VANCOUVER, March 18, 2019 /CNW/ - Boreal Metals Corp. ("Boreal" or the "Company") (TSXV:BMX) is pleased to announce that further exploration drilling is underway at its Gumsberg project in Sweden. Boreal plans to conduct approximately 1,500 metres of diamond drilling to test a variety of shallow drill targets across the prospective high grade volcanogenic massive sulphide ("VMS") mineral trends at Gumsberg. As part of this program Boreal will conduct additional exploration drilling at the newly discovered Östra Silvberg South Zone with the objective of extending the strike length and down-plunge continuation of this high-grade zone.
"Our team is eager to get back to Gumsberg and continue chasing the outstanding results from our previous drilling both at Östra Silvberg and the Vallberget-Loberget VMS Zones," stated Patricio Varas, Executive Chairman. "We plan to test the continuity of what we believe is the periphery of primary VMS mineralization in the vicinity of the Östra Silvberg Mine, where the new high-grade South Zone was discovered and where preliminary results from a down-hole geophysical survey indicate significant conductors may be present."
Overview of the Gumsberg Project
The strategically situated Gumsberg project consists of seven distinct project target areas in the Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS and related styles of mineralization have been identified. Precious and base metal mineralization at Gumsberg was mined from the thirteenth century through the early nineteenth century, with over 30 historic mines present on the property, most notably the Östra Silvberg mine, which was the largest silver mine in Sweden between 1250 and 1590.
Drill highlights from previous Boreal diamond drilling are presented in the table below (for full results please refer to Boreal news releases dated February 28, 2018, May 2, 2018, January 28, 2019 and March 3, 2019):
Hole ID | From Meters | To Meters | Length Meters | Zn % | Ag g/t | Pb % | Cu % | Au g/t | Prospect Name |
BM-17-001X | 99.30 | 106.00 | 6.70 | 5.19 | 16.39 | 1.08 | 0.30 | 0.08 | Vallberget |
BM-17-002 X | 88.10 | 88.62 | 0.52 | 5.65 | 1.63 | 0.06 | 0.19 | 0.05 | Vallberget |
BM-17-002 X | 92.30 | 94.20 | 1.90 | 13.55 | 51.75 | 5.23 | 0.27 | 0.34 | Vallberget |
BM-17-003 X | 101.35 | 102.55 | 1.20 | 6.73 | 25.00 | 2.10 | 0.35 | 0.12 | Vallberget |
BM-17-004 X | 105.77 | 106.37 | 0.60 | 4.81 | 24.94 | 1.96 | 0.01 | 0.02 | Vallberget |
BM-17-005 Y | 122.30 | 133.24 | 10.94 | 16.97 | 656.70 | 8.52 | 0.03 | 0.76 | Östra Silvberg |
BM-17-005 Y | 155.43 | 165.00 | 9.57 | 5.87 | 183.90 | 2.33 | 0.04 | 0.52 | |
BM-17-005Y | 178.16 | 179.00 | 0.84 | 11.56 | 218.02 | 5.77 | 0.04 | 0.30 | |
BM-17-006 X | 14.88 | 19.95 | 5.07 | 3.00 | 9.25 | 0.96 | 0.06 | 0.02 | Vallberget |
BM-17-008 X | 13.25 | 13.60 | 0.35 | 3.20 | 6.85 | 0.03 | 0.05 | 0.02 | Vallberget |
BM-17-008 X | 86.35 | 87.15 | 0.80 | 1.16 | 0.85 | 0.05 | 0.02 | 0.00 | Vallberget |
BM-17-011 X | 53.50 | 56.65 | 3.15 | 3.03 | 11.69 | 0.62 | 0.44 | 0.19 | Vallberget |
BM-17-011 X | 130.50 | 137.20 | 6.70 | 7.01 | 11.14 | 0.44 | 0.10 | 0.00 | |
BM-17-012 W | 321.00 | 322.00 | 1.00 | 1.22 | 6.20 | 0.60 | 0.00 | 0.10 | Östra Silvberg |
BM-17-012 W | 325.00 | 329.00 | 4.00 | 1.01 | 4.25 | 0.42 | 0.01 | 0.19 | |
BM-17-012 W | 332.00 | 339.00 | 7.00 | 1.56 | 12.20 | 0.85 | 0.02 | 0.18 | |
GUM-18-003 X | 105.00 | 116.00 | 11.00 | 5.89 | 239.00 | 2.51 | 0.04 | 0.96 | Östra Silvberg |
GUM-18-004 X | 162.16 | 173.17 | 11.01 | 7.45 | 275.12 | 2.65 | 0.05 | 0.77 | Östra Silvberg |
GUM-18-006 X | 210.84 | 224.44 | 13.60 | 6.26 | 17.36 | 1.85 | 0.13 | 0.08 | Östra Silvberg |
GUM-18-007 X | 103.58 | 104.75 | 1.17 | 2.67 | 32.00 | 1.27 | 0.02 | 0.44 | Östra Silvberg |
GUM-18-008 X | 190.75 | 196.40 | 5.65 | 8.75 | 289.32 | 4.67 | 0.04 | 1.08 | Östra Silvberg |
GUM-18-009 X | 105.02 | 105.94 | 0.92 | 3.98 | 32.80 | 0.94 | 0.15 | 0.23 | Östra Silvberg |
W True width unknown |
X Apparent widths reported - true widths are estimated between 80-100% of reported intervals. |
YApparent widths reported - true widths are estimated at 20-50% of reported interval. |
Table 1. Significant Drill Intercepts by Boreal at the Gumsberg Project |
Drill intercepts by Boreal to date include VMS type exhalative massive sulfide horizons, primary replacement style and related high-grade lenses and shoots of silver, zinc, and lead mineralization. Similar styles of mineralization occur throughout the Gumsberg land position and across the greater Bergslagen District in southern Sweden, which is host to multiple world-renowned base metal sulphide mines including Boliden's Garpenberg Mine, Lundin Mining's Zinkgruvan Mine and Lovisagruvan AB's Lovisagruvan Mine.
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. The Company is led by an experienced management team and technical team, with successful track records in mineral discovery, mining development and financing.
Qualified Person
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 Gumsberg project contained in this news release. Mr. MacNeil is Vice President Exploration for Boreal Metals Corp.
On behalf of Boreal Metals Corp.
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 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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