VANCOUVER, BC, May 23, 2024
/CNW/ - First Nordic Metals Corp. (the
"Company" or "First Nordic") (TSXV: FNM) (OTC:
FNMCF) is pleased to announce the commencement of the 2024 diamond
drilling program at the Barsele gold project located in
Västerbottens Län, Northern Sweden
("Barsele" or the "Project"). The exploration program is being
operated by joint venture partner Agnico Eagle Mines Limited
("Agnico").
First Nordic President and CEO Taj
Singh states, "It's great to see drilling has
resumed at the Barsele joint venture (45% First Nordic / 55%
Agnico), which we consider a flagship asset in the Company's Gold
Line belt portfolio. In addition to follow-up work to potentially
expand the main resource area, it's exciting to see new targets
being drilled for the first time; this demonstrates the highly
prospective mineral endowment of the belt. Results from the
Company's surrounding 100%-owned Paubäcken and Storjuktan projects'
exploration programs (geochemical survey and base-of-till drilling)
will be finalized shortly and allow us to plan for diamond drilling
on these projects in the coming months."
Q2 2024 Diamond Drilling Program
The spring 2024
drilling program has been initially planned for 2,100 meters ("m')
of diamond drilling, comprised of an estimated 11 holes. The
program is designed to test intrusive hosted orogenic gold and VMS
(volcanogenic massive sulphide) mineral system targets identified
through systematic geochemical surveys and interpretation of
geophysical data. The proposed drill plan will test a shallow
conductor target generated by the Titan-24 geophysical survey
southwest of the Central-Avan zone of the Barsele deposit. Follow
up drilling will also be conducted on the Risberget West (southeast
Skiråsen) structural trend to test continuity and extensions of
previously intersected gold mineralization. Lastly, maiden drill
testing of geochemical, geological, and geophysical targets will
occur in the Sjöliden and Bastuträsk areas. See Figure 1 in the
Appendix of this release for a satellite view plan map of the
planned program.
Q1 Work Program Overview
From January and April 2024, data analysis and field-specific
exploration activities continued at several exploration sites
throughout the property. Work completed included geophysical
surveys, and analysis of previously collected MEFFA (multi-element
fine fraction analysis) samples. The MEFFA sample interpretation
utilizes automated pXRF scanning, together with laser ablation and
ICP-MS, to define precious / base metal anomalous areas. This work
was carried out in preparation for this year's diamond drilling
campaign.
About the Barsele Gold Project
The Barsele Project is
located on the western end of the Proterozoic "Skellefte Trend", a
prolific volcanogenic massive sulphide deposits belt, that
intersects with the "Gold Line" in Northern Sweden. Both polymetallic VMS
deposits and intrusive hosted orogenic gold deposits are present in
this region and on this property. Notable current and past
producing mines in the region include Boliden, Kristineberg,
Bjorkdal, Svartliden and Storliden.
The main gold-bearing system remains open in all directions. The
structurally linked gold mineralized lodes occur mainly within a
granodiorite host and to a lesser extent, volcanic and sedimentary
rocks. Multiple parallel to sub-parallel lodes that vary in width
from 10 m to 100 m, combine for a maximum known thickness
(including low grade-waste islands) of 425
m. The Avan–Central–Skiråsen zones have a strike length
approaching 3.6 kilometres ("km") and that same northwest trending
structural corridor contains localized bodies with gold
mineralization over an additional 4.4 km. The drill tested depth of
the mineralized system approaches 1.0 km and remains open. Gold is
generally associated with arsenopyrite and low base metal content
and also occurs as native metal.
About First Nordic Metals
First Nordic's flagship is
the Barsele gold project, located in Sweden and in a joint venture with senior gold
producer Agnico Eagle Mines Ltd. The Barsele project currently
hosts a combined open pit and underground NI 43-101 Indicated
Resource of 324,000 ounces gold and an Inferred resource of
2,086,000 ounces gold (2020, Technical Report and Mineral Resource
Estimate for the Barsele Property, InnovExplo). Immediately
surrounding the Barsele project, First Nordic is the 100%-owner of
a district-scale license position of close to 100,000 hectares on
both the prolific Gold Line and Skellefte VMS belts. Additionally,
in northern Finland First Nordic holds the entire underexplored
Oijärvi Greenstone Belt.
Qualified Persons:
Art
Freeze, P.Geo. and Benjamin
Gelber, P. Geo., are Qualified Persons as defined in NI
43-101 and take responsibility for the technical disclosure
contained within this news release.
ON BEHALF OF THE BOARD OF DIRECTORS,
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
Neither the 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 Note Regarding Forward-Looking
Statements:
This News Release contains forward-looking statements, including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements and First Nordic undertakes no obligation to update such
statements, except as required by law.
APPENDIX
SOURCE First Nordic Metals Corp.