VANCOUVER, March 18, 2019
/CNW/ - Boreal Metals Corp. ("Boreal" or the
"Company") (TSXV:BMX) is pleased to announce that further
exploration drilling is underway at its Gumsberg project in
Sweden. Boreal plans to conduct approximately 1,500 metres of
diamond drilling to test a variety of shallow drill targets across
the prospective high grade volcanogenic massive sulphide ("VMS")
mineral trends at Gumsberg. As part of this program Boreal
will conduct additional exploration drilling at the newly
discovered Östra Silvberg South Zone with the objective of
extending the strike length and down-plunge continuation of this
high-grade zone.
"Our team is eager to get back to Gumsberg and continue
chasing the outstanding results from our previous drilling both at
Östra Silvberg and the Vallberget-Loberget VMS Zones," stated
Patricio Varas, Executive
Chairman. "We plan to test the continuity of what we
believe is the periphery of primary VMS mineralization in the
vicinity of the Östra Silvberg Mine, where the new high-grade
South Zone was discovered and where preliminary results from a
down-hole geophysical survey indicate significant conductors may be
present."
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.
Drill highlights from previous Boreal diamond drilling are
presented in the table below (for full results please refer to
Boreal news releases dated February 28,
2018, May 2, 2018,
January 28, 2019 and March 3, 2019):
Hole
ID
|
From
Meters
|
To
Meters
|
Length
Meters
|
Zn
%
|
Ag
g/t
|
Pb
%
|
Cu
%
|
Au
g/t
|
Prospect
Name
|
BM-17-001X
|
99.30
|
106.00
|
6.70
|
5.19
|
16.39
|
1.08
|
0.30
|
0.08
|
Vallberget
|
BM-17-002
X
|
88.10
|
88.62
|
0.52
|
5.65
|
1.63
|
0.06
|
0.19
|
0.05
|
Vallberget
|
BM-17-002
X
|
92.30
|
94.20
|
1.90
|
13.55
|
51.75
|
5.23
|
0.27
|
0.34
|
Vallberget
|
BM-17-003
X
|
101.35
|
102.55
|
1.20
|
6.73
|
25.00
|
2.10
|
0.35
|
0.12
|
Vallberget
|
BM-17-004
X
|
105.77
|
106.37
|
0.60
|
4.81
|
24.94
|
1.96
|
0.01
|
0.02
|
Vallberget
|
BM-17-005
Y
|
122.30
|
133.24
|
10.94
|
16.97
|
656.70
|
8.52
|
0.03
|
0.76
|
Östra
Silvberg
|
BM-17-005
Y
|
155.43
|
165.00
|
9.57
|
5.87
|
183.90
|
2.33
|
0.04
|
0.52
|
BM-17-005Y
|
178.16
|
179.00
|
0.84
|
11.56
|
218.02
|
5.77
|
0.04
|
0.30
|
BM-17-006
X
|
14.88
|
19.95
|
5.07
|
3.00
|
9.25
|
0.96
|
0.06
|
0.02
|
Vallberget
|
BM-17-008
X
|
13.25
|
13.60
|
0.35
|
3.20
|
6.85
|
0.03
|
0.05
|
0.02
|
Vallberget
|
BM-17-008
X
|
86.35
|
87.15
|
0.80
|
1.16
|
0.85
|
0.05
|
0.02
|
0.00
|
Vallberget
|
BM-17-011
X
|
53.50
|
56.65
|
3.15
|
3.03
|
11.69
|
0.62
|
0.44
|
0.19
|
Vallberget
|
BM-17-011
X
|
130.50
|
137.20
|
6.70
|
7.01
|
11.14
|
0.44
|
0.10
|
0.00
|
BM-17-012
W
|
321.00
|
322.00
|
1.00
|
1.22
|
6.20
|
0.60
|
0.00
|
0.10
|
Östra
Silvberg
|
BM-17-012
W
|
325.00
|
329.00
|
4.00
|
1.01
|
4.25
|
0.42
|
0.01
|
0.19
|
BM-17-012
W
|
332.00
|
339.00
|
7.00
|
1.56
|
12.20
|
0.85
|
0.02
|
0.18
|
GUM-18-003
X
|
105.00
|
116.00
|
11.00
|
5.89
|
239.00
|
2.51
|
0.04
|
0.96
|
Östra
Silvberg
|
GUM-18-004
X
|
162.16
|
173.17
|
11.01
|
7.45
|
275.12
|
2.65
|
0.05
|
0.77
|
Östra
Silvberg
|
GUM-18-006
X
|
210.84
|
224.44
|
13.60
|
6.26
|
17.36
|
1.85
|
0.13
|
0.08
|
Östra
Silvberg
|
GUM-18-007
X
|
103.58
|
104.75
|
1.17
|
2.67
|
32.00
|
1.27
|
0.02
|
0.44
|
Östra
Silvberg
|
GUM-18-008
X
|
190.75
|
196.40
|
5.65
|
8.75
|
289.32
|
4.67
|
0.04
|
1.08
|
Östra
Silvberg
|
GUM-18-009
X
|
105.02
|
105.94
|
0.92
|
3.98
|
32.80
|
0.94
|
0.15
|
0.23
|
Östra
Silvberg
|
|
W True width
unknown
|
X Apparent widths reported
- true widths are estimated between 80-100% of reported
intervals.
|
YApparent widths reported - true
widths are estimated at 20-50% of reported interval.
|
|
Table 1.
Significant Drill Intercepts by Boreal at the Gumsberg
Project
|
Drill intercepts by Boreal to date include VMS type exhalative
massive sulfide horizons, primary replacement style and related
high-grade lenses and shoots of silver, zinc, and lead
mineralization. Similar styles of mineralization occur
throughout the Gumsberg land position and across the greater
Bergslagen District in southern Sweden, which is host to multiple
world-renowned base metal sulphide mines including Boliden's
Garpenberg Mine, Lundin Mining's Zinkgruvan Mine and Lovisagruvan
AB's Lovisagruvan Mine.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery
of zinc, copper, silver, gold, cobalt and nickel 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.
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.
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 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