Business
Norden Crown Metals Receives Notice of Boliden's First Option Abandonment of Burfjord Agreement
VANCOUVER, BC, Jan. 5, 2023 /CNW/ - Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) has received a first option abandonment notice from
About this update from Domestic Metals Corp.
[{"type":"text","content":" VANCOUVER, BC, Jan. 5, 2023 /CNW/ - Norden Crown Metals Corp. (\"Norden Crown\" or the \"Company\") (TSXV: NOCR) has received a first option abandonment notice from Boliden AB (\"Boliden\") withdrawing from the Burfjord project option agreement. As per the contract terms, Boliden will leave the project in good standing until the end of the 90 day termination notice period, and will fulfill all contractual obligations as defined by the contract provision. The Burfjord IOCG project hosts numerous high-grade veins and associated copper-mineralized alteration envelopes approximately 6 kilometres by 4 kilometres in extent. The large associated alteration footprint and widespread copper mineralization present in historical workings and intersected in Norden's recently reported reconnaissance drilling suggests there is potential to host a large bulk tonnage copper deposit. Only limited exploration has taken place at Burfjord in the modern era before Norden Crown's recent reconnaissance drill programs. The best historical drill intercept consists of 7 metres @ 3.6% copper1 and was obtained from the Cedarsgruve (mine) area in the northern portion of the claim block. Previous drilling at the Gamlegruve area by Norden Crown returned compelling results including an intercept of 32 metres averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of 4.31% copper and 2.22 g/t gold) at shallow depths below a cluster of historical mine workings2,3. Other attractive targets include the F-Gruve target where an intercepts of 36 metres averaging 0.48 % copper was recently reported3,5. 2023 Focus Diamond drilling in 2022 focused on a newly identified, mineralized zone at the F-gruve target. Three target areas, including the Cedarsgruve and Gamlegruve targets are now being prioritized for follow-up drilling to test for continuity and grade to define mineral resources. Results at the Gamlegruve zone and parallel F-gruve zone in the south-east limb of the Bergmark anticline have returned the most interesting copper mineralized and altered zones this year. Drilling has delineated a consistently copper and gold mineralized zone from surface to shallow depths, along strike f...