District Metals Corp. (TSX-V:DMX) said its 100%-owned Swedish subsidiary Bergslagen Metals AB has received approval from the Bergsstaten (Mining Inspectorate) for the Viken nr 2 and 3 license applications, increasing the area of its polymetallic Viken Deposit in central Sweden.
"The Viken Property now comprises three large mineral licenses (Viken nr 1 to 3) that are in good standing for the next three years and cover the majority of the polymetallic Viken Deposit and its likely extensions to the north and south as evidenced by historic drill hole results,” said District CEO Garrett Ainsworth in a statement.
The approved license applications have increased the area of the Viken property from 2,302 hectares (ha) to 9,367 ha.
District said with the expansion that it will be able to target Alum Shale which has been tectonically thickened from 20 to 30 metres (m) by thrusting and folding up to 180 m.
Historic drilling within the areas of the new mineral licenses returned grades and widths of mineralization consistent with drill results from within the Viken Deposit, the company noted.
District Metals is a polymetallic exploration and development company focused on the Viken and Tomtebo properties in Sweden.
According to the company, the Viken Deposit is the largest undeveloped Alum Shale vanadium-uranium-molybdenum-nickel-copper-zinc deposit in Sweden, and amongst the largest deposits by total historic mineral resources of vanadium and uranium in the world.
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