VANCOUVER, BC, Jan. 4, 2021 /CNW/ - Norden Crown Metals
Corp. ("Norden
Crown" or the "Company") (TSXV:
NOCR) (OTC: BORMF) (Frankfurt:
03E) is pleased to announce that it has begun diamond drilling at
the past producing Fredriksson Gruva (Fredriksson Mine) which is
located on the Gumsberg Property in the Bergslagan Mineral Provice
of southern Sweden. Silver-lead-zinc sulphide
mineralization at Fredriksson Gruva is associated with ghanite in
garnet-rich metamorphic rocks and is interpreted to belong to the
Broken Hill Type (BHT) mineral deposit clan, named after the Broken
Hill deposit, the largest accumulation of Pb, Zn and Ag on
Earth1.
"Fredriksson Gruva is a very exciting shallow exploration
drilling target" stated Patricio
Varas, Norden Crown's.
CEO, "Broken Hill-Type deposits constitute some of the
world's largest ore deposits and the identification of this style
of mineralization on the Gumsberg Licenses considerably increases
the potential for a drill discovery."
Historical data at Fredriksson Gruva 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%
lead2. 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 Diamond Drilling
Initial diamond drilling at Fredriksson Gruva consists of a
4-hole, ~700m test below the historical workings where a recent 3D
geological modeling initiative including surface and subsurface
lithology, structure and assay data demonstrates that
silver-zinc-lead mineralization extends to approximately 400 meters
depth. Mining at Fredriksson Gruva removed ore from a surface
pit and from underground levels to approximately 120 meters
down-dip (75 vertical meters from surface) and demonstrates that
mineralization ranges between 3 and 10 meters in thickness.
The goal of the initial drilling at Fredriksson Gruva is to confirm
the silver-zinc-lead grades and to test the vertical and lateral
continuity of mineralization.
1Spry, Paul & Teale, Graham
& Steadman, Jeffrey. (2009). Classification of Broken Hill-Type
Pb-Zn-Ag Deposits: A Refinement. AGU Spring Meeting
Abstracts.
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2
Edberg, L., and Flood, B., 1982. Rapport Grb 262 SLUTRAPPORT
FRAN DIAMANTBORRNINGARNA VID FREDRIKSSONGRUVAN (GYLLINGEN)
1981/1982© Sveriges geologiska undersökning (SGU) (Geological
Survey of Sweden
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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.
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.