Boreal Intercepts High Grade Silver Zinc Lead at Gumsberg Project IN Sweden
NEWS RELEASE
FEBRUARY 28, 2018
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BOREAL INTERCEPTS HIGH GRADE SILVER ZINC LEAD AT GUMSBERG PROJECT IN SWEDEN
Vancouver, B.C., February 28, 2018. Boreal Metals Corp. (“Boreal” or the “Company”)
(TSXV:BMX) is pleased to announce high grade and other encouraging drill results from the
ongoing 2,500 meter (planned) diamond drill program at Gumsberg. Drill results from the first
five holes (1,146.7 meters) 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.
“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,” stated Karl
Antonius, President and CEO. “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.”
SELECTED DRILL INTERCEPTS: DRILL HOLES BM-17-001 THROUGH BM-17-005
X Apparent widths reported - true widths are estimated between 80-100% of reported intervals.
Y Apparent widths reported - true widths are estimated at 20-50% of reported interval.
Table 1. Significant Drill Intercepts from Boreal’s Gumsberg 2017-18 Diamond Drill Program.
Hole From To Length Ag Zn Pb Cu Au Prospect
ID Meters Meters Meters g/t % % % g/t Name
BM-17-001X 99.30 106.00 6.70 16.39 5.19 1.08 0.30 0.08 Vallberget
Incl. 101.30 104.40 3.10 32.34 10.97 2.25 0.39 0.16
BM-17-002 X 88.10 88.62 0.52 1.63 5.65 0.06 0.19 0.05 Vallberget
BM-17-002 X 92.30 94.20 1.90 51.75 13.55 5.23 0.27 0.34 Vallberget
Incl. 92.63 93.57 0.94 99.60 26.70 10.45 0.13 0.54
BM-17-003 X 101.35 102.55 1.20 25.00 6.73 2.10 0.35 0.12 Vallberget
BM-17-004 X 105.77 106.37 0.60 24.94 4.81 1.96 0.01 0.02 Vallberget
BM-17-005 Y 122.30 133.24 10.94 656.70 16.97 8.52 0.03 0.76
Östersilvberg Incl. 122.30 127.45 5.15 1172.00 30.59 14.87 0.05 1.07
And 128.92 129.76 0.84 1113.00 33.09 17.20 0.04 1.32
And 132.90 133.24 0.34 487.00 0.06 5.44 0.06 4.00
BM-17-005 Y 155.43 165.00 9.57 183.90 5.87 2.33 0.04 0.52
Incl. 155.43 161.00 5.57 288.65 9.04 3.59 0.04 0.87 Östersilvberg
And 163.71 165.00 1.29 113.00 4.44 1.75 0.04 0.09
BM-17-005Y 178.16 179.00 0.84 218.02 11.56 5.77 0.04 0.30 Östersilvberg
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FEBRUARY 28, 2018
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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 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.
Figure 1. Location of Gumsberg Project, Land Position and 2017-2018 Diamond Drill Holes
NEWS RELEASE
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Overview of Gumsberg Target Areas
Östersilvberg
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.
Östersilvberg is an attractive exploration target due to the presence of high grade silver-zinc-lead
sulphides in historical mining dumps. In addition, miners in the 14th and 15th century focused on
silver-rich mineralization, which suggests they may not have exploited the zinc rich parts of the
system. Historical data, as well as, new surface data suggest there are stacked lenses of
mineralization at Östersilvberg. Ongoing exploration drilling will test for these additional zones
of mineralization in addition to testing below the historical workings to see if they are open along
strike and down plunge.
Vallberget-Loberget
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.
Mineralization across these prospects includes high grade bodies of remobilized massive
sulphides, replacement style mineralization, vein style mineralization and important exhalative
sulphide mineralization. Historical mining efforts suggest the mineralization is laterally
continuous and forms pipe-like, moderate to steeply southeast plunging ore shoots. Ongoing
exploration drilling by Boreal is targeting each of these styles and geometries of mineralization.
Gumsgruvan
The Gumsgruvan area contains rocks containing pervasive chlorite -anthophyllite-cordierite-
garnet alteration as well as significant gold and copper mineralization that is consistent with VMS
“feeder zones”, which may have acted as conduit s for the transport of me tal bearing
hydrothermal fluids to the paleosurface. This area is considered highly prospective for copper
and gold mineralization and is the least mature trend in the 2017-2018 exploration program.
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),
NEWS RELEASE
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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 (Zn-AAORE).
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery of Zinc, Copper, Silver, Gold,
Cobalt and Nickel 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 and technical teams, with successful track records in mineral
discovery, mining development and financing.
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 related to the Modum project contained in
this news release. Mr. MacNeil is Vice President Exploration for Boreal Metals Corp.
On behalf of Boreal Metals Corporation
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 Metals Corp. believes the expectations expressed in such forward-looking statements ar e based on reasonable assumptions,
such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or reali ties may differ
materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, Boreal Metals
Corp.’s ability to raise sufficient capital to fund its obligations under its property option agreements, to maintain its min eral 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 Metals Corp. 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 Metals Corp.’s plans and business
NEWS RELEASE
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objectives for the projects; the general ability 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 ot her 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 required by law, Boreal Metal s Corp.
undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other
factors, should change.