Tomorrow should be exciting!!Biggest % gain on the venture and 3rd largest volume today. Up 116% today with a bit of profit taking end of the day. Drilling results soon. We won’t stay under .10 for long. The float here is also reasonable at about 50 million shares. Today’s news below.
Norden Crown Metals completes Burfjord drill program
2022-09-20 16:40 ET - News Release
Mr. Patricio Varas reports
NORDEN CROWN COMPLETES SUMMER DRILLING EXPLORATION PROGRAM AT THE BURFJORD COPPER-GOLD PROJECT, NORWAY
Norden Crown Metals Corp. has completed a 3,499.4-metre diamond drilling program at its 100-per-cent-owned Burfjord copper project in partnership with Boliden Mineral AB in northern Norway. The primary objective of the drill program was to evaluate the copper-gold grade and continuity of newly established targets within areas of extensive historical mining and trenching.
Norden Crown intersected previously untested iron oxide copper gold (IOCG) style copper mineralization, which, subsequently, became the focus of the drilling program. Norden Crown is excited to share the assay results in the coming months.
Norden Crown simultaneously completed a 6,800-sample soil survey, a three-week geological and structural mapping campaign, and borehole electromagnetic geophysical surveys during the exploration program.
Previous drilling by Norden Crown (see the news release dated March 20, 2019) at Burfjord returned compelling results including an intercept of 32 metres averaging 0.56 per cent copper and 0.26 g/t (gram per tonne) gold (including 3.46 metres of 4.31 per cent copper and 2.22 g/t gold) below a cluster of historical mine workings at the Gamlegruva target area. Previous drilling confirmed presence of high-grade carbonate-jasper-magnetite-chalcopyrite-bornite veins cutting through pervasively magnetite-albite altered gabbro with broad mineralized zones within carbonate-magnetite-chalcopyrite stockworks and breccias enveloping these high-grade veins, under the historical workings. Historical drilling on the project (Cedarsgruven) was reported to have returned seven metres averaging 3.6 per cent copper.
Patricio Varas, chairman and chief executive officer of Norden Crown, stated: "The joint Norden-Boliden exploration team has made significant advancements at Burfjord this summer. The approach was to carry out an integrated exploration program employing an excellent team to carry out diamond drilling, geological mapping, geochemical sampling, and borehole geophysics to build a full, multidisciplined, picture of the prospectivity around so many of the copper and gold-bearing workings. The programs were optimized using a dynamic exploration workflow with follow-up and new target drill testing resulting from new insights around the multiple targets during this program. We await with excitement to receive the analysis from a number of core samples that will surely confirm highly indicative copper results, particularly in the Gamlegruva prospect area, where typical IOCG mineralization was confirmed. Plans are already being formulated to carry out a follow-up drill program in the winter and we look forward to using the new data and knowledge gained from the various surveys to confirm and test mineralization of economic importance."
Diamond drilling
Norden Crown completed 3,499.4 metres of diamond drilling in 18 drill holes designed to test a combination of geological, geochemical, and geophysical targets identified from 2020 and 2021 field programs. Drilling commenced on July 4 and finished on Sept. 4, 2022. All exploration staff and contractors have now demobilized from site and a small road remediation operation is under way.
Most of the drilling this year has focused on the Eastern Limb of the Burfjord anticline (Gamlegruva and A-Gruva target areas), which constitutes an approximately-five--kilometre-long trend of discontinuously outcropping copper occurrences and historical mine adits that contain copper sulphide mineralization (chalcopyrite and bornite) associated with magnetite-hematite-jasper-bornite-chalcopyrite veins and carbonate-magnetite-chalcopyrite vein stockworks and breccias, hosted in sodic and potassic altered pillow basalts and gabbros.
Holes at Gamlegruva tested a gabbro unit associated with a magnetic feature and surface copper bearing vein stockworks. Hole BUR-22-012 intersected several significant magnetite-jasper-hematite-bornite-carbonate-chalcopyrite veins and adjacent zones of carbonate-magnetite-hematite-quartz-chalcopyrite vein stockwork and breccias.
Follow up drill holes (BUR-22-013 and BUR-22-017) were completed to test the down dip and along strike (northward step outs up to 130 metres) continuity of mineralization intersected in BUR-22-12. These drill holes confirmed the continuity of significant IOGC style copper mineralization within a pervasively magnetite-albite altered gabbro unit.
The magnetic feature associated with newly intersected IOCG mineralization extends southward and continues under the Caledonian nappe complex and northwards along the host gabbro unit. Additional drilling is required to test this target at depth.
The first batch of samples from the program is currently being assayed with results expected in the coming weeks. The final batch of samples is now at the assay laboratory and Norden Crown looks forward to sharing the results of this drill program in the coming months. Planning is already under way to continue building on the newly discovered copper mineralization at Gamlegruva.
Geological mapping
A total of three weeks of geological mapping has been completed at Burfjord in 2022. Mapping focused on tracing the surface expression of the copper mineralized vein trend intersected in BUR-22-012 and follow up drill holes.
Several discontinuously outcropping magnetite-hematite-jasper-chalcopyrite-bornite and carbonate-magnetite-chalcopyrite-quartz veins (up to 1.5 metres wide) with halos of ankerite-jasper-magnetite-chalcopyrite stockwork were identified along a trend which extends the zone along strike for at least 450 metres north of the newly identified mineralized trend at Gamlegruva. This significantly increases Norden's confidence in the target, which will be a focus for drilling in Q1 2023.
Furthermore, mapping across the eastern limb has been completed with the aim of collecting structural data on copper-bearing veins. The information compiled from the geological and structural mapping program is being fed into the GIS database in order to improve the current geological modelling and technical understanding of the target areas and will aid with the planning of exploration programs and drilling envisioned for the 2023 winter.
Borehole geophysics
Geophysical surveys were conducted between July 22 and Sept. 7 on boreholes drilled between 2018 and 2022. Fourteen drill holes were surveyed with downhole electromagnetics, furthermore, 14 drill holes were also surveyed with an optical televiewer and petrophysical surveys were carried out on 15 drill holes.
Preliminary results from the borehole electromagnetics have identified two significant off-hole conductive features at the Gamlegruva target area. These results are being evaluated to place these features in a geological context based on previous mapping and drill hole data.
Optical televiewer data have been collected and processed and is currently being interpreted. These data will be used to establish the orientation of copper mineralized veins and to further constrain the three-dimensional geometry of the target areas.
Petrophysical survey data is being processed, which will be used to refine magnetic models at Burfjord to highlight regions of increased mineralized fluid flow.
Soil sampling
A total of 6,800 soil samples were collected over the Burfjord licences this summer. Grids were planned with 20-metre sample spacing and line spacing of 100 m between east-west lines.
An orientation soil survey consisting of 2,400 samples over an area of 5.1 square kilometres was completed between July 1 and July 15 over the Kisgangen target area to test the suitability of the exploration method at Burfjord. Several anomalies were identified over known copper occurrences and the survey was consequently expanded between Aug. 5 and Aug. 15 over the northern licence area. An area of 9.5 square kilometres was covered with the collection of an additional 4,400 samples, encompassing the Cedarsgruven and Magnusgruven target areas, which have seen little-to-no modern exploration.
Samples are currently being analyzed and preliminary results will be used to guide the planning of follow up drilling. Anomalies will be evaluated and ranked in advance of follow-up drill targeting at the various target zones including Cedarsgruven, where 2021 drilling returned 12 metres averaging 1.27 per cent Cu in hole BUR-21-011 (see the news release dated April 11, 2022). Magnusgruven has not yet been drill tested.
Overview of the Burfjord project
The project, located in the Kafjord copper belt near Alta, Norway, is highly prospective for iron oxide copper gold and sediment-hosted copper mineral deposits, which contribute significantly to copper production globally.
Burfjord comprises six exploration licenses totalling 5,500 hectares. Within the license area, during the 19th century, copper mineralization was mined from over 30 historical mines and prospects developed along the flanks of a prominent four-kilometre-by-six-kilometre anticlinal fold consisting of interbedded sedimentary and volcanic rocks. Many of the rocks in the anticline are intensely hydrothermally altered and contain sulphide mineralization.
The high-grade copper gold veins at Burfjord, that were historically mined at cut-off grades of 3 to 5 per cent copper, 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 believes 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 multicentimetre scale) disseminations in the veins.
Burfjord joint venture terms
Norden Crown entered into an option agreement with Boliden in respect to Burfjord (see the June 10, 2020, news release). In order to earn its 51-per-cent interest in the project, Boliden must finance 100 per cent of the exploration programs by spending $6-million over the next four years. Work on the exploration programs is directed by a joint Norden Crown-Boliden technical committee.
Qualified person
Daniel MacNeil, PGeo, a qualified person, as defined by National Instrument 43-101, has read and approved all technical and scientific information related to Burfjord contained in this news release. Mr. MacNeil is vice-president of exploration for Norden.
About Norden Crown Metals Corp.
Norden Crown is a mineral exploration company focused on the discovery of zinc, copper, silver, gold, cobalt and nickel deposits in exceptional, historical mining project areas spanning Sweden and Norway. The company aims to discover new economic mineral deposits in known mining districts that have seen little-or-no modern exploration. The company is led by an experienced management team and technical team, with successful records in mineral discovery, mining development and financing.
We seek Safe Harbor.