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Norden Crown Continues to Cut High Grades at ÖStrasilvberg

Norden Crown Metals Corp. ( " Norden Crown " or the " Company ") (TSXV: NOCR) (OTC:NOCRF) ( Frankfurt : 03E) is pleased to report drill results from a recently completed 2365.6 meter program on the Gumsberg Project.  A total of 1,796.6 meters were drilled at the Östrasilvberg Prospect and is the focus of this news release.  The remaining 569 meters were drilled at Fredriksson Gruva where three holes cut semi-massive and massive Broken Hill Type mineralization.  These intercepts will be the focus of a subsequent news release which  the company expects to finalize in the days ahead.  The Östrasilvberg and Fredriksson targets are located on Norden's 100% owned Gumsberg Project, in the Bergslagen mining province in southern Sweden.

Several holes at Östrasilvberg intersected variable widths of massive sulphides with significant high-grade precious and base metal mineralization including, hole GUM 20-07 which intersected 2.6m of 476.27   g/t silver equivalent grade at a depth of 238.4m (Table 1). Hole GUM-07 also returned a 1.15m intercept with 661.27 g/t silver equivalent grade with an additional 2.7 g/t gold .  Hole GUM 20-9 intersected 4.3m of 287.71 g/t silver equivalent grade at a depth of 123.7m .  The highest grade intersection was in Hole GUM 20-03, which intersected 0.45m of 938.08 g/t silver equivalent grade at a depth of 91.8m .

"We are once again very impressed by the grades we have intercepted at the new Östrasilvberg South Discovery as we continue the expansion of its highgrade silver-zinc-lead mineralized zones." stated Patricio Varas , Chairman & CEO. "Norden is now in the enviable position of having three individual prospects, Ostrasilvberg, Fredriksson and Vallberget-Loberget on the Gumbsberg property that host massive, high grade mineralization to chase and are each capable of returning an economic mineral deposit."

Table 1.   Recent (2020-2021) D   rill Intercepts by Norden Crown at Östra   s   ilvberg.

Drill

From

To

Length

Zinc

Lead

Silver

Gold

Silver

Prospect

Hole

(meters)

(meters)

(meters)

(%)

(%)

(g/t)

(g/t)

Equivalent

Name

GUM-20-03

91.80

92.25

0.45

15.50

7.52

253.00

0.02

926.86

Östrasilvberg

GUM-20-04

330.35

330.70

0.35

1.13

2.54

82.90

0.01

179.05

Östrasilvberg

GUM-20-04

370.00

373.00

3.00

1.94

0.86

19.24

0.19

101.66

Östrasilvberg

Incl.

370.75

371.70

0.95

3.33

1.53

33.00

0.01

175.75

Östrasilvberg

GUM-20-07

238.40

241.70

2.60

6.76

2.91

159.82

0.42

444.98

Östrasilvberg

Incl.

238.40

239.30

0.90

13.73

4.23

381.39

0.36

920.90

Östrasilvberg

GUM-20-07

268.05

269.20

1.15

10.08

4.54

47.79

2.70

477.74

Östrasilvberg

GUM-20-08

313.15

313.50

0.35

1.39

2.16

133.00

0.00

228.50

Östrasilvberg

GUM-20-08

331.80

332.10

0.30

2.75

1.46

242.00

0.01

364.53

Östrasilvberg

Insufficient work has been done to report true thickness and lengths reported as seen in drill core, true widths are estimated to be 50-65% of reported intervals based on 3D modeling and angle to core axis observations.  Metal ratios are calculated assuming 100% recoveries at US $1806 Gold, US $27.65 Silver, US $ 1.05 Lead, US $ 1.29 Zinc.

Drilling at Östrasilvberg was designed to test the along-strike and down-plunge continuity of the Main and South Zone high-grade precious metal enriched base metal mineralization.  Four of the nine holes drilled at the Östrasilvberg prospect in the recent campaign did not reach the intended target(s) because they intersected post mineral mafic intrusions (sub parallel to the drill hole) or encountered poor ground conditions (fault rubble).

Norden Crown intends to carry out a property-wide airborne EM geophysical survey to trace the continuity of the mineralized VMS zones at the Östrasilvberg, Vallberget and Loberget high-grade trends.  The EM airborne survey will also cover the greater Gumsberg West land position, including the Fredriksson prospect, which is highly prospective for new discoveries.

Ö   strasilvberg South Zone Discovery

In December 2018 and January 2019 , Norden Crown completed nine diamond drill holes in the vicinity of the past producing Östrasilvberg Mine. Diamond drilling tested prospective stratigraphy east, west and down-plunge of the previously reported intercept from BM-17-005, which returned 10.94 metres of 656.7 g/t silver, 16.97% zinc, 8.52% lead and 0.76 g/t gold south of the main Östrasilvberg mine workings (see Boreal News Release dated February 28, 2018 ).  Holes GUM-18-006, GUM-18-008 and GUM-18-009 tested the down-plunge and along-strike continuity of newly recognized remobilized silver-zinc-lead-gold mineralization that occurs 50 metres south of the historical workings which was intercepted in BM-17-005 in Boreal's 2017/2018 program and again in holes BM-18-003 and BM-18-004. GUM-18-007 tested the down plunge extent of historically mined mineralization exposed at surface. Drill holes GUM-18-006 through GUM-18-009 expanded the newly discovered zone. Drill hole GUM-18-006 cut two zones of pyrite-rich massive sulphide lenses which returned significant lead-zinc mineralization interpreted to represent the primary sulphide source of the remobilized sulphides.

The presence of high-grade remobilized veins and primary volcanogenic massive sulphide mineralization significantly upgrades the potential at Östra Silvberg.

Table 1.  Key drill Intercepts by Norden Crown at Östra Silvberg.

Drill

From

To

Length

Zinc

Lead

Silver

Gold

Silver

Prospect

Hole

(meters)

(meters)

(meters)

(%)

(%)

(g/t)

(g/t)

Equivalent

Name

BM-17-05

122.3

133.24

10.94

16.97

0.76

657

8.52

1218.33

Östrasilvberg

GUM-18-03

105

116

11

5.89

0.96

239

2.51

450.27

Östrasilvberg

GUM-18-04

162.16

173.17

11.01

7.45

0.77

275

2.65

531.73

Östrasilvberg

GUM-18-06

210.84

223.44

12.6

6.73

0.08

18.5

1.99

235.89

Östrasilvberg

GUM-18-07

103.58

104.75

1.17

2.67

0.44

32

1.27

127.88

Östrasilvberg

GUM-18-08

190.75

196.4

5.65

8.75

1.08

289

4.67

594.68

Östrasilvberg

GUM-18-09

105.02

105.94

0.92

3.98

0.23

32.8

0.94

165.67

Östrasilvberg

GUM-20-03

91.80

92.25

0.45

15.50

7.52

253.00

0.02

926.86

Östrasilvberg

GUM-20-04

330.35

330.70

0.35

1.13

2.54

82.90

0.01

179.05

Östrasilvberg

GUM-20-04

370.00

373.00

3.00

1.94

0.86

19.24

0.19

101.66

Östrasilvberg

GUM-20-07

238.40

241.70

2.60

6.76

2.91

159.82

0.42

444.98

Östrasilvberg

GUM-20-07

268.05

269.20

1.15

10.08

4.54

47.79

2.70

477.74

Östrasilvberg

GUM-20-08

313.15

313.50

0.35

1.39

2.16

133.00

0.00

228.50

Östrasilvberg

GUM-20-08

331.80

332.10

0.30

2.75

1.46

242.00

0.01

364.53

Östrasilvberg

Insufficient work has been done to report true thickness and lengths reported as seen in drill core, true widths are estimated to be 50-65% of reported intervals based on 3D modeling and angle to core axis observations.  Metal ratios are calculated assuming 100% recoveries at US $1806 Gold, US $27.65 Silver, US $ 1.05 Lead, US $ 1.29 Zinc.

About the Gumsberg Project

The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen mining 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 Östrasilvberg 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%

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.

Cision View original content: https://www.newswire.ca/en/releases/archive/February2021/25/c0698.html

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Vertex Minerals Limited  Placement and Convertible Loan to Further Advance Reward

Vertex Minerals Limited Placement and Convertible Loan to Further Advance Reward

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that firm commitments have been received for a placement and convertible loan financing to raise up to $2.1M at $0.16 per share1 before costs (Capital Raising).

HIGHLIGHTS:

- Firm commitments have been received for a strategic placement to an existing investor to raise $1.10M (before costs) at an issue price of $0.16 per share (Placement).

- Placement proceeds will be further augmented by loan funding of $0.98M, under a convertible facility agreed with institutional / sophisticated investors (Loan). Subject to shareholder approval Loan funds will be converted to fully paid ordinary shares at an issue price of $0.16 per share.

- Proceeds are intended to be applied towards the acquisition of an Ore Sorter and the associated conveyance equipment, purchase of an Underground Drill Rig and working capital.

Vertex's Executive Chairman, Roger Jackson commented: "We are very pleased to have the support of a strategic investor in this placement along with some of our very supportive existing shareholders backing the convertible loan. The funds will be used to acquire a laser Ore Sorter which will be integrated into the Gekko gravity gold plant along with an underground drill rig.

The drill will be focussed on the high-grade targets below and along strike of the high-grade gold resource at Reward. We wish to build our gold inventory from within our Reward mine. We are on track with the plant refurbishment and preparations to move the Reward mine into production in January 2025" Placement Details.

The Placement will comprise the issue of up to 6,900,000 new fully paid ordinary shares at an issue price of $0.16 per share. Subject to shareholder approval, the placement participant will also receive three (3) free attaching options for every five (5) shares. The options will be on the same terms a existing VTXOA options, which have an exercise price of 25c per share and an expiry date of 17/07/2026 (VTXOA Options).

Loan Details

Loan funds are expected to be $976,000 and the Company intends to seek approval for conversion of the Loan at the Company's 2024 AGM, to be held on 29 November 2024. Upon approval by shareholders, loan funds will be automatically converted into fully paid ordinary shares at a conversion price of $0.16 per share, with two (2) free attaching VTXOA Options for every five (5) shares issued on conversion. If not converted, Loan funds will accrue interest at 10% per annum and fall due for repayment on maturity 12 months after receipt.

Shareholder Meetings

The Company expects shortly to despatch a notice of meeting for a General Meeting to be held on or around 8 November 2024 to seek ratification of recent share issues as well as approval for the second tranche of shares under the Company's placement announced on 21 August 2024 and associated issues of options.

Separately, the Company expects to hold its 2024 Annual General Meeting on 29 November 2024, at which it is intended that business will include the seeking of shareholder approval to approve the conversion of the Loan as well as associated option issues.

CPS Capital Group (CPS) acted as lead manager to the Capital Raising.

- CPS and/or its Nominees will receive a management fee of 2% of the total gross proceeds of the Placement and Loan financing for managing the Capital Raising.

- CPS will receive a placing fee of 4%, plus GST. By negotiation CPS may be liable to pay a placing fee to parties, of up to 4%, plus GST for funds raised in the Capital Raising.

- Subject to Shareholder Approval, CPS and/or its Nominees will receive 1,500,000 VTXOA Options to be issued at $0.00001 per option.

- CPS will receive a one-off completion fee of $20,000 plus GST upon completion of the Placement.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/784UZHT1



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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Vertex Minerals Limited  Acquires Drill Rig to Advance Exploration, at the High-Grade Reward Gold Mine, Below the Existing Resource

Vertex Minerals Limited Acquires Drill Rig to Advance Exploration, at the High-Grade Reward Gold Mine, Below the Existing Resource

Sydney, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to report the acquisition of a Boart Longyear LM90 underground drill rig, in line with its stated strategy to advance exploration drill works at the high-grade Reward gold mine.

HIGHLIGHTS

- Vertex has acquired a Boart Longyear LM90 underground drill rig to advance exploration at the Reward gold mine below the existing resource

- The Vertex team are planning diamond drill programs for the following:

o Below the current JORC-2012 Reward Resource (see drill collar locations on Figure 1), with the aim of expanding upon the existing resource

o Fosters Exploration Target, and the South Star prospect area

- Acquisition of the LM90 follows an extensive review of the mineralisation potential below the Reward resource, which has only been drilled up to 50m below the Amalgamated Adit. This area targeted is referred to as the 'Reward mid depths' as it is located just 80m to ~200m below the Amalgamated Adit. Refer to figure 1*

- Upon commissioning of the LM90 drill rig, Vertex have planned eight drill holes to target the high-grade Fosters Exploration target

- The LM90 has several advantages well-suited to Vertex's requirements, including:

o The ability to work on surface and underground

o Safe, Semi-automated, with a rod-handler system which allows for less manual handling

o Allows greater flexibility in drilling over a number of resource and exploration areas

o LM 90 rigs are well-established in the industry as safe and reliable underground drill rigs

- Vertex acquiring its own rig has many advantages

o Per-metre drill costs will be significantly less than hiring an external drill contractor

o More control and accuracy over precision of drilling.

o Works well with Job sharing

o Reduces pressure on Mining crew to have drill cuddy availability

o The LM90 rig will be accounted for as an asset on the Vertex balance sheet

Executive Chairman, Roger Jackson, commented: "The acquisition of the LM90 was completed on attractive commercial terms, and followed an extensive review process by the field operations team to acquire a rig that was fit-for-purpose to advance our broader exploration strategy. This is an important development for Vertex and we're excited to get started with targeted drill works that have the potential to unlock significant value from the project. Our analysis has shown that it is significantly cheaper, safer and more practical to drill the Reward mine from underground, which is exactly what the LM 90 allows us to do. With an extensive framework of priority drill targets already set out, we look forward to advancing exploration and building on what is already an exciting resource at the Reward mine."

LONGYEAR LM90 UNDERGROUND DRILL RIG - KEY FEATURES

The LM90 has several attributes which will provide flexibility for on-site drilling operations, where Vertex will be able to maintain drill sites with the Company's own underground mining crew. The deployment of the LM90 also means Vertex does not have to pay stand-down time or mobilisation fees, and its drillers can be assigned to other jobs.

1. REVERSIBLE FEED CYLINDER

The feed cylinder is reversible which increases up-hole drilling capacity.

2. SEMI-AUTOMATED ROD HANDLING

Semi-automated rod handler (optional) makes handling of rods safer and easier.

3. HIGH TORQUE BREAKOUT

Automated high torque breakout device breaks most rod joints automatically.

4. FAIL SAFE ROD CLAMP

Hydraulic open and spring close rod clamp resultsin failsafe operation.

5. LOAD SENSING HYDRAULICS

Load sensing hydraulics maximize efficiency and reduce heat.

6. PROPORTIONAL CONTROLS

Proportional controls and lock levers provide optimum control of rpm and feed.

7. DIRECT COUPLED FEED FRAME

Direct coupled feed frame resultsin lower maintenance and smoother feed transmission

Combined Mineral Resource Estimate (MRE) for the Reward gold deposit at Hill End stands at 419,000 tonnes at 16.72g/t Au for 225,200oz Au (VTX Announcement 21 June 2023)

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/8DG26OB8



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

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