VANCOUVER, BC, Sept. 1, 2020 /CNW/ - Boreal Metals Corp.
("Boreal" or the "Company")
(TSXV: BMX) is pleased to announce ongoing exploration on its 100%
owned silver-zinc-lead-gold Gumsberg Project located in the
Bergslagen Province of Southern Sweden. Boreal is conducting
soil sampling at the past producing Fredriksson Mine (21,000 tonnes
grading 53 g/t silver, 5.13% zinc, and 1.7% lead from a test pit;
and 45,000 tonnes grading 49 g/t silver, 5.77% zinc and 1.84% lead
underground) as part of an ongoing initiative to advance the
target to drill testing (Figure 1).
"The Fredriksson Mine contains silver-zinc mineralization
reminiscent of Broken Hill-type Pb-Zn-Ag (BHT) deposits, named
after the Broken Hill Deposit, the largest accumulation of Pb-Zn-Ag
on Earth1,2", stated Patricio Varas, Chairman and CEO of
Boreal. "Boreal is committed to advancing Fredriksson to
drill testing as a significant step forward for the Company and is
part of a broader strategy to conduct exploration drilling in three
significant areas with past production including Ostra Silvberg,
Vallberget-Loberget and Fredriksson."
Soil Survey Parameters and Analysis
A total of 112 soil samples colleced at 15-25 centimetres below
the organic horizon across 3 test lines with an average sample
station spacing of 15 metres and an average line spacing of 100
metres. Soil samples are analyzed by portable x-ray
fluorescence (XRF) and by ALS Scandinavia AB for Ionic Leach
(ME-MS23) and Leach PH (pH-MS23). A duplicate sample was
collected every 20 samples. Blind geochemical standards were
not incorporated into the orientation survey.
About Fredriksson Gruva (Fredriksson Mine)
Fredriksson Gruva was discovered in 1976 by LKAB Prospektering
AB. Exploration was carried out in 1976 and 1977 including
surface trenching, sampling and 9 diamond drill holes which
identified precious metal enriched base metal mineralization.
In 1977, AB Statsgruvor (ABS) acquired the Fredrikssongruvan
prospect and conducted open pit test mining in 1978. Test
mining was conducted to a depth of 20 metres below surface and
produced 21,500 tonnes grading 53 g/t silver, 5.13% zinc and 1.7%
lead, and to a depth of 20 metres 19783. A total
of 11 additional holes were drilled in 1979 to test the down plunge
extent of mineralization. Between 1980 and 1981 mining
activites resumed and an underground tram was installed. A
total of 45,000 additional tonnes grading 49 g/t silver,
5.77% zinc and 1.84% lead were produced from workings that extend
to a depth of 91 metres (4 underground levels)2.
Also during this period, 4 holes were drilled and a core relogging
progam was completed. In addition, surface trenching and a
magnetic gephysical survey was completed. Boreal staked the
Fredriksson Gruva prospect as part of a larger staking acquisition
(Gumsberg nr 9) in March 2017. This licence is refered to as
"Gumsberg West" and forms the western half of the highly
prospective Gumsberg Project.
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1Comparisons to the Broken Hill Deposit
are strictly for purposes of establishing deposit models and are
not indicative of mineralization hosted on the Company's
property.
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2Spry,
P.G., Teale, G.S., and Steadman, J.A., 2009, Classification of
Broken Hill-type Pb-Zn-Ag deposits: A refinement. Eos Transactions
AGU, v. 90 (22), Joint Assembly Supplement, Abstract,
V21A-01
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3Edberg,
L., and Flood, B., 1982. Rapport Grb 262 SLUTRAPPORT FRAN
DIAMANTBORRNINGARNA VID FREDRIKSSONGRUVAN (GYLLINGEN) 1981/1982©
Sveriges geologiska undersökning (SGU) (Geological Survey of
Sweden)
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About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery
of silver, zinc, copper 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 techniques.
The Company is led by experienced board, management and technical
teams, each 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
Standards of Disclosure for Mineral Projects, has read and
approved all technical and scientific information contained in this
news release. Mr. MacNeil is Vice President Exploration for
Boreal.
On behalf of Boreal Metals
Corp.
Patricio Varas, Chairman and
CEO
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. Forward-looking statements
may include, without limitation, statements relating to future
outlook and anticipated events, such as the successful completion
of the Private Placement or the anticipated use of proceeds of the
Private Placement by the Company. 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 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
