VANCOUVER, BC, Dec. 9, 2020 /CNW/ - District Metals
Corp. (TSXV: DMX) (FRA: DFPP); ("District" or the
"Company") is pleased to announce that a ground gravity survey
has commenced on the Tomtebo Property located in the Bergslagen
Mining District in south-central Sweden. This gravity survey is focused on the
Tomtebo Mine Trend (Figure 1) that was delineated by numerous
conductive and magnetic high anomalies identified from the
July 2020 SkyTEM survey.
Garrett Ainsworth, CEO of
District, commented: "We continue to follow our approach of
systematic modern exploration at the Tomtebo Property with the
commencement of a ground gravity survey over the Tomtebo Mine
Trend. This is the first time Tomtebo has ever seen a ground
gravity survey, which is surprising given its proven effectiveness
in identifying significant massive sulphide deposits within other
districts. The large density differential between the surrounding
host felsic volcanic rocks, and targeted massive sulphide
mineralization on Tomtebo offers another important layer of
geophysical data that we will utilize to prioritize drilling within
the Tomtebo Mine Trend."
The ground gravity survey area will cover a 2 km by 3 km portion
of the Tomtebo Mine Trend with 200 m
line spacings and stations 50 m along
the lines, which will total approximately 400 gravity stations.
GeoVista AB in collaboration with GeoPartner Ltd. are utilizing a
two-person geophysical crew for the ground gravity survey. The crew
will be carrying a Scintrex CG-6 gravity reader, and a Trimble R12
RTK GPS device capable of locating the XYZ-location of each survey
station with centimeter accuracy.
Volcanic Massive Sulphide (VMS) or Sedimentary Exhalative
(SedEx) targets are often greatly enhanced by gravity survey data,
which generally follows other geophysical (magnetic, electrical, or
electromagnetic) and geochemical surveys. Gravity data is used to
detect the excess mass of a potential massive sulphide deposit as
well as estimating its potential size and tonnage. Here are some
examples of where gravity surveys have detected significant VMS or
SedEx deposits or extensions:
- Las Cruces VMS Deposit in the Iberian Pyrite Belt, which
is hosted in siliciclastic-felsic rock was discovered by a regional
gravity survey that indicated an extension of the Pyrite Belt
lithologies beneath 120 m of
cover.
- Lagoa Salgada VMS Deposit in the Iberian Pyrite Belt was
discovered through gravity due to the relatively dense ore body
that is hosted in a much less dense volcaniclastic-sedimentary host
rock. This deposit is covered by a 128
m thick cover of Tertiary strata and is associated with a
15 m thick gossan.
- Greens Creek VMS Deposit in Alaska where ground gravity data confirmed the
extension of the mined ore body at depth and provided valuable
information for exploration drilling. The survey area is
characterized by very steep topography, muskeg, and poor
topographic information, which is not the case on the Tomtebo
Property.
- Macmillan Pass SedEx Project in the Yukon recently utilized ground gravity that
identified gravity high anomalies. Drill testing of these gravity
high anomalies returned wide zones of massive sulphide
(sphalerite-galena-pyrite) mineralization.
- Tambogrande VMS System in northwest Peru utilized ground gravity in 1999 that
produced significant anomalies. Drill testing of these gravity
anomalies resulted in the discovery of the TG3 and B5 Deposits, and
increased mineral resources of the TG1 Deposit.
- Bisha VMS Deposit in Eritrea showed as two gravity high anomalies
in 2003.
- Emba Derho Deposit in Eritrea showed as one gravity high anomaly in
2005.
- VMS deposits in the Bathurst Mining Camp have been
targeted with the use of gravity survey data, which has been
especially effective where mineralization is often dominated by
non-conductive zinc sulphides (sphalerite).
Gravity Survey Background
Gravity surveys measure differences in the Earth's gravity field
in milligals (mGal), which is sensitive to variations in rock
density, and can be used to detect excess mass, which may indicate
a potential massive sulphide deposit at depth, and to estimate the
size of the excess mass. The sulphide minerals found in massive
sulphide (VMS or SedEx) deposits have relatively high specific
gravity values in marked contrast to lower specific gravity values
measured in their sedimentary and volcanic host rocks. Massive
sulphide mineral density ranges from 4.0 to 7.5 g/cm3
while the felsic volcanic host rock ranges from 2.6 to 2.8
g/cm3. Gravity high anomalies are typical VMS and SedEx
signatures that center over these types of deposits.
Volcanic Massive Sulphide (VMS) and SedEx deposits can often be
identified by gravity survey data. Metal content zonation within
VMS systems in particular is typical from proximal feeder
copper-gold zones being strongly conductive and weakly to strongly
magnetic with the more distal SedEx silver-zinc-lead zones being
weakly- to non-conductive and weakly to strongly magnetic, which
can be greatly complemented by gravity data. Exploration
drilling should be prioritized in areas that exhibit at least two
coincident anomalies of conductivity, magnetics, or gravimetry.
Technical Information
All scientific and technical information in this news release
has been prepared by, or approved by Garrett Ainsworth, PGeo,
President and CEO of the Company. Mr. Ainsworth is a qualified
person for the purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
Mr. Ainsworth has not verified any of the information regarding
any of the properties or projects referred to herein other than the
Tomtebo Property. Mineralization on any other properties referred
to herein is not necessarily indicative of mineralization on the
Tomtebo Property.
About District Metals Corp.
District Metals Corp. is led by industry professionals with a
track record of success in the mining industry. The Company's
mandate is to seek out, explore, and develop prospective mineral
properties through a disciplined science-based approach to create
shareholder value and benefit other stakeholders.
The advanced exploration stage Tomtebo Property, located in the
Bergslagen Mining District of south-central Sweden, is the Company's main focus. The
Tomtebo Property comprises 5,144 ha, and is situated between the
historic Falun Mine and Boliden's Garpenberg Mine located 25 km to
the northwest and southeast, respectively. Two historic
polymetallic mines and numerous polymetallic showings are located
on the Tomtebo Property along an approximate 17 km trend that
exhibits similar geology, structure, alteration and VMS/SedEx style
mineralization as other significant mines within the district.
Mineralization that is open at depth and along strike at the
historic mines on the Tomtebo Property has not been followed-up and
modern systematic exploration has never been conducted on the
Property.
On Behalf of the Board of Directors
"Garrett Ainsworth"
President and Chief Executive Officer
(604) 288-4430
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding "Forward-Looking"
Information.
This news release contains certain statements that may be
considered "forward-looking statements" within the meaning of
applicable securities laws. In some cases, but not necessarily in
all cases, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "targets",
"expects" or "does not expect", "is expected", "an opportunity
exists", "is positioned", "estimates", "intends", "assumes",
"anticipates" or "does not anticipate" or "believes", or variations
of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might", "will" or "will be
taken", "occur" or "be achieved" and other similar expressions. In
addition, statements in this news release that not historical facts
are forward looking statements including anticipated results of
future exploration and the results of additional compilation
work.
These statements and other forward-looking information are
based on assumptions and estimates that the Company believes are
appropriate and reasonable in the circumstances, including, without
limitation, assumptions about the reliability of historical data
and the accuracy of publicly reported information regarding past
and historic mines in the Bergslagen District the Company's
ability to raise sufficient capital to fund planned exploration
activities, maintain corporate capacity and satisfy the exploration
expenditure requirements required by the definitive purchase
agreement between the Company and the vendor of the Tomtebo
property (the "Definitive Purchase Agreement") by the times
specified therein (failing which the Tomtebo Property will be
forfeited without any repayment to the Company); and stability in
financial and capital markets.
There can be no assurance that such statements will prove to
be accurate and actual results, and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Company's expectations include the risk that historic data
regarding the Tomtebo property is unreliable, the risk that
information concerning production and mineralization at current and
historic mines within the Bergslagen District proves to be
inaccurate; the risk that the Company will be unable to raise
sufficient capital to finance planned exploration (including
incurring prescribed exploration expenditures required by the
Definitive Purchase Agreement, failing which the Tomtebo Property
will be forfeited without any repayment of the purchase price);
future metal prices, general economic, market or business
conditions, and other exploration or other risks detailed herein
and from time to time in the filings made by the Company with
securities regulators, including those described under the heading
"Risks and Uncertainties" in the Company's MD&A for the
financial year ended June 30, 2020.
The Company does not undertake to update or revise any
forward-looking statements, except in accordance with applicable
law. Readers are cautioned not to put undue reliance on these
forward-looking statements.
SOURCE District Metals Corp.