VANCOUVER, BC, June 10,
2024 /CNW/ - First Nordic Metals
Corp. (the "Company" or "First Nordic")
(TSX.V:FNM) (OTCQB:FNMCF) (FRA: HEG0) is pleased to provide results
from its recent belt-scale glacial till geochemical survey
targeting orogenic gold mineral systems at its 100%-owned
Storjuktan project ("Storjuktan" or "the Project") located on the
Gold Line belt, northern Sweden.
Storjuktan encompasses approximately 60 kilometers ("km") of
first-order structural corridor (strike length) of the Gold Line
belt and is located 20 km north of the Company's Barsele project
[1].
Highlights:
- Surface till sampling identifies a large and cohesive 5.0 km
by 1.0 km As-Cu-Mo-Zn pathfinder anomaly coincident with a historic
ionic leach gold anomaly.
- Anomalies oriented in the down-ice direction and are
coincident with favourable geology and a prominent second-order
structural corridor.
- Follow up exploration programs planned in 2024 to continue
to advance targets to drill testing stage.
Taj Singh, First Nordic
President and CEO comments: "These results from
Storjuktan are very exciting, as the Project has both the
geochemical signature and dimensions / scale that align well with
other multimillion ounce deposits on the belt. Storjuktan's
recently identified gold anomaly is currently about 5 km; for
context, the Company's resource-stage Barsele project's current
resource footprint is approximately 3.5 km long. We look
forward to continuing follow-up exploration work on Storjuktan to
advance targets towards drilling. Our goal in the coming months
will be a geophysics program and a systematic top-of-bedrock /
base-of-till ("BoT") drilling program at the Project.
Storjuktan Exploration
Program
4,357 regional B-Horizon (subsoil) samples were collected
covering approximately 2,000 hectares over multiple untested
structural corridors within the central portion of the 25,000 ha
Storjuktan project area. All samples are collected from the glacial
till derived B-Horizon soil layer and screened using handheld XRF
(x-ray fluroscence) for pathfinder elements. Anomalous areas
identified will be tested for gold at an external laboratory.
Surface Till Sample Results at
Nippas Target
Results from the till sampling program have identified a large
gold pathfinder anomaly (Figure 2) at the Nippas target located in
the central portion of the Storjuktan project. Till sample results
coincident with the historic ionic leach gold-in-till anomaly
(Figure 3) are defined by an As-Cu-Zn-Mo
(arsenic-copper-zinc-molybdenum) pathfinder element till anomaly
extending over 5.0 km by 1.0 km. The anomaly is oriented in the
prominent ice flow direction. The polymetallic signature is
consistent with other anomalies in the belt over known gold
deposits. By comparison, the Barsele project's As-Zn glacial till
pathfinder anomaly measures approximately 3.5 km by 0.8 km.
The survey focused on identification of orogenic gold and VMS
(volcanogenic massive sulphide) type mineral systems known to be
present in the Gold Line belt. All surface till samples were
analysed using a portable XRF and follow-up analyses will test the
anomalous samples for gold. The company plans to follow up with BoT
drilling to test the 5.0 km Nippas target with the aim of
delineating drilling targets. In addition, the company plans to fly
detailed magnetic geophysics over the entire 25,000 ha Storjuktan
project to map the geological and structural architecture and
collect an additional 15,000 surface till samples. To date, till
sampling has covered less than 10% of the Storjuktan project
area.
Next Steps
Follow-up exploration programs are being planned in 2024 to
continue to advance the targets to a drill-testing stage, and
include:
- High resolution airborne UAV magnetic survey over entire
project area (5,700 line km)
- Target structural corridors of interest with systematic mapping
and sampling
- Regional B-horizon till sampling over entire greenstone belt
area
- Top-of-Bedrock drilling on anomalous target areas identified
with till sampling
- Develop robust geological and structural framework models to
guide exploration
About the Storjuktan
Project
The Storjuktan project is a large, early-stage project
strategically positioned north of the Barsele project [1]. It
consists of seven contiguous licenses covering 30,000 ha located in
the northern portion of the Gold Line belt. The Storjuktan project
contains over 60 km of the Gold Line structure. All mineralization
discovered to date shows a spatial relationship to this structural
corridor, occurring mainly on second- and third-order splay
structures.
About the Gold Line Belt
Geology
The geology of the Gold Line belt consists of an inverted
volcano-sedimentary sequence intruded by small pre- to
syn-kinematic granitic intrusions within a broad, anastomosing high
strain structural corridor. Lithologies are regionally
metamorphosed to upper greenschist and amphibolite grade facies,
and gold mineralization is associated with intense sericite,
carbonate, biotite, and calc-silicate alteration assemblages and
sulphide minerals pyrite, arsenopyrite, and pyrrhotite. The
regional Gold Line structural corridor runs up the axis of the belt
with many jogs, splays, and zones of structural complexity that are
potential locations for dilation and deposition of gold bearing
fluids. These lithological sequences are deemed to be highly
prospective for orogenic gold deposits.
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. 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 Skelleftea VMS belts. Additionally, in northern Finland
First Nordic holds the entire underexplored Oijärvi Greenstone
Belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
Qualified Person
Benjamin
Gelber, P. Geo., VP Exploration of the Company, is the
Qualified Person as defined in NI 43-101 and takes
responsibility for the technical disclosure contained within this
news release.
References
[1] Technical Report and Mineral Resource
Estimate for the Barsele Property, 2020, InnovExplo
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Forward-Cautionary Note
Regarding Forward-Looking Statements:
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.
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 Barsele undertakes no obligation to update such
statements, except as required by law.
APPENDIX
Figure 1: Gold Line Belt project area with
regional geology, showing locations of 2023/24 exploration
programs.
Figure 2: Map of Nippas Target area within the
Storjuctan project showing regional till sampling geochemical
results
Figure 3: Map of Nippas Target area showing historic
ionic leach gold-in-till results
SOURCE First Nordic Metals Corp.