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Boreal Discovers New Zone of High Grade Zinc-Silver-Lead-Gold Mineralization at Gumsberg Project in Sweden

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Boreal Metals, a mineral exploration company with a portfolio of zinc, copper, silver, gold, nickel and cobalt projects in Scandinavia, has reported assay results from the first four holes of a recently completed diamond drill program at its Gumsberg project.

Additional Information:

Company: Boreal Metals
Website: http://www.borealmetals.com
Stock Symbol: TSXV: BMX
Date Published: Jan 28, 2019
Transcript: Available

Video Transcript:

I’m Nadika Vizzy for Investmentpitch Media

Boreal Metals, a mineral exploration company with a portfolio of zinc, copper, silver, gold, nickel and cobalt projects in Scandinavia, has reported assay results from the first four holes of a recently completed diamond drill program at its Gumsberg project.

The 100% owned Gumsberg project is located in the prolific Bergslagen Mining District in southern Sweden.

The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS style mineralization occur.

The project is road accessible year-round with nearby access to skilled labour, power and rail.

The VMS mineralization at Gumsberg was mined from the 13th century through the early 1900s, with over 30 historic mines present on the property, most notably the Östra Silvberg Mine which was the largest silver mine in Sweden between 1250 and 1590.

Despite its long-lived production history, relatively little modern exploration has taken place on the project.

In December 2018 and January 2019, Boreal completed nine diamond drill holes, totalling 1,621 metres, in the vicinity of the past producing Östra Silvberg Mine.

Diamond drilling tested prospective stratigraphy east and west of a previously reported intercept from BM-17-005, which returned 10.94 metres of 16.97% zinc, 656.7 grams per tonne silver, 8.52% lead and 0.76 grams per tonne gold south of the main Östra Silvberg mine workings.

Drill holes GUM-18-003 and GUM-18-004 were drilled to the east and west of the high grade mineralization identified by Boreal in BM-17-005.

These intercepts are interpreted to be part of a steeply eastward plunging mineralized body that is spatially separated from the historically defined Östra Silvberg Mine footprint.

Drill holes BOL-009, BM-17-005, GUM-18-003 and GUM-18-004 demonstrate over 130 metres of down plunge continuity

This table shows that both holes returned 11.0 metre high grade intercepts containing veinlet, disseminated, semi-massive and massive sulphide mineralization.

Together, this group of six drill intercepts constitutes an expanding zone of newly recognized mineralization that remains open to the east and at depth.

Karl Antonius, President and CEO, stated: "Boreal has made a new discovery of high grade mineralization near the historic Östra Silvberg Mine on our Gumsberg project in Sweden. Boreal has multiple high grade zinc-silver-lead-gold intercepts in the new South Zone, which remains open at depth and along strike. This is a very exciting development for the Company and is a welcomed reward of our exploration efforts in Sweden."

Results from holes GUM-18-006 and GUM-18-008 are expected in the coming weeks.

The shares are trading at $0.085.

For more information, please visit the company’s website at www.borealmetals.com contact Alexandra Woodyer Sherron, at 604-922-8810 or email info@borealmetals.com.

I’m Nadika Vizzy for Investmentpitch Media