TORONTO, Jan. 27, 2025 /CNW/ - First Nordic Metals Corp. (the "Company" or "FNM") (TSXV: FNM) (OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the results from its recently completed regional geochemistry exploration program on the 100%-owned Storjuktan project area ("Storjuktan" or the "Project") of the Gold Line belt, northern Sweden.
Taj Singh, FNM CEO comments: "The Storjuktan project, immediately contiguous to the north of our resource-stage Barsele project, continues to highlight its emerging potential. Our H2-2024 geochemical program has returned four newly identified orogenic gold pathfinder anomalies, all multi-kilometric in scale (gold assays pending), and the identified As-Cu-Zn anomalies are all consistent with orogenic gold signatures on the Gold Line belt. These new targets add to the pipeline at Storjuktan, where the most advanced target is Nippas, a 5 km gold and pathfinder anomaly discovered last year, and where we started an extensive base-of-till drilling program several weeks ago (results pending). What is noteworthy is that only half of the Storjuktan project area has been sampled and we already have five large-scale targets to advance towards drilling."
H2-2024 Storjuktan Project Exploration Program
During the 2024 field season, FNM continued a property-wide till geochemical survey with the collection of approximately 17,000 B-horizon glacial till samples over the Storjuktan project area. The H2-2024 surficial geochemical exploration program consisted of an expansion of the previous year's regional till sampling program. Four new high priority kilometric-scale orogenic gold pathfinder anomalies have been identified consisting of arsenic-copper +/- zinc (As+Cu +/- Zn) (See Figures 1, 2 and 3 in Appendix below), demonstrating the effectiveness of the Company's exploration methodologies for target generation in a systematic and cost-effective manner. A subset of samples within the anomalous area identified are currently being selected for gold assay at an external laboratory. Based on these results, these identified targets will continue to be assessed and prioritized for follow up top-of-bedrock (i.e. base-of-till drilling ("BoT")) drilling in 2025.
A high-density sample spacing is used (15m x 75m sample average spacing) to identify anomalous areas. Sampling direction is designed to be perpendicular to structural corridors as well as oblique to the ice flow direction. To date, 21,000 samples of a planned 41,500 sample program have been collected representing approximately 50% coverage of the of the 25,000-hectare Storjuktan project area. Areas targeted to date include the south, central, and northernmost areas of the concession package. Sample coverage in most areas does not give complete coverage due to surficial ground conditions. As is common in glaciated terrains of northern Sweden, up to half of the total land surface area is covered with bogs and swamps where it is not possible to collect high quality surface samples year-round. Orogenic gold deposits of the Gold Line greenstone belt are typically associated with As-Cu-Zn +/- molybdenum (Mo) pathfinder elements. All samples are screened using XRF analysis (x-ray fluorescence) for typical gold pathfinder elements and samples from anomalous areas are currently being selected for gold assay at an external laboratory. Based on results, these new targets will be prioritized for follow up top-of-bedrock (i.e. base-of-till drilling ("BoT")) drilling later in 2025.
Southern Targets
The southern area of the Project contains three main sub-parallel, anastomosing shear corridors comprising the Gold Line belt structural corridor. These structures were targeted in the 2024 sampling program. Three new target areas have been identified in the sampling program (see Figures 1, 2 and 3 in Appendix below). The As+Cu +/- Zn pathfinder anomalies identified are coincident with the structural corridors and range in size from 1.2 km to 1.7 km in length and are up to 1 km wide in the down ice direction, which is roughly perpendicular to the structural trend in this area of the concession. A subset of the anomalous samples identified in all three target areas are currently being selected for gold assay at an external laboratory.
Northern Target
The main Gold Line belt structure appears to bifurcate in the northern extent of the Storjuktan project area and both the northeast and northwest trending structures were targeted in the 2024 sampling campaign. A cohesive As-Cu-Zn anomaly has been identified coincident with the northwest trending structure corridor measuring 1.7 km by 0.6 km and oriented in the down ice direction. Sampling was not completed in this area due to onset of winter conditions and the anomaly remains open along strike in both directions. The 2025 surface till geochemical sampling program will continue to develop this high priority target.
About the Storjuktan Project
The Storjuktan project is a large, early-stage project strategically positioned north of the Company's Barsele project. It consists of seven contiguous licenses covering 30,000 ha located in the northern portion of the Gold Line belt in northern Sweden, it and contains over 60 km of the regional Gold Line structure. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring mainly on second- and third-order splay structures.
The Nippas project is the most advanced target located on the Storjuktan project area. The geology consists of a sequence of inverted basin sediments and mafic volcanic rocks intruded by small syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. These lithological sequences are highly prospective for orogenic gold deposits.
About the Gold Line Belt Geology
The geology of the Gold Line belt consists of an inverted volcano-sedimentary sequence intruded by small pre- to syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. Lithologies are regionally metamorphosed to upper greenschist and amphibolite grade facies, and gold mineralization is associated with intense sericite, carbonate, biotite, and calc-silicate alteration assemblages and sulphide minerals pyrite, arsenopyrite, and pyrrhotite. The regional Gold Line structural corridor runs up the axis of the belt with many jogs, splays, and zones of structural complexity that are potential locations for dilation and deposition of gold bearing fluids. These lithological sequences are deemed to be highly prospective for orogenic gold deposits.
About First Nordic Metals
First Nordic Metals Corp. (FNM) is a Canadian-based gold exploration company, consolidating assets in Sweden and Finland, with a vision to create Europe's next gold camp. The Company's flagship asset is the Barsele Gold Project in northern Sweden, a joint venture project with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a district-scale license position comprised of three additional projects (Paubäcken, Storjuktan, Klippen), which combined with the Barsele Project, total 104,000 hectares on the Gold Line Belt. Additionally, in northern Finland, FNM is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi Greenstone Belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
CEO & Director
Qualified Person
Benjamin Gelber, P. Geo., Chief Technical Director of FNM, is the Qualified Person as defined in NI 43-101, and takes responsibility for the technical disclosure contained within this news release.
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Forward-Cautionary Note Regarding Forward-Looking Statements:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements, including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and FNM undertakes no obligation to update such statements, except as required by law.
SOURCE First Nordic Metals Corp.
For further information contact: Alicia Ford, Director, Corporate Development, Phone: 403-604-9646, Email: [email protected]
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