Norden Crown Resumes Diamond Drilling at the Burfjord Copper-Gold Project, Norway
Norden Crown Resumes Diamond Drilling at
the Burfjord Copper-Gold Project, Norway
VANCOUVER, BC
,
Feb. 8, 2021
/CNW/ -
Norden Crown Metals Corp. (
"
Norden Crown
" or the
"
Company
") (TSXV: NOCR) (OTC: NOCRF) is pleased to announce the commencement of a
~3,500 meter diamond drill program at its 100% owned Burfjord Project ("Burfjord" or the "Project")
in northern
Norway
in collaboration with Boliden Mineral AB ("Boliden"). The jointly planned diamond
drill program at Burfjord is based on geological, geochemical, and geophysical anomalies identified
during the 2020 Summer exploration programs and aims to test the copper-gold grades and
continuity of new targets, historical mines, and prospects. Previous drilling by
Norden Crown
(see
March 20, 2019
News Release) returned compelling drill results from Burfjord, including an intercept
of
32 metres averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of 4.31%
copper and 2.22 g/t gold) at shallow depths
below a group of historic mine workings
1
. Historical
drilling on the Project
returned 7.0 metres averaging 3.6% copper
2
.
Patricio Varas
, Chairman and CEO of
Norden Crown
stated,
"The joint Norden-Boliden team is
working closely with newly collected structural, lithological, geochemical and initial TEM
geophysical data which suggest the large and intense IOCG alteration footprint at Burfjord with its
numerous copper mineralized outcrops and large EM conductors has excellent potential to be a
very large copper deposit. Norden's partnership with Boliden has significantly reduced the financial
risk inherent in exploring a large land position. With Boliden funding the project, Norden can
conduct systematic exploration programs that optimize the potential to identify economic mineral
deposits. We believe this provides value to our shareholders."
1
Intercept reported as seen in drill core. The true width is estimated at 85-100% of the reported interval. See Norden's March 20, 2019 News Release for discussion of analytical
methods, QA/QC and core handling protocols.
2
Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997. Norden's property reviews have confirmed the geologic setting and occurrence of mineralization on the Project
and considers the historic exploration data to be relevant as reported in public disclosures and government reports.
Norden Crown
is planning to conduct property wide Drone magnetic surveys as well as a ground
based transient electromagnetic (TEM) survey to obtain subsurface resistivity-conductivity data that
can be used to track copper and gold associated sulphide mineralization at depth.
Norden Crown
entered into an option agreement (the "Agreement") with Boliden on the Burfjord
Project (see
June 10, 2020
News Release). Boliden will fund 100% of the exploration programs until
it earns a 51% interest, by spending
US$6 Million
over the next four years.
Overview of the Burfjord Project
The Burfjord Copper-Gold Project, located in the Kåfjord Copper Belt near Alta,
Norway
is highly
prospective for Iron Oxide Copper Gold (IOCG) and Sediment Hosted Copper mineral deposits
which contribute significantly to copper production globally. High-grade copper-gold veins at Burfjord
that were historically mined (pre 20th century) at cutoff grades of 3-5% Cu are surrounded by
envelopes of stockwork veins or disseminations of copper mineralization extending tens to hundreds
of metres laterally into the host rocks. Norden and Boliden believe this mineralization has economic
potential and represents an attractive bulk tonnage exploration drilling target. Copper bearing veins
in the area are dominated by ferroan carbonate, sodium-rich minerals, and iron-oxide minerals
(magnetite and hematite), but also contain the economically important minerals chalcopyrite, bornite
and chalcocite in addition to cobalt-rich pyrite as generally coarsegrained (often 0.5 centimetre to
multi-centimetre scale) disseminations in the veins. The Burfjord Project is comprised of six
exploration licenses totaling 5,500 hectares in the Kåfjord Copper Belt near Alta,
Norway
. During the
nineteenth century, copper mineralization was mined from over 30 historic mines and prospects
developed along the flanks of a prominent 4 x 6-kilometre fold (anticline) consisting of interbedded
sedimentary and volcanic rocks. Many of the rocks in the anticline are intensely hydrothermally
altered and contain sulphide mineralization.
About
Norden Crown
Metals Corp
.
Norden Crown
is a mineral exploration company focused on the discovery of silver, zinc, copper, and
gold deposits in exceptional, historical mining project areas spanning
Sweden
and Norway. The
Company aims to discover new economic mineral deposits in historical mining districts that have
seen little or no modern exploration techniques. The Company is led by an experienced
management team and an accomplished technical team, 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
Standards of
Disclosure for Mineral Projects
, has read and approved all technical and scientific information
contained in this news release. Mr. MacNeil is Vice President Exploration for
Norden Crown
.
On behalf of
Norden Crown
Metals Corp.
Patricio Varas
, Chairman and CEO
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. Forward-looking statements may include, without limitation, statements
relating to future outlook and anticipated events, such as the successful completion of the Private
Placement or the anticipated use of proceeds of the Private Placement by the Company. Although
Norden Crown
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,
Norden Crown's
ability to raise sufficient capital 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
Norden Crown
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
Norden Crown
plans and
business objectives for the projects; the general ability of
Norden Crown
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
Norden Crown
management on the date the
statements are made. Except as required by law,
Norden Crown
undertakes no obligation to update
these forward–looking statements in the event that management's beliefs, estimates or opinions, or
other factors, should change.
SOURCE
Norden Crown Metals Corp.
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For further information:
on Norden Crown please visit the Company website at
www.nordencrownmetals.com or contact us at +1.604.922.8810 or [email protected].
CO: Norden Crown Metals Corp.
CNW 09:15e 08-FEB-21