First Nordic Identifies New Multi-Kilometric Gold Anomaly and Returns Highest BoT Drilling Grades to Date at Paubäcken Project
First Nordic Identifies New Multi-Kilometric
Gold Anomaly and Returns Highest BoT
Drilling Grades to Date at Paubäcken Project
VANCOUVER, BC
,
June 17, 2024
/CNW/ -
First Nordic Metals Corp.
(the
"Company"
or
"First
Nordic"
) (TSXV: FNM) (OTCQB: FNMCF) (FRA: HEG0) is pleased to report results from its recent
belt-scale glacial till geochemical survey and top-of-bedrock / base-of-till ("BoT") drilling program
targeting orogenic gold mineral systems at its 100%-owned Paubäcken project ("Paubäcken" or "the
Project") located in the Gold Line belt, northern
Sweden
. Paubäcken encompasses approximately 30
kilometers ("km") of first-order structural corridor (strike length) of the Gold Line Belt and is located
30 km south of the Company's resource-stage Barsele project [1]. To date, three multi-kilometric,
distinct structural targets have been identified along / off the property's main corridor (Aida,
Harpsund, and Brokojan).
Highlights:
Discovery of Brokojan target – a large (2.3 km by 1 km) orogenic gold system multi-
element pathfinder till anomaly; together with the adjacent Harpsund target, these two
targets now form a large, semi-continuous southeast-northwest trending anomaly over a
5.5 km strike.
Extension of bedrock anomalism along the Aida structural target by approximately 1 km,
to 1.5 km now tested and confirmed for gold mineralization.
Follow-up exploration programs planned in 2024 to continue to advance targets to drill
testing stage.
Taj Singh
, President and CEO states:
"
The latest results from the district-scale Paubäcken
project are highly encouraging. A brand new multi-kilometric anomaly was discovered which, when
combined with a previously identified Harpsund anomaly, forms a 5.5 km long target area along
the Gold Line belt. To put this in context, the Company's Barsele project resource footprint length is
approximately 3.5 km long. Additionally, on the high-priority Aida target, BoT drilling returned 5.01
g/t gold, the highest value to date, and an additional 1 km of footprint was tested and confirmed as
anomalous for gold mineralization.
We look forward to continuing target delineation BoT drilling
activities across the Paubäcken in 2024 as well as diamond drilling at high-priority areas.
Paubäcken Exploration Program
3,050 regional B-Horizon (below topsoil) till samples were collected covering 1,350 hectares over a
12 km strike length of the northern extent of the first order Gold Line Belt structural corridor, and
1,181 metres ("m") in 71 BoT drill holes were completed along the Aida structural corridor target.
For BoT sampling, two BoT samples from directly above the till bedrock interface and two bedrock
samples within the top of bedrock are collected for all drill holes. All samples are screened with X-
ray fluorescence ("XRF") and analysed using a multi-element suite at MSALABS in Storuman,
Sweden
. For glacial till geochemical sampling, all samples are collected from the glacial till derived
B-Horizon soil layer (subsoil) and screened using handheld XRF for pathfinder elements. Anomalous
areas identified will be tested for gold at an external laboratory.
Surface Till Sample Results
Results from the till sampling program have identified a second large gold pathfinder anomaly
(Figure 2) northwest of the previously identified Harpsund 2.5 km by 1 km Au-As-Cu-Zn-Mo anomaly
(gold-arsenic-copper-zinc-molybdenum) along the same structural corridor. Results from the till
sampling program identified the Brokojan target, defined by a As-Cu-Zn-Mo pathfinder element till
anomaly extending over 2.3 km by 1.0 km. The two targets now form a large, semi-continuous
southeast-northwest trending anomaly over a 5.5 km strike of the Harpsund structural corridor. Both
anomalies are oriented in the prominent ice flow direction. The survey focused on identification of
orogenic gold and VMS (volcanogenic massive sulphide) type mineral systems known to be present
in the Gold Line Belt. All surface till samples were analysed using a portable XRF and follow up
analyses will test the anomalous samples for gold. Both anomalies are coincident with historic ionic
leach gold-in-till anomalies (Figure 3).
Geologic Interpretation of the Brokojan and Harpsund Targets
The geology of the Harpsund target area (Figure 4) consists of a complex sequence of folded and
sheared coarse to fine grained metasedimentary units that have been intruded by a series of felsic
dykes and gabbroic units. The Harpsund structural corridor forms a southwest trending second order
splay structure off the regional north-northwest trending Gold Line belt first order structure. The
Harpsund target lies within the hinge of the second order structural corridor and the Brokojan target
at the intersection of the first and second order structures. All sedimentary units demonstrate a
dominant penetrative fabric and strong schistosity, and folding is isoclinal, indicating a high strain
environment. Gold mineralized quartz veins previously mapped and sampled within the Harpsund
target area are preferentially hosted within felsic dykes due to strong rheological contrast with
surrounding metasediments.
BoT Drilling Results at Aida Target
Results from the BoT drilling program (Figure 5) were positive and extended anomalism along the
Aida structural corridor to >1.5 km, including the highest BoT sample result todate on the Project,
5.01 g/t Au in hole PAU-23-BoT-065. The latest BoT drilling tested portions of the structure to the
north and south of previous BoT and diamond drilling. The Aida structural corridor target lies under
up to
25 m
of glacial till cover and has been identified over 4 km in strike using magnetic geophysical
data. Approximately 2.5 km of the target area remains completely untested, and the Company plans
to continue target delineation BoT drilling activities in 2024.
Results from a sub-parallel structure zone were also positive with multiple bedrock samples
encountered that are anomalous against background. The latest BoT program continues to
demonstrate the size potential of the Aida target and follow up BoT drilling is planned for H2 2024
over the remaining untested 2.5 km strike of the structural corridor to develop targets for follow-up
drill testing. The Aida target lies within 3.5 km of the past producing Svartliden gold mine, owned and
operated by Dragon Mining Ltd ("Dragon"). The Svartliden mill and processing plant is still
operational, and processes concentrate ore from Dragon's operations in
Finland
.
Geologic Interpretation of the Aida Target
The geology of the Aida target consists of a sequence of isoclinal folded and sheared fine to course
grained metasedimentary and metavolcanic units. The Aida structural corridor forms a 4 km long
north-northwest trending second order structure sub-parallel to the regional first order Gold Line belt
structure corridor. All units demonstrate a dominant penetrative fabric and schistosity, and folding is
isoclinal, indicating a high strain environment. Mineralization is mainly hosted within the mafic volcanic
and to a lesser extent coarser grained metagreywacke units that make up the foot wall. No
mineralization is present within the finer grained black shale units that make up the hanging wall
lithology. Mineralization is associated with arsenopyrite and both laminated and non-laminated quartz
veins and has an affiliation to the highest strain zones of the mafic volcanic unit located at the
footwall contact between the metavolcanic host and metagreywacke footwall units.
About the Paub
ä
cken Project
The Paubäcken project consists of three licenses totalling 17,097 ha that cover the central part of an
emerging district in north central
Sweden
known as the "Gold Line belt". The Gold Line belt is host to
several significant gold deposits, including the Company's nearby Barsele project (operated as a
joint venture between the Company and Agnico Eagle Mines Ltd.) as well as the Svartliden mine and
Fäboliden development project (operated by Dragon Mining Ltd). The Svartliden mine was in
production from 2005 to 2015 and a total of 3.18 million tonnes of material grading 4.1 g/t Au was
processed during its operation (
http://www.dragonmining.com/svartliden
). Paubäcken is strategically
positioned between Barsele and Fäboliden, is a few hundred meters northeast of the Svartliden
mine, and features a regional shear zone with multiple untested gold anomalies.
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
First Nordic's flagship is the Barsele gold project, located in
Sweden
and in a joint venture with
senior gold producer Agnico Eagle Mines Ltd. The Barsele project currently hosts a combined open
pit and underground NI 43-101 Indicated Resource of 324,000 ounces gold and an Inferred resource
of 2,086,000 ounces gold [1]. Immediately surrounding the Barsele project, First Nordic is the 100%-
owner of a district-scale license position of close to 100,000 hectares on both the prolific Gold Line
belt and Skellefte VMS belt. Additionally, in northern Finland First Nordic holds the entire
underexplored 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.
References
[1] Technical Report and Mineral Resource Estimate for the Barsele Property, 2020, InnovExplo
Follow First Nordic Metals:
Twitter: @fnmetals | Youtube: @firstnordicmetalscorp | LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals | Instagram: @firstnordicmetals
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.
Cautionary Note Regarding Forward-Looking Statements:
This News Release contains forward-looking statements, including but not limited to comments
regarding the timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, 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 Barsele undertakes no
obligation to update such statements, except as required by law.
APPENDIX
Figure 1: Gold Line Belt project area with regional geology, showing locations of 2023/24 exploration
programs. (CNW Group/First Nordic Metals Corp.)
Figure
1
: Gold Line Belt project area with regional geology, showing locations of 2023/24
exploration programs.
Figure 2: Map of Paubäcken project area showing regional till sampling geochemical results (CNW
Group/First Nordic Metals Corp.)
Figure
2
: Map of Paubäcken project area showing regional till sampling geochemical results
Figure 3: Map of Paubäcken project area showing historic ionic leach gold-in-till results (CNW
Group/First Nordic Metals Corp.)
Figure
3
: Map of Paubäcken project area showing historic ionic leach gold-in-till results
Figure 4: Geological map of the Harpsund structural corridor (CNW Group/First Nordic Metals
Corp.)
Figure
4
: Geological map of the Harpsund structural corridor
Figure 5: Map of the Aida Target area showing BoT drilling results and recent extension of confirmed
gold mineralization (CNW Group/First Nordic Metals Corp.)
Figure
5
: Map of the Aida Target area showing BoT drilling results and recent extension of
confirmed gold mineralization
SOURCE
First Nordic Metals Corp.
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For further information:
For further information contact: Alicia Ford, Business Development
Manager, Phone: 403-604-9646, Email: [email protected]
CO: First Nordic Metals Corp.
CNW 04:00e 17-JUN-24