District Identifies Numerous High Priority Geophysical Targets across the Tomtebo Property
(PresseBox) - District Metals Corp. (TSX-V: DMX) (FRA: DFPP); ("District" or the ?Company?) is pleased to report additional results from the final airborne electromagnetic (?EM?) and magnetic data that covers the entire 5,144 hectare Tomtebo Property located in the Bergslagen Mining District in south-central Sweden.
Garrett Ainsworth, CEO of District, commented: ?We are very pleased with the SkyTEM results, and the application of this modern exploration method has undoubtably proven to be very successful. The recently flown survey has identified numerous conductive and magnetic high anomalies that showcases the exceptional potential to make additional polymetallic discoveries across the Tomtebo Property.
Our last step before drilling anticipated in Q1 2021 will include a targeted ground gravity survey over the Tomtebo Mine Trend which will start shortly and help us refine and prioritize existing targets within this important trend.?
The SkyTEM results have been interpreted such that moderately to strongly conductive zones represent targets for copper-gold dominant sulphide mineralization, and non-conductive to weakly conductive zones represent targets for silver-zinc-lead dominant sulphide mineralization.
SkyTEM Highlights ? Tomtebo Property
The previously reported 3 km long Tomtebo Mine Trend (refer to October 15, 2020 news release) has been extended to 4.7 km long. This trend comprises numerous magnetic high anomalies (A to C) and conductive anomalies (3 to 7, 11) that strike northeast and southwest from the historic Tomtebo Mine (Figure 1).
A total of 26 target zones (1 to 26) have been identified based on EM or conductive anomalies where 11 target zones are medium priority and three are high priority (Figure 1 and Table 1).
A total of 11 target zones (A to K) were identified based on only magnetic high anomalies where seven target zones are medium priority and four are high priority (Figure 1 and Table 2).
A ground gravity survey over the Tomtebo Mine Trend has been approved, and is scheduled to commence imminently.
Historic Tomtebo Mine Target
The Tomtebo Mine was picked up as high priority target zone 7 where coincident electromagnetic (EM) and magnetic high responses have been identified. anomaly.
Drill targets have been generated through Maxwell plate modeling of the EM data at the Tomtebo Mine, which produced three conductive plates that have a combined strike length of 375 m, thickness of 14 to 78 m, and vertical extent of at least 213 to 600 m.
Historic L
The L
One of the single peak EM anomalies was modeled for drill targeting, and shows a steeply dipping body of moderate conductivity with significant thickness.
Skallerberget Target
The high priority Skallerberget target is at the south end of target zone 24, and comprises a conductive anomaly that is observed approximately 500 m south of the L
The EM anomaly at the Skallerberget target has been modeled as a steeply dipping weak to moderate conductor. The anomaly is a single peak and is explained by a body with significant thickness.
K
The K
A single EM anomaly was chosen for plate modelling within the 700 m long conductive trend at K 400 m.
Kvistaberget Target
The medium priority Kvistaberget target comprises target zone 26. There are several other sulphide occurrences within a few hundred meters of the Kvistaberget EM anomaly, however, none of them have any associated EM anomalies. The decay rate for the conductive anomaly at Kvistaberget indicates moderate conductivity.
The EM anomaly at the Kvistaberget target has been modeled as a steeply dipping weak to moderate conductor. The data fit is better for a body with a large down-dip extent, but this parameter is not well constrained by the data.
Next Steps at Tomtebo Property
Ground gravity survey over the Tomtebo Mine Trend.
Ongoing interpretation of the geological and geochemical data obtained from fieldwork conducted at Tomtebo in the fall of 2020.
Permitting for a Q1 2021 drill program focused on the historic Tomtebo Mine has commenced.
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, President and CEO of the Company.
About District Metals Corp.
District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company?s mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders.
The advanced exploration stage Tomtebo Property, located in the Bergslagen Mining District of south-central Sweden, is the Company?s main focus.imate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district. Mineralization that is open at depth and along strike at the historic mines on the Tomtebo Property has not been followed-up and modern systematic exploration has never been conducted on the Property.
Neither 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 Statement Regarding ?Forward-Looking? Information.
This news release contains certain statements that may be considered ?forward-looking statements? within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as ?plans?, ?targets?, ?expects? or ?does not expect?, ?is expected?, ?an opportunity exists?, ?is positioned?, ?estimates?, ?intends?, ?assumes?, ?anticipates? or ?does not anticipate? or ?believes?, or variations of such words and phrases or state that certain actions, events or results ?may?, ?could?, ?would?, ?might?, ?will? or ?will be taken?, ?occur? or ?be achieved? and other similar expressions. In addition, statements in this news release that not historical facts are forward looking statements including anticipated results of future exploration and the results of additional compilation work.
These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, , including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen District"Definitive Purchase Agreement") by the times specified therein (failing which the Tomtebo Property will be forfeited without any repayment to the Company); and stability in financial and capital markets.
There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company''s expectations include the risk that historic data regarding the Tomtebo property is unreliable, the risk that information concerning production and mineralization at current and historic mines within the Bergslagen District proves to be inaccurate; the risk that the Company will be unable to raise sufficient capital to finance planned exploration (including incurring prescribed exploration expenditures required by the Definitive Purchase Agreement, failing which the Tomtebo Property will be forfeited without any repayment of the purchase price); future metal prices, general economic, market or business conditions, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ?Risks and Uncertainties? in the Company?s MD&A for the financial year ended June 30, 2020.
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Datum: 08.12.2020 - 04:32 Uhr
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