First Nordic Commences Base-of-Till Drilling Program at Klippen Project on the Gold Line Belt, Sweden
VANCOUVER, BC, Oct. 7, 2024 /CNW/ - First Nordic Metals Corp. (the "Company" or "First Nordic") (TSXV: FNM) (OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the commencement of a base-of-till ("BoT", also known as top-of-bedrock) drilling program on the 100%-owned Klippen Project ("Klippen" or the "Project") located in the southern extent of the Gold Line Belt, northern Sweden.
Taj Singh, First Nordic President and CEO comments: "The Klippen target currently being tested represents one of the most extensive gold and pathfinder element anomalies in the First Nordic portfolio, at over 5 kilometer long. The litho-structural setting is ideal for large orogenic gold deposits, and historical exploration has identified gold mineralization, but this does not seem to explain the size and intensity of the till anomaly, so the exploration potential here remains high. BoT drilling is the most effective method of targeting potential new discoveries under glacial till cover and has already proven fruitful at our Paubäcken Project's Aida discovery further north. We look forward to reporting results later this fall as well as advancing exploration on multiple assets on the Gold Line belt in Q4."
Q4 2024 Klippen Project Exploration Program
The fall Klippen Project BoT drilling program is designed to investigate bedrock sources of a > 5 kilometre ("km") by 350 meter ("m") wide historic gold, arsenic, copper and zinc glacial till anomaly oriented in the prominent ice flow direction. The program will include up to 120 BoT drill holes and is designed to systematically test the bedrock along a 1 km zone interpreted to be the most probable source of the till anomaly based on interpretation of geophysical data and ice flow direction (see Figure 1). Several other coincident arsenic, copper, zinc anomalies identified in the 2023 glacial till sampling program will also be tested. Samples from these target areas were analyzed using XRF (x-ray fluorescence) which did not analyze for gold but contain similar pathfinder element assemblages.
Historic BoT and diamond drilling campaigns carried out by previous operators was focused in a small area of the anomalous zone. Here, anomalous gold mineralization was encountered in both BoT and diamond drilling. Mineralization observed is mainly hosted within a highly strained and altered syn-kinematic granodiorite measuring 4.5 km by 0.5 km. Gold mineralization mainly occurs as sulphide veins consisting of pyrite, arsenopyrite, chalcopyrite and pyrrhotite hosted within the highest strain zones of the granodiorite and minorly within highly strained sedimentary and volcanic units along the margins of the granodiorite. Mineralization is associated with intense sericite, carbonate, epidote and biotite hydrothermal alteration assemblages extending laterally into wall rock. Interpretation of historic drill core has led to the interpretation that mineralization encountered to date may be distal to a larger zone of mineralization under the main area of the till anomaly.
About the Klippen Project
The Klippen project is located in a southern extension of the Gold Line Belt in northern Sweden. 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
The Company's flagship asset is the Barsele gold project, located in northern Sweden and in a joint venture with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is the 100%-owner of a district-scale license position of close to 100,000 hectares on Gold Line Greenstone Belt. Additionally, in northern Finland FNM is the 100%-owner of a district-scale position covering the entire Oijärvi Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
Qualified Person
Benjamin Gelber, P. Geo., Chief Technical Director of the Company, 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:
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This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although First Nordic believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
SOURCE First Nordic Metals Corp.
For further information contact: Alicia Ford, Business Development Manager, Phone: 403-604-9646, Email: [email protected]
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