Norden Crown Commences Diamond Drilling at Fredriksson Mine, Sweden
VANCOUVER, BC, Jan. 4, 2021 /CNW/ - Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) (OTC: BORMF) (Frankfurt: 03E) is pleased to announce that it has begun diamond drilling at the past producing Fredriksson Gruva (Fredriksson Mine) which is located on the Gumsberg Property in the Bergslagan Mineral Provice of southern Sweden. Silver-lead-zinc sulphide mineralization at Fredriksson Gruva is associated with ghanite in garnet-rich metamorphic rocks and is interpreted to belong to the Broken Hill Type (BHT) mineral deposit clan, named after the Broken Hill deposit, the largest accumulation of Pb, Zn and Ag on Earth1.
"Fredriksson Gruva is a very exciting shallow exploration drilling target" stated Patricio Varas, Norden Crown's. CEO, "Broken Hill-Type deposits constitute some of the world's largest ore deposits and the identification of this style of mineralization on the Gumsberg Licenses considerably increases the potential for a drill discovery."
Historical data at Fredriksson Gruva demonstrates silver-lead-zinc mineralized zones form a moderately east plunging fold geometry that is open in all directions (Figure 1). Test mining from an open pit where these zones reach the surface produced 21,000 tonnes grading 53 g/t silver, 5.13% zinc, and 1.7% lead2. Subsequent underground mining production down to 91 meters produced and additional 45,000 tonnes grading 49 g/t silver, 5.77% zinc, 1.84% lead1.
Fredriksson Gruva Diamond Drilling
Initial diamond drilling at Fredriksson Gruva consists of a 4-hole, ~700m test below the historical workings where a recent 3D geological modeling initiative including surface and subsurface lithology, structure and assay data demonstrates that silver-zinc-lead mineralization extends to approximately 400 meters depth. Mining at Fredriksson Gruva removed ore from a surface pit and from underground levels to approximately 120 meters down-dip (75 vertical meters from surface) and demonstrates that mineralization ranges between 3 and 10 meters in thickness. The goal of the initial drilling at Fredriksson Gruva is to confirm the silver-zinc-lead grades and to test the vertical and lateral continuity of mineralization.
1Spry, Paul & Teale, Graham & Steadman, Jeffrey. (2009). Classification of Broken Hill-Type Pb-Zn-Ag Deposits: A Refinement. AGU Spring Meeting Abstracts. |
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2 Edberg, 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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Norden Crown's 3D modeling utilizes drill results that are historical in nature. Norden Crown has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work to verify the results. Norden Crown considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling.
About the Gumsberg Project
The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen Province of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS and related styles of mineralization occur. Silver-rich mineralization at Gumsberg was mined from the 13th century through the early 1900s, 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. Despite its long-lived production history, relatively little modern exploration has taken place on the project. New geologic interpretations, geophysical surveys and reconnaissance drilling have led to the identification of multiple new exploration targets near the historic workings.
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 Norden Crown.
About Norden Crown Metals Corp.
Norden Crown 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 an experienced management team and an accomplished technical team, with successful track records in mineral discovery, mining development and financing.
On behalf of Norden Crown 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 Norden Crown 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, Norden Crown'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 Norden Crown 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 Norden Crown plans and business objectives for the projects; the general ability of Norden Crown 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 Norden Crown management on the date the statements are made. Except as required by law, Norden Crown 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 Norden Crown Metals Corp.
For more information on Norden Crown please visit the Company website at www.nordencrownmetals.com or contact us at +1.604.618.1835 or [email protected].
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