VANCOUVER, BC, Aug. 23, 2021 /CNW/ - Norden Crown Metals
Corp. ("Norden Crown" or the
"Company") (TSXV: NOCR) (OTC: NOCRF) (Frankfurt: 03E) is pleased to announce the
commencement of an exploration drilling program (~2,500 metres) at
its 100% owned Burfjord Copper Project ("Burfjord" or the
"Project") in northern Norway. Norden Crown, in partnership with Boliden
Mineral AB ("Boliden"), is drill testing a variety of
geological, geochemical, and geophysical target anomalies
identified during the successful 2020 exploration
programs. The objective of the drill program is to continue
testing copper-gold grades and continuity of new targets,
historical mines, and prospects. Previous drilling by
Norden Crown (see March 20, 2019 News Release) at Burfjord returned
compelling results 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 cluster of
historic mine workings1,2. Historical drilling on the
Project (Cedarsgruvan) was reported to have returned 7.0 metres
averaging 3.6% copper3.
Patricio Varas, Chairman and CEO
of Norden Crown stated, "The
joint Norden-Boliden exploration team is excited to continue drill
testing the copper endowed Burfjord Anticline for its potential to
host economic IOCG style mineralization. The Company has
identified numerous high grade zones within the East, West and
Hinge domains of the anticline and we continue to utilize
magnetic and electromagnetic geophysical surveys to enhance
the existing targets and to guide the planned diamond
drilling."
Diamond Drilling
Norden Crown has engaged Arctic
Drilling NOR (Norway) to complete
~2,500 metres of diamond drilling with the objective of
expanding the footprint of mineralization identified in
2019 (see March 20, 2019 News
Release) and to test additional geological, geochemical and
geophysical targets identified in the 2020 field programs.
Arctic Drilling has now mobilized onto the Burfjord property
and drilling has commenced. The summer 2021 diamond drilling
program is designed to follow up on 3 holes (970.5 metres) drilled
in the Peninsula and Gamlegruva target areas in February and March
this year. The winter drill program was terminated due to
logistical complications caused by inclement winter weather
conditions and restrictions imposed by Covid-19 safety
measures.
2021 Exploration Targets
The 2021 exploration drilling program at Burfjord is focused on
a number of copper targets that contain or are surrouned by
historical adits, pits and workings within the extensively
iron-carbonate altered Burfjord Anticline. These targets have
been identified and prioritized using lithological and structrual
mapping, extensive rock and soil sampling and ground based
electromagnetic geophysics (Figure 1). High priority target
areas within the East, Hinge and West zones of the anticline are
described below.
East Limb (Gamlegruva, A-Gruva,
Bergmark, and Magnusgruven)
The "East Limb" targets constitute a ~5
kilometer-long trend of discontinuously outcropping copper
occurrences and historical mine adits characterized by disseminated
copper sulphide mineralization (chalcopyrite and sporadic bornite)
associated with hematite-jasper breccia and/or carbonate veins
hosted by chlorite (locally albite) or potassically altered pillow
basalts and albitized black shales (Figure 1). As part of a
surface exploration program in 2020 an electromagnetic (TEM)
anomaly (130-150 Siemens) was identifed in the southern portion of
the East Limb that is approximately 1,900 metrers in strike with a
near-vertical dip (Figures 1 and 2). This feature occurs near
the mafic volcanic-albitized black shale contact and is the target
horizon for a number of the planned drill holes in the East
Limb.
Hinge Zone (Cedarsgruvan and
Cedarelva)
The Hinge Zone is a structural target that in the hinge of
the Burfjord Anticline and is characterized by intensely albitized
black shales, breccias (e.g. Cedarsgruvan workings) and albitized
dolomite (e.g., Cedarelva workings) in widespread, intense
iron-carbonate alteration. Disseminated copper sulfides and
structurally controlled high-grade copper sulphide bearing veins
are present within this target area (Figure 1).
West Limb (Kisgangen,
A- Kalkspatgangen, and Peninsula)
The geology of West Limb is dominated by a 3,000 meter by 400
meter albite-iron carbonate-magnetite altered clastic sedimentary
unit (L-Unit) that is locally brecciated and contains disseminated
copper sulphides (chalcopyrite) and chalcopyrite bearing
quartz-carbonate veins. Historic adits are present within and
along the flanks of this unit and are the focus exploratory
drilling in this program.
Burfjord Joint Venture Terms
Norden Crown entered into an
option agreement (the "Agreement") with Boliden in respect to
Burfjord (see June 10, 2020 News
Release). In order to earn its 51% interest in the Project, Boliden
must fund 100% of the exploration programs by spending US$6 Million over the next four years.
Overview of the Burfjord Project
The 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. High-grade copper-gold veins at Burfjord that were
historically mined (pre 20th century) at reported 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 Crown 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 coarse grained (often 0.5 centimetre to
multi-centimetre scale) disseminations in the veins.
Burfjord is comprised of six exploration licenses totaling 5,500
hectares in the Kåfjord Copper Belt near Alta in 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
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.
1.
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Intercept reported as
seen in drill core. The true width is estimated at 85-100% of the
reported interval.
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2.
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See Norden Crown's
March 20, 2019 News Release for discussion of analytical methods,
QA/QC and core handling protocols.
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3.
|
Source: NGU Deposit
Factsheet, Deposit Area 1943-010, 1997. Norden Crown'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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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 exploration program (consisting of diamond drilling,
mapping, prospecting, outcrop sampling, airborne magnetic and
ground electromagnetic geophysical surveys) as discussed herein,
the dates the various segments of the exploration program will
commence, the duration of various segments of the exploration
program, and the planned uses of the resulting data. 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, [NTD:
the exploration program is characterized as fully-funded]
the ability of the various contracted entities to complete their
duties within the time expected by the Company, inclement weather
conditions that may impede, delay or stop all or part of the
exploration program, the effects of the Covid 19 epidemic or other
epidemics or pandemics, mechanical breakdowns of equipment used in
the exploration programs, changes in economic conditions or
financial markets; the ability of Norden
Crown to obtain the necessary consents required to explore,
drill and develop the projects and if obtained, to obtain such
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.