District Metals Corp has announced that the final SkyTEM survey on its Svärdsjö property in Sweden has revealed five conductive targets in addition to several other magnetic high anomalies.
One of the targets in particular shows “immense potential,” according to the Vancouver-based explorer, referring to Target 3, which consists of an approximate 600 metres long conductive and magnetic high trend that extends far beyond the historic workings of the Svärdsjö Mine.
The coincident anomaly is 200 to 300 metres wide, trends southwest for over 500 metres from the historic mine workings and begins near surface with vertical extents below the SkyTEM depth penetration limit of 500 metres, the company said.
READ: District Metals reveals sample results from recently-acquired Svärdsjö property that showcase high grades of polymetallic mineralization
Another target highlighted a weak conductive anomaly that is associated with the historic Stormyrgruvan showing, where District recovered a grab rock sample in late 2021 that returned grades of 29% zinc equivalent.
Yet another target consists of two moderate-to-strong conductive anomalies that are proximal to the historic Hagsfallgruvan showing, where the company recovered a grab rock sample in late 2021 that returned 18.3% zinc equivalent.
"The SkyTEM electromagnetic and magnetic survey continues to be a highly effective first pass airborne geophysical survey to explore for polymetallic mineralization in the Bergslagen District,” CEO Garrett Ainsworth said in a statement.
“The SkyTEM survey lit up the historic Svärdsjö Mine with conductive and magnetic anomalies that extend well outside the mine workings area.”
The geophysical anomalies outside of the Svärdsjö Mine extend for over 600 metres in a northeast-southwest direction and are a high priority for follow up drilling, Ainsworth added.
The CEO also noted the two other high priority target zones on the Svärdsjö Property that are associated with conductive anomalies that returned high grade polymetallic mineralization, increasing District’s confidence in these targets, Ainsworth told shareholders.
Vancouver-based District acquired the Svärdsjö property in late 2021.
The firm believes that Svärdsjö – which was mined for nearly 200 years until 1989 – has good potential for extensions of the known polymetallic mineralization, and for new mineralization to be discovered within the wider property.
Contact Angela at angela@proactiveinvestors.com
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