Norden Crown Provides Exploration Update for the Gumsberg and Burfjord JV Copper-Gold Projects
VANCOUVER, BC, Oct. 28, 2021 /CNW/ - Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) (OTC: NOCRF) (Frankfurt: 03E) is pleased to provide an exploration update for its Burfjord Copper-Gold Project ("Burfjord") in northern Norway, which is 100% owned but subject to an option (as described further, below) and its 100% owned Gumsberg Project ("Gumsberg"), located in the Bergslagan province in southern Sweden.
Norden Crown, in partnership with Boliden Mineral AB ("Boliden"), recently completed a 9 hole, 2,208.7 metre exploration drilling program at Burfjord, which was designed to test selected geological, geochemical and geophysical targets, with geochemical results expected in the coming weeks (Figure 1). In addition to diamond drilling, Norden Crown completed 21.5 line-kilometres of ground–based time domain electromagnetic geophysics ("TEM") over high priority targets at Burfjord with the objective of identifying conductive copper sulphide mineralization for the purpose of drill testing (Figure 1).
Norden Crown is currently planning a soil sampling campaign and a high-resolution magnetic survey at the Fredriksson Gruva prospect at Gumsberg. Results from this work will be combined with ongoing lithological and structural mapping to produce a 3-dimensional interpretation of the distribution of silver-zinc-lead mineralization and will form the basis of a follow up drilling program at Gumsberg.
EXPLORATION AT BURFJORD COPPER GOLD PROJECT, NORWAY
Norden Crown, together with partner Boliden, recently completed a Phase I diamond drill program and a 21.5 line-kilometre ground–based TEM survey at Burfjord. Phase II of a previously announced UAV magnetic survey1 is planned for Q4 2021. Previous drilling by Norden Crown2 at Burfjord returned compelling results including an intercept of 32 metres averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of 4.31% copper and 2.22 g/t gold) at shallow depths below a cluster of historic mine workings3,4. Historical drilling at Burfjord (Cedarsgruvan) was reported to have returned 7.0 metres averaging 3.6% copper5.
Burfjord Diamond Drilling
A total of 9 holes (2,208.7 metres) have been drilled at Burfjord to test high priority Iron Oxide Copper Gold ("IOCG") targets located within the highly copper-gold anomalous Burfjord Anticline (Figure 1). Diamond drilling was focused on lithological, structural, geochemical and geophysical targets with the objective of determining the upside copper-gold potential of the Burfjord Project. Drilling was completed to an average depth of 245 metres and geochemical results are expected in the coming weeks.
Burfjord Time Domain Electromagnetic Geophysics
Norden Crown engaged GRM Geophysics (Finland) to conduct approximately 21.5 line–kilometres of TEM geophysics at Burfjord. The survey includes one loop and expands coverage of the TEM data collected in 20201, which identified a high-priority conductor measuring 1,900 metres between copper targets at Gamlegruvan and A-Gruva (Figure 1). TEM geophysics at Burfjord is used to identify conductive materials including inter-connected sulphide minerals such as chalcopyrite. Conductive anomalies identified using TEM geophysics are used to increase confidence in previously identified lithological, structural and geochemical targets (Figure 1). Furthermore, resistivity and conductivity data obtained from the TEM survey will enhance Norden Crown's geological interpretations and will be used to track copper and gold associated sulphide mineralization at depth and to increase confidence in the planned exploration drilling targets. Results of this recent TEM survey are expected in the coming weeks.
Burfjord Joint Venture Terms
Norden Crown entered into an option agreement (the "Agreement") with Boliden in respect to Burfjord6. In order to earn a 51% interest in the Project, Boliden must fund 100% of the exploration programs by spending US$6 Million within four years of the date of the Agreement.
Overview of the Burfjord Project
Burfjord, located in the Kåfjord Copper Belt near Alta, Norway, is highly prospective for IOCG and sediment hosted copper mineral deposits. Copper-gold veins at Burfjord that were historically mined (pre 20th century) at reported cut-off grades of 3-5% Cu are surrounded by envelopes of stockwork veins or disseminations of copper mineralization extending tens to hundreds of metres laterally into the host rocks.
Norden Crown and Boliden believe this mineralization has economic potential and represents an attractive bulk tonnage exploration target. Burfjord is comprised of six exploration licenses totaling 5,500 hectares in the Kåfjord Copper Belt near Alta in Norway. During the nineteenth century, copper mineralization was mined from 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.
EXPLORATION AT GUMSBERG SILVER-ZINC-LEAD, SOUTHERN SWEDEN
Ongoing 2021 exploration work at Gumsberg is focused on expanding the footprint of Broken Hill-Type ("BHT") mineralization intercepted at the Fredriksson Gruva historical mine workings in March 20217. A Phase I geological mapping and sampling program has been completed and Norden Crown is planning a high resolution magnetic geophysical survey which will be used to trace strongly magnetic mineralization (magnetite associated) in the subsurface. Precious metal enriched based metal mineralization at Fredriksson Gruva is spatially associated with a broader horizon of magnetic iron and manganese-rich chemical sedimentary rocks. This thick magnetic sequence is geologically and geophysically distinctive and can be modeled in three dimensions using detailed magnetic data. Regional magnetic geophysical data sourced from the Geological Survey of Sweden suggests that the prospective magnetic anomaly (and coincident magnetite-bearing iron formation) extends over 21 kilometres across the Gumsberg West Licence (southwest of Fredriksson Gruva), greatly enhancing the exploration potential for additional BHT discoveries (see Figure 2).
An extensive, tightly spaced high resolution ground magnetic survey is planned at Fredriksson Gruva and is expected to commence in Q4 2021. Results from this survey will be integrated with geological mapping and soil sampling data to generate a 3-dimensional interpretation of silver-zinc-lead mineralization at Fredriksson Gruva and will form the basis of a follow up diamond drilling program to test the continuity, grade and distribution of BHT mineralization.
About Norden Crown
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 historical 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.
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.
References
1 See news release dated August 5, 2021. |
2 See news release dated March 20, 2019. |
3 Intercept reported as seen in drill core. The true width is estimated at 85-100% of the reported interval. |
4 See news release dated March 20, 2019 for discussion of analytical methods, QA/QC and core handling protocols. |
5 Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997 |
6 See news release dated June 10, 2020. |
7 See news release dated March 1, 2021. |
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 exploration program (consisting of diamond drilling, mapping, prospecting, outcrop sampling, airborne magnetic and ground electromagnetic geophysical surveys) and Norden Crown's belief in the economic potential and attractiveness of Burfjord as a bulk tonnage target as discussed herein, the dates the various segments of the exploration program will commence, the duration of various segments of the exploration program, the anticipated timing of the results of the exploration programs described herein and the planned uses of the resulting data. 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,] the ability of the various contracted entities to complete their duties within the time expected by the Company; inclement weather conditions that may impede, delay or stop all or part of the exploration program; the effects of the Covid-19 epidemic or other epidemics or pandemics; mechanical breakdowns of equipment used in the exploration programs, changes in economic conditions or financial markets; the ability of Norden Crown to obtain the necessary consents required to explore, drill and develop the projects and, if obtained, to obtain such 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 +1.604.922.8810 or [email protected].
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