VANCOUVER, BC, Oct. 20, 2020 /CNW/ - Norra
Metals Corp. (the "Company") (TSX-V: NORA)
(FSE: 1K0), a junior exploration company focused on
unlocking mineral wealth in Norway, is pleased to provide project updates
for its 100% owned Bleikvassli and Meråker projects.
Bleikvassli Project
The Company's Bleikvassli project
consists of six contiguous exploration licenses encompassing 6,000
hectares and includes the past producing Bleikvassli mine.
Operations at Bleikvassli began in 1957 and lasted until 1997,
producing in total more than five million tonnes of
zinc-copper-lead-silver ore.
This large strategic land package offers significant exploration
potential through both brownfield targets within and around the
historic mine area as well as numerous areas across the exploration
licenses that support prospective geology and mineralized surface
anomalies. The project benefits from excellent infrastructure
including paved roads and rail access as well as a nearby labor
force located 50 kilometers away in the industrial mining town of
Mo-I-Rana, which provides access to a deep water port and regional
airport.
Norra originally acquired the project from EMX Royalty Corp.
(TSX.V: EMX) in late 2018 (see press release dated December 13, 2018). Since closing the
acquisition, Norra's technical team has completed a significant
amount of work to prepare the project for a Phase I exploration
program. To date, the Company has conducted a comprehensive review
of available historic data for the Bleikvassli mine and
incorporated it into a Leapfrog 3D geological model that compiles
both historic assay data from over 650 drill holes as well as
outlines underground workings and the previously mined areas of the
deposit. These efforts have allowed the Company to gain a better
understanding of structural controls on mineralization in and
around the Bleikvassli mine area.
Additionally, the Company has identified three high-priority
drill target areas at the north and south end areas of the historic
mine area as well as at depth underneath the main area of historic
mining. The Company is currently finalizing plans to conduct a 5-10
diamond drill hole campaign totaling 1,500-meters to test these
targets.
Mineralization at Bleikvassli consists of lenses of Zn-Cu-Pb-Ag
massive sulphide mineralization which locally grade into more
copper and gold-rich compositions. Mine workings span several
levels and extend across 25 kilometers of drifts, raises and
shafts.
According to the Norwegian Geological Survey (NGU), historic
resources remaining at the time of the mine closure totaled 720,000
tonnes grading 5.17% Zn, 0.27% Cu, 2.72% Pb, 45g/t Ag, 0.2g/t Au.
The Company cautions that it is not aware of the key
assumptions, parameters or methods, including data verification
techniques used by the NGU to prepare these historic estimates and
has not performed sufficient work to verify these published
resource numbers and therefore is not treating the historical
estimates as current mineral resources. For more information
please reference the N.I. 43-101 technical report titled "2019
Technical (NI43-101) Report on the Bleikvassli Property" dated
March 4, 2019 and available at
www.sedar.com under the Company's profile page or on Norra's
website.
Meråker project
The Meråker project comprises 21
contiguous mineral licenses totaling 20,000 hectares. It is located
100 kilometers north of the prolific Røros mining district where
more than 30 million tonnes of copper-rich VMS material have been
mined.
Historic mining within the Meråker project boundaries, dates
back more than 200 years and numerous mines produced copper
continuously until the early 1900's. The most significant reported
production originated from the Lillefjell deposit, which historic
records suggest produced 110,000 tonnes of mineralized material
grading 5% copper and 4.5% zinc, were extracted.
The Norwegian Geological Survey (NGU)'s databases of surface
rock samples and mineral occurrences both record an abundance of
mineralized locations scattered throughout the property, with
economically significant values of copper, zinc, gold and silver at
multiple locales. The project is accessible via well maintained
roads from the village of Meråker in central Norway. Nearby supplies, labor and an
international airport are accessible in the city of Trondheim
located to the west.
Based on data compilation and site visits, the Company believes
that Meråker represents an attractive exploration target that
justifies additional work. Specifically, the Lillefjell, Mannfjell
and Fonnfjell showings are all subjects of historic volcanogenic
massive sulphide (VMS) production by small-scale miners. Rock and
chip sampling by Norra consultants during site visits in 2018
identified very anomalous levels of zinc, copper and gold.
The Company is now planning a multi-phase exploration program
that will include additional field visits for reconnaissance
sampling and geological mapping that will be followed up by a
diamond drill program to test high-priority targets.
For more information please reference the NI43-101 technical
report titled "2019 Technical (NI43-101) Report on the Meråker
Property" dated February 27, 2019 and
available at www.sedar.com under the Company's profile page or on
Norra's website.
About Norway
According to the Fraser
Institute, Norway is ranked as one
of the world's top mining jurisdictions and is host to tremendous
mineral endowment and potential. The Scandinavian country
represents a safe and stable mining jurisdiction with supportive
mining policies. With a deep history and culture tied to mining,
Norway offers access to a skilled
labor force, low cost energy and excellent infrastructure.
About Norra Metals
Norra Metals Corp. (TSX-V:
NORA) is a Canadian-based precious and base metals
exploration company. The Company's Norwegian assets include the
past-producing Bleikvassli polymetallic, zinc-copper-lead-silver
underground mine project and the high-grade
Meråker copper-zinc-gold exploration project. The Company also
holds a 100% interest in the Pyramid copper-gold porphyry project
located in Northwest British
Columbia. For more information, please visit
www.norrametals.com.
Qualified Person
This news release was prepared by
Company management, who take full responsibility for its content.
George Cavey P.Geo., Director, is a
Qualified Person as defined by National Instrument 43-101 of the
Canadian Securities Administrators and has reviewed and approved
the technical disclosure in this release.
ON BEHALF OF THE BOARD OF
NORRA METALS CORP.
Per: "Minaz Devji"
Minaz Devji,
CEO and Director
Forward-Looking Statements
This news release contains certain statements
that may be deemed "forward-looking statements" with respect to the
Company within the meaning of applicable securities laws.
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", "indicates", "opportunity",
"possible" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the
Company 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,
the Company's ability to raise sufficient capital to fund its
obligations under its property agreements going forward, to
maintain its mineral tenures and concessions in good standing, to
explore and develop its projects, to repay its debt and for general
working capital purposes; changes in economic conditions or
financial markets; the inherent hazards associates with mineral
exploration and mining operations, future prices of copper and
other metals, changes in general economic conditions, accuracy of
mineral resource and reserve estimates, the potential for new
discoveries, the ability of the Company to obtain the necessary
permits and consents required to explore, drill and develop the
projects and if obtained, to obtain such permits and consents in a
timely fashion relative to the Company's plans and business
objectives for the projects; the general ability of the Company to
monetize its mineral resources; and changes in environmental and
other laws or regulations that could have an impact on the
Company's operations, compliance with environmental laws and
regulations, dependence on key management personnel and general
competition in the mining industry. Forward-looking statements are
based on the reasonable beliefs, estimates and opinions of the
Company's management on the date the statements are made. Except as
required by law, the Company undertakes no obligation to update
these forward-looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should
change.
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.
SOURCE Norra Metals Corp.
