VANCOUVER, BC, Feb. 17, 2022 /CNW/ - Norden Crown Metals Corp.
("Norden Crown" or the
"Company") (TSXV: BMX) (OTC: NOCRF) (Frankfurt :
03E) is pleased to announce that the Burfjord Joint Venture
Committee (Boliden Minerals AB and Norden
Crown) has designed and approved an exploration budget of
1.94 Million ($CAD) for the Burfjord Project in 2022. Planned
exploration at Burfjord in 2022 consists of diamond drilling,
ground electrical and airborne magnetic geophysics, mapping,
sampling (rock and soil), and prospecting. Boliden has
completed USD $1.909 Million in
expenditures at Burfjord to date which represents 32% of their
expenditure commitment to earn 51% of the project (first
threshold). Previous drilling by Norden
Crown (see March 20, 2019 News
Release) at Burfjord returned compelling
results including an intercept of 32
metres averaging 0.56% copper and
0.26 g/t gold (including 3.46
metres of 4.31% copper and 2.22
g/t gold) at shallow depths below
a cluster of historic mine
workings1,2. Historical drilling on
the Project (Cedarsgruvan) was
reported to have returned 7.0 metres
averaging 3.6% copper3.
President and CEO Patricio Varas
stated "In these times of Covid restrictions and intermittent
access to the projects we are pleased to report that Norden Crown was able to carry out drilling,
ground and airborne geophysics and significant geological mapping
and sampling to advance the Burfjord project. Drilling,
geological and geophysical results have led the technical committee
to put together an exciting exploration program that has potential
for new discoveries of IOCG Copper mineralization. We are
delighted to join our partners, Boliden, in approving this
promising exploration budget."
Burfjord 2022 Exploration
Norden Crown together with
partner Boliden Mineral AB ("Boliden") have designed and approved
an exploration program and budget totaling (CAD) $1,946,226 that provides for exploration
drilling, exploration geophysics, surface geochemical sampling,
mapping, and prospecting at the Burfjord Project, northern
Norway. The objective of the 2022
exploration program is to test several existing drill stage targets
on the property and to advance a series of targets to the
delineation stage with drill testing.
Exploration Geophysics
UAV Airborne Magnetic
Geophysics
Norden Crown will resume an
airborne magnetic geophysical survey at Burfjord which was delayed
due to Covid related access restrictions in 2021. A total of
250 line-kilometres of UAV airborne magnetic data will be collected
over the northern half of the land position (total survey size: 860
line-kilometres). These data will help refine the Burfjord
geological and structural framework and aid in target selection and
target ranking.
Time-Domain Electromagnetic
Geophysical Survey
A total of 5-time domain electromagnetic ("TEM") geophysical
survey loops compliment the Phase I surveying done in 2019 (News
Release August 23, 2020) which
produced compelling drill targets. Data from Phase II will be
used to generate additional conductive, copper prospective
anomalies. Results (anomalies) from TEM surveys will aid in
target selection and ranking.
Borehole EM Survey
Borehole EM Geophysics may be utilized as part of the 2022 drill
program. Borehole EM Geophysics will utilize existing drill holes
as well as new drill holes to identify conductive sulphide
mineralization with the potential to host copper
mineralization.
Soil Sampling
An extensive, high-resolution soil survey (portable XRF; 100
meter lines, 25 meter stations) is planned for the 2022 summer
program. The planned survey includes a 3,000 sample
orientation survey which may be followed by a property wide soil
sampling initiative with the objective of producing high resolution
multi-element geochemical anomalies for drill testing. These
data are expected to also enhance existing geological and
geophysical targets as well as areas of interest.
2022 Diamond Drilling
A total of 2,500 meters of diamond drilling is planned for 2022
with the objective of expanding the footprint of the copper
mineralization discovered by the drill programs carried out in
2021. The drilling will also test new high priority TEM
geophysical targets coincident with zones of copper mineralization
on surface, accompanied by strong altered and brecciated rocks.
Drill targets have been assembled and ranked but will
be further refined based on the geological, geophysical, and
geochemical data from the ongoing exploration programs.
Mapping, Sampling and Prospecting
A 45-day mapping, sampling and prospecting program will be
conducted in 2022 with the objective of better defining geological
controls, including structural and alteration distribution and
density, advancing and ranking high-priority exploration targets at
Burfjord.
Burfjord Joint Venture Terms
Norden Crown entered into an
option agreement (the "Agreement") with Boliden in respect to
Burfjord (see June 10, 2020 News
Release). To earn its 51% interest in the Project, Boliden must
fund 100% of the exploration programs by spending US$6 Million over the next four years.
Overview of the Burfjord Project
The Project, located in the Kåfjord Copper Belt near Alta,
Norway is highly prospective for
Iron Oxide Copper Gold (IOCG) and Sediment Hosted Copper mineral
deposits. High-grade copper-gold veins at Burfjord that were
historically mined (pre 20th century) at reported cutoff grades of
3-5% Cu are surrounded by envelopes of stockwork veins or
disseminations of copper mineralization extending tens to hundreds
of metres laterally into the host rocks. Norden
Crown and Boliden believe
this mineralization has economic potential and represents
an attractive bulk tonnage exploration
target. Burfjord is comprised of six exploration
licenses totaling 5,500 hectares in the Kåfjord Copper
Belt near Alta in Norway. During the nineteenth century,
copper mineralization was mined from over 30 historic
mines and prospects developed along the flanks of a
prominent 4 x 6-kilometre fold (anticline) consisting
of interbedded sedimentary and volcanic rocks. Many
of the rocks in the anticline are
intensely hydrothermally altered and
contain sulphide mineralization.
About Norden Crown
Norden Crown is a mineral
exploration company focused on the discovery of silver, zinc,
copper, and gold deposits in exceptional, historical mining project
areas spanning Sweden and
Norway. The Company aims to discover new economic mineral
deposits in historical mining districts that have seen little or no
modern exploration techniques. The Company is led by an
experienced management team and an accomplished technical team,
with successful track records in mineral discovery, mining
development and financing.
Qualified Person
Daniel MacNeil, P.Geo, a
Qualified Person as defined by National Instrument 43-101 Standards
of Disclosure for Mineral Projects, has read and approved all
technical and scientific information contained in this news
release. Mr. MacNeil is Vice President Exploration for Norden Crown.
References
1Intercept reported as reported in drill core. The
true width is estimated at 85-100% of the reported interval.
2See Norden Crown's
March 20, 2019 News Release for
discussion of analytical methods, QA/QC and core handling
protocols.
3 Source: NGU Deposit
Factsheet, Deposit Area 1943-010,
1997. Norden Crown's property reviews
have confirmed the geologic setting
and occurrence of
mineralization on the Project and
considers the historic exploration
data to be relevant as reported
in public disclosures and government
reports.
On behalf of Norden Crown Metals
Corp.
Patricio Varas, Chairman and
CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the 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 certain statements that may be deemed
"forward–looking statements". Forward–looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Forward-looking statements
may include, without limitation, statements relating to future
outlook and anticipated events, such as the successful completion
of the exploration program (consisting of diamond drilling,
mapping, prospecting, outcrop sampling, airborne magnetic and
ground electromagnetic geophysical surveys) as discussed herein,
the dates the various segments of the exploration program will
commence, the duration of various segments of the exploration
program, and the planned uses of the resulting data. Although
Norden Crown believes the
expectations expressed in such forward–looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, are subject to risks and uncertainties, and
actual results or realities may differ materially from those in the
forward–looking statements. Such material risks and
uncertainties include, but are not limited to, [NTD:
the exploration program is characterized as fully-funded]
the ability of the various contracted entities to complete their
duties within the time expected by the Company, inclement weather
conditions that may impede, delay or stop all or part of the
exploration program, the effects of the Covid 19 epidemic or other
epidemics or pandemics, mechanical breakdowns of equipment used in
the exploration programs, changes in economic conditions or
financial markets; the ability of Norden
Crown to obtain the necessary consents required to explore,
drill and develop the projects and if obtained, to obtain such
consents in a timely fashion relative to Norden Crown plans and business objectives for
the projects; the general ability of Norden
Crown to drill test its projects and find mineral resources;
if any mineral resources are discovered or acquired, the Company's
ability to monetize any such mineral resources; and changes in
environmental and other laws or regulations that could have an
impact on the Company's operations. Forward–looking statements are
based on the reasonable beliefs, estimates and opinions of
Norden Crown management on the date
the statements are made. Except as required by law, Norden Crown undertakes no obligation to update
these forward–looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should
change.
SOURCE Norden Crown Metals Corp.
