VANCOUVER, BC, Feb. 8, 2021 /CNW/ - Norden Crown
Metals Corp. ("Norden
Crown" or the "Company") (TSXV:
NOCR) (OTC: NOCRF) is pleased to announce the commencement of a
~3,500 meter diamond drill program at its 100% owned Burfjord
Project ("Burfjord" or the "Project") in northern Norway in collaboration with Boliden Mineral
AB ("Boliden"). The jointly planned diamond drill program at
Burfjord is based on geological, geochemical, and geophysical
anomalies identified during the 2020 Summer exploration programs
and aims to test the copper-gold grades and continuity of new
targets, historical mines, and prospects. Previous drilling
by Norden Crown (see March 20, 2019 News Release) returned compelling
drill results from Burfjord, including an intercept of 32 metres
averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of
4.31% copper and 2.22 g/t gold) at shallow depths below a group
of historic mine workings1. Historical drilling on the
Project returned 7.0 metres averaging 3.6%
copper2.
Patricio Varas, Chairman and CEO
of Norden Crown stated, "The
joint Norden-Boliden team is working closely with newly collected
structural, lithological, geochemical and initial TEM geophysical
data which suggest the large and intense IOCG alteration footprint
at Burfjord with its numerous copper mineralized outcrops and large
EM conductors has excellent potential to be a very large copper
deposit. Norden's partnership with Boliden has significantly
reduced the financial risk inherent in exploring a large land
position. With Boliden funding the project, Norden can
conduct systematic exploration programs that optimize the potential
to identify economic mineral deposits. We believe this
provides value to our shareholders."
1
Intercept reported as seen in drill core. The true width is
estimated at 85-100% of the reported interval. See Norden's March
20, 2019 News Release for discussion of analytical methods, QA/QC
and core handling protocols.
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2Source:
NGU Deposit Factsheet, Deposit Area 1943-010, 1997. Norden's
property reviews have confirmed the geologic setting and occurrence
of mineralization on the Project and considers the historic
exploration data to be relevant as reported in public disclosures
and government reports.
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Norden Crown is planning to
conduct property wide Drone magnetic surveys as well as a ground
based transient electromagnetic (TEM) survey to obtain subsurface
resistivity-conductivity data that can be used to track copper and
gold associated sulphide mineralization at depth.
Norden Crown entered into an
option agreement (the "Agreement") with Boliden on the Burfjord
Project (see June 10, 2020 News
Release). Boliden will fund 100% of the exploration programs until
it earns a 51% interest, by spending US$6
Million over the next four years.
Overview of the Burfjord Project
The Burfjord Copper-Gold Project, located in the Kåfjord Copper
Belt near Alta, Norway is highly
prospective for Iron Oxide Copper Gold (IOCG) and Sediment Hosted
Copper mineral deposits which contribute significantly to copper
production globally. High-grade copper-gold veins at Burfjord
that were historically mined (pre 20th century) at cutoff grades of
3-5% Cu are surrounded by envelopes of stockwork veins or
disseminations of copper mineralization extending tens to hundreds
of metres laterally into the host rocks. Norden and Boliden
believe this mineralization has economic potential and represents
an attractive bulk tonnage exploration drilling target.
Copper bearing veins in the area are dominated by ferroan
carbonate, sodium-rich minerals, and iron-oxide minerals (magnetite
and hematite), but also contain the economically important minerals
chalcopyrite, bornite and chalcocite in addition to cobalt-rich
pyrite as generally coarsegrained (often 0.5 centimetre to
multi-centimetre scale) disseminations in the veins. The Burfjord
Project is comprised of six exploration licenses totaling 5,500
hectares in the Kåfjord Copper Belt near Alta, Norway. During the nineteenth century, copper
mineralization was mined from over 30 historic mines and prospects
developed along the flanks of a prominent 4 x 6-kilometre fold
(anticline) consisting of interbedded sedimentary and volcanic
rocks. Many of the rocks in the anticline are intensely
hydrothermally altered and contain sulphide mineralization.
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 historical 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.
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.
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.