steps for exploration at Zlatusha planned for H1 2017 will involve
an airborne magnetic/radiometric survey, with follow-up IP (induced polarization) to refine the seven targets for drill testing.
The geophysical work will yield further insight into size, depth and position of porphyry style mineralization, and will improve
the target interpretation in covered areas where distal alteration is present.
To view "Figure 1 - Zlatusha target areas." accompanying this press release, please visit
the following link: http://media3.marketwire.com/docs/1084379.pdf
Sample |
|
RockClass |
|
Alteration |
|
Au g/t |
|
Cu % |
|
Mo g/t |
|
Ag g/t |
75223 |
|
Intermediate Porphyry |
|
Clay |
|
1.322 |
|
0.031 |
|
1 |
|
2.9 |
75557 |
|
Breccia (Hydrothermal) |
|
Silica |
|
1.615 |
|
0.005 |
|
9 |
|
18.4 |
75606 |
|
Intermediate Volcanic |
|
Clay |
|
3.557 |
|
0.011 |
|
11 |
|
23.8 |
POZ003 |
|
Intermediate Intrusion |
|
Clay-Silica |
|
0.006 |
|
8.307 |
|
-1 |
|
-0.3 |
BG 0515 |
|
Vein |
|
Clay-Silica |
|
0.327 |
|
0.869 |
|
19.42 |
|
900 |
BG 0545 |
|
Breccia (Volcanic) |
|
Clay |
|
0.010 |
|
4.454 |
|
0.67 |
|
99 |
Table 1 - Rock sample results from the 2016 surface program, representing the 98th percentile
gold or copper (Value in bold for meeting respective criteria).
Comments on Sampling, Assaying, and QA/QC. Black Sea's geochemical samples were collected in
accordance with CIM Best Practice standards and guidelines. The samples were submitted to Bureau Veritas in Poland for sample
preparation, followed by sample analysis in Vancouver, Canada. Gold was analyzed by fire assay with an AAS finish, and the
multi-element data was obtained following multi-acid digestion and analysis with 59-element ultra-trace ICP-MS techniques. As
standard procedure, Black Sea conducts routine QA/QC analysis on all assay results.
Qualified Person. Rory Kutluoglu, B.Sc. P.Geo., a Qualified Person as defined by National Instrument
43-101, has read and approved all technical and scientific information contained in this news release. Mr. Kutluoglu is the
Company's Vice President Exploration.
About Black Sea Copper & Gold
Black Sea Copper & Gold Corp. is a mineral exploration company active in the Black Sea region of Eastern Europe. The Company
has over 4 years of regional experience both technically and operationally within Bulgaria, Serbia, Turkey and Romania, and has
established a compliment of local technical, logistical, community and corporate support. Black Sea has demonstrated its ability
to identify new copper-gold porphyry and epithermal targets, and believes it has one of the most extensive proprietary
geological/exploration databases for Eastern Europe in the industry. The Company is committed to building a robust portfolio of
high quality copper and gold projects with the potential to become world-class mining assets.
Vince Sorace, President and CEO, Black Sea Copper & Gold Corp.
For further information regarding Black Sea Copper & Gold, please visit our website at www.blacksea.ca.
Cautionary Note Regarding Forward-Looking Statements
Neither the 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 contains certain statements that may be deemed "forward-looking statements". Forward-looking statements
are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Black Sea Copper & Gold believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are
subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking
statements. Such material risks and uncertainties include, but are not limited to, Black Sea Copper & Gold's ability to raise
sufficient capital to fund its obligations under its property option agreements, to maintain its mineral tenures and concessions
in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in
economic conditions or financial markets; the ability of Black Sea Copper & Gold to obtain the necessary permits and consents
required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion
relative to Black Sea Copper & Gold's plans and business objectives for the projects; the general ability of Black Sea Copper &
Gold to drill test its projects and find mineral resources; if any mineral resources are discovered or acquired, the Company's
ability to monetize any such mineral resources; and changes in environmental and other laws or regulations that could have an
impact on the Company's operations. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of
Black Sea Copper & Gold's management on the date the statements are made. Except as required by law, Black Sea Copper & Gold
undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.