VANCOUVER, BC, Dec. 9, 2020 /CNW/ - 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 g/t silver, 5.13% zinc,
and 1.7% lead1. Subsequent underground mining production
down to 91 meters produced and additional 45,000 tonnes grading 49
g/t silver, 5.77% zinc, 1.84% lead1.
"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
AB1. 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
mineralization1. 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.
1Edberg, 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.