VANCOUVER, BC, Sept. 9,
2024 /CNW/ - First Nordic Metals
Corp. (the "Company" or "FNM") (TSXV: FNM)
(OTCQB: FNMCF) (Germany: HEG0) is pleased to provide an exploration
update on its 100%-owned Storjuktan project ("Storjuktan" or the
"Project") located on the Gold Line belt, northern Sweden, approximately 30 kilometers ("km")
north of the Company's flagship Barsele project. At Storjuktan, the
Company's glacial till geochemical survey, which started several
weeks ago, is progressing well and the Company has recently
commenced a property-wide geophysical survey.
Taj Singh, First Nordic
President and CEO comments: "Storjuktan already has one
highly prospective target advancing towards drilling – the 5.5 km
Nippas target – but 90% of the project area has not had any
significant geochemical and geophysical work carried out on it. We
believe there is high potential for the discovery of other exciting
targets at Storjuktan.
"The fall will be a busy and exciting period for FNM, with
key technical programs being carried out at multiple high-priority
projects on the Gold Line belt (including Paubäcken and
Klippen). With the adjacent, resource-stage Barsele project
as our foundation, our near-term aims are to progress our advanced
targets through drilling and to discover new targets on what we
believe will be Europe's next
major gold camp."
Storjuktan UAV Magnetic Geophysical Survey
FNM has commenced its unmanned aerial vehicle (UAV) magnetic
geophysical survey over the entire 25,000 hectares ("ha") of the
Storjuktan Project area. Approximately 35% of the survey has been
completed at the time of this news release and the survey is
projected to be completed by the end of September, weather
permitting. Radia Oy, an industry
leader in UAV magnetic surveys, has been commissioned to conduct
the 5,193 line-km survey. The survey will be flown on 50 meter ("m)
spaced lines at an average height of 45
m. Following completion of the survey, the data will be
systematically interpreted to map the underlying geology and
structural architecture of the Storjuktan project area in
detail.
The survey has two objectives: (i) mapping of the structural
architecture of the northern portion of the Gold Line belt for
target definition in areas where surficial geochemical anomalies
have been observed, and (ii) identification of new targets within
the Storjuktan project area, where no exploration activities have
taken place to date.
Storjuktan Surface Till Geochemistry Survey
The Company has collected approximately 6,500 B-Horizon glacial till samples,
representing approximately 30% of the total coverage area planned
for 2024. Glacial till sampling will continue through the fall. The
survey is designed to cover the remaining 20,000 ha of the 25,000
ha project area. A high-density sample spacing is used
(15 m x 75
m sample spacing) to identify anomalous areas. All samples
are screened using XRF (x-ray fluorescence) analysis for gold
pathfinder elements and samples from anomalous areas will be sent
for gold assay at an external laboratory.
Program Update on Other Projects
The Company's work plans for its other 100%-owned projects
remain on track; this includes:
- Klippen project: top-of-bedrock / base-of-till
(BoT) drilling to start – October
2024
- Storjuktan project (Nippas target): BoT drilling –
Q4 2024
- Paubäcken project (Harpsund target): BoT drilling –
Q4 2024
- Paubäcken project (Aida target): BoT and diamond
drilling – Q1 2025
About the Storjuktan Project
The Storjuktan project is a large, early-stage project
strategically positioned north of the Company's Barsele project. It
consists of seven contiguous licenses covering 30,000 ha located in
the northern portion of the Gold Line belt. The Storjuktan project
contains over 60 km of the Gold Line structure. All mineralization
discovered to date shows a spatial relationship to this structural
corridor, occurring mainly on second- and third-order splay
structures.
About the Gold Line Belt Geology
The geology of the Gold Line belt consists of an inverted
volcano-sedimentary sequence intruded by small pre- to
syn-kinematic granitic intrusions within a broad, anastomosing high
strain structural corridor. Lithologies are regionally
metamorphosed to upper greenschist and amphibolite grade facies,
and gold mineralization is associated with intense sericite,
carbonate, biotite, and calc-silicate alteration assemblages and
sulphide minerals pyrite, arsenopyrite, and pyrrhotite. The
regional Gold Line structural corridor runs up the axis of the belt
with many jogs, splays, and zones of structural complexity that are
potential locations for dilation and deposition of gold bearing
fluids. These lithological sequences are deemed to be highly
prospective for orogenic gold deposits.
ABOUT FIRST NORDIC METALS
The Company's flagship asset is the Barsele gold project,
located in Sweden and in a joint
venture with senior gold producer Agnico Eagle Mines Limited.
Immediately surrounding the Barsele project, FNM is the 100%-owner
of a district-scale license position of close to 100,000 hectares
on Gold Line belt. Additionally, in northern Finland FNM is the
100%-owner of a district-scale position covering the entire Oijärvi
greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director
Qualified Person
Benjamin Gelber, P. Geo., Chief
Technical Director of the Company, is the Qualified Person as
defined in NI 43-101 and takes responsibility for the
technical disclosure contained within this news release.
Follow First Nordic Metals:
Twitter: @fnmetals
| Youtube: @firstnordicmetalscorp | LinkedIn:
@firstnordicmetals
Facebook: @FirstNordicMetals | Instagram:
@firstnordicmetals
Forward-Cautionary Note Regarding Forward-Looking
Statements:
Neither the 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.
This News Release contains forward-looking statements, including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements and First Nordic Metals undertakes no obligation to
update such statements, except as required by law.
APPENDIX
Figure
1: Storjuktan surface till sampling
and UAV magnetic geophysics survey plan map (as at September 9, 2024)
SOURCE First Nordic Metals Corp.