VANCOUVER, BC, Nov. 9, 2020 /CNW/ - Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) (OTC: BORMF) (Frankfurt: 03E) is pleased to announce the results of data compilation and 3D modeling at Fredriksson Gruva, located on the 100% owned silver-zinc-lead-gold Gumsberg Project located in the Bergslagen Province of Southern Sweden. Norden Crown has identified a series of drill targets at Fredriksson Gruva where historical data demonstrates silver-lead-zinc mineralized zones dipping moderately eastward. 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% lead3. Subsequent underground mining production down to 91 meters produced and additional 45,000 tonnes grading 49 g/t silver, 5.77% zinc, 1.84% lead3.
"The Fredriksson Mine contains silver-zinc mineralization that is reminiscent of Broken Hill-type Pb-Zn-Ag (BHT) deposits named after the Broken Hill Deposit, the largest accumulation of Pb-Zn-Ag on Earth1,2"," stated Patricio Varas, CEO and Chairman of Northern Crown. "The grade from the mined ore is remarkably consistent and historic drilling rarely missed mineralization, which is very encouraging for further resource expansion."
Historical Diamond Drilling
A total of 29 historical holes (3,935.8 meters) have been drilled at Fredriksson Gruva to an average depth of 135 meters. Drilling has penetrated to 300 meters below surface however most of the holes are concentrated between surface and 100 meters depth (Figures 1 and 2). Historical drilling defines significant silver-zinc-lead mineralization over an area measuring 300 meters (east-west), 200 meters (north-south) and 300 meters vertically (Figures 1 and 2). Historical open pit and underground mining has removed mineralization in the top 91 meters of the deposit (Figure 2). Mineralization at Fredriksson Gruva extends for a minimum of 200 meters below the historical workings and is open in all directions. The Fredriksson Gruva target will be the focus of an upcoming diamond drill program by Norden Crown.
1Comparisons to the Broken Hill Deposit are strictly for purposes of establishing deposit models and are not indicative of mineralization hosted on the Company's property.
2Spry, P.G., Teale, G.S., and Steadman, J.A., 2009, Classification of Broken Hill-type Pb-Zn-Ag deposits: A refinement. Eos Transactions AGU, v. 90 (22), Joint Assembly Supplement, Abstract, V21A-01
3Edberg, L., and Flood, B., 1982. Rapport Grb 262 SLUTRAPPORT FRAN DIAMANTBORRNINGARNA VID FREDRIKSSONGRUVAN (GYLLINGEN) 1981/1982© Sveriges geologiska undersökning (SGU) (Geological Survey of Sweden)
Table 2 - Selected Intercepts from historical diamond drilling at Fredriksson Gruva, Sweden.
True widths of the reported mineralized intervals have not been determined. Metal prices used in USD for metal equivalent calculations were based on $20.00/oz for Ag, $1.05/lb for Zn, $0.82/lb Pb. AgEq equals = Ag + (Zn% × 35.99600522) + (Pb% x 28.11116598). Metal equivalent calculations assume 100% recoveries. These drill results 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.
Figure 1 - Longitudinal section Fredriksson Gruva. Fredriksson Gruva is open in all directions.
Figure 2 - Cross section Fredriksson Gruva. Fredriksson Gruva is open in all directions.
About Fredriksson Gruva (Fredriksson Mine)
Fredriksson Gruva was discovered in 1976 by LKAB Prospektering AB3. Exploration was carried out in 1976 and 1977 including surface trenching, sampling and drilling of 9 diamond drill holes, which identified precious metal enriched base metal mineralization3. In 1977, AB Statsgruvor (ABS) acquired the Fredrikssongruvan prospect and conducted open pit test mining in 1978. Test mining was conducted to a depth of 20 meters below surface and produced 21,500 tonnes grading 53 g/t Silver, 5.13% zinc, and 1.7% lead3. A total of 11 additional holes were drilled in 1979 to test the down plunge extent of mineralization. Between 1980 and 1981 mining activites resumed and an underground tram was installed. A total of 45,000 additional tonnes grading 49 g/t silver, 5.77% zinc, 1.84% lead were produced from workings that extend to a depth of 91 meters (4 underground levels)3. Also during this period, 4 holes were drilled and a core re-logging progam was completed. In addition, surface trenching and a magnetic gephysical survey was completed. Norden Crown staked the the Fredriksson Gruva prospect as part of a larger staking acquisition (Gumsberg nr 9) in March, 2017. This licence is refered to as "Gumsberg West" and forms the western half of the highly prospective Gumsberg Project.
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.
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