VANCOUVER, Dec. 3, 2018 /CNW/ - Boreal Metals Corporation ("Boreal" or the "Company") (TSXV:BMX) is pleased to announce the completion of seven diamond drill holes totalling 951 metres of exploratory diamond drill program at its Burfjord copper gold project in Norway. Drilling at Burfjord was completed ahead of time and under budget. Boreal would like to commend Arctic Drilling for their great performance on the project and recognizes the extraordinary service and strong support from several local businesses and the surrounding communities. Assay results are expected in the coming weeks.
"The Burfjord project with its high-grade vein and disseminated copper mineralization is an attractive early stage exploration opportunity," stated Karl Antonius, President and CEO. "We look forward to receiving the results of Boreal's first drill program on the property."
The Burfjord Project is host to numerous high-grade veins with associated copper-rich envelopes developed across a large area (~ 6 by 4 kilometres) and represent an attractive exploration drilling target with bulk tonnage mining potential.
Only limited exploration has taken place in the modern era and only one prospect area has been drill tested to date (1970's). The best historical drill intercept consists of seven meters @ 3.6% copper1, and was obtained from the Cedarsgruve (mine) area in the northern portion of the claim block.
About Boreal Metals Corporation
Boreal is a mineral exploration company focused on the discovery of Zinc, Copper, Silver, Gold, Cobalt and Nickel 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. 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 Burfjord project contained in this news release. Mr. MacNeil is Vice President Exploration for Boreal.
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.
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.
_______________________ 1 Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997. Boreal's property reviews have confirmed the geologic setting and occurrence of mineralization on the Project, and considers the historic exploration data to be relevant as reported in public disclosures and government reports.
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]