District Commences 5,000 m Drill Program at Tomtebo Property
District Commences 5,000 m Drill
Program at Tomtebo Property
VANCOUVER, BC, March 15, 2021 /CNW/ - District Metals Corp.
(TSXV: DMX) (FRA: DFPP); ("District" or the "Company") is
pleased to announce that it has commenced drilling at its high grade
polymetallic Tomtebo Property located in the Bergslagen Mining
District in south-central Sweden. This drill program is focused on the
historic Tomtebo Mine where detailed geophysical, geochemical, and
geological work conducted by the Company has identified significant
coincident anomalies, that in combination with historic drill results,
have developed high priority targets.
Garrett Ainsworth, CEO of District, commented: "This is an exciting
time for the Company and our shareholders as we embark on the first
substantial drill program at the Tomtebo Mine in almost half a
century. The potential of the Garpenberg Mine did not get unlocked
until the 1990's, and now we are applying that knowledge and
technology at Tomtebo.
Our geological interpretations from work carried out in late-2020
greatly contributed to firming up our drill targets, and the subsequent
implications from these interpretations are very encouraging. A key to
this successful outcome has been the involvement of Rodney Allen
and Hein Raat, who are both well-known experts in the Bergslagen
Mining District. With a better understanding on the controls of
polymetallic mineralization and the structural framework at the
Tomtebo Mine, we have started our maiden drill program fully armed
with knowledge to optimize every meter drilled."
Drilling will follow up, infill, and step out from significant high grade
polymetallic mineralization encountered in historical drill holes, and to
obtain missing assay data. Borehole electromagnetic surveys (BHEM)
will be conducted on all of the holes completed, which is an important
modern technology used to detect "off-hole" conductive sulphide
mineralization that has never been previously carried out on the
Tomtebo Property. The overall objective of this drill program will be to
further establish the potential presence of a large polymetallic
mineralized system that is presently daylighting at the historic
Tomtebo Mine.
A total of 5,000 m of core drilling in 21 holes is planned at the historic
Tomtebo Mine with a focus on the Oscarsgruvan, Steffenburgs,
Gårdsgruvans, and Gamla Gruvans zones (Figure 1). Geological work
carried out at the Tomtebo Mine in late-2020 identified the rock types
and the hydrothermal alteration patterns that hosts the copper-gold
and silver-zinc-lead mineralization. The interpretation of this work has
formed the basis upon which priority drill targets were selected.
The generalized drill target strategy for each zone at the Tomtebo
Mine comprises:
Oscarsgruvan and Steffenbergs Zones: targeting silver-zinc-
lead sulphide mineralization in skarn-altered limestone beds, and
veins of remobilized massive sulphide within felsic volcanic
rocks. Numerous sections of this stratigraphic horizon have not
been drilled. In addition, targeting will focus on the extensions of
massive sulphides intersected in the historical drill holes that
coincide with conductive and magnetic high anomalies.
Gårdsgruvans and Gamla Gruvan Zones: targeting copper-
gold vein networks and strong disseminations within and
adjacent to zones of strong alteration. This includes the
extension of this alteration zone at depth and to the southwest of
Gårdsgruvans. In addition, Rödbergsgruvan (located south of
Gamla Gruvan) is a priority area to drill test with historical
mineralized drill intercepts and coincident conductive and
magnetic anomalies.
Björngruvan Zone: targeting historical silver-zinc-lead and
copper-gold drill intercepts coincident with conductive and
magnetic anomalies that are located adjacent east of
Oscarsgruvan. This will also provide important information on the
stratigraphy, structure and alteration pattern at the inferred
eastern "limb" of the polymetallic system at the Tomtebo Mine.
A comprehensive technical presentation is now available on the
Company's website that details the key geological interpretations at
the Tomtebo Mine.
Figure 1: Plan View of Mineralized Zones at Tomtebo Mine (CNW
Group/District Metals Corp.)
Technical Information
All scientific and technical information in this news release has been
prepared by, or approved by Garrett Ainsworth, PGeo, President and
CEO of the Company. Mr. Ainsworth is a qualified person for the
purposes of National Instrument 43-101 - Standards of Disclosure for
Mineral Projects.
Mr. Ainsworth has not verified any of the information regarding any of
the properties or projects referred to herein other than the Tomtebo
Property. Mineralization on any other properties referred to herein is
not necessarily indicative of mineralization on the Tomtebo Property.
The data disclosed in this news release related to drilling results is
historical in nature. District has not undertaken any independent
investigation of the sampling nor has it independently analyzed the
results of the historical exploration work in order to verify the results.
District considers these historical drill results relevant as the Company
will use this data as a guide to plan future exploration programs. The
Company's future exploration work will include verification of the data
through drilling.
About District Metals Corp.
District Metals Corp. is led by industry professionals with a track
record of success in the mining industry. The Company's mandate is
to seek out, explore, and develop prospective mineral properties
through a disciplined science-based approach to create shareholder
value and benefit other stakeholders.
The advanced exploration stage Tomtebo Property is located in the
Bergslagen Mining District of south-central Sweden is the Company's
main focus. Tomtebo comprises 5,144 ha, and is situated between the
historic Falun Mine and Boliden's Garpenberg Mine that are located
25 km to the northwest and southeast, respectively. Two historic
polymetallic mines and numerous polymetallic showings are located
on the Tomtebo Property along an approximate 17 km trend that
exhibits similar geology, structure, alteration and VMS/SedEx style
mineralization as other significant mines within the district.
Mineralization that is open at depth and along strike at the historic
mines on the Tomtebo Property has not been followed up on, and
modern systematic exploration has never been conducted on the
Property.
On Behalf of the Board of Directors
"Garrett Ainsworth"
President and Chief Executive Officer
(604) 288-4430
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement Regarding "Forward-Looking" Information.
This news release contains certain statements that may be considered
"forward-looking statements" within the meaning of applicable
securities laws. In some cases, but not necessarily in all cases,
forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would",
"might", "will" or "will be taken", "occur" or "be achieved" and other
similar expressions. In addition, statements in this news release that
not historical facts are forward looking statements including
anticipated results of future exploration and the results of additional
compilation work.
These statements and other forward-looking information are based on
assumptions and estimates that the Company believes are
appropriate and reasonable in the circumstances, including, without
limitation, assumptions about the reliability of historical data and the
accuracy of publicly reported information regarding past and historic
mines in the Bergslagen District the Company's ability to raise
sufficient capital to fund planned exploration activities, maintain
corporate capacity and satisfy the exploration expenditure
requirements required by the definitive purchase agreement between
the Company and the vendor of the Tomtebo property (the "Definitive
Purchase Agreement") by the times specified therein (failing which
the Tomtebo Property will be forfeited without any repayment to the
Company); and stability in financial and capital markets.
There can be no assurance that such statements will prove to be
accurate and actual results, and future events could differ materially
from those anticipated in such statements. Important factors that could
cause actual results to differ materially from the Company's
expectations include; the risk that historic data regarding the Tomtebo
property is unreliable; the risk that information concerning production
and mineralization at current and historic mines within the Bergslagen
District proves to be inaccurate; the risk that the Company will be
unable to raise sufficient capital to finance planned exploration
(including incurring prescribed exploration expenditures required by
the Definitive Purchase Agreement, failing which the Tomtebo
Property will be forfeited without any repayment of the purchase
price); future metal prices, general economic, market or business
conditions, and other exploration or other risks detailed herein and
from time to time in the filings made by the Company with securities
regulators, including those described under the heading "Risks and
Uncertainties" in the Company's MD&A for the financial year ended
June 30, 2020. The Company does not undertake to update or revise
any forward-looking statements, except in accordance with applicable
law. Readers are cautioned not to put undue reliance on these
forward-looking statements.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/district-
commences-5-000-m-drill-program-at-tomtebo-property-
301246884.html
SOURCE District Metals Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/March2021/15/c8050.htm
l
%SEDAR: 00004264E
For further information: Garrett Ainsworth, President and Chief
Executive Officer, (604) 288-4430
CO: District Metals Corp.
CNW 08:00e 15-MAR-21