District Intersects 9.1 m at 6.1% ZnEq on the Gruvberget Property
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
District Intersects 9.1 m at 6.1% ZnEq on the Gruvberget Property
Vancouver, B.C. September 21, 2022
September 21, 2022 – District Metals Corp. (TSX-V: DMX) (FRA: DFPP) ("District" or the
“Company”) is pleased to report assay results for five drill holes (GRU22-001 to -005) from the
Spring-Summer 2022 drill program at the polymetallic Gruvberget Property located in the
Bergslagen Mining District in south-central Sweden.
A total of 1,144 m in five drill holes was completed at the Gruvberget North zone from mid-
May to early-July 2022. All of the drill holes were 30 to 60 m step outs below historical drill
intercepts where four out of five holes intersected polymetallic sulphide mineralization that
remains open at depth and partially along strike.
Highlights:
• GRU22-002 intersected 9.1 m at 6.1% ZnEq1 (130.0 to 139.1 m).
o Including 3.3 m at 13.0% ZnEq1 (134.0 to 137.3 m).
• GRU22-003 intersected 9.2 m at 5.9% ZnEq1 (127.0 to 136.2 m).
o Including 2.7 m at 9.2% ZnEq1 (133.5 to 136.2 m).
A long section is shown in Figure 1, and drill assay results are shown in Table 1. Drill hole
summaries are reported here.
Garrett Ainsworth, CEO of District, commented: “Our first pass drill program at the Gruvberget
Property has been a great success. Drilling at the Gruvberget North zone has returned significant
polymetallic assays over appreciable widths with continuity that remain open from a shallow
vertical depth of approximately 160 m. The vertical extent of some polymetallic depo sits in the
Bergslagen District can be quite significant such as Boliden’s Garpenberg Mine and Lundin
Mining’s Zinkgruvan Mine where mineral resources extend to depths of 1,600 m, which makes
the window of opportunity at Gruvberget very large. The Gruvberget North zone warrants a much
larger drill program to better assess the size and scale of the mineralized system we have on hand.”
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
Figure 1: Long Section Looking East at Gruvberget North Zone
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
Table 1: Gruvberget North Zone Drill Assay Results
Drill Hole Depths and Interval Assay Results
Hole ID Azimuth Dip
Total
Depth
(m)
From (m) To (m) Interval
(m) Ag (g/t) Zn (%) Pb (%) Au (g/t) Cu (%) ZnEq (%)
GRU22-001 240 -59 290.50 No significant results
GRU22-002 240 -45 202.70 130.00 139.10 9.10 28.3 2.64 0.70 0.44 0.35 6.11
incl. 134.00 137.30 3.30 60.6 6.72 1.73 0.40 0.81 13.00
GRU22-003 268 -50 211.20 127.00 136.20 9.20 31.2 1.90 0.74 0.73 0.19 5.93
incl. 133.50 136.20 2.70 60.3 4.96 1.85 0.18 0.20 9.17
GRU22-004 268 -50 209.90 135.10 137.30 2.20 60.1 3.05 0.75 0.16 0.27 6.40
147.60 148.30 0.70 106.0 4.48 1.77 0.26 0.13 9.83
150.80 154.30 3.50 29.5 1.62 0.91 0.06 0.04 3.45
GRU22-005 291 -60 229.90 142.00 148.40 6.40 14.0 0.87 0.36 0.14 0.14 2.29
incl. 144.90 148.40 3.50 19.7 1.19 0.58 0.16 0.14 3.01
157.10 157.60 0.50 16.9 2.85 1.19 0.04 0.15 4.82
161.10 161.80 0.70 34.7 3.84 1.29 0.11 0.14 6.53
Notes:
• All intervals are core lengths, and true thicknesses are yet to be determined. Mineral resource modeling is required before true thicknesses can be estimated.
• Cut-off grade of 1.2% ZnEq was utilized, which may include up to 2.0 m of internal dilution. Underground mining cut -off at the nearby Garpenberg Mine was
US$29/tonne in 2021.
• Metal prices used in USD for the ZnEq cut-off calculations were based on Ag $15.00/oz, Au $1650/oz, Cu $2.15/lb, Zn $0.85/lb, and Pb $0.75/lb.
• ZnEq = Zn% + (Ag g/t × 0.0257) + (Au g/t x 2.831) + (Cu% × 2.529) + (Pb% × 0.882)
• The use of ZnEq is to calculate cut-off grades for exploration purposes, and no adjustments were made for metal recovery.
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
References
1 Metal prices used in USD for the Zn Eq calculation were based on Ag $15.00/oz, Au $1650/oz, Cu $2.15/lb, Zn
$0.85/lb, and Pb $0.75/lb. ZnEq equals = Zn% + (Ag g/t × 0.0257) + (Au g/t x 2.831) + (Cu% × 2.529) + (Pb% ×
0.882). The use of Zn Eq is to calculate cut -off grades for exploration purposes, and no adjustments were made for
metal recovery.
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.
The drill core reported in this news release w as logged and prepared at the District Metals AB
core facility in Säter, Sweden before submittal to ALS Geochemistry in Malå, Sweden where the
drill core is cut, bagged, and prepared for analysis. Sample pulps were sent to ALS Geochemistry
in Ireland (an accredited mineral analysis laboratory) for analysis. Samples were analyzed using
a m ulti-element ultra-trace method combining a four -acid digestion with ICP -MS analytical
package (“ME-MS61”). Over limit sample values were re-assayed for: (1) values of copper >1%;
(2) values of zinc >1%; (3) values of lead >1%; and (4) values of silver >100 g/t using the high-
grade material ICP-AES analytical package (“ME-OG62”). Additional over limit sample values
were re-assayed for: (1) values of zinc >30%; (2) values of lead >20% using the high precision
analysis of b ase metal ores AAS analytical package (“Zn, Pb -AAORE”). Gold, platinum, and
palladium were analyzed using the 30 g lead fire assay with ICP -AES finish analytical package
(“PGM-ICP23”). Certified standards , blanks, and duplicates were inserted into the sample
shipment to ensure integrity of the assay process. Selected samples were chosen for duplicate
assay from the coarse reject and pulps of the original sample. No QA/QC issues were noted with
the results reported.
Some of the data disclosed in this news release is related to historical drilling results. District has
not undertaken any independent investigation of the sampling nor has it independently a nalyzed
the results of the historical exploration work in order to verify the results. District considers these
historical drill results relevant as the Company is using this data as a guide to plan exploration
programs. The Company's current and future ex ploration work include s verification of the
historical data through drilling.
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects
referred to herein other than the Gruvberget Property. M ineralization on any ot her properties
referred to herein is not necessarily indicative of mineralization on the Gruvberget Property.
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.
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
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.
For further information on the Tomtebo Property, please see the technical report entitled “NI 43-
101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden” dated
effective October 15, 2020 and amended and restated on February 26, 2021, which is available
on SEDAR at www.sedar.com.
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 information” with respect to the
Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward- looking
information ca n 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 n ot
anticipate” or “bel ieves”, or variations of such words and phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and any similar expressions. In addition, any
statements that refer to expectations, predictions, indications, projections or other characterizations of future events or
circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts
but instead represent management’s expectations, estimates and projections regarding future events. Forward- looking
statements in this news release relating to the Company include, among other things, statements relating to the Company’s
planned exploration activities, including its drill target strategy and next steps for the Gruvberget Property; and the Company’s
interpretations and expectations about the results on the Gruvberget Property.
These statements and other forward- looking information are based on opinions, assumptions and estimates made by the
Company in light of its experience and perception of historical trends, current conditions and expected future developments, as
well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news
release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly rep orted
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 stability in financial and capital markets
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking information, including but not limited to risks associated with
the following: the reliability of historic data regarding the Tomtebo Property; the Company’s ability to raise sufficient capital to
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
finance planned exploration (including incurring prescribed exploration expenditures required by the Tomtebo Purchase
Agreement, failing which the Tomtebo Property will be forfeited without any repayment of the purchase price); the Company’s
limited operating history; the Company’s negative operating cash flow and dependence on third-party financing; the uncertainty
of additional fun ding; the uncertainties associated with early stage exploration activities including general economic, market
and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potenti al
delays, unexpected events and management’s capacity to execute and implement its future plans; the Company’s ability to
identify any mineral resources and mineral reserves; the substantial expenditures required to establish mineral reserves through
drilling and the estimati on of mineral reserves or mineral resources; the Company’s dependence on one material project, the
Tomtebo Property; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations;
compliance with applicable law s and regulations; competition for future resource acquisitions and skilled industry personnel;
reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including
climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company’s share
price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint
ventures; infrastructure risks; fluctuations in demand for, and prices of gold, silver and copper; fluctuations in foreign currency
exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company’s
information technology systems and cyber -security risks; and risk related to the outbreak of epidemics or pandemics or other
health crises, including the recent outbreak of COVID -19. For additional information regarding these risks, please see the
Company’s Annual Information Form, under the heading “Risk Factors”, which is available at www.sedar.com. These factors and
assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These
factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that
would cause actual actions, events or results to differ materially from those disclosed in the forward- looking statements or
information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The forward- looking information is made as of the date of this news release, and
the Company assumes no obligation to publicly update or revise such forward- looking information, except as required by
applicable securities laws.
All scientific and technical information contained in this news release has been prepared by or reviewed and 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.