VANCOUVER, Dec. 3, 2018 /CNW/ - Boreal Metals Corporation
("Boreal" or the "Company") (TSXV:BMX) is pleased to
announce the completion of seven diamond drill holes totalling 951
metres of exploratory diamond drill program at its Burfjord copper
gold project in Norway. Drilling at Burfjord was completed
ahead of time and under budget. Boreal would like to commend
Arctic Drilling for their great performance on the project and
recognizes the extraordinary service and strong support from
several local businesses and the surrounding communities.
Assay results are expected in the coming weeks.
"The Burfjord project with its high-grade vein and
disseminated copper mineralization is an attractive early stage
exploration opportunity," stated Karl Antonius, President and
CEO. "We look forward to receiving the results of Boreal's
first drill program on the property."
The Burfjord Project is host to numerous high-grade veins with
associated copper-rich envelopes developed across a large area (~ 6
by 4 kilometres) and represent an attractive exploration drilling
target with bulk tonnage mining potential.
Only limited exploration has taken place in the modern era and
only one prospect area has been drill tested to date (1970's).
The best historical drill intercept consists of seven meters
@ 3.6% copper1, and was obtained from the
Cedarsgruve (mine) area in the northern portion of the claim
block.
About Boreal Metals Corporation
Boreal is a mineral exploration company focused on the discovery
of Zinc, Copper, Silver, Gold, Cobalt and Nickel 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. 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 Burfjord project contained in this news release. Mr.
MacNeil is Vice President Exploration for Boreal.
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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1 Source: NGU Deposit Factsheet, Deposit Area 1943-010,
1997. Boreal'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.
SOURCE Boreal Metals