VANCOUVER, July 4, 2018 /CNW/ - Boreal Metals Corp.
("Boreal" or the "Company") (TSXV:BMX) is pleased to
announce the commencement of field work and exploration programs at
its Tynset polymetallic VMS project in Norway ("Tynset" or the
"Project"). The Tynset project is located in the historic
Røros District, Norway's most
prolific base metal district.
"We are excited to announce the commencement of the Tynset
programs in Norway. The exploration of Tynset's 30 km
trend of VMS style mineralization is an extremely important target
for Boreal's exploration growth strategy," stated
Karl Antonius, President and CEO.
2018 Work Programs
Surface sampling, mapping and geophysical programs have
commenced at Tynset, and will initially focus in the vicinities of
the historic Vingelen, Fådalsgruven and Sivilldalen mines.
Those mines operated at various times from the 1660's at
Fådalsgruven through the early 1920's at Sivilldalen.
Although historical production focused on copper, significant
zinc mineralization is present in all of the mining areas as seen
in outcrop exposures and in mine waste materials. These initial
work programs will consist of surface sampling of soil and glacial
till materials along projections of zones of mineralization in and
around the historic mines.
Surface sampling will be accompanied by high resolution,
ground-based magnetic geophysical surveys and geologic
mapping. Tynset's massive sulfide mineralization has a strong
magnetic response due to high concentrations of pyrrhotite, a
magnetic ferrous sulfide mineral associated with the polymetallic
sulfide mineralization. These zones are readily mappable by
magnetic surveys. Depending on results, Boreal will also
consider electromagnetic surveys as follow ups to the upcoming
field programs.
The goal of the programs is to further refine drill site
selections, in anticipation of future drilling in 2018 or 2019, and
to identify additional zones of copper and zinc mineralization in
the area.
Overview of Tynset
The Tynset VMS project in Røros District of Norway is one of four Scandinavian
polymetallic projects acquired by Boreal in 2017 from EMX Royalty
Corporation (TSX: EMX; NYSE: EMX). For transaction details,
see Boreal News Release dated February 24,
2017 "Boreal Announces Swedish Acquistion".
The Tynset project is comprised of 17 exploration licenses
totaling 17,000 hectares in the Røros Mining District in central
Norway, and hosts a 30 kilometer
trend of VMS style mineral occurrences and historic mines,
including the Vingelen, Fådalsgruven and Sivilldalen mines.
Little exploration work has been conducted within the
licenses of the Tynset project over the past 30 to 40 years.
However, sampling by the Norwegian Geological Survey in the
1990's and EMX has shown evidence for zinc, gold, and silver
enrichments in several of the historic mines and prospects, and the
Company believes that good potential exists for discovery of zinc
and precious-metal enriched VMS deposits.
Additionally, the historic drilling that has been conducted in
the mining areas has been very limited and shallow.
Significant potential exists for additional discoveries at
depth and along strike of the historic mines.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery
of Zinc, Copper, Silver, Gold and Cobalt 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 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, has read
and approved all technical and scientific information related to
the Modum project contained in this news release. Mr. MacNeil
is Vice President Exploration for Boreal Metals Corp.
On behalf of Boreal Metals Corporation
Karl Antonius, President
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. Although Boreal Metals Corp.
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,
Boreal Metals Corp.'s ability to raise sufficient capital to fund
its obligations under its property option agreements, 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 Boreal Metals Corp. 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 Boreal Metals Corp.'s plans and business
objectives for the projects; the general ability of Boreal Metals
Corp. 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 Boreal
Metals Corp.'s management on the date the statements are made.
Except as required by law, Boreal Metals Corp. undertakes no
obligation to update these forward‐looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.
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SOURCE Boreal Metals