VANCOUVER, BC, Dec. 16, 2024 /CNW/ – First Nordic Metals Corp. (the “Company” or “FNM”) (TSXV: FNM) (OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the commencement of a top-of-bedrock drilling program (also known as base-of-till drilling (“BoT”)) on its 100%-owned Nippas target (“Nippas”) located in the Storjuktan project area (“Storjuktan” or the “Project”) of the Gold Line Belt, northern Sweden.
Taj Singh, FNM CEO comments: “The Nippas target currently being tested represents an extensive gold and pathfinder element till anomaly on the Storjuktan project, located 28 kilometres north of our resource-stage Barsele project. Nippas is located on a second order splay structure within the Gold Line structural corridor in a setting ideal for large orogenic gold deposits. BoT drilling is the most effective method of targeting potential new discoveries through glacial till cover and has already proven fruitful at our Paubäcken project’s Aida discovery further south. This BoT program sets us up well for diamond drilling Nippas in 2025. On the back of our recent financing, we are now fully funded for aggressive drilling on multiple multi-kilometric targets on the Gold Line through 2025.”
Nippas Exploration Program
The current Nippas BoT drilling program is designed to investigate bedrock sources of a >5 kilometre (“km”) by 250 metre (“m”) wide historic Au-As-Cu-Zn (gold-arsenic-copper-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 4 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). Analysis of recently acquired UAV magnetic geophysical data (interpretation ongoing) has identified a second order structural corridor that is parallel to the gold and pathfinder anomaly that will be targeted in the drilling campaign. Historic BoT and diamond drilling campaigns completed near the Nippas target have not focused on the main anomaly area identified recently by FNM.
BoT drilling is an efficient exploration technique in glaciated terrains that provides high-quality geological data and allows direct analysis of underlying bedrock lithologies which have the potential to host mineral deposits. This technique reduces costs significantly compared with conventional reverse circulation or diamond drilling, has a small environmental footprint, and increases the success of identifying potential mineral deposits. It is a critical step in the exploration workflow when exploring under shallow cover, bridging surface surveys and deeper, more targeted drilling programs.
About the Nippas Target
The Nippas target is located in the Storjuktan project area 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 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
CEO and Director
Qualified Person
Benjamin Gelber, P. Geo., VP Exploration 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 contains forward-looking statements. 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.
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