VANCOUVER, Sept. 19, 2018 /CNW/ - Boreal Metals Corporation ("Boreal" or the "Company") (TSXV:BMX) is pleased to announce results from the recently completed 61-line kilometer ground magnetic geophysical survey at the Gumsberg Project ("Gumsberg" or the "Project") in southern Sweden. Linear magnetic trends are associated with previously defined high-grade surface and subsurface mineralization and are interpreted to reflect several highly prospective stacked mineralized horizons.
"The results of the ground magnetic survey at Gumsberg greatly increase the base and precious metal prospectivity of our high-grade Gumsberg Project," stated Karl Antonius, President and CEO. "The geophysical indications for multiple high-grade ore horizons vastly increases the potential for Boreal to build tons in the prolific Bergslagen Mining District where Boliden and Lundin are actively mining large precious metal enriched base metal deposits."
Vallberget-Loberget Ground Magnetic Survey
Ground magnetic data collected over the recently drilled Vallberget-Loberget prospect area further confirms the potential for layered/stacked or structurally repeated mineralized zones which represent attractive exploration drilling targets (Figure 1). These new targets significantly expand the Project's capacity to build tonnage over what now exceeds three kilometers of prospective geology.
High-grade precious metal enriched base metal mineralization (silver-zinc-lead-copper) is traceable at surface and by diamond drilling at depth and can contain magnetic minerals such as pyrrhotite (Figure 1). Ground magnetic survey data provides a means of tracing mineralized zones in the subsurface based on their magnetic properties. Prospective areas highlighted by the magnetic surveys will be evaluated in the context of the Project's geology to eliminate targets that contain magnetic rocks unrelated to mineralization (e.g. magnetite bearing iron formations), leading to new drill targets.
Not all mineralized zones contain sufficient magnetic minerals to show up in magnetic surveys. Consequently, there may be additional non-magnetic mineralized horizons on the Gumsberg Project that will require additional exploration methods (e.g. advanced geological interpretation, electrical techniques) to define.
The strategically situated Gumsberg Project includes six exploration licenses located in the Bergslagen Mining District of southern Sweden, totaling over 18,300 hectares, where multiple zones and styles of VMS-style mineralization have been identified. Mineral exploration is ongoing at Gumsberg and focused on testing additional zones of mineralization at several prospects which contain surface mineralization and/or subsurface mineralization in drill holes and historical workings.
Ground Magnetic Survey Parameters
A G859 Cesium Vapor Magnetometer, non-magnetic backpack and Tallysman WAAS/EGNOS ready GPS paired with a G-856AX proton Procession magnetometer base station was used to collect the Gumsberg survey data. Data was collected continuously over 13 days along staked lines and corrected for diurnal magnetic variations. A total of 61-line kilometers of data were collected with an average line spacing of 50 meters.
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.
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 Corporation.
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 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'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 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's plans and business objectives for the projects; the general ability of Boreal 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's management on the date the statements are made. Except as required by law, Boreal 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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