VANCOUVER, BC, Oct. 7, 2024
/CNW/ - First Nordic Metals Corp. (the "Company"
or "First Nordic") (TSXV: FNM) (OTCQB: FNMCF) (FRA: HEG0) is
pleased to announce the commencement of a base-of-till ("BoT", also
known as top-of-bedrock) drilling program on the 100%-owned Klippen
Project ("Klippen" or the "Project") located in the southern extent
of the Gold Line Belt, northern Sweden.
Taj Singh, First Nordic
President and CEO comments: "The Klippen target
currently being tested represents one of the most extensive gold
and pathfinder element anomalies in the First Nordic portfolio, at
over 5 kilometer long. The litho-structural setting is ideal
for large orogenic gold deposits, and historical exploration has
identified gold mineralization, but this does not seem to explain
the size and intensity of the till anomaly, so the exploration
potential here remains high. BoT drilling is the most effective
method of targeting potential new discoveries under glacial till
cover and has already proven fruitful at our Paubäcken Project's
Aida discovery further north. We look forward to reporting results
later this fall as well as advancing exploration on multiple assets
on the Gold Line belt in Q4."
Q4 2024 Klippen Project Exploration Program
The fall
Klippen Project BoT drilling program is designed to
investigate bedrock sources of a > 5 kilometre ("km") by 350
meter ("m") wide historic gold, arsenic, copper and zinc glacial
till anomaly oriented in the prominent ice flow direction. The
program will include up to 120 BoT drill holes and is designed to
systematically test the bedrock along a 1 km zone interpreted to be
the most probable source of the till anomaly based on
interpretation of geophysical data and ice flow direction (see
Figure 1). Several other coincident arsenic, copper, zinc anomalies
identified in the 2023 glacial till sampling program will also be
tested. Samples from these target areas were analyzed using XRF
(x-ray fluorescence) which did not analyze for gold but contain
similar pathfinder element assemblages.
Historic BoT and diamond drilling campaigns carried out by
previous operators was focused in a small area of the anomalous
zone. Here, anomalous gold mineralization was encountered in both
BoT and diamond drilling. Mineralization observed is mainly hosted
within a highly strained and altered syn-kinematic granodiorite
measuring 4.5 km by 0.5 km. Gold mineralization mainly occurs as
sulphide veins consisting of pyrite, arsenopyrite, chalcopyrite and
pyrrhotite hosted within the highest strain zones of the
granodiorite and minorly within highly strained sedimentary and
volcanic units along the margins of the granodiorite.
Mineralization is associated with intense sericite, carbonate,
epidote and biotite hydrothermal alteration assemblages extending
laterally into wall rock. Interpretation of historic drill core has
led to the interpretation that mineralization encountered to
date may be distal to a larger zone of mineralization under the
main area of the till anomaly.
About the Klippen Project
The Klippen project is
located in a southern extension of the Gold Line Belt in northern
Sweden. The geology consists of a
sequence of inverted basin sediments and mafic volcanic rocks
intruded by small syn-kinematic granitic intrusions within a broad,
anastomosing high strain structural corridor. These lithological
sequences are highly prospective for orogenic gold deposits.
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 northern 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 Greenstone 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.
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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 may include forward-looking statements that
are subject to inherent risks and uncertainties. All statements
within this news release, other than statements of historical fact,
are to be considered forward looking. Although First Nordic
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those described in
forward-looking statements. Factors that could cause actual results
to differ materially from those described in forward-looking
statements include fluctuations in market prices, including metal
prices, continued availability of capital and financing, and
general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore,
readers are advised to rely on their own evaluation of such
uncertainties.
SOURCE First Nordic Metals Corp.