VANCOUVER, BC, Sept. 1, 2021 /CNW/ – Norden Crown Metals Corp. (“Norden Crown” or the “Company“) (TSXV: NOCR) (OTC: NOCRF) (Frankfurt: 03E) is pleased to announce that it has completed ~ 400 line kilometers (Phase I) of a 2-Phase UAV airborne magnetic geophysical program at the 100% owned Burfjord Copper Project (“Burfjord” or the “Project“) in northern Norway. Norden Crown, in partnership with Boliden Mineral AB (“Boliden“), is actively drill testing a variety of geological, geochemical, and geophysical target anomalies on the property and the results from this tightly spaced survey (see below) are expected to help identify new exploration targets on the property and enhance and prioritize existing drill targets (Figure 1). Phase II of the survey is expected to commence in the coming weeks. 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.
Patricio Varas, Chairman and CEO of Norden Crown stated, “High resolution magnetic geophysics is proving to be an excellent mapping and targeting tool at Burfjord given the high magnetic contrast of the copper host rocks. The Company intends to fully integrate these data with our existing lithological, structural, geophysical and geochemical 3D modeling to enhance existing targets and identify new ones.”
UAV AIRBORNE MAGNETIC GEOOPHYSICS
The Burfjord UAV Magnetic Survey covers approximately 857 line kilometers and will be collected by GRM Geophysical Rock and Mechanical Services Inc. (Finland). The survey will be flown along lines spaced at 100 meters with tie lines at 1000 meters spacing. The survey is broken down into two phases including a Phase I portion covering the northern half of the project area (~400 line kilomters) and a Phase II component (600 line kilomters) covering the southern portion of the property (Figure 1). Survey will be flown with a UAV Quadcopter carrying a GEM-GSMP35 potassium magnetometer (30 meter sensor height). A GEMGSM19 Overhauser magnetometer will be used as a base station.
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). In order 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 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 coarse grained (often 0.5 centimetre to multi-centimetre scale) disseminations in the veins.
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.
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.
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.