Boreal Continues to Intercept High‐grade at Östra Silvberg South Zone Discovery
NEWS RELEASE
July 9, 2019
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BOREAL CONTINUES TO INTERCEPT HIGH‐GRADE AT ÖSTRA SILVBERG SOUTH
ZONE DISCOVERY
Vancouver, B.C., July 9, 2019. Boreal Metals Corp. (“ Boreal” or the “Company”) (TSXV:BMX) is
pleased to announce results from its seven hole, 1,454.8 meter drilling program at the 100%
owned Gumsberg project located in the prolific Bergslagen mining district in Sweden.
“We are delighted to see that the new Östra Silvberg South Disc overy continues to return high‐
grade silver‐zinc‐lead mineralization,” stated Patricio Varas, CEO. “Drilling completed to date on
this zone has returned consistent intercepts from below surface to roughly 250 metres. This new
discovery at Gumsberg has relatively low density of exploratory diamond drilling and remains
open in all directions. We are excited for what further delineation drilling may deliver in the
future.”
Exploration drilling cut significant mineralization at each of t h e t a r g e t a r e a s ( T a b l e 1 ) . T h e
majority of the drilling was conducted at the newly discovered South Zone at Östra Silvberg and
returned up to 5.12% Zn, 2.27% Pb and 93 g/t Ag over 8.04 meters (Table 1; Figures 1‐2). Two of
the four holes drilled at Östra Silvberg also intersected unmapped mine workings, which project
to deeper levels and further east than was indicated by historic mine maps (Table 1; Figures 1‐2).
In addition to Boreal’s drill successes, this also suggests tha t mineralization is more extensive in
the area than previously recognized.
Table 1. Gumsberg drilling results.
Hole From To Length Zinc Silver Lead Gold Prospect
ID (m) (m) (m) (%) (g/t) (%) (g/t) Name
GUM‐19‐01X 304.96 306.95 1.99 2.28 25.52 0.92 0.128 Ostra Silvberg
Incl. 304.96 306.08 1.12 3.38 37.88 1.31 0.171
GUM‐19‐02 X No Significant Intercepts Ostra Silvberg
GUM‐19‐03 X* 262.25 270.29 8.04 5.12 93.05 2.27 0.434 Ostra Silvberg
GUM‐19‐04 Y 77.60 77.80 0.20 2.77 12.75 0.07 0.003 Gumsgruvan
GUM‐18‐05B 2018 hole extended to 242.2 m depth where it hit unmapped historical mine workings Ostra Silvberg
GUM‐19‐05 No Significant Intercepts Gumsgruvan
GUM‐19‐06 Y 177.10 178.10 1.00 1.84 7.70 1.40 0.108 Vallbergbet
GUM‐19‐06 Y 183.10 184.10 1.00 1.04 3.24 0.69 0.091
X Lengths reported as seen in drill core ‐ true widths are estimated to be 50% of reported intervals.
Y Lengths reported as seen in drill core ‐ true widths are estimated to be 90% of reported intervals.
* Hole encountered a previously unmapped stope and was terminated at 233.00 to 234.20.
Boreal plans to continue step‐out drilling at the high grade Ös tra Silvberg South Discovery while
testing high priority drill targets identified in the Vallberget‐Loberget area where high‐grade
bedded, exhalative style zinc min eralization (sphalerite) has b een recognized in mining dumps
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July 9, 2019
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around the old surface workings. This exhalative‐style of zinc mineralization forms large deposits
elsewhere in the prolific Bergslagen mining district (e.g., the Lundin Mining Zinkgruvan deposit),
and has not been previously documented at Gumsberg.
Overview of the Gumsberg Project
The strategically situated Gumsberg project consists of seven d istinct project target areas in the
Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple
zones of VMS and related styles of mineralization have been identified. Precious and base metal
mineralization at Gumsberg was mined from the thirteenth century through the early nineteenth
century, with over 30 historic mines present on the property, m ost notably the Östra Silvberg
mine, which was the largest silver mine in Sweden between 1250 and 1590.
Figure 1. Östra Silvberg plan map drilling results
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Figure 2. Östra Silvberg cross‐section drilling results
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery of zinc, copper, silver, and gold
deposits in exceptional, historical mining project areas spanning Sweden and Norway. The
Company aims to discover new eco nomic mineral deposits in known mining districts that have
seen little or no modern exploration. The Company is led by an experienced management team
and technical team, with successful track records in mineral discovery, mining development and
financing.
Quality Control, Quality Assurance and Core Handling Protocols
Drill core is logged and prepped for sampling before submittal to ALS in Malå, Sweden where it
is cut, bagged and prepped for analysis. Accredited control samples (blanks and accredited
standards) are inserted into the sample intervals regularly. Samples are dried (if necessary),
S
Open
Open
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July 9, 2019
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weighed, crushed (70% < 2mm), and riffle split into two fractions. One is retained (coarse reject)
and the other is pulverized to 85% < 75µm. Pulps are analyzed by ultra‐trace ICP‐MS (ME‐MS41)
and ICP‐AES Au‐Pt‐Pd (PGM‐ICP23). Over detection limit samples are reanalyzed using ore grade
ICP‐AES by aqua regia (ME‐OG46) or by AAS in the case of high‐grade zinc (ZnAAORE).
Qualified Person
Daniel MacNeil, P.Geo, a Qualified Person as defined by Nationa l Instrument 43‐101, has read
and approved all technical and scientific information related to the Gumsberg project contained
in this news release. Mr. MacNeil is Vice President Exploration for Boreal Metals Corp.
On behalf of Boreal Metals Corp.
Patricio Varas, Chief Executive Officer
For more information on Boreal, please visit the Company website at www.borealmetals.com or
contact Alexandra Woodyer Sherron at +1.604.922.8810 or [email protected].
Neither TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility fo r the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward‐Looking Statements
This news release contains certain statements that may be deeme d “forward‐looking statements”. Forward‐looking statements are statements
that are not historical facts and are generally, but not always , identified by the words “expect s”, “plans”, “anticipates”, “b elieves”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
Although Boreal Metals Corp. believes the expectations expresse d in such forward‐looking statements are based on reasonable as sumptions,
such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ
materially from those in the forward‐looking statements. Such m aterial risks and uncertainties include, but are not limited to , Boreal Metals
Corp.’s ability to raise sufficient capital to maintain its min eral tenures and concessions in good standing, to explore and d evelop its projects, to
repay its debt and for general wo rking capital purposes; change s in economic conditions or financial markets; the ability of B oreal Metals Corp.
to obtain the necessary permits a nd consents required to explor e, drill and develop the projects and if obtained, to obtain su ch permits and
consents in a timely fashion relative to Boreal Metals Corp.’s plans and business objectives for the projects; the general abi lity of Boreal Metals
Corp. to drill test its projects and find mineral resources; if any mineral resources are discovered or acquired, the Company’ s ability to monetize
any such mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations.
Forward‐looking statements are based on the reasonable beliefs, estimates and opinions of Boreal Metals Corp.’s management on the date the
statements are made. Except as r equired by law, Boreal Metals C orp. undertakes no obligation to update these forward‐looking s tatements in
the event that management’s beliefs, estimates or opinions, or other factors, should change.