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Norden Crown Metals Corp. ( " Norden Crown " or the " Company ") (TSXV: NOCR) (OTC: BORMF) ( Frankfurt : 03E) is pleased to announce that it has obtained an exploration permit and an off road driving permit for the Fredriksson Gruva prospect and can now proceed with diamond drilling. Norden Crown has identified a series of drill targets at Fredriksson Gruva where historical data 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 gt silver, 5.13% zinc, and 1.7% lead 1 . Subsequent underground mining production down to 91 meters produced and additional 45,000 tonnes grading 49 gt silver, 5.77% zinc, 1.84% lead 1 .
"Fredriksson Gruva is a very intriguing prospect because historical mining only exploited ore from the top 100 meters, but a few historical holes demonstrate high grade silver-zinc-lead mineralization extends at least 400m below surface" stated Patricio Varas , Norden Crown's . CEO, "3D modelling based on the historical data suggests the mineralization forms an antiform or inclined saddle shape that plunges a significant distance. The fact that there are no drill holes between the outliying intercepts and the mine workings excites the technical team as the mineralization remains open at depth and potentially along strike where continuity may not have been recognized by previous operators. We are pleased to be in a position to drill this wide open prospect and feel we can leverage the critical mass of historical data."
3D Geological Modeling
A detailed 3D geological modeling initiative was recently completed at Fredriksson Gruva utilizing historical drilling and surface data. Geological modeling including lithology, structure and assay data demonstrates that silver-zinc-lead mineralization has an open fold geometry that plunges moderately southeast and extends from surface to approximately 400 meters depth. Mineralization is defined over 120 meters and ranges between 3 and 10 meters in thickness as defined by the historical drilling data. Norden Crown's 3D modeling further supports that Fredriksson Gruva mineralization is open in all directions.
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.
Fredriksson Gruva or "Fredriksson Mine"
Fredriksson Gruva was discovered in 1976 by LKAB Prospektering AB 1 . Exploration was carried out in 1976 and 1977 including surface trenching, sampling and drilling of 9 diamond drill holes, which identified precious metal enriched base metal mineralization 1 . In 1977, AB Statsgruvor (ABS) acquired the Fredrikssongruvan prospect and conducted open pit test mining in 1978. Test mining was conducted to a depth of 20 meters below surface and produced 21,500 tonnes. A total of 11 additional holes were drilled in1979 to test the down plunge extent of mineralization. Between 1980 and 1981 mining activities resumed and an underground tram was installed. A total of 45,000 additional tonnes were produced from workings that extend to a depth of 91meters (4 underground levels) 1 . Also during this period, 4 holes were drilled and a core re-logging progam was completed. In addition, surface trenching and a magnetic geophysical survey was completed. Norden Crown staked the Fredriksson Gruva prospect as part of a larger staking acquisition (Gumsberg nr 9) in March, 2017. This licence is referred to as "Gumsberg West" and forms the western half of the highly prospective Gumsberg Project.
1 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) |
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.
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