First Nordic Advances Exploration Programs at the Storjuktan Project on the Gold Line Belt in Sweden
First Nordic Advances Exploration Programs
at the Storjuktan Project on the Gold Line Belt
in Sweden
VANCOUVER, BC
,
Sept. 9, 2024
/CNW/ -
First Nordic Metals Corp.
(the
"Company"
or
"FNM"
)
(TSXV: FNM) (OTCQB: FNMCF) (Germany: HEG0) is pleased to provide an exploration update on
its 100%-owned Storjuktan project ("Storjuktan" or the "Project") located on the Gold Line belt,
northern
Sweden
, approximately 30 kilometers ("km") north of the Company's flagship Barsele
project. At Storjuktan, the Company's glacial till geochemical survey, which started several weeks
ago, is progressing well and the Company has recently commenced a property-wide geophysical
survey.
Taj Singh
, First Nordic President and CEO comments:
"Storjuktan already has one highly
prospective target advancing towards drilling – the 5.5 km Nippas target – but 90% of the project
area has not had any significant geochemical and geophysical work carried out on it. We believe
there is high potential for the discovery of other exciting targets at Storjuktan.
"The fall will be a busy and exciting period for FNM, with key technical programs being carried out
at multiple high-priority projects on the Gold Line belt (including Paubäcken and Klippen).
With the
adjacent, resource-stage Barsele project as our foundation, our near-term aims are to progress our
advanced targets through drilling and to discover new targets on what we believe will be
Europe's
next major gold camp."
Storjuktan UAV Magnetic Geophysical Survey
FNM has commenced its unmanned aerial vehicle (UAV) magnetic geophysical survey over the entire
25,000 hectares ("ha") of the Storjuktan Project area. Approximately 35% of the survey has been
completed at the time of this news release and the survey is projected to be completed by the end
of September, weather permitting.
Radia Oy
, an industry leader in UAV magnetic surveys, has been
commissioned to conduct the 5,193 line-km survey. The survey will be flown on 50 meter ("m)
spaced lines at an average height of
45 m
. Following completion of the survey, the data will be
systematically interpreted to map the underlying geology and structural architecture of the Storjuktan
project area in detail.
The survey has two objectives: (i) mapping of the structural architecture of the northern portion of
the Gold Line belt for target definition in areas where surficial geochemical anomalies have been
observed, and (ii) identification of new targets within the Storjuktan project area, where no
exploration activities have taken place to date.
Storjuktan Surface Till Geochemistry Survey
The Company has collected approximately
6,500 B
-Horizon glacial till samples, representing
approximately 30% of the total coverage area planned for 2024. Glacial till sampling will continue
through the fall. The survey is designed to cover the remaining 20,000 ha of the 25,000 ha project
area. A high-density sample spacing is used (
15 m
x
75 m
sample spacing) to identify anomalous
areas. All samples are screened using XRF (x-ray fluorescence) analysis for gold pathfinder
elements and samples from anomalous areas will be sent for gold assay at an external laboratory.
Program Update on Other Projects
The Company's work plans for its other 100%-owned projects remain on track; this includes:
Klippen project:
top-of-bedrock / base-of-till (BoT) drilling to start –
October 2024
Storjuktan project (Nippas target):
BoT drilling – Q4 2024
Paubäcken project (Harpsund target):
BoT drilling – Q4 2024
Paubäcken project (Aida target):
BoT and diamond drilling – Q1 2025
About the Storjuktan Project
The Storjuktan project is a large, early-stage project strategically positioned north of the Company's
Barsele project. It consists of seven contiguous licenses covering 30,000 ha located in the northern
portion of the Gold Line belt. The Storjuktan project contains over 60 km of the Gold Line structure.
All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring
mainly on second- and third-order splay structures.
About the Gold Line Belt Geology
The geology of the Gold Line belt consists of an inverted volcano-sedimentary sequence intruded by
small pre- to syn-kinematic granitic intrusions within a broad, anastomosing high strain structural
corridor. Lithologies are regionally metamorphosed to upper greenschist and amphibolite grade
facies, and gold mineralization is associated with intense sericite, carbonate, biotite, and calc-silicate
alteration assemblages and sulphide minerals pyrite, arsenopyrite, and pyrrhotite. The regional Gold
Line structural corridor runs up the axis of the belt with many jogs, splays, and zones of structural
complexity that are potential locations for dilation and deposition of gold bearing fluids. These
lithological sequences are deemed to be highly prospective for orogenic gold deposits.
ABOUT FIRST NORDIC METALS
The Company's flagship asset is the Barsele gold project, located in
Sweden
and in a joint venture
with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project,
FNM is the 100%-owner of a district-scale license position of close to 100,000 hectares on Gold
Line belt. Additionally, in northern Finland FNM is the 100%-owner of a district-scale position
covering the entire Oijärvi greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh
, M.Eng, P.Eng, CPA
President & CEO, Director
Qualified Person
Benjamin Gelber
, P. Geo., Chief Technical Director of the Company, is the Qualified Person as
defined in NI 43-101 and takes responsibility for the technical disclosure contained within this
news release.
Follow First Nordic Metals:
Twitter: @fnmetals | Youtube: @firstnordicmetalscorp | LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals | Instagram: @firstnordicmetals
Forward-Cautionary Note Regarding Forward-Looking Statements:
Neither the 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.
This News Release contains forward-looking statements, including but not limited to comments
regarding the timing and content of upcoming work programs, geological interpretations, etc.
Forward-looking statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from those currently anticipated in such
statements and First Nordic Metals undertakes no obligation to update such statements, except as
required by law.
APPENDIX
Figure 1: Storjuktan surface till sampling and UAV magnetic geophysics survey plan map (as at
September 9, 2024) (CNW Group/First Nordic Metals Corp.)
Figure
1
: Storjuktan surface till sampling and UAV magnetic geophysics survey plan map (as
at
September 9, 2024
)
SOURCE
First Nordic Metals Corp.
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For further information:
For further information contact: Alicia Ford, Business Development
Manager, Phone: 604-687-8566, Email: [email protected]
CO: First Nordic Metals Corp.
CNW 02:00e 09-SEP-24