Vancouver, British Columbia--(Newsfile Corp. - March 1, 2018) - Boreal Metals (TSXV: BMX) has announced high grade drill results from the ongoing 2,500 metre diamond drill program at Gumsberg. Gumsberg is just one of the company's zinc, copper, silver, gold, cobalt and nickel deposits located in historical mining project areas spanning Sweden and Norway.
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The strategically situated Gumsberg project consists of 6 exploration licenses in the Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS style mineralization have been identified. Precious and base metal VMS mineralization at Gumsberg was mined from the 13th century through the early 19th century, with over 30 historic mines present on the property, most notably the Östersilvberg mine which was the largest silver mine in Sweden between 1250 and 1590.
Despite its long-lived production history, relatively little modern exploration has taken place on the project. New geological interpretation, geophysical surveys and reconnaissance drilling by EMX Royalty Corp. and Boreal has led to the identification of multiple exploration targets, near the historic workings which are exposed at surface.
The table below shows selected drill intercepts from the first 5 holes.
Drill results from the first five holes, which totalled 1,147 metres, confirm the presence of high grade silver-zinc-lead mineralization with significant associated copper and gold mineralization. Drill intercepts include various styles of mineralization in massive sulfide horizons, some of which appear to be exhalite-type deposits. Similar styles of mineralization occur throughout the Bergslagen district in southern Sweden, which is host to multiple world-renowned base metal sulphide deposits.
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Karl Antonius, President and CEO, stated: "We are pleased to announce the results of the drill program at Gumsberg which to date have exceeded our expectations, with significant mineralization in the first five holes. Intercepts in excess of one kilogram per tonne silver with over 45% combined lead and zinc at the Östersilvberg target are a testament to the metal endowment and significantly increases our confidence in the economic potential at Gumsberg. Confirming the presence of high grade exhalative style mineralization is central to Boreal's potential to build tonnage at Gumsberg."
The current drilling at Östersilvberg is designed to target the down-plunge extension of mineralization below the historic mine workings, which extend to a depth of 250 meters. The Vallberget-Loberget Trend is an attractive two kilometer-long zone of northeast trending, moderately to steeply southeast dipping precious and base metal-rich VMS style mineralization. The Gumsgruvan is considered highly prospective for copper and gold mineralization and is the least mature trend in the 2017-2018 exploration program.
Boreal Metals, which began trading on the TSX Venture Exchange on November 21st, is trading at $0.33.
For more information, please visit the company's website at www.borealmetals.com contact Alexandra Woodyer Sherron, at 604-922-8810 or email info@borealmetals.com.
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