TORONTO, Feb. 10,
2025 /CNW/ - First Nordic Metals
Corp. (the "Company" or "FNM") (TSXV: FNM)
(OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the start of
diamond drilling at its high-priority Aida target ("Aida") on the
Company's 100%-owned Paubäcken project ("Paubäcken" or the
"Project"), located in Västerbotten County, northern Sweden.
The Project is about 40 kilometers ("km") south of the Company's
resource-stage Barsele project (in joint venture with Agnico Eagle
Mines Limited), and Aida specifically is about 4 km north of the
Svartliden operating mill that is currently processing ore from
Sweden's newest gold mine,
Fäbodtjärn (see About the Päubäcken Project section
below).
For Q1, the Company plans to complete an initial 5,150 metres
("m") of diamond drilling at the Aida target using up to two
diamond drill rigs; currently one drill rig is turning, operated by
Finland-based Comadev Oy. A total
of 24 diamond drill holes are designed to test over 3 km of
identified structural corridor coincident with base-of-till ("BoT")
/ top-of-bedrock ("ToB") gold and pathfinder anomalism and stepping
out on the discovery hole at Aida (PAU21003), with a
near-surface intercept of 22.5 m of 2.4 g/t gold ("Au")
(see Dec. 27, 2021 news release). Based on the success of
the Q1 drill program FNM expects to complete a further 5,000 to
10,000 m of drilling on Aida
throughout 2025 and remains fully funded to do so.
FNM CEO Taj Singh
comments: "It's an exciting time on the Gold Line belt.
Several top-of-bedrock rigs have been turning, and diamond drills
are now getting going as well. Starting at Aida, we are beginning
the most comprehensive diamond drill program ever carried out on
the Gold Line belt outside of our Barsele project. A vast
majority of the Gold Line belt structural / geochemical trend,
where we are by far the largest claimholders, with 100%-ownership
of +80km of strike, has not been previously drill tested due to the
lack of surface exposure and previous exploration in the area. FNM
is now in a position to drill test multiple multi-kilometric
targets on the Gold Line belt."
Q1 2025 Aida Diamond Drill Program
The Q1 2025 Aida
drill program has been designed to step out on known mineralization
and test over 3 km of strike along the 4 km Aida target to
understand size, geometry, and structural controls of
mineralization within the shear corridor. Two previous drilling
campaigns completed in 2021 and 2022 tested approximately 1 km of
the structure and successfully intercepted gold mineralization,
including 22.5 m of 2.4 g/t Au in PAU21003. In 2023,
follow up BoT/ToB drilling successfully expanded the mineralized
footprint to the north and south along the structure to 1.5 km,
including the highest ToB result to date on the Project of 5.01 g/t
Au. A total of only 1,492 m of
diamond drilling has historically been done by FNM at Aida.
Ten drill holes are designed to test 2 km of structural corridor
extending south from previous drill holes. Drilling here will test
the southern extension of PAU21003 as well as the 5.01 g/t Au
result from the 2023 ToB drilling. Wider spaced drill holes are
designed to test the remainder of the southern extension of the
target structure. Along the northern extension, ten drill holes are
planned to step out on previous drilling and test anomalous 2023
ToB results, including up to 2 g/t Au along the structural
corridor. Four additional drill holes are designed to test targets
on parallel structures to the east with anomalous ToB results.
Figure 1 (see Appendix section below) shows the Aida plan
for the first 5,150 m of drilling, in
24 holes. Planning for additional meters will occur as drilling
progresses and results are received.
About the Aida Target
The Aida target is a +4 km trend
within the Gold Line structural corridor, close to the junction
between the Svartliden shear zone to the southwest (historic
high-grade gold mine) and the gold line main shear corridor.
Located under ~3-20 m of glacial till
cover, the structural corridor was first identified in a regional
top of bedrock drilling program in 2021. Litho-structural modeling
of magnetic geophysics data interpreted the structural corridor as
a second order splay structure off the regional first order Gold
Line belt structure.
Mineralization along the Aida structural corridor is hosted
within highly sheared and hydrothermally altered mafic volcanics
and greywacke, surrounded by black shale metasedimentary units and
appears to be controlled by rheological contrast between
lithologies and flexures and intersections within the structural
corridor.
About the Paubäcken Project
The Paubäcken Project
consists of four licenses covering 19,737 hectares that cover the
central part of an emerging district in north
central Sweden known as the "Gold Line belt". The Gold
Line belt is host to several significant gold deposits, including
the Company's nearby Barsele project, as well as the Svartliden
gold mine and mill complex and Fäboliden development project (both
operated by Dragon Mining Ltd,
http://www.dragonmining.com/svartliden). The Svartliden mill
is currently processing gold ores from the Fäbodtjärn gold mine,
which started mining operations in 2024
(https://www.botniaexploration.com/projekt/fabodtjarn).
The Paubäcken project is strategically positioned between
Barsele and Fäboliden, and 5 km northeast of the Svartliden mine,
within the Gold Line belt in northern Sweden. The Project
contains 22 km of the regionally significant "Gold Line" structure
which can be traced for over 200 km in regional geophysics data.
The Gold Line was first recognized in the late 1970s as a large
arsenic-in-soil anomaly formed by a regional fault. All
mineralization discovered to date shows a spatial relationship to
this structural corridor, occurring either in the main shear
corridor or on perpendicular structures within a few km of the main
structures. The geology of the Paubäcken project 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. The rocks are
regionally metamorphosed to amphibolite facies and gold
mineralization is associated with intense biotite, and
calc-silicate alteration assemblages and sulphide minerals
pyrrhotite, arsenopyrite, and minor other sulphides. These
lithological sequences are highly prospective for orogenic gold
deposits.
About First Nordic Metals
First Nordic Metals Corp.
(FNM) is a Canadian-based gold exploration company, consolidating
assets in Sweden and Finland, with a vision to create Europe's next gold camp. The Company's
flagship asset is the Barsele gold project in northern Sweden, a joint venture project with senior
gold producer Agnico Eagle Mines Limited. Immediately surrounding
the Barsele project, FNM is 100%-owner of a district-scale license
position comprised of three additional projects (Paubäcken,
Storjuktan, Klippen), which combined with the Barsele project,
total 104,000 hectares on the Gold Line belt. Additionally, in
northern Finland, FNM is the
100%-owner of a district-scale position covering the entire
underexplored Oijärvi greenstone belt, including the Kylmäkangas
deposit, the largest known gold occurrence on this belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
CEO & Director
Qualified Person
Benjamin
Gelber, P. Geo., Exploration Head of FNM, 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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Twitter: @fnmetals
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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, receipt of
property titles, potential mineral recovery processes, 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 FNM undertakes no obligation to update such
statements, except as required by law.
SOURCE First Nordic Metals Corp.