District Metals Corp. (TSX-V:DMX) has announced an exploration program to be completed by the end of the year at its Bakar property located on Northern Vancouver Island, British Columbia.
Previous exploration work in 2020 and 2021 identified the high-priority Elephant Crossing (EC) target, which comprises a coincident VTEM (versatile time domain electromagnetic) anomaly (1.5 kilometers to 0.5 km) and ZTEM (z-axis tipper EM) anomaly (4.5 km by 0.8 km), along with two rock chips that returned 0.49% copper and 4.13% copper.
Discovery of the EC target led District, which operates a joint venture covering the Bakar property with Sherpa II Holdings Corp, to approve an 800-meter (m) drill program in two holes. The company submitted an application to the BC Ministry in November 2021, but unforeseen delays have pushed the approval process back to the first quarter of 2023, the company said.
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As a result, the company reallocated its exploration budget toward conducting additional airborne geophysical and geochemical surveys at the Bakar property that do not require an exploration permit.
The planned airborne geophysical survey will comprise VTEM and magnetics over areas not previously flown, and the geochemical survey will comprise glacial till sampling over and down-ice from the EC Target.
"We are very disappointed that we have not received our permit approval in time to drill the EC target on our Bakar property before the end of 2022,” CEO Garrett Ainsworth said in a statement. “However, the additional geophysical and geochemical surveys that we have planned at the Bakar property will provide us with useful exploration data that will advance our understanding of the EC target, and potentially develop new drill targets along trend from the EC target."
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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