District Metals Corp has reported new assay results from its Svärdsjö property in the Bergslagen Mining District of south-central Sweden that showed high grades of polymetallic mineralization.
Chip sampling from the Kompanigruvan pit near the historic mine returned 37.3% zinc equivalent, comprised of 253 grams per ton (g/t) silver, 22.8% zinc, 8.6% lead, 0.1 g/t gold and 0.02% copper.
In addition, grab samples from mine dumps at the Stormyrgruvan showing and a historic pit at the Hagsfallgruvan showing included 29% zinc equivalent (133 g/t silver, 15.7% zinc, 7.8% lead, 0.1 g/t gold and 1% copper) and 18.3% zinc equivalent (58.2 g/t silver, 9.8% zinc, 7.1% lead, 0.1 g/t gold and 0.2% copper), respectively.
READ: District Metals initiates airborne surveys over its newest Swedish properties, Gruvberget and Svärdsjö
Vancouver-based District Metals told investors that Svärdsjö – which was mined for nearly 200 years until 1989 – has “excellent potential” for extensions of the known polymetallic mineralization, and for new mineralization to be discovered within the wider property.
"These assay results from Svärdsjö show very high grades of polymetallic mineralization which supports the exceptional potential of the property,” CEO Garrett Ainsworth said in a statement.
“Significant mineralization remains open beneath and southwest of the historic Svärdsjö and Kompanigruvan Mines, which represents walk up drill targets. Also importantly, numerous other historic mines and showings are strewn across the Svärdsjö property that appear to have seen little to no modern work.”
Ainsworth singled out the Stormyrgruvan showing, which returned exceptionally high silver-zinc-lead values from a mine dump rock sample, as “especially impressive” given the location and size of this showing where no records of modern exploration exist.
“We are keen to obtain the interpreted data from our recently flown SkyTEM 312 HP electromagnetic and magnetic survey at Svärdsjö, which will provide important layers of information to advance existing targets and identify new targets,” Ainsworth added.
Vancouver-based District acquired the Svärdsjö property in late 2021.
The firm is focused on advancing its flagship Tomtebo property, which comprises 5,144 hectares and is situated between the historic Falun Mine and Boliden's Garpenberg Mine in south-central Sweden.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas