VANCOUVER, Feb. 28, 2018 /CNW/ - Boreal Metals Corp. ("Boreal" or the "Company") (TSXV:BMX) is pleased to announce high grade and other encouraging drill results from the ongoing 2,500 meter (planned) diamond drill program at Gumsberg. Drill results from the first five holes (1,146.7 meters) confirm the presence of high grade silver-zinc-lead mineralization with significant associated copper and gold mineralization. Drill intercepts include various styles of mineralization in massive sulfide horizons, some of which appear to be exhalite-type deposits. Similar styles of mineralization occur throughout the Bergslagen district in southern Sweden, which is host to multiple world-renowned base metal sulphide deposits.
"We are pleased to announce the results of the drill program at Gumsberg which to date have exceeded our expectations, with significant mineralization in the first five holes," stated Karl Antonius, President and CEO. "Intercepts in excess of one kilogram per tonne silver with over 45% combined lead and zinc at the Östersilvberg target are a testament to the metal endowment and significantly increases our confidence in the economic potential at Gumsberg. Confirming the presence of high grade exhalative style mineralization is central to Boreal's potential to build tonnage at Gumsberg."
SELECTED DRILL INTERCEPTS: DRILL HOLES BM-17-001 THROUGH BM-17-005
Apparent widths reported - true widths are estimated between 80-100% of reported intervals.
Apparent widths reported - true widths are estimated at 20-50% of reported interval.
The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS style mineralization have been identified. Precious and base metal VMS mineralization at Gumsberg was mined from the 13th century through the early 19th century, with over 30 historic mines present on the property, most notably the Östersilvberg mine which was the largest silver mine in Sweden between 1250 and 1590. Despite its long lived production history, relatively little modern exploration has taken place on the project. New geological interpretation, geophysical surveys and reconnaissance drilling by EMX Royalty Corp. and Boreal has led to the identification of multiple exploration targets, near the historic workings which are exposed at surface.
Overview of Gumsberg Target Areas
The current drilling at Östersilvberg is designed to target the down-plunge extension of mineralization below the historic mine workings, which extend to a depth of 250 meters. Östersilvberg is an attractive exploration target due to the presence of high grade silver-zinc-lead sulphides in historical mining dumps. In addition, miners in the 14th and 15th century focused on silver-rich mineralization, which suggests they may not have exploited the zinc rich parts of the system. Historical data, as well as, new surface data suggest there are stacked lenses of mineralization at Östersilvberg. Ongoing exploration drilling will test for these additional zones of mineralization in addition to testing below the historical workings to see if they are open along strike and down plunge.
The Vallberget-Loberget Trend is an attractive two kilometer-long zone of northeast trending, moderately to steeply southeast dipping precious and base metal-rich VMS style mineralization. Mineralization across these prospects includes high grade bodies of remobilized massive sulphides, replacement style mineralization, vein style mineralization and important exhalative sulphide mineralization. Historical mining efforts suggest the mineralization is laterally continuous and forms pipe-like, moderate to steeply southeast plunging ore shoots. Ongoing exploration drilling by Boreal is targeting each of these styles and geometries of mineralization.
The Gumsgruvan area contains rocks containing pervasive chlorite-anthophyllite-cordierite-garnet alteration as well as significant gold and copper mineralization that is consistent with VMS "feeder zones", which may have acted as conduits for the transport of metal bearing hydrothermal fluids to the paleosurface. This area is considered highly prospective for copper and gold mineralization and is the least mature trend in the 2017-2018 exploration program.
Quality Control, Quality Assurance and Core Handling Protocols
Drill core is logged and prepped for sampling before submittal to ALS in Malå, Sweden where it is cut, bagged and prepped for analysis. Accredited control samples (blanks and accredited standards) are inserted into the sample intervals regularly. Samples are dried (if necessary), weighed, crushed (70% < 2mm), and riffle split into two fractions. One is retained (coarse reject) and the other is pulverized to 85% < 75µm. Pulps are analyzed by ultra-trace ICP-MS (ME-MS41) and ICP-AES Au-Pt-Pd (PGM-ICP23). Over detection limit samples are reanalyzed using ore grade ICP-AES by aqua regia (ME-OG46) or by AAS in the case of high grade zinc (Zn-AAORE).
About Boreal Metals Corp.
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 techniques. The Company is led by an experienced management and technical teams, 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.
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
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