VANCOUVER, BC, Jan. 11, 2021 /CNW/ - District Metals
Corp. (TSXV: DMX) (FRA: DFPP); ("District" or the
"Company") is pleased to announce a key appointment that will
strengthen and expand the Company's presence and operational
efficiency in Sweden. Hein
Raat has been appointed as Country Manager of Sweden, which is an important role given the
upcoming 5,000 m drill program at the
Company's high grade polymetallic Tomtebo Property that is
scheduled to commence in Q1 2021.
Mr. Raat is a professional geologist (EurGeol) with extensive
experience exploring for base and precious metal deposits in
Scandinavia and Europe. He was a Geologist for the Boliden
Group in Sweden for eight years
with the last four years being focused on polymetallic projects in
the Bergslagen Mining District. Mr. Raat spent much of his
time in the Bergslagen working on the polymetallic Stollberg
Project, which is located approximately 40 km southwest and along
trend from District's Tomtebo Property. Mr. Raat specializes
in prospect evaluation, target generation, historical data
compilation, exploration permitting and community relations,
geological mapping and sampling, planning and supervision of
drilling campaigns, 3D geological modelling, and GIS & Database
management.
Garrett Ainsworth, CEO of
District, commented: "The appointment of Hein as Country Manager of
Sweden is a significant addition
to the team for District Metals. I've been working with Hein
as a consultant to District since the beginning of this year, and I
am excited that he has agreed to join our team in a more formalized
position. His technical knowledge of polymetallic deposits
and permitting experience in the Bergslagen Mining District is a
great asset to the Company, and the timing could not be better as
we prepare to embark on our maiden drill program focused on the
historic Tomtebo Mine."
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.