Boreal Expands Discovery Zone of High-Grade Zinc, Silver and Lead Mineralization at Gumsberg Project IN Sweden
NEWS RELEASE
MARCH 4, 2019
www.borealmetals.com page y 1
BOREAL EXPANDS DISCOVERY ZONE OF HIGH-GRADE ZINC, SILVER AND LEAD
MINERALIZATION AT GUMSBERG PROJECT IN SWEDEN
Vancouver, B.C., March 4, 2019. Boreal Metals Corp. (“Boreal” or the “Company”) (TSXV:BMX) is pleased
to report assay results for the remaining four holes from the recently completed nine hole 1,620.8 metre
diamond drill program at its 100% owned Gumsberg project located in the prolific Bergslagen Mining
District in southern Sweden (see Figure 1).
“The continued success intersecting multiple high grade precious and base metal massive sulphide
mineralization in the new South Zone is very exciting for the Boreal team, as our initial thesis was always
to prove that around these old relatively untested mine workings new economic discoveries could be
found,” stated Patricio Varas, Executive Chairman. “These intercepts increase our confidence in the upside
exploration potential throughout the + 20 km long belt land position which has not been explored using
modern exploration methods.” Mr. Varas added “textures in massive sulphides intercepted previously
were interpreted as remobilized massive sulphide veins however these new results contain textures that
we interpret to represent primary VMS mineralization. A down hole geophysical survey scheduled for first
quarter of 2019 will help us vector toward what could potentially be new discoveries at Östra Silvberg.”
These results establish continuity in the newly discovered South Zone, where the Company plans to
conduct additional drilling in the spring using funds from the recent private placement (see Boreal News
Release dated February 20, 2019) to continue to expand this new discovery. Assay results for the final
holes of the 2018/2019 program are summarized in the following table:
Hole From To Length Zn Ag Pb Cu Au
ID Meters Meters Meters % g/t % % g/t
GUM-18-06 210.84 223.44 12.60 6.73 18.53 1.99 0.13 0.08
GUM-18-07 103.58 104.75 1.17 2.67 32.00 1.27 0.02 0.44
GUM-18-08 190.75 196.40 5.65 8.75 289.32 4.67 0.04 1.08
GUM-18-09 105.02 105.94 0.92 3.98 32.80 0.94 0.15 0.23
* Lengths reported as seen in drill core - true widths are estimated to be 50% of reported intervals.
Table 1. Drill Intercepts for holes GUM18-004 through GUM18-009 from Boreal’s Gumsberg 2018-19 Diamond Drill Program
In December 2018 and January 2019, Boreal completed nine diamond drill holes in the vicinity of the past
producing Östra Silvberg Mine (Figure 1). Diamond drilling tested prospective stratigraphy east, west and
down-plunge of the previously reported intercept from BM-17-005, which returned 10.94 metres of
16.97% zinc 656.7 g/t silver, 8.52% lead and 0.76 g/t gold south of the main Östra Silvberg mine workings
(see Boreal News Release dated February 28, 2018).
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Figure 1. Plan Drilling Map showing the distribution of drill intercepts at Östra Silvberg.
Holes GUM-18-006, GUM-18-008 and GUM-18-009 were drilled to test down-plunge and along-strike
continuity of newly recognized remobilized silver-zinc-lead-gold mineralization that occurs 50 metres
south of the historical workings which was intercepted in BM-17-005 in Boreal’s 2017/2018 program and
again in holes BM-18-003 and BM-18-004 (this program). GUM-18-007 tested the down plunge extent of
historically mined mineralization exposed at surface (Figures 1 and 2). Drill holes GUM-18-006 through
GUM-18-009 were successful in expanding the newly discovered zone (Table 1). Drill hole GUM-18-006
cut two zones of pyrite-rich massive sulphide lenses which returned significant lead-zinc mineralization
interpreted to represent the primary sulphide source of the remobilized sulphides. The presence of high
grade remobilized veins and primary volcanogenic massive sulphide mineralization significantly upgrades
the potential at Östra Silvberg.
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Figure 2. Longitudinal section showing distribution of drill intercepts at Östra Silvberg.
Six of the nine holes drilled at the Östra Silvberg cut significant mineralization which constitutes an
expanding zone of newly recognized mineralization that remains open to the east and at depth.
The Gumsberg Project
The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen Mining
District of southern Sweden to taling 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 Östra Silvberg 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 geologic interpretations,
geophysical surveys and reconnaissance drilling have led to the identification of multiple new exploration
targets near the historic workings.
*GUM18-005 did not
reach the target horizon
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Qualified Person
Daniel MacNeil, P.Geo, a Qualified Person as defined by National Instrument 43 -101, has read and
approved all technical and scientific information contained in this news release. Mr. MacNeil is Vice
President Exploration for Boreal Metals Corp.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery of zinc, copper, silver, gold and cobalt
deposits in exceptional, historical mining project areas spanning Sweden and Norway. The Company aims
to discover new economic mineral deposits in known mining districts that have seen little or no modern
exploration techniques. The Company is led by an experienced management team and technical team,
with successful track records in mineral discovery, mining development and financing.
On behalf of Boreal Metals Corp.
Karl Antonius, President
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 Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions,
or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Boreal believes the
expectations expressed in such forward-looking statements are based on reasonable assumptions, 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 material risks and uncertainties include, but
are not limited to, Boreal’s ability to raise sufficient capital to fund its obligations under its property option
agreements, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects,
to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the
ability of Boreal to obtain the necessary permits and consents required to explore, drill and develop the projects and
if obtained, to obtain such permits and consents in a timely fashion relative to Boreal plans and business objectives
for the projects; the general ability of Boreal 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 management on the date
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the statements are made. Except as required by law, Boreal undertakes no obligation to update these forward-
looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.