VANCOUVER, July 9, 2019
/CNW/ - Boreal Metals Corp. ("Boreal" or the
"Company") (TSXV:BMX) is pleased to announce results from
its seven hole, 1,454.8 meter drilling program at the 100% owned
Gumsberg project located in the prolific Bergslagen mining district
in Sweden.
"We are delighted to see that the new Östra Silvberg South
Discovery continues to return high-grade silver-zinc-lead
mineralization," stated Patricio
Varas, CEO. "Drilling completed to date on this
zone has returned consistent intercepts from below surface to
roughly 250 metres. This new discovery at Gumsberg has
relatively low density of exploratory diamond drilling and remains
open in all directions. We are excited for what further
delineation drilling may deliver in the future."
Exploration drilling cut significant mineralization at each of
the target areas (Table 1). The majority of the drilling was
conducted at the newly discovered South Zone at Östra Silvberg and
returned up to 5.12% Zn, 2.27% Pb and 93 g/t Ag over 8.04 meters
(Table 1; Figures 1-2). Two of the four holes drilled at
Östra Silvberg also intersected unmapped mine workings, which
project to deeper levels and further east than was indicated by
historic mine maps (Table 1; Figures 1-2). In addition to
Boreal's drill successes, this also suggests that mineralization is
more extensive in the area than previously recognized.
Table 1. Gumsberg drilling results.
Hole
|
From
|
To
|
Length
|
Zinc
|
Silver
|
Lead
|
Gold
|
Prospect
|
ID
|
(m)
|
(m)
|
(m)
|
(%)
|
(g/t)
|
(%)
|
(g/t)
|
Name
|
GUM-19-01X
|
304.96
|
306.95
|
1.99
|
2.28
|
25.52
|
0.92
|
0.128
|
Ostra
Silvberg
|
Incl
|
304.96
|
306.08
|
1.12
|
3.38
|
37.88
|
1.31
|
0.171
|
GUM-19-02
X
|
No Significant
Intercepts
|
Ostra
Silvberg
|
GUM-19-03
X*
|
262.25
|
270.29
|
8.04
|
5.12
|
93.05
|
2.27
|
0.434
|
Ostra
Silvberg
|
GUM-19-04
Y
|
77.60
|
77.80
|
0.20
|
2.77
|
12.75
|
0.07
|
0.003
|
Gumsgruvan
|
GUM-18-05B
|
2018 hole extended to
242.2 m depth where it hit unmapped historical mine
workings
|
Ostra
Silvberg
|
GUM-19-05
|
No Significant
Intercepts
|
Gumsgruvan
|
GUM-19-06
Y
|
177.10
|
178.10
|
1.00
|
1.84
|
7.70
|
1.40
|
0.108
|
Vallbergbet
|
GUM-19-06
Y
|
183.10
|
184.10
|
1.00
|
1.04
|
3.24
|
0.69
|
0.091
|
X Lengths
reported as seen in drill core - true widths are estimated to be
50% of reported intervals
|
|
Y Lengths
reported as seen in drill core - true widths are estimated to be
90% of reported intervals
|
|
* Hole encountered a
previously unmapped stope and was terminated at 233.00 to
234.20
|
Boreal plans to continue step-out drilling at the high grade
Östra Silvberg South Discovery while testing high priority drill
targets identified in the Vallberget-Loberget area where high-grade
bedded, exhalative style zinc mineralization (sphalerite) has been
recognized in mining dumps around the old surface workings.
This exhalative-style of zinc mineralization forms large deposits
elsewhere in the prolific Bergslagen mining district (e.g., the
Lundin Mining Zinkgruvan deposit), and has not been previously
documented at Gumsberg.
Overview of the Gumsberg Project
The strategically situated Gumsberg project consists of seven
distinct project target areas in the Bergslagen Mining District of
southern Sweden totaling over
18,300 hectares, where multiple zones of VMS and related styles of
mineralization have been identified. Precious and base metal
mineralization at Gumsberg was mined from the thirteenth century
through the early nineteenth 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.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery
of zinc, copper, silver, and gold 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.
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 (ZnAAORE).
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 Corp.
On behalf of Boreal Metals Corp.
Patricio Varas, Chief Executive
Officer
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
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