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.
Qualified Person
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.