VANCOUVER, BC, Sept. 9, 2024 /CNW/ - First Nordic Metals Corp. (the "Company" or "FNM") (TSXV: FNM) (OTCQB: FNMCF) (Germany: HEG0) is pleased to provide an exploration update on its 100%-owned Storjuktan project ("Storjuktan" or the "Project") located on the Gold Line belt, northern Sweden, approximately 30 kilometers ("km") north of the Company's flagship Barsele project. At Storjuktan, the Company's glacial till geochemical survey, which started several weeks ago, is progressing well and the Company has recently commenced a property-wide geophysical survey.
Taj Singh, First Nordic President and CEO comments: "Storjuktan already has one highly prospective target advancing towards drilling – the 5.5 km Nippas target – but 90% of the project area has not had any significant geochemical and geophysical work carried out on it. We believe there is high potential for the discovery of other exciting targets at Storjuktan.
"The fall will be a busy and exciting period for FNM, with key technical programs being carried out at multiple high-priority projects on the Gold Line belt (including Paubäcken and Klippen). With the adjacent, resource-stage Barsele project as our foundation, our near-term aims are to progress our advanced targets through drilling and to discover new targets on what we believe will be Europe's next major gold camp."
Storjuktan UAV Magnetic Geophysical Survey
FNM has commenced its unmanned aerial vehicle (UAV) magnetic geophysical survey over the entire 25,000 hectares ("ha") of the Storjuktan Project area. Approximately 35% of the survey has been completed at the time of this news release and the survey is projected to be completed by the end of September, weather permitting. Radia Oy, an industry leader in UAV magnetic surveys, has been commissioned to conduct the 5,193 line-km survey. The survey will be flown on 50 meter ("m) spaced lines at an average height of 45 m. Following completion of the survey, the data will be systematically interpreted to map the underlying geology and structural architecture of the Storjuktan project area in detail.
The survey has two objectives: (i) mapping of the structural architecture of the northern portion of the Gold Line belt for target definition in areas where surficial geochemical anomalies have been observed, and (ii) identification of new targets within the Storjuktan project area, where no exploration activities have taken place to date.
Storjuktan Surface Till Geochemistry Survey
The Company has collected approximately 6,500 B-Horizon glacial till samples, representing approximately 30% of the total coverage area planned for 2024. Glacial till sampling will continue through the fall. The survey is designed to cover the remaining 20,000 ha of the 25,000 ha project area. A high-density sample spacing is used (15 m x 75 m sample spacing) to identify anomalous areas. All samples are screened using XRF (x-ray fluorescence) analysis for gold pathfinder elements and samples from anomalous areas will be sent for gold assay at an external laboratory.
Program Update on Other Projects
The Company's work plans for its other 100%-owned projects remain on track; this includes:
- Klippen project: top-of-bedrock / base-of-till (BoT) drilling to start – October 2024
- Storjuktan project (Nippas target): BoT drilling – Q4 2024
- Paubäcken project (Harpsund target): BoT drilling – Q4 2024
- Paubäcken project (Aida target): BoT and diamond drilling – Q1 2025
About the Storjuktan Project
The Storjuktan project is a large, early-stage project strategically positioned north of the Company's Barsele project. It consists of seven contiguous licenses covering 30,000 ha located in the northern portion of the Gold Line belt. The Storjuktan project contains over 60 km of the Gold Line structure. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring mainly on second- and third-order splay structures.
About the Gold Line Belt Geology
The geology of the Gold Line belt consists of an inverted volcano-sedimentary sequence intruded by small pre- to syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. Lithologies are regionally metamorphosed to upper greenschist and amphibolite grade facies, and gold mineralization is associated with intense sericite, carbonate, biotite, and calc-silicate alteration assemblages and sulphide minerals pyrite, arsenopyrite, and pyrrhotite. The regional Gold Line structural corridor runs up the axis of the belt with many jogs, splays, and zones of structural complexity that are potential locations for dilation and deposition of gold bearing fluids. These lithological sequences are deemed to be highly prospective for orogenic gold deposits.
ABOUT FIRST NORDIC METALS
The Company's flagship asset is the Barsele gold project, located in Sweden and in a joint venture with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is the 100%-owner of a district-scale license position of close to 100,000 hectares on Gold Line belt. Additionally, in northern Finland FNM is the 100%-owner of a district-scale position covering the entire Oijärvi greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
Qualified Person
Benjamin Gelber, P. Geo., Chief Technical Director of the Company, is the Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.
Follow First Nordic Metals:
Twitter: @fnmetals | Youtube: @firstnordicmetalscorp | LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals | Instagram: @firstnordicmetals
Forward-Cautionary Note Regarding Forward-Looking Statements:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements, including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and First Nordic Metals undertakes no obligation to update such statements, except as required by law.
APPENDIX
Figure 1: Storjuktan surface till sampling and UAV magnetic geophysics survey plan map (as at September 9, 2024)
SOURCE First Nordic Metals Corp.
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