(via TheNewswire)
![]() | |||||||||
![]() | ![]() | ![]() |
High grade gold assays from recent surface discoveries and historical mine sampling
Finnsbo Property Highlights:
A recent grab sample at Finnsbo, gadolinite mineralization with gold bearing chalcopyrite, had 27.1 grams per tonne (gpt) Gold, 1.44% Copper and 5.3% TREOY. Nd-Pr-Dy account for 25%.
The 586.8 hectare property is located in Uppsala County,
Sweden with road access and near infrastructure.
Grab samples are selective samples and do not necessarily indicate the mineral composition of the property. Future controlled sampling will need to be conducted.
Norrby Property Highlights:
An average assay result from 17 grab samples was 3.55 gpt Gold in a range of 12.1gpt Gold to 1.1 gpt Gold with copper-cobalt assays.
The 365.4 hectare property is also located in Uppsala County,
Sweden with road access and near infrastructure.
Grab samples are selective samples and do not necessarily indicate the mineral composition of the property. Future controlled sampling will need to be conducted.
“We are excited to get boots on the ground to evaluate this prospect, an area that has seen artisanal mining for centuries for iron and could have a new life with this discovery of 27.1 gpt gold, 5.3% TREOY and 1.44% Copper. We see a lot of demand to acquire new sources copper, and there is a need for western supply of REE; it is promising to see a deposit that could be paid by gold to open up new avenues for copper and REE,” said
The geology of Finnsbo and Norrsby are composed of a deformed sequence of felsic to intermediate pyroclastic units with zones of arenite and locally intercalated dolomitic to limestone horizons. This Palaeo-Proterozoic sequence of volcano-sedimentary rock is moderately metamorphosed, silicified and intruded by mafic dykes. Mineralization patterns suggest that the overall control is polyphase structural zones that have conducted fluids up and away from the mafic root. The mineralization is both spatially and temporarily zoned. Mineralizing fluids are highly exotic and can contain anomalous Au, Cu, REE, Be, Re, Co, Mn, In, Zn.
Option Agreement:
The non-binding letter of intent dated
The Company and Optionor shall enter into the Option Agreement whereby the Optionor shall grant to the Company the right to acquire an undivided 80% interest in and to the Property as follows:
a)Cash payment of
USD$100,000 to be paid to the Optionor, uponTSX Venture Exchange (“Exchange”) approval to the Definitive Agreement;
b)The Company incurs exploration expenditures on the Property in the amount
USD$170,000 on or before the one-year anniversary of the Definitive Agreement, to earn an undivided 80% interest in the Property;
c)Commitment to fund studies for bulk sampling permit;
d)Upon exercise of the Option by the Company, the Company grants to the Optionor a1.5% NSR on the Property. The Company retains a
$500,000 buy back on 1% of the NSR.
e)Additional 20% interest in the property can be purchased by cash payment to the Optionor of
USD$300,000 .
Qualified Person
The technical information in this news release was approved and prepared under the supervision of Mr.
About
In
The Company also has: (1) 14 battery metals properties in
Nord Precious Metal’s flagship silver-cobalt Castle mine and 78 sq. km Castle property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned
X(Twitter): https://twitter.com/nordmetals
LinkedIn: https://www.linkedin.com/company/nord-precious-metals/
Facebook: https://www.facebook.com/nordpreciousmetals/
“Frank J. Basa”
Chief Executive Officer
For further information, contact:
Chief Executive Officer
416-625-2342
or:
Corporate Communications
P: 416-710-2410
E:waynecheveldayoff@gmail.com
Neither the
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source