Business
District Executes Definitive Agreement to Acquire the Svärdsjö Property in the Bergslagen Mining District of Sweden
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2021) - District Metals Corp. (TSXV: ...
About this update from District Metals Corp.
[{"type":"text","content":"District Executes Definitive Agreement to Acquire the Svärdsjö Property in the Bergslagen Mining District of SwedenVancouver, British Columbia--(Newsfile Corp. - July 22, 2021) - District Metals Corp. (TSXV: DMX) (FSE: DFPP); (\"District\" or the \"Company\") is pleased to announce the Company has executed a definitive purchase agreement dated July 20, 2021 (the \"Purchase Agreement\") with a wholly-owned subsidiary of EMX Royalty Corp. (TSXV: EMX) (\"EMX\") to acquire 100% ownership of the Svärdsjö Property (Figures 1 and 2) in the prolific Bergslagen District of Sweden, which hosts Boliden's Garpenberg Mine and Lundin Mining's Zinkgruvan Mine. Upon closing the acquisition of the Svärdsjö Property the Company's primary focus will remain on aggressively advancing the highly prospective Tomtebo Property.Garrett Ainsworth, CEO of District, commented: \"Since acquiring our flagship Tomtebo Property in June 2020 our belief in the potential to discover a significant high grade polymetallic deposit in the Bergslagen District has only increased. Over the past year we have been reviewing numerous properties to complement the Tomtebo Property as part of our corporate objective to become a dominant exploration and development company in the Bergslagen District. The addition of the Svärdsjö Property is highly accretive to our property portfolio as it is an advanced stage exploration property with several historic mines and occurrences that show high grade polymetallic targets similar to our Tomtebo Property. It is a pleasure to enter into our second property acquisition in the Bergslagen District with our partner EMX.\" Svärdsjö Property HighlightsSvärdsjö is an advanced stage exploration property that covers an area of 1,037 ha and is located approximately 200 km northwest from the capital city of Stockholm in Sweden.Boliden's Garpenberg Mine is located 45 km to the southeast, and the historic Falun Mine is located 15 km to the southwest. Lundin's Zinkgruvan Mine is located 200 km to the southwest.Svärdsjö is located 25 km to the north of the Tomtebo Property, and contains similar host rocks, structure, alteration, and mineralization styles as the Garpenberg Mine, Historic Falun Mine, and the Tomtebo Property.Several historic mines, numerous mineralized prospects and mu...