District Reports on SkyTEM Results at the Former Tomtebo Mine
District Reports on SkyTEM Results at the
Former Tomtebo Mine
VANCOUVER, BC
,
Oct. 15, 2020
/CNW/ -
District Metals Corp.
(TSXV: DMX) (FRA: DFPP)
;
("District" or the "Company")
is pleased to report the results of the final airborne electromagnetic
("EM") and magnetic data at the former Tomtebo Mine area. A detailed SkyTEM312 HP survey
was flown at
100 m
line spacing in
July 2020
across the entire Tomtebo Property, located in the
Bergslagen Mining District in south-central Sweden. Geophysical interpretation of the SkyTEM
survey outside of the former Tomtebo Mine area continues, and will be reported on in the near
future.
SkyTEM Interpretation Highlights – Tomtebo Mine
An approximate
3 km long trend accentuated by numerous isolated magnetic high and
conductive anomalies
that are northeast and southwest from the historic Tomtebo Mine
(Figures 1 and 2).
The geophysical signature of the historic Tomtebo Mine relates to a magnetic high anomaly, and
several weak to strong conductive anomalies.
Magnetic modeling at the Tomtebo Mine generated six magnetic plate targets that have a
combined strike length of
750 m
, thickness of 12 to
168 m
, and vertical extent of 28 to
356 m
.
Conductive modeling at the Tomtebo Mine generated three conductive plate targets that have a
combined strike length of
375 m
, thickness of 14 to
78 m
, and vertical extent of 213 to
600 m
(Figure 3).
SkyTEM's inversion of electromagnetic (EM) data at the Tomtebo Mine shows an impressive
conductive anomaly beneath the
-200 m
exploration drift (Figure 4). However, the confidence in
this inversion is limited due to cultural influences situated to the east of the Tomtebo Mine.
Garrett Ainsworth
, CEO of District, commented: "The SkyTEM survey has successfully identified the
Tomtebo Mine Trend, which is highlighted by magnetic high and conductive anomalies. The
underlying geology within this trend comprises felsic volcanic rocks, which are not naturally magnetic
or conductive. These geophysical anomalies are positive indications of the potential for additional
discoveries across this defined 3 km trend. Also, magnetic and conductive modeling at the historic
Tomtebo Mine identified significant anomalies below the workings that have never been drill tested.
Interpretation of the SkyTEM data outside of the Tomtebo Mine Trend is progressing well, and will
be reported on when available."
The Company retained SkyTEM Surveys ApS based out of
Denmark
to conduct a detailed heliborne
SkyTEM312 HP (transient electromagnetic – high power) and magnetic survey over the Tomtebo
Property in July 2020. The survey covered the entire 5,144 hectare Tomtebo Property with
approximately 600 line-kilometers at a line spacing of
100 m
. The SkyTEM312 HP system is capable
of detecting conductive polymetallic sulphide mineralization at depths of
500 m
or more.
In general, it is anticipated that the SkyTEM312 HP survey will identify potential copper-gold
dominant sulphide mineralization (feeder zones) as a moderate to strong conductor while the
potential silver-zinc-lead dominant sulphide mineralization (distal zones) may show as non-conductive
to weakly conductive due to the zinc sulphide mineralization. However, the silver-zinc-lead
mineralization in the district often has associated magnetic sulphides, which is expected to be
detected as a moderate to strong magnetic high. The conductive and magnetic data acquired from
the SkyTEM312 HP survey continues to be interpreted by Condor Consulting and Geovista AB
where 3D inversions and conductive and magnetic plates are being modeled to identify additional
high priority target areas.
Figure 1: Tomtebo Mine Trend with Reduced to Pole Magnetics (CNW Group/District Metals Corp.)
Figure 2: Tomtebo Mine Trend with AdTau Conductivity (CNW Group/District Metals Corp.)
Figure 3: Oblique Section Looking South-Southwest at Tomtebo Mine with EM Plates (CNW
Group/District Metals Corp.)
Figure 4: Oblique Section Looking Northeast at Tomtebo Mine with EM Inversion from 3D Voxel
Model (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.
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, located in the Bergslagen Mining District of
south-central
Sweden
, is the Company's main focus. The Tomtebo Property comprises 5,144 ha,
and is situated between the historic Falun Mine and Boliden's Garpenberg Mine 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 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
, 2019. 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.
SOURCE
District Metals Corp.
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For further information:
Garrett Ainsworth, President and Chief Executive Officer, (604) 288-4430
CO: District Metals Corp.
CNW 08:00e 15-OCT-20