VANCOUVER, BC, July 26, 2021 /CNW/ - Norden Crown Metals Corp.
("Norden Crown"
or the "Company") (TSXV: NOCR) (OTC: NOCRD)
(Frankfurt; 03E) is pleased to
announce the commencement of surface exploration at its 100% owned
Gumsberg Project, located in the precious and base metal rich
Bergslagen Province of southern Sweden (Figure 2). The objective of the
surface exploration is to enhance existing exploration drilling
targets through mapping, sampling, and airborne geophysics at the
Fredriksson Gruva target ("Fredriksson Gruva"), a Broken
Hill Type (BHT) silver-zinc-lead prospect, where recent drilling
delineated up to 13.60 metres of 6.05% zinc, 1.39% lead and 43.20
g/t silver confirming the prospect's potential for expansion. (see
Table 1, Figure 1 and Norden Crown
news release dated March 1,
2021)
"Surface exploration work at Gumsberg will focus on expanding
the current footprint of silver rich based metal mineralization at
Fredriksson Gruva". Stated Patricio Varas, President and CEO of
Norden Crown. "Broken Hill
Type deposits have the potential to yield large tonnages from
comparatively small drill footprints due to the high density of the
mineralization, so we are conducting detailed geological mapping
and tightly spaced airborne magnetic geophysics to delineate
mineralization in advance of additional diamond drilling."
Table 1. Results from drilling at Fredriksson Gruva
Drill
|
Prospect
|
From
|
To
|
Length
|
Zinc
|
Lead
|
Silver
|
Hole
|
Name
|
(metres)
|
(metres)
|
(metres)
|
(%)
|
(%)
|
(g/t)
|
GUM-20-09
|
Fredriksson
Gruva
|
123.70
|
134.05
|
10.35
|
5.24
|
1.84
|
43.86
|
GUM-20-10
|
Fredriksson
Gruva
|
134.90
|
148.50
|
13.60
|
6.05
|
1.39
|
43.20
|
GUM-20-11
|
Fredriksson
Gruva
|
151.85
|
160.00
|
8.15
|
3.83
|
0.503
|
18.13
|
*Insufficient drilling has been completed to definitively
determine true thickness; true thickness is estimated to be between
90-95% for holes GUM-20-09 to GUM-20-11 based on angle to core axis
and 3D interpretation.
2021 Surface Exploration Program
The 2021 Gumsberg surface exploration program will focus
mainly on expanding the footprint of BHT mineralization intercepted
below the Fredriksson Gruva historical mine workings in
March 2021 (see Norden Crown news release dated March 1,
2021). Geological mapping, sampling, and prospecting will be
conducted in the vicinity of Fredriksson Gruva in advance of a high
resolution airborne (UAV) magnetic geophysical
survey which will be used to trace mineralization in the
subsurface. Precious metal enriched based metal
mineralization at Fredriksson Gruva is spatially
associated with a broader horizon of highly magnetic iron and
manganese-rich chemical sedimentary rocks. This thick magnetic
sequence is geologically and geophysically distinctive and can be
modeled in three dimensions using detailed magnetic data. The
surface and subsurface mapping efforts will increase the confidence
in the existing drill targets at Frederickson Gruva and allow the
Company to gain insight into the prospects' size
potential.
Mineralization at Fredriksson Gruva is folded, forming a
moderate to steeply eastward-plunging open anticline. BHT
mineralization at Fredriksson Gruva is associated with extensive
regional-scale magnetite-rich iron formation(s) with corresponding
regional scale magnetic anomalies which Norden Crown also intends to further delineate
in the subsurface using airborne magnetic geophysical
surveys. Regional magnetic geophysical data sourced from the
Geological Survey of Sweden
suggests that the prospective magnetic anomaly (and coincident
magnetite-bearing iron formation) extends over 21 kilometres across
the Gumsberg West Licence (southwest of Fredriksson Gruva) greatly
enhancing the exploration potential for additional BHT discoveries
(see Figure 2).
About Broken Hill Type Deposits
BHT deposits constitute some of the largest and highest-grade
ore deposits in the world1. The namesake deposit, Broken
Hill, is in Western Australia and
represents the largest known accumulation of Ag, Zn, and Pb on
Earth1. BHT deposits constitute a
distinctive type of stratiform, sediment hosted silver-zinc-lead
mineral deposits. They are characterized and distinguished
from other silver-zinc-lead deposits by the chemistry of the
sediment that host them and that they are usually associated
spatially and temporally with volcanism.
Characteristic features of these types of deposits include:
- High grade Ag + Zn + Pb mineralized ores
- Metamorphic grades that range from upper greenschist to
granulite facies
- Paleoproterozoic oxidized clastic metasedimentary host rocks in
the absence of metamorphosed carbonates/calcsilicate horizons
- Spatially associated with bimodal (felsic and mafic) intrusive
and volcanic rocks, and stratabound gahnite- and garnet-bearing
rocks and iron formations
- Stacked orebodies with characteristic Ag:Zn:Pb ratios and
skarn-like (generally pyroxenoid dominated) Fe-Mn-Ca-F gangue
assemblages
- Sulfur-poor assemblages
A spatial relationship with continental rifts and an
association with magnetite iron formations is considered important
to the genesis of BHT deposits and can be used to vector toward
additional BHT mineralization along the +21 kilometre belt of
prospective host rocks (see Figure 2). In addition, the
association of manganiferous garnets (spessartine) and anomalous
base metals in these deposit types will be used to help to evaluate
the numerous prospective iron formations in the belt for their
potential to host BHT deposits.
References
1 Spry,
P.G., and Teal, G.S., 2021. A classification of Broken
Hill-type deposits: A critical review, Ore Geology Reviews, Volume
130, March 2021, 103935
|
References to other Mines and Deposits
References to other mines and deposits made in this news release
provide context for the Fredriksson Gruva and Gumsberg Project,
which occurs in a similar geologic setting, but this is not
necessarily indicative that the projects host similar grades and
tonnages of 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 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.
Qualified Person
Patricio Varas, 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.
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 by the Company. surface exploration program on the Gumsberg
Project or that such exploration program will result in an
expansion of the current footprint of the mineralization 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 conduct its
exploration program on the Gumsberg Project as currently
contemplated, 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.