VANCOUVER, Jan. 28, 2019 /CNW/ - Boreal Metals Corp. ("Boreal" or the "Company") (TSXV:BMX) is pleased to report assay results from the first four holes of a recently completed nine hole, 1,620.8 metre diamond drill program at its 100% owned Gumsberg project located in the prolific Bergslagen Mining District in southern Sweden (see Figure 1).
"Boreal has made a new discovery of high grade mineralization near the historic Östra Silvberg Mine on our Gumsberg project in Sweden," stated President and CEO Karl Antonius. "Boreal has multiple high grade zinc-silver-lead-gold intercepts in the new South Zone, which remains open at depth and along strike. This is a very exciting development for the Company and is a welcomed reward of our exploration efforts in Sweden."
Intercepted previously unidentified mine stope.
No Significant Intercepts; geological interpretations suggest that this hole failed to reach the targeted horizon.
* Lengths reported as seen in drill core - true widths are estimated to be 50% of reported intervals.
Table 1. Drill Intercepts for holes GUM18-001 through GUM-18-004 from Boreal's Gumsberg 2018-19 Diamond Drill Program
In December 2018 and January 2019, Boreal completed nine diamond drill holes in the vicinity of the past producing Östra Silvberg Mine (see Figure 1). Diamond drilling tested prospective stratigraphy east and west of a previously reported intercept from BM-17-005, which returned 10.94 metres of 16.97% zinc, 656.7 g/t silver, 8.52% lead and 0.76 g/t gold south of the main Östra Silvberg mine workings (see Boreal News Release dated February 28, 2018).
Drill holes GUM-18-003 and GUM-18-004 were drilled to the east and west of the high grade mineralization identified by Boreal in BM-17-005, and both returned 11.0 metre high grade intercepts containing veinlet, disseminated, semi-massive and massive sulphide mineralization. These intercepts are interpreted to be part of a steeply eastward plunging mineralized body that is spatially separated from the historically defined Östra Silvberg Mine footprint. Drill holes BOL-009, BM-17-005, GUM-18-003 and GUM-18-004 demonstrate over 130 metres of down plunge continuity (see Figure 2).
Cosmetically similar zones of disseminated, veinlet, and vein hosted semi-massive and massive sulphides were also cut in step-out holes GUM-18-006 and GUM-18-008, which were drilled below and to the east of the intercepts reported in BM-17-005, GUM-18-003 and GUM-18-004. Analytical results from holes GUM-18-006 and GUM-18-008 are expected in the coming weeks. Together, this group of six drill intercepts constitutes an expanding zone of newly recognized mineralization that remains open to the east and at depth.
The Gumsberg Project
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 occur. The project is road accessible year-round with nearby access to skilled labour, power and rail. The VMS mineralization at Gumsberg was mined from the 13th century through the early 1900s, 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. Despite its long-lived production history, relatively little modern exploration has taken place on the project. New geologic interpretations, geophysical surveys and reconnaissance drilling have led to the identification of multiple new exploration targets near the historic workings
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).
Daniel MacNeil, P.Geo, a Qualified Person as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is Vice President Exploration for Boreal Metals Corp.
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.
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 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 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 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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