VANCOUVER, Dec. 4, 2018 /CNW/ - Boreal Metals Corporation
("Boreal" or the "Company") (TSXV:BMX) is pleased to
announce that the Company has engaged Arctic Drilling AB
("Arctic Drilling") to conduct diamond drilling at Gumsberg
in Sweden to follow up on previous
high grade intercepts. Boreal is mobilizing to commence a
planned 1,000 meter reconnaissance drill program in early December
and will test a variety of shallow drill targets.
"We are pleased to be working again with Arctic Drilling this
time on our Gumsberg Project in Sweden," stated Karl Antonius, President
and CEO. "The goal of this program is to conduct an
efficient test of several high priority targets in the vicinity of
the Östra Silvberg Mine, where we had good success earlier this
year. Arctic Drilling's cost effective and rapid drilling
rates will be a key component to this program."
Overview of 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 have
been identified. Precious and base metal VMS style
mineralization at Gumsberg was mined from the 13th century through
the early 19th 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.
On February 28 and May 2, 2018, the Company announced high grade and
other encouraging drill results from the 2,545 metre diamond drill
program conducted at Gumsberg in late 2017 and early 2018.
These drill results confirmed the presence of high-grade
silver-zinc-lead mineralization (e.g., with significant associated
copper and gold mineralization that extends along strike from and
below the historic mine workings in the area). Also
intersected were previously unrecognized zones of mineralization
away from the mine workings (e.g., 10.94 metres of 656.70 g/t
silver, 16.97% zinc, 8.52% lead and 0.76 g/t gold - see News
Release dated May 2,
2018). These represent novel discoveries of mineralization in
the district.
Drill intercepts included VMS type exhalative massive sulfide
horizons, primary replacement style and related high-grade lenses,
and shoots of silver-zinc-lead mineralization. Similar styles of
mineralization occur throughout the Bergslagen district in southern
Sweden, which is host to multiple
world renowned base metal sulphide deposits.
In September 2018, Boreal
announced the results of a 61 line kilometre, high resolution
ground magnetometer survey at Gumsberg (see the Company's New
Release dated September 19,
2018). The survey may be interpreted as layered/stacked or
structurally repeated mineralized zones and provided better
resolution of the known trends of mineralization in the
area. This data will play a key role in developing further
drill targets in the areas of the historic Vallberget-Loberget
mining trend, as they help define extensions of the known trends of
mineralization.
This follow up drill program at Gumsberg is being planned to
commence early December, with additional permitting efforts taking
place now.
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 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 Metals
Corporation 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 Corporation'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 Corporation 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
Corporation's plans and business objectives for the projects; the
general ability of Boreal Metals Corporation 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 Corporation's management on
the date the statements are made. Except as required by law, Boreal
Metals Corporation 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