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District Receives Approval of Tåsjö Mineral License Applications in North-Central Sweden
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2023) - District Metals Corp. (TSXV: DMX)...
About this update from District Metals Corp.
[{"type":"text","content":"District Receives Approval of Tåsjö Mineral License Applications in North-Central SwedenVancouver, British Columbia--(Newsfile Corp. - May 30, 2023) - District Metals Corp. (TSXV: DMX) (FSE: DFPP); (\"District\" or the \"Company\") is pleased to report that Bergslagen Metals AB (a 100% owned Swedish subsidiary of District) has received approval from the Bergsstaten (Mining Inspectorate) for the Tåsjö nr 101 to 105 mineral license applications to explore for vanadium, nickel, molybdenum, zinc, and rare earth elements (REE) located in the Jämtland and Västerbottens Counties, north-central Sweden (Figure 1). Similarly to District's Viken Property that controls 68% of the uranium-vanadium Viken Deposit, the Tåsjö Property was assembled to target sedimentary rocks that are known to host critical energy metals and minerals.Tåsjö Property Highlights:The Tåsjö nr 101 to 105 mineral licenses cover an area of 15,625 hectares (ha) that are prospective for uranium, REE, phosphate, vanadium, molybdenum, nickel, zinc, and copper.In the Tåsjö area, Cambro-Ordovician sedimentary units overlie the Proterozoic intrusive basement, which is a similar geological setting that hosts the Viken Deposit. The Tåsjö Field was historically estimated to host 75 to 150 million tonnes grading 0.03 to 0.07% U3O8, 0.11 to 0.24% REE, and 3.75 to 7.5% phosphate (P2O5)1. This historical exploration target estimate is based on a 1964 Report by G. Armands, Swedish Atomic Energy Company, and the Company is not treating it as a current mineral resource estimate. The potential quantity and grade is conceptual in nature, as there has not been sufficient exploration to define the target at this time; and it is uncertain that further exploration would result in the definition of a current resource. The magnitude of the exploration target was confirmed in a 2008 NI43-101 technical report by Andrew Browne of Geosynthesis Pty Ltd.Shallow historical drilling in the Tåsjö area returned positive results for uranium, REE, and phosphate in the Ordovician lycophoria schist while the much thicker underlying Cambro-Ordovician Alum Shale (Viken Deposit host unit) was not fully explored2.The Tåsjö area hosts one of the thickest units of Alum Shale in Sweden that can reach up to 400 meter...