VANCOUVER, July 4, 2018 /CNW/ - Boreal Metals Corp. ("Boreal" or the "Company") (TSXV:BMX) is pleased to announce the commencement of field work and exploration programs at its Tynset polymetallic VMS project in Norway ("Tynset" or the "Project"). The Tynset project is located in the historic Røros District, Norway's most prolific base metal district.
"We are excited to announce the commencement of the Tynset programs in Norway. The exploration of Tynset's 30 km trend of VMS style mineralization is an extremely important target for Boreal's exploration growth strategy," stated Karl Antonius, President and CEO.
2018 Work Programs
Surface sampling, mapping and geophysical programs have commenced at Tynset, and will initially focus in the vicinities of the historic Vingelen, Fådalsgruven and Sivilldalen mines. Those mines operated at various times from the 1660's at Fådalsgruven through the early 1920's at Sivilldalen. Although historical production focused on copper, significant zinc mineralization is present in all of the mining areas as seen in outcrop exposures and in mine waste materials. These initial work programs will consist of surface sampling of soil and glacial till materials along projections of zones of mineralization in and around the historic mines.
Surface sampling will be accompanied by high resolution, ground-based magnetic geophysical surveys and geologic mapping. Tynset's massive sulfide mineralization has a strong magnetic response due to high concentrations of pyrrhotite, a magnetic ferrous sulfide mineral associated with the polymetallic sulfide mineralization. These zones are readily mappable by magnetic surveys. Depending on results, Boreal will also consider electromagnetic surveys as follow ups to the upcoming field programs.
The goal of the programs is to further refine drill site selections, in anticipation of future drilling in 2018 or 2019, and to identify additional zones of copper and zinc mineralization in the area.
Overview of Tynset
The Tynset VMS project in Røros District of Norway is one of four Scandinavian polymetallic projects acquired by Boreal in 2017 from EMX Royalty Corporation (TSX: EMX; NYSE: EMX). For transaction details, see Boreal News Release dated February 24, 2017 "Boreal Announces Swedish Acquistion".
The Tynset project is comprised of 17 exploration licenses totaling 17,000 hectares in the Røros Mining District in central Norway, and hosts a 30 kilometer trend of VMS style mineral occurrences and historic mines, including the Vingelen, Fådalsgruven and Sivilldalen mines. Little exploration work has been conducted within the licenses of the Tynset project over the past 30 to 40 years. However, sampling by the Norwegian Geological Survey in the 1990's and EMX has shown evidence for zinc, gold, and silver enrichments in several of the historic mines and prospects, and the Company believes that good potential exists for discovery of zinc and precious-metal enriched VMS deposits.
Additionally, the historic drilling that has been conducted in the mining areas has been very limited and shallow. Significant potential exists for additional discoveries at depth and along strike of the historic mines.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery of Zinc, Copper, Silver, Gold and Cobalt deposits in exceptional, historical mining project areas spanning Sweden and Norway. The Company aims to discover new economic mineral deposits in known mining districts that have seen little or no modern exploration techniques. The Company is led by an experienced management team and technical team, with successful track records in mineral discovery, mining development and financing.
Daniel MacNeil, P.Geo, a Qualified Person as defined by National Instrument 43-101, has read and approved all technical and scientific information related to the Modum project contained in this news release. Mr. MacNeil is Vice President Exploration for Boreal Metals Corp.
On behalf of Boreal Metals Corporation
Karl Antonius, President
Neither 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.
Cautionary Note Regarding Forward-Looking Statements
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 Boreal Metals Corp. 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, Boreal Metals Corp.'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 Boreal Metals Corp. 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 Boreal Metals Corp.'s plans and business objectives for the projects; the general ability of Boreal Metals Corp. 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 Boreal Metals Corp.'s management on the date the statements are made. Except as required by law, Boreal Metals Corp. undertakes no obligation to update these forward‐looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Boreal Metals
For further information: on Boreal please visit the Company website at www.borealmetals.com or contact Alexandra Woodyer Sherron at +1.604.922.8810 or [email protected]