VANCOUVER, BC, Dec. 16,
2024 /CNW/ - First Nordic Metals
Corp. (the "Company" or "FNM") (TSXV: FNM)
(OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the commencement
of a top-of-bedrock drilling program (also known as base-of-till
drilling ("BoT")) on its 100%-owned Nippas target ("Nippas")
located in the Storjuktan project area ("Storjuktan" or the
"Project") of the Gold Line Belt, northern Sweden.
Taj Singh, FNM CEO
comments: "The Nippas target currently being tested
represents an extensive gold and pathfinder element till anomaly on
the Storjuktan project, located 28 kilometres north of our
resource-stage Barsele project. Nippas is located on a second order
splay structure within the Gold Line structural corridor in a
setting ideal for large orogenic gold deposits. BoT drilling is the
most effective method of targeting potential new discoveries
through glacial till cover and has already proven fruitful at our
Paubäcken project's Aida discovery further south. This BoT program
sets us up well for diamond drilling Nippas in 2025. On the back of
our recent financing, we are now fully funded for aggressive
drilling on multiple multi-kilometric targets on the Gold Line
through 2025."
Nippas Exploration Program
The current Nippas BoT
drilling program is designed to investigate bedrock sources of
a >5 kilometre ("km") by 250 metre ("m") wide historic
Au-As-Cu-Zn (gold-arsenic-copper-zinc) glacial till
anomaly oriented in the prominent ice flow direction. The
program will include up to 120 BoT drill holes and is designed to
systematically test the bedrock along a 4 km zone interpreted to be
the most probable source of the till anomaly based on
interpretation of geophysical data and ice flow direction (see
Figure 1). Analysis of recently acquired UAV magnetic geophysical
data (interpretation ongoing) has identified a second order
structural corridor that is parallel to the gold and pathfinder
anomaly that will be targeted in the drilling campaign. Historic
BoT and diamond drilling campaigns completed near the Nippas target
have not focused on the main anomaly area identified recently by
FNM.
BoT drilling is an efficient exploration technique in glaciated
terrains that provides high-quality geological data and allows
direct analysis of underlying bedrock lithologies which have the
potential to host mineral deposits. This technique reduces costs
significantly compared with conventional reverse circulation or
diamond drilling, has a small environmental footprint, and
increases the success of identifying potential mineral deposits. It
is a critical step in the exploration workflow when exploring under
shallow cover, bridging surface surveys and deeper, more targeted
drilling programs.
About the Nippas Target
The Nippas target is located
in the Storjuktan project area of the Gold Line Belt in northern
Sweden. The geology consists of a
sequence of inverted basin sediments and mafic volcanic rocks
intruded by small syn-kinematic granitic intrusions within a broad,
anastomosing high strain structural corridor. These lithological
sequences are highly prospective for orogenic gold deposits.
About the Gold Line Belt Geology
The geology of the
Gold Line Belt consists of an inverted volcano-sedimentary sequence
intruded by small pre- to syn-kinematic granitic intrusions within
a broad, anastomosing high strain structural corridor. Lithologies
are regionally metamorphosed to upper greenschist and amphibolite
grade facies, and gold mineralization is associated with intense
sericite, carbonate, biotite, and calc-silicate alteration
assemblages and sulphide minerals pyrite, arsenopyrite, and
pyrrhotite. The regional Gold Line structural corridor runs up the
axis of the belt with many jogs, splays, and zones of structural
complexity that are potential locations for dilation and deposition
of gold bearing fluids. These lithological sequences are deemed to
be highly prospective for orogenic gold deposits.
ABOUT FIRST NORDIC METALS
The Company's flagship asset
is the Barsele gold project, located in northern Sweden and in a joint venture with senior gold
producer Agnico Eagle Mines Limited. Immediately surrounding the
Barsele project, FNM is the 100%-owner of a district-scale license
position of close to 100,000 hectares on Gold Line Belt.
Additionally, in northern Finland FNM is the 100%-owner of a
district-scale position covering the entire Oijärvi Greenstone
Belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
CEO and Director
Qualified Person
Benjamin
Gelber, P. Geo., VP Exploration of the Company, is the
Qualified Person as defined in NI 43-101 and takes responsibility
for the technical disclosure contained within this news
release.
Follow First Nordic Metals:
Twitter: @fnmetals | Youtube: @firstnordicmetalscorp |
LinkedIn: @firstnordicmetals
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Forward-Cautionary Note Regarding Forward-Looking
Statements:
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This News Release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements and FNM undertakes no obligation to update such
statements, except as required by law.
SOURCE First Nordic Metals Corp.
