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Boreal Metals Starts Drilling Historic Zinc/Copper/Silver/Gold Gumsberg License in Sweden - Video Available on Investmentpitch.com
December 04, 2017 10:38 AM EST | Source: InvestmentPitch Media
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2017) - Boreal Metals (TSXV: BMX) (TSXV: BMX.WT) has started drilling at its 100% owned Gumsberg license in Sweden. Boreal Metals, which began trading on the TSX Venture Exchange on November 21st, is focused on the discovery of Zinc, Copper, Silver and Gold deposits in four exceptional, historic mining project areas spanning Sweden and Norway.
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The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS style mineralization occur. The VMS mineralization at Gumsberg was mined from the 13th century through the early 1900s, with over 30 historic mines present on the property, most notably the Östrasilvberg mine which was the largest silver mine in Sweden between 1250 and 1590.
Despite its lengthy production history, relatively little modern exploration has taken place on the project.
Boreal plans to conduct 2,500 meters of diamond drilling across three prospective high grade VMS mineral trends including Östrasilvberg, Vallberget-Loberget and Gumsgruvan. Each of these silver-zinc-lead trends contain historical drilling from the 1930s and 1970s and mining activities that can be traced to medieval times.
According to a Boliden annual report, Garpenberg has a proven resource of 19.7 million tonnes of 99 grams per tonne silver, 0.3 grams per tonne gold, 0.04% copper, 1.6% lead, and 3.8% zinc, and a probable resource of 56.7 million tonnes of 96 grams per tonne silver, 0.3 grams per tonne gold, 0.05% copper, 1.4% lead, and 2.9% zinc.
Approximately 28 to 35 million tonnes of ore were produced from the Falun Mine at grades ranging between 0.5 to 5% zinc, 0.1 to 1.7% lead, 0.7 to 4% copper, 13 to 35 grams per tonne silver, and 0.5 to 4 grams per tonne gold, varying between different mineralization types.
New geologic interpretations, geophysical surveys and reconnaissance drilling by EMX Royalty Corp. have led to the identification of multiple exploration targets, near the historic workings.
Karl Antonius, President and CEO, stated: "Boreal has successfully advanced three high grade mineralized trends within the 18,300-hectare Gumsberg land position to the drill testing phase. We are excited to see the results of the 2017 Drill Program given the high grades intercepted on the property by EMX Royalty Corp. in 2016."
This table shows selected high grade drill intercepts from the Gumsberg Project, which has been reported in various public documents available online and from the Swedish Geological Survey, although Boreal has not performed sufficient work to verify the data.
| Drill Hole | Company Name | Year | From (metres) | To (metres) | Length (metres) | Zinc % | Lead % | Silver (gpt) | Target Zone |
| GB16-1 | Eurasian Minerals | 2016 | 84.5 | 90.2 | 5.7 | 6.5 | 0.1 | 3.2 | Hoppett |
| GB16-2 | Eurasian Minerals | 2016 | 36.9 | 39.7 | 2.8 | 17.9 | 6.9 | 68.9 | Mellangruvan |
| GB16-3 | Eurasian Minerals | 2016 | 57.1 | 61.7 | 4.6 | 7.01 | 0.9 | 13.8 | Hoppett |
| GB-16-5 | Eurasian Minerals | 2016 | 26.1 | 29.1 | 3 | 9.2 | 3.0 | 12.0 | Mellangruvan |
| BH2-M | Boliden | 1972 | 40.8 | 42.26 | 1.46 | 20.7 | 0.2 | Mellangruvan | |
| BH11 | Stora AB/Boliden | 1939/1958 | 78.7 | 88.5 | 9.8 | 22.9 | 0.7 | Mellangruvan | |
| BH12 | Boliden | 1972 | 93 | 96.35 | 3.35 | 7.3 | 0.2 | Mellangruvan | |
| BH14 | Boliden | 1972 | 96.53 | 97.3 | 0.77 | 30.7 | 7.0 | Mellangruvan | |
| BH15 | Boliden | 1972 | 5.4 | 8.0 | 2.6 | 3.5 | - | Mellangruvan | |
| and | Boliden | 1972 | 33.02 | 34.4 | 1.38 | 3.5 | 1.8 | Mellangruvan | |
| BH16 | Boliden | 1972 | 36.9 | 39.57 | 2.67 | 10.3 | 5.3 | Mellangruvan | |
| BH17 | Boliden | 1972 | 93.7 | 94.73 | 1.03 | 34.3 | 22.7 | Mellangruvan | |
| BH1-H | Boliden | 1972 | 42.7 | 44.2 | 1.5 | 24.3 | 15.7 | Hoppet | |
| BH22 | Boliden | 1972 | 52.61 | 54.05 | 1.44 | 17.2 | 0.1 | Hoppet | |
| and | Boliden | 1972 | 57.46 | 61.21 | 3.75 | 17.1 | 1.9 | Hoppet |
The company, led by an experienced management team and technical team, with successful track records in mineral discovery, mining development and financing, aims to discover new economic mineral deposits in known mining districts that have seen little or no modern exploration techniques.
The shares are trading at $0.35 and with 52 million shares outstanding, the company is capitalized at $18.2 million.
For more information, please visit the company's website at www.borealmetals.com, contact Alexandra Woodyer Sherron, at 604-218-5030 or email alexandra@borealmetals.com.
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