VANCOUVER, Sept. 26, 2018 /CNW/ - Boreal Metals
Corporation ("Boreal" or the "Company") (TSXV:BMX) is pleased to
announce the commencement of a 1,000 metre exploratory diamond
drill program at its Burfjord copper-gold project in Norway. The Burfjord Copper-Gold Project is
host to numerous high-grade veins with associated copper-rich
envelopes developed across a large, 4 by 6 kilometre area and
represents an attractive exploration drilling target with bulk
tonnage mining potential.
"We are highly optimistic that the current drill program will
deliver widespread copper mineralization as observed on surface by
our geological team. With some luck, the Burfjord project will bear
economic zones that can excite our shareholders," stated Karl
Antonius, President and CEO. "Discovering significant
mineralization in the subsurface at Burfjord represents an exciting
near-term growth opportunity for the Company."
Only limited exploration has taken place in the modern era and
only one prospect area has been drill tested to date. The
best historical drill intercept consists of 7 metres @ 3.6%
copper1, and was obtained from the Cedarsgruve (mine)
area in the northern portion of the claim block.
________________________
|
1
|
Source: NGU Deposit
Factsheet, Deposit Area 1943-010, 1997. Boreal's property
reviews have confirmed the geologic setting and occurrence of
mineralization on the Project, and considers the historic
exploration data to be relevant as reported in public disclosures
and government reports.
|
Overview of the Burfjord Project
The Burfjord Copper-Gold Project, located in the Kåfjord Copper
Belt near Alta, Norway is highly
prospective for Iron Oxide Copper Gold (IOCG) and Sediment Hosted
Copper mineral deposits which contribute significantly to copper
production globally.
High-grade copper-gold veins at Burfjord (Figure 1) are
surrounded by envelopes or disseminations of copper mineralization
extending tens to hundreds of metres laterally into the host
rocks. Boreal believes this mineralization represents an
attractive bulk tonnage exploration drilling target. Copper
bearing veins in the area are dominated by ferroan carbonate and
iron-oxide minerals (magnetite and hematite), but also contain the
economically important minerals chalcopyrite, bornite and
chalcocite in addition to cobalt-rich pyrite as generally
coarse-grained (often 0.5 centimetre to multi-centimetre scale)
disseminations in the veins. Discreet zones of cobalt and
nickel mineralization are also present on the property.
The Burfjord project is comprised of six exploration licenses
totaling 5,500 hectares in the Kåfjord Copper Belt. Copper
mineralization was mined in the Burfjord area during the nineteenth
century, with over 30 historic mines and prospects developed along
the flanks of a prominent 4 x 6 kilometre fold (anticline)
consisting of interbedded sedimentary and volcanic rocks.
Many of the rocks in the anticline are intensely
hydrothermally altered and contain sulphide mineralization.
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 Burfjord project contained in this news release. Mr.
MacNeil is Vice President Exploration for Boreal.
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 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