First Nordic Announces Positive Top-of-Bedrock Drill Results at the Nippas Target and Prepares for Diamond Drilling Program
First Nordic Announces Positive Top-of-Bedrock Drill Results at the Nippas Target and Prepares for Diamond Drilling Program |
| [30-April-2025] |
TORONTO, April 30, 2025 /CNW/ - First Nordic Metals Corp. ("FNM" or the "Company") (TSX.V: FNM, Stockholm: FNMC SDB, OTCQB: FNMCF, Germany: HEG0) is pleased to announce base-of-till / top-of-bedrock ("BoT/ToB") drilling results and a Q2 diamond drill plan at its high-priority Nippas target ("Nippas") on the Company's 100%-owned Storjuktan project, located in Västerbotten County, northern Sweden on the Gold Line belt. Nippas is located approximately 30 km north of the Company's resource-stage Barsele project. Highlights:
FNM CEO Taj Singh comments: "Our recent BoT/ToB drilling at Nippas continues to support this area as an exciting diamond drill target and we are now preparing to mobilize a diamond drill rig here within the coming weeks. Our understanding of the overall Nippas area has grown considerably with this program and now three trends of interest have emerged. Our current diamond drilling at the Aida target, which had the objective of aggressively testing the strike extent of the gold mineralized corridor there, continues to progress well and we expect to release a first batch of results shortly." Q1 2025 Nippas BoT/ToB Results Nippas BoT/ToB drilling targeted portions of a broad 5 km gold and pathfinder surface till anomaly coincident with a complex anastomosing shear corridor, oriented NW-SE along the ice flow direction. Access was complex in some areas of the drilling program due to challenging terrain and an unusually mild winter resulting in approximately 25% of the planned holes not being drilled. Most of the Q1 BoT/ToB program targeted the central portion of the surface till anomaly and 1 km to the north and 1.2 km to the south of the identified target area remains untested. Results from the drilling were positive and encountered strongly anomalous gold mineralization in bedrock and glacial till, including: bedrock samples of 2.66, 0.84 and 0.22 ppm Au, and several more samples over 0.10 ppm; and till samples of 0.22 and 0.21 ppm Au, and several more over 50 ppb. Anomalous samples are coincident with surface till Au and As, Cu, Zn and Mo (arsenic, copper, zinc, molybdenum) pathfinder element signatures and magnetic geophysical trends interpreted to be sheared contacts between metasediment, metavolcanic, and granitic lithologies. Three sub-parallel trends have been identified with combined strike length of over 5.2 km (see Figure 1 in Appendix). These trends lie within a flexure in the regional structure and on several interpreted second order splay structures along the margin of a large granite intrusion. The complex geological and structural setting (prospective settings for dilation, fluid flow, and Au deposition) combined with the highly anomalous surface till and bedrock results make these trends compelling targets that the Company plans to imminently test with diamond drilling in Q2 2025. Nippas Diamond Drill Program Target 1 is a 2.2 km Au, As, Cu, Zn and Mo surface till anomaly coincident with strongly elevated ToB results. The anomaly is located along a geophysical trend interpreted to be the sheared contact between two lithological units. Target 1 will be initially tested with up to 3,600 m of diamond drilling in 16 drill holes over 1.4 km strike of identified structural feature. Target 2 is a parallel 2.0 km trend of anomalous surface till Au, As, Cu, Zn and Mo coincident with elevated Au bedrock (up to 0.13 ppm Au) and glacial till (up to 0.20 ppm Au) located along a geophysical trend interpreted to be the sheared boundary between metasediments and a large granite intrusion. Target 2 will be initially tested with up to 1,400 m of diamond drilling in 10 drill holes over the 1.3 km strike of the identified structural feature. The initial diamond drilling program is designed to confirm the anomalous gold in BoT/ToB results and understand size, geometry, and structural controls of mineralization within the shear corridors. Figure 1 shows the Nippas plan for the first approximately 5,000 m of drilling in 26 holes. Planning for additional meters will occur as drilling progresses and results are received. About the Nippas Target About the Storjuktan Project The Project contains over 60 km of the regionally significant "Gold Line" structure which can be traced for over 200 km in regional geophysics data. The Gold Line was first recognized in the late 1970s as a large arsenic-in-soil anomaly formed by a regional fault. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring either in the main shear corridor or on perpendicular structures within a few km of the main structures. The geology of the Storjuktan project consists of a sequence of inverted basin sediments and mafic volcanic rocks intruded by small syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. The rocks are regionally metamorphosed to amphibolite facies and gold mineralization is associated with intense biotite, and calc-silicate alteration assemblages and sulphide minerals pyrrhotite, arsenopyrite, and minor other sulphides. These lithological sequences are highly prospective for orogenic gold deposits. ABOUT FIRST NORDIC METALS First Nordic Metals Corp. (FNM) is a Canadian-based gold exploration company, consolidating assets in Sweden and Finland, with a vision to create Europe's next gold camp. The Company's flagship asset is the Barsele gold project in northern Sweden, a joint venture project with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a district-scale license position comprised of two additional project areas (Paubäcken, Storjuktan), which combined with the Barsele project, total ~100 km of strike coverage of the Gold Line greenstone belt. Additionally, in northern Finland, FNM is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt. ON BEHALF OF THE BOARD OF DIRECTORS Qualified Person Follow First Nordic Metals: Cautionary Note Regarding Forward-Looking Statements: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that they will materialize or that the assumptions on which it is based are correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of the date of this press release and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.
SOURCE First Nordic Metals Corp. | ||
Company Codes: TorontoVE:FNM, OTC-PINK:FNMCF, Berlin:HEG0, OTC-BB:FNMCF |
