VANCOUVER, Jan. 28, 2019 /CNW/ - Boreal Metals Corp.
("Boreal" or the "Company") (TSXV:BMX) is
pleased to report assay results from the first four holes of a
recently completed nine hole, 1,620.8 metre diamond drill program
at its 100% owned Gumsberg project located in the prolific
Bergslagen Mining District in southern Sweden (see Figure 1).
"Boreal has made a new discovery of high grade mineralization
near the historic Östra Silvberg Mine on our Gumsberg project in
Sweden," stated President and
CEO Karl Antonius. "Boreal
has multiple high grade zinc-silver-lead-gold intercepts in the new
South Zone, which remains open at depth and along strike.
This is a very exciting development for the Company and is a
welcomed reward of our exploration efforts in Sweden."
Hole
|
From
|
To
|
Length
|
Zn
|
Ag
|
Pb
|
Au
|
ID
|
Metres
|
Metres
|
Metres
|
%
|
g/t
|
%
|
g/t
|
GUM-18-001
|
Intercepted
previously unidentified mine stope.
|
GUM-18-002
|
No Significant
Intercepts; geological interpretations suggest that this hole
failed to reach the targeted horizon.
|
GUM-18-003
|
105.00
|
116.00
|
11.00
|
5.90
|
239.00
|
2.51
|
0.96
|
Incl
|
105.00
|
108.00
|
3.00
|
5.71
|
386.00
|
2.30
|
2.33
|
and
|
109.65
|
111.10
|
1.45
|
23.78
|
666.48
|
9.37
|
1.72
|
and
|
113.00
|
114.00
|
1.00
|
4.73
|
222.00
|
2.83
|
0.70
|
and
|
114.80
|
116.00
|
1.20
|
6.96
|
227.00
|
3.49
|
0.31
|
GUM-18-004
|
162.16
|
173.17
|
11.01
|
7.45
|
275.12
|
2.65
|
0.77
|
Incl
|
162.16
|
164.18
|
2.02
|
11.09
|
313.00
|
3.61
|
0.76
|
and
|
165.28
|
166.18
|
0.90
|
8.93
|
403.00
|
3.62
|
1.17
|
and
|
165.28
|
168.50
|
3.22
|
8.57
|
343.39
|
3.68
|
1.52
|
and
|
169.45
|
172.25
|
2.80
|
11.05
|
429.14
|
3.25
|
0.70
|
|
*
Lengths reported as seen in drill core - true widths are estimated
to be 50% of reported intervals.
|
|
Table 1. Drill
Intercepts for holes GUM18-001 through GUM-18-004 from Boreal's
Gumsberg 2018-19 Diamond Drill Program
|
In December 2018 and January 2019, Boreal completed nine diamond drill
holes in the vicinity of the past producing Östra Silvberg Mine
(see Figure 1). Diamond drilling tested prospective
stratigraphy east and west of a previously reported intercept from
BM-17-005, which returned 10.94 metres of 16.97% zinc, 656.7 g/t
silver, 8.52% lead and 0.76 g/t gold south of the main Östra
Silvberg mine workings (see Boreal News Release dated February 28, 2018).
Drill holes GUM-18-003 and GUM-18-004 were drilled to the east
and west of the high grade mineralization identified by Boreal in
BM-17-005, and both returned 11.0 metre high grade intercepts
containing veinlet, disseminated, semi-massive and massive sulphide
mineralization. These intercepts are interpreted to be part
of a steeply eastward plunging mineralized body that is spatially
separated from the historically defined Östra Silvberg Mine
footprint. Drill holes BOL-009, BM-17-005, GUM-18-003 and
GUM-18-004 demonstrate over 130 metres of down plunge continuity
(see Figure 2).
Cosmetically similar zones of disseminated, veinlet, and vein
hosted semi-massive and massive sulphides were also cut in step-out
holes GUM-18-006 and GUM-18-008, which were drilled below and to
the east of the intercepts reported in BM-17-005, GUM-18-003 and
GUM-18-004. Analytical results from holes GUM-18-006 and
GUM-18-008 are expected in the coming weeks. Together, this group
of six drill intercepts constitutes an expanding zone of newly
recognized mineralization that remains open to the east and at
depth.
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 occur.
The project is road accessible year-round with nearby access
to skilled labour, power and rail. The VMS 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
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 (Zn-AAORE).
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 contained in
this news release. Mr. MacNeil is Vice President Exploration
for Boreal Metals Corp.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery
of zinc, copper, silver, gold and cobalt 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 technical
team, with successful track records in mineral discovery, mining
development and financing.
On behalf of Boreal Metals Corp.
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 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 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 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