Vancouver, British Columbia-(Newsfile Corp.-October 25, 2021)-District Metals Corp. (TSX code: DMX) (FSE: DFPP); ("Region" or "Company") is pleased to provide An update on the second phase of the drilling program currently underway at its high-grade polymetallic Tomtebo mining area in the Bergslagen mining area in south-central Sweden.
The District started its 5,000-meter second phase plan on October 7, 2021, with two drilling rigs operating at the Tomtebo property (please refer to the press release here). So far, three holes (TOM21-023A/B, -024, -025) have been drilled for 1,030 m. The core samples from the first three holes have been urgently sent to ALS Geochemistry in Marlow, Sweden for analysis preparation, and then sent to ALS Geochemistry in Lavrea, Ireland for analysis. Results are expected in early December.
Encountered high-grade polymetallic mineralization: hole TOM21-025 intersects with 11.0 m of massive sulfide mineralization in the Steffenburgs area, from 211.4 to 222.4 m (Figure 1).
Continuity of mineralization was established: hole TOM21-025 was drilled 118 m down from TOM21-001 (previously reported here), returning to 8.2 m at 20.94% ZnEq1, from 65.3 to 73.5 m (Figure 2).
The drilling step is in progress: TOM21-027 hole is currently being drilled from 80 m intercepted by the 11.0 m massive sulfide of TOM21-025 (Figure 3).
District Chief Executive Garrett Ainsworth commented: “Our second phase of the drilling program is off to a good start. Hole TOM21-025 intersects the strongest and widest massive sulfide mineralization in the Tomtebo mine to date. Hole TOM21-025 shows Strong continuity in our first stage of drilling TOM21-001 and the Steffenburgs area-200 m exploration drift between the massive sulfide mineralization. In order to better understand the direction of this strong massive sulfide lens, We are currently drilling 80 m below TOM21-025. Hole TOM21-024 was drilled south of the massive sulfide lens body in the northwest subsidence, encountering holes TOM21-001 and -025, but still returning to two intervals (5.6 and 4.6) m) is impregnated to semi-mass sulfide mineralization, and follow-up will continue soon. Finally, hole TOM21-023B tested the coincident magnetic and gravity target located 1.0 km northeast of the historic Tomtebo mine. Polymetallic sulfide is not Service was detected, but the geophysical anomaly was explained by the magnetic dike group and the compact diorite/gabbro intrusive unit. A borehole explained the northeast gravity target, so the rig was transferred to the Gårdsgruvans area, and the TOM21- is currently being drilled. 017 Drilling below, the hole returned a number of stacked polymetallic mineralized lenses."
Figure 1: TOM21-025 sulfide mineralization from 214.9 to 219.6 m
To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/7971/100686_2e9f242154b1790d_002full.jpg.
Figure 2: TOM21-001 sulfide mineralization from 69.2 to 73.7 m
To view an enhanced version of Figure 2, please visit: https://orders.newsfilecorp.com/files/7971/100686_2e9f242154b1790d_003full.jpg.
Figure 3: Cross section looking northwest in the Steffenburgs district
To view an enhanced version of Figure 3, please visit: https://orders.newsfilecorp.com/files/7971/100686_2e9f242154b1790d_004full.jpg.
TOM21-023B (Northeast Gravity Target):
Hole TOM21-023B is drilled in the direction of inclination (-45° inclination) to the southeast (145° azimuth). It was designed to test a blind gravity anomaly and coincident magnetic and conduction anomalies, located 1 km northeast of the historic Tomtebo mine. Hole TOM21-023A is missing at a depth of 42.0 m, and TOM21-023B is a restarted hole.
After an overburden of 16.0 m, the hole intersects with weakly altered (silicified, biotite, and albite) felsic volcanic rocks, without sulfides, and sandwiched between 16.0 and 217.0 m of basic dykes. At 217.0 to 244.0 m, a rock wall group with enhanced magnetic response composed of amphibolite, porphyry and diabase rock walls was encountered. The rock wall is located in the interbedded silicified volcanic ash of 217.0 to 244.0 meters, ranging from 244.0 to 275.0 meters. Rice turned back to weakly altered felsic volcanic rock. Below the inclusion is an undifferentiated intrusive unit of 275.0 to 354.0 m, which appears to have a diorite composition and is denser than the surrounding felsic volcanic rocks. From 354.0 to 386.0, there are weakly altered felsic volcanic rocks with meter-scale basic dykes, in which dense mafic intrusions (gabbro?) and intersecting basic dykes last from 386.0 to 399.0 meters. Deep end of the hole. Magnetic anomalies and gravity anomalies are explained by micro-magnetic dykes and tight diorite/gabbro intrusions, respectively.
Hole TOM21-024 is drilled at an inclination direction (-45° inclination angle) to the east-northeast (70° azimuth angle). It is designed to probe 40 m from the massive sulfide encountered in hole TOM21-001, and return 8.2 at 10.3% Zn, 4.5% Pb, 66.2 g/t Ag, 1.7 g/t Au and 0.08% Cu. m (65.3 to 73.5 m).
After an overburden of 18.8 m, the hole intersects with moderately altered felsic volcanic rock, which contains 18.8 to 85.0 m of trace pyrite (1% to 3%). The porphyritic basic dyke was encountered between 85.0 and 92.55 m. Moderate to strongly altered felsic rocks with increased pyrite, pyrrhotite, and magnetite content intersect between 92.55 and 210.4 m and are highlighted as vein/stringer sulfides from 92.55 to 98.2 m , And spread as semi-mass sulfide (pyrrhotite, pyrite, sphalerite, galena) from 109.2 to 113.8 m. Weak to moderately altered felsic rocks and trace amounts of pyrite (0.1%) lasted from 210.4 to 239.2 m at the bottom of the well. The TOM21-024 hole was drilled in the south of the northwest sinking massive sulfide lens encountered in the TOM21-001 and -025 holes, so follow-up drilling is planned in this area.
The hole TOM21-025 is drilled with an inclination (-48° inclination) to the northeast (52° azimuth). Its design purpose is to jump 118 m from the massive sulfide encountered in the TOM21-001 hole, at 10.3% Zn, 4.5% Pb, 66.2 g/t Ag, 1.7 g/t Au and 0.08% Cu. Return 8.2 m (65.3 to 73.5 m).
After an overburden of 15.9 m, the hole intersects with moderately altered felsic volcanic rocks, in which trace amounts of pyrite (1%) range from 15.9 to 136.0 m, with occasional meter-scale basic dykes. As the content of pyrite, pyrrhotite and magnetite increases, the moderately to strongly altered felsic rocks intersect between 136.0 and 211.4 m. Massive sulfides (sphalerite, galena, pyrite, pyrrhotite, chalcopyrite) intersect at 211.4 to 222.4 m. This high-grade and very tight mineralization intercept is located under moderately altered felsic volcanic rocks, with occasional meter-scale basic dykes ranging from 222.4 to 260.0 meters, of which the weakly altered felsic volcanic rocks continue from 260.0 meters It is 350.0 meters deep to the bottom of the well. The TOM21-025 hole represents the strongest and most extensive mineralization that has been intersected in the historic Tomtebo mine to date.
1 The USD metal prices used for ZnEq calculations are based on silver USD 15.00/oz, gold USD 1,650/oz, copper USD 2.15/lb, zinc USD 0.85/lb, and lead USD 0.75/lb. ZnEq is equal to = Zn% (Ag g/t × 0.0257) (Au g/tx 2.831) (Cu% × 2.529) (Pb% × 0.882). The purpose of ZnEq is to calculate the critical grade for exploration purposes, and the metal recovery rate is not adjusted.
All scientific and technical information in this press release was prepared or approved by Garrett Ainsworth of PGeo, the company's president and chief executive officer. Mr. Ainsworth is a qualified person who meets National Instrument 43-101-Mineral Project Disclosure Standard.
The cores reported in this press release were recorded and prepared at the District Metals AB core facility in Säter, Sweden, and then submitted to ALS Geochemistry in Malå, Sweden, where the cores were cut, bagged and prepared for analysis. The sample slurry was sent to ALS Geochemistry (an accredited mineral analysis laboratory) in Ireland for analysis. Analyze samples using multi-element ultra-trace method, combined with tetraacid digestion and ICP-MS analysis package ("ME-MS61"). Re-determine the value of the out-of-limit sample: (1) Copper value>1%; (2) Zinc value>1%; (3) Lead value>1%; (4) Use advanced material ICP-AES analysis package ("ME-OG62 ”) The silver value>100 g/t. Re-determination of the additional over-limit sample values: (1) Zinc value>30%; (2) Using base metal ore high-precision analysis AAS analysis package ("Zn, Pb-AAORE") lead value>20%. Gold, platinum and palladium are analyzed using 30 g lead fire analyzer and ICP-AES finishing analysis package ("PGM-ICP23"). Certified standards, blanks and copies are inserted into the sample transportation to ensure the integrity of the testing process. Select selected samples from the crude residue and pulp of the original sample for repeated analysis. The results of the report did not reveal any quality assurance/quality control issues.
Some of the data disclosed in this press release are related to historical drilling results. The district did not conduct any independent investigation of the sampling, nor did it independently analyze the results of historical exploration work to verify the results. District believes that these historical drilling results are relevant because the company is using the data as a guide for planning exploration plans. The company's current and future exploration work includes verification of historical data through drilling.
Except for the Tomtebo property, Mr. Ainsworth has not verified any information about any of the properties or projects mentioned here. The mineralization of any other assets mentioned here does not necessarily mean the mineralization of Tomtebo's assets.
District Metals Corp. is led by industry professionals with a record of success in the mining industry. The company's mission is to find, explore and develop potential mineral resources through strict scientific methods in order to create shareholder value and benefit other stakeholders.
Tomtebo Property, an advanced exploration stage located in the Bergslagen mining area in south-central Sweden, is the company's main focus. Tomtebo covers an area of 5,144 hectares, located between the historic Falun mine and the Garpenberg mine in Boliden, 25 kilometers northwest and southeast respectively. Two historic polymetallic mines and numerous polymetallic mines are located in the Tomtebo mining area, along a trend of approximately 17 kilometers, showing similar geology, structure, alteration and VMS/SedEx style mineralization to other important mining areas in the area. The long-established mine in the Tomtebo mining area has not been mineralized deep and along the strike, and modern systematic exploration has never been carried out in the mining area.
For more information about Tomtebo’s assets, please refer to the title "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden, effective October 15, 2020 and revised and restated on February 26, 2021. "Technical report. Available on SEDAR at www.sedar.com.
On behalf of the board of directors "Garrett Ainsworth" President and Chief Executive Officer (604) 288-4430
Neither TSX Venture Exchange nor its regulatory service provider (as the term is defined in the policies of TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
Warning statement regarding "forward-looking" information.
This press release contains certain statements, which may be considered "forward-looking information" related to the company under applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified through the use of forward-looking terms, such as "plan", "target", "expected" or "unexpected", "anticipated", "opportunity" "Exist", "positioned", "estimated", "intended", "hypothesis", "anticipated" or "unexpected" or "believe", or variations of such words and phrases or stating certain actions, events or The result "may", "may", "will", "may", "will" or "will be taken", "occur" or "achieve" and any similar expressions. In addition, any statement that mentions expectations, predictions, indications, forecasts or other characteristics of future events or conditions contains forward-looking information. Statements containing forward-looking information are not historical facts, but represent management's expectations, estimates and forecasts of future events. The forward-looking statements related to the company in this press release include, among other things, statements related to the company’s planned exploration activities, including its drilling target strategy and the next steps of Tomtebo’s assets; the company’s interpretation and expectations of Tomtebo’s mineralization; the company believes The numerous high gravity anomalies found in the historic Tomtebo mine provide huge potential for expansion; the company believes that the simulated high gravity anomalies of the historic Tomtebo mine may correspond to polymetallic and/or iron sulfide mineralization or basic units; the company It is believed that the high gravity anomaly located one kilometer northeast of the Tomtebo mine represents a potential grassroots discovery opportunity, and its simulated tonnage is compared with the historical production tonnage of the historic Falun Mine.
These statements and other forward-looking information are based on the company’s experience and views on historical trends, current conditions and expected future developments, as well as the company’s deems appropriate and reasonable under the circumstances on the date of this press release, including but not Limited to assumptions about the reliability of historical data and the accuracy of publicly reported information about the past and historical mines in the Bergslagen area; the company has the ability to raise sufficient funds within the specified time to fund the planned exploration activities, maintain the company’s capabilities and Meet the exploration expenditure requirements stipulated in the final purchase agreement ("Tomtebo Purchase Agreement") between the company and the Tomtebo property seller; and the stability of the financial and capital markets.
Forward-looking information must be based on certain opinions, assumptions and estimates. Although the company believes that these opinions, assumptions and estimates are reasonable at the date of making such statements, it is subject to known and unknown risks, uncertainties, assumptions and other The results, activity levels, performance or achievements are materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the reliability of historical data about Tomtebo’s property; the company has raised sufficient funds for The ability to fund planned exploration (including incurring the prescribed exploration expenditures in the Tomtebo purchase agreement, otherwise the Tomtebo property will be confiscated and no purchase price will be paid); the company’s limited operating history; the company’s operating cash flow is negative and it is dependent on a third party Financing; the uncertainty of additional funds; the uncertainty associated with early exploration activities, including general economics, market and commercial conditions, regulatory procedures, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events, and The management's ability to execute and implement its future plans; the company's ability to identify any mineral resources and mineral reserves; the large expenditure required to establish mineral reserves and estimate mineral reserves or mineral resources through drilling; the company's reliance on a major project, Tomtebo Property ; Uncertainty of estimates used to calculate mineralization figures; changes in government regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry talents; dependence on key personnel; titles are important; conflicts of interest; environment Laws, regulations and related risks, including climate change legislation; land reclamation requirements; changes in government policies; fluctuations in company stock prices; shareholders are unlikely to receive dividends from the company; potential future acquisitions and joint ventures; infrastructure risks; gold and silver Fluctuations in the demand and price of copper and copper; fluctuations in foreign currency exchange rates; enforceability of legal procedures and judgments; continuing operations risks; risks related to company information technology systems and cybersecurity risks; and related to epidemics or pandemics or other health Risks associated with crisis outbreaks, including the recent outbreak of COVID-19. For more information on these risks, please refer to the company's annual information sheet, titled "Risk Factors", available at www.sedar.com. These factors and assumptions are not intended to represent a complete list of factors and assumptions that may affect the company. However, these factors and assumptions should be carefully considered. Although the company has tried to identify factors that may cause actual actions, events or results to be materially different from those disclosed in forward-looking statements or information, there may be other factors that may cause actions, events or results to be inconsistent with expectations, estimates or plans. In addition, many of these factors are beyond the control of the company. Therefore, readers should not rely excessively on forward-looking statements or information. The forward-looking information was produced on the date of this press release, and unless required by applicable securities laws, the company assumes no obligation to publicly update or revise such forward-looking information. All scientific and technical information contained in this press release was prepared or reviewed and approved by the company's president and CEO Garrett Ainsworth (PGeo). Mr. Ainsworth is a qualified person who meets National Instrument 43-101-Mineral Project Disclosure Standard.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100686
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