The Nianfors mineral licenses are in good standing for a three-year term that ends on
Nianfors Property Highlights: Mineral license Nianfors nr 2 contains the Majsaberget uranium-yttrium-molybdenum occurrence that consists of 889 mineralized boulders over an approximate area of 500 m by 200 m1.
Assay results from the Majsaberget mineralized boulders returned a weighted average of 0.16% U3O8 and 0.08%
The Majsaberget Occurrence was historically estimated to host at least 12,998,896 lbs U3O8 grading 0.07 to 0.14% U3O84. This historical exploration target estimate is based on a 1985 Report by the SGU, and the Company is not treating it as a current mineral resource estimate nor is the Company aware of any more current estimate. The potential quantity and grade is conceptual in nature, as there has not been sufficient exploration to define the target at this time and it is uncertain that further exploration would result in the definition of a current resource.
A moratorium on uranium mining and exploration in
The two styles of mineralization at Nianfors are very similar to what we have seen at our Sagtjarn Property, which makes the historical exploration target estimate at Nianfors very exciting. No known exploration work has been carried out at Nianfors since the early-1980's, which makes it an ideal energy metals property to unlock using modern exploration techniques such as detailed UAV (drone) radiometric and magnetic surveys. In addition, recent forest clear cuts on the Nianfors Property has made for excellent access.'
Background
The Nianfors mineral occurrences were discovered in 1980 during follow-up work of airborne radiometric anomalies by the
The Nianfors Property and surrounding area is dominated by Proterozoic meta-sedimentary rocks which have experienced upper amphibolite metamorphic grades, forming porphyroblasts of cordierite, sillimanite and garnets. The meta-sedimentary rocks have been intruded by younger uraniferous meta-granite and meta-pegmatites. The two types of mineralization identified include neosome-pegmatite hosted which averages 0.07 to 0.09% U3O8, and impregnation mineralization within meta-sedimentary rocks which averages 0.14% U3O84.
The Majsaberget occurrence appears to be the most prospective and includes 889 mineralized boulders that cover an area of 500 m by 200 m. Assays from the Majsaberget boulder field returned a weighted average of 0.16% U3O8 and 0.08%
Several mineralized outcrops were also found at the Majsaberget occurrence. In the largest of the outcrops, the mineralized zone dips vertically and has a width greater than 4 m where historic assays returned 0.27% U3O8 and 0.1% Y.
Mapping of outcrop at the Majsaberget Occurrence generated a historical exploration target estimated to host at least 12,998,896 lbs U3O8 grading 0.07 to 0.14% U3O84. This historical exploration target estimate is based on a 1985 Report by the SGU, and the Company is not treating it as a current mineral resource estimate nor is the Company aware of any more current estimate. The potential quantity and grade is conceptual in nature, as there has not been sufficient exploration to define the target at this time and it is uncertain that further exploration would result in the definition of a current resource.
Additional work including geophysical surveys and diamond drilling was highly recommended in a 1984 report by the SGU, but was never conducted at the Majsaberget occurrence3. No exploration work has been conducted on the Nianfors Property for approximately 40 years, and no modern exploration techniques including geophysics and multi-element sampling (including lithium or other REEs) has ever been conducted.
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by
The data disclosed in this news release is related to historical results. District has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. District considers these historical results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
About
District is a polymetallic exploration and development company focused on the
The advanced exploration stage Tomtebo Property is located in the
For further information on the Tomtebo Property, please see the technical report entitled 'NI 43-101 Update Technical Report on the
Contact:
Tel: (604) 288-4430
Cautionary Statement Regarding 'Forward-Looking' Information.
This news release contains certain statements that may be considered 'forward-looking information' with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'is positioned', 'estimates', 'intends', 'assumes', 'anticipates' or 'does not anticipate' or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur' or 'be achieved' and any similar expressions. In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking statements in this news release relating to the Company include, among other things, statements relating to the Company's Nianfors Property to explore for copper, zinc, molybdenum, yttrium and other rare earth elements (REEs) located in the Gavleborgs County, central
These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news release, including, without limitation, assumptions about the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen district and in respect of the Nianfors Property; that the Swedish government will eventually lift or amend its moratorium on uranium mining in
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data on
All scientific and technical information contained in this news release has been prepared by or reviewed and approved by
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