VANCOUVER, BC, May 9, 2022 /CNW/ - Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) (OTC: NOCRF) (Frankfurt: 03E) is pleased to announce completion of a 450 line-km ground magnetic survey at the Fredrikssons Gruvan prospect ("Fredrikssons Gruvan") in the Bergslagen province of Southern Sweden. This is the largest and highest-resolution magnetic survey completed in the history of the area.
Figure 1. Fredrikssons Gruvan Total Magnetic Intensity (TMI) image with surrounding mineral deposits and prospects. (CNW Group/Norden Crown Metals Corp.)
Figure 2. Oblique section looking north-west showing recent drill intercepts (black), historical drill intercepts5,6 (grey) and currently modelled silver-lead-zinc mineralization at Fredrikssons Gruvan. (CNW Group/Norden Crown Metals Corp.)
The magnetic survey follows up on the first three discovery holes at Fredrikssons Gruvan, drilled in the winter of 2021, where all three holes intersected significant mineralized widths ranging from 8.15 to 13.6 metres of precious and base metal (see Table 1), massive and semi-massive sulphide mineralization, within a geological setting unique to mineralization belonging to the Broken Hill Type ("BHT") clan of silver rich zinc-lead ore deposits.
"The preliminary results of this large ground based magnetic survey are exciting and provide new prospective on the potential for additional BHT mineralization" stated Patricio Varas, Executive Chairman. "This high-resolution magnetic survey allows us to track magnetite-rich bands of sedimentary rocks that we know are associated with BHT mineralization which we will refine in the coming weeks and use to guide additional exploration drilling at Fredrikssons Gruvan".
Significant drill intercepts (see News Release dated March 1, 2021) by Norden Crown demonstrate that silver-lead-zinc mineralization is spatially associated with magnetite-rich chemical sedimentary rocks, which are highly magnetic and can be tracked effectively in the surface and subsurface using a ground magnetic geophysical survey (Figure 1). Norden Crown is interpreting the newly collected magnetic data to enhance the surface and subsurface geological understanding of Fredriksson Gruvan and track high priority magnetite-bearing rocks which maybe associated with silver-lead-zinc potential across the property (Figure 1).
About The Fredrikssons Gruvan Mine Fredrikssons Gruvan was discovered in 1976 by LKAB Prospektering AB. Exploration was carried out in 1976 and 1977 including surface trenching, sampling and 9 diamond drill holes which identified precious metal enriched base metal mineralization. In 1977, AB Statsgruvor (ABS) acquired the Fredrikssons Gruvan prospect and conducted open pit test mining in 1978. Test mining was conducted to a depth of 20 metres below surface and produced 21,500 tonnes grading 53 g/t silver, 5.13% zinc and 1.7% lead, and to a depth of 20 metres. 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 and 1.84% lead were produced from workings that extend to a depth of 91 metres (4 underground levels)1. Drilling at Fredrikssons Gruvan The three discovery drill holes (see Figure 1) (totaling 569 metres) completed at Fredrikssons Gruvan were part of an eleven hole, 2,365.6 metre, diamond drill program completed at the Company's 100%-owned Gumsberg Project, located in the Bergslagen Mining Region of southern Sweden. The objective of the drill program was to demonstrate that mineralization continues beneath the historical mine workings, which extend to 91 metres below surface.
The program was also designed to confirm historical silver-zinc-lead grades, thicknesses, and to test the continuity of this mineralization. Holes GUM-20-09 and GUM-20-10 are positioned 30 metres down plunge of the historical underground workings and are spaced 40 metres apart. Hole GUM-20-11 is 30 metres below GUM-20-10 (60 metres below the historical workings) (see Figure 2). Assay results from the program are presented in Table 1.
Table 1. Results from drilling at Fredrikssons Gruvan4.
Magnetic Survey Parameters and Specifications The area of interest for the ground survey was planned with the Fredrikssons mine as a central focus of the survey area. The survey was completed with 25-metre spaced northwest-southeast oriented survey lines, perpendicular to the regional magnetic trend at Gumsberg West. The total survey duration was 7 weeks and was concluded on April 2, 2022. The ground survey utilized GEM Systems GSM-19 (Overhauser) magnetometers both for the base station and for the survey sensor. About Norden Crown Metals Corp. Norden Crown 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 finance. References
Edberg, L., and Flood, B. (1982). SLUTRAPPORT FRAN DIAMANTBORRNINGARNA VID FREDRIKSSONGRUVAN (GYLLINGEN) 1981/1982©. Rapport Grb 262. Sveriges geologiska undersökning (SGU) (Geological Survey of Sweden).
Geijer, P., and Magnusson, H. (1944). De Mellansvenska Järnmalmernas Geologi. Ca 35. Sveriges Geologiska Undersökning (SGU) (Geological Survey of Sweden). p468.
SGU Drillcore Archive Malå. Norbo. Archive 2. Boliden (1965). ObjectID: 9046-9056.
See Norden Crown Metals Corp. News Release dated March 1, 2021.
Flood, B., and Edberg, L. (1983). TIDIGARE ARBETEN INOM GYLLINGEN 102 SAMT AVSLUTANDE BORRNINGAR PÅ FREDRIKSSONGRUVAN 1983. Rapport Bsg 306. Grb 306. Sveriges Geologiska Undersökning (SGU) (Geological Survey of Sweden).
Fredrikson, G. (1978). Zink-Bly-Mineraliseringen vid Gyllingen. Rapport Grb 36. Sveriges Geologiska Undersökning (SGU) (Geological Survey of Sweden). p39.
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 Gumsberg project contained in this news release. Mr. MacNeil is Vice President Exploration for Norden.
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 growth potential of the Gumsberg Project; future diamond drilling at Fredrikssons Gruvan; the continuity and future discovery of BHT style mineralization at Fredrikssons Gruvan; and the future delineation of a magnetite-rich iron formation at Fredrikssons Gruvan. 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, 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.
For further information: For more information on Norden Crown, please visit the Company website at www.nordencrownmetals.com or contact us at +1.604.922.8810 or firstname.lastname@example.org