RSS SubscribeFebruary 8, 2021
VANCOUVER, BC, Feb. 8, 2021 /CNW/ -Norden Crown Metals Corp. (“Norden Crown” or the “Company“) (TSXV: NOCR) (OTC: NOCRF) is pleased to announce the commencement of a ~3,500 meter diamond drill program at its 100% owned Burfjord Project (“Burfjord” or the “Project”) in northern Norway in collaboration with Boliden Mineral AB (“Boliden”). The jointly planned diamond drill program at Burfjord is based on geological, geochemical, and geophysical anomalies identified during the 2020 Summer exploration programs and aims to test the copper-gold grades and continuity of new targets, historical mines, and prospects. Previous drilling by Norden Crown (see March 20, 2019 News Release) returned compelling drill results from Burfjord, 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 group of historic mine workings1. Historical drilling on the Project returned 7.0 metres averaging 3.6% copper2.
Patricio Varas, Chairman and CEO of Norden Crown stated, “The joint Norden-Boliden team is working closely with newly collected structural, lithological, geochemical and initial TEM geophysical data which suggest the large and intense IOCG alteration footprint at Burfjord with its numerous copper mineralized outcrops and large EM conductors has excellent potential to be a very large copper deposit. Norden’s partnership with Boliden has significantly reduced the financial risk inherent in exploring a large land position. With Boliden funding the project, Norden can conduct systematic exploration programs that optimize the potential to identify economic mineral deposits. We believe this provides value to our shareholders.”
| 1 Intercept reported as seen in drill core. The true width is estimated at 85-100% of the reported interval. See Norden’s March 20, 2019 News Release for discussion of analytical methods, QA/QC and core handling protocols. |
| 2Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997. Norden’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. |
Norden Crown is planning to conduct property wide Drone magnetic surveys as well as a ground based transient electromagnetic (TEM) survey to obtain subsurface resistivity-conductivity data that can be used to track copper and gold associated sulphide mineralization at depth.
Norden Crown entered into an option agreement (the “Agreement”) with Boliden on the Burfjord Project (see June 10, 2020 News Release). Boliden will fund 100% of the exploration programs until it earns a 51% interest, by spending US$6 Million over the next four years.
Overview of the Burfjord Project
The Burfjord Copper-Gold 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 which contribute significantly to copper production globally. High-grade copper-gold veins at Burfjord that were historically mined (pre 20th century) at 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 and Boliden believe this mineralization has economic potential and represents an attractive bulk tonnage exploration drilling target. Copper bearing veins in the area are dominated by ferroan carbonate, sodium-rich minerals, and iron-oxide minerals (magnetite and hematite), but also contain the economically important minerals chalcopyrite, bornite and chalcocite in addition to cobalt-rich pyrite as generally coarsegrained (often 0.5 centimetre to multi-centimetre scale) disseminations in the veins. The Burfjord Project is comprised of six exploration licenses totaling 5,500 hectares in the Kåfjord Copper Belt near Alta, 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.