District Metals Corp (CVE:DMX) (OTCMKTS:MKVNF) (FRA:DFPP) announced a drilling contract with Hy-Tech Drilling Sweden AB for an upcoming drill program at its flagship Tomtebo project in Sweden.
The junior company is planning to drill a minimum of 5,000 metres (m) at the polymetallic project in an effort to confirm and expand the mineralization at the historic mine.
Drilling is expected to start in late February or early March, according to a statement from the Vancouver-based company.
READ: District Metals appoints Hein Raat as country manager for Sweden in run-up to start of polymetallic project drilling
Hy-Tech Drilling is a major player in Sweden’s diamond drilling industry and has worked on Lundin Mining Corp’s (TSE:LUN) (OTCMKTS:LUNMF) (FRA:GXD) large Zinkgruvan mine in the country.
District is using modern exploration tools on the historic Tomtebo property, which has seen little in the way of today’s technology on the property. Hy-Tech will use a TECH 5000 track-mounted rig capable of drilling to depths of 2,000m with NQ and 1,000m with HQ. All of the planned drill holes with have their collars located with a Differential Global Positioning System (DGPS) before drilling starts to make sure that targets are optimally pierced, and the contractor will conduct downhole orientation surveys with a non-magnetic and north-seeking gyro tool and drill core will be oriented to better understand the framework of mineralization at Tomtebo, according to District.
In addition, borehole electromagnetic surveys (BHEM) will be conducted on all of the completed drill holes, which District said was never done on any of the historic holes. BHEM will help to identify and understand conductive bodies and can be combined with District’s SkyTEM data flown on the property in July 2020.
“We are very pleased to have retained Hy-Tech to complete a minimum of 5,000m of core drilling on our Tomtebo property,” District CEO Garrett Ainsworth told investors in a statement. “Our drill permitting has gone exceptionally well thus far, and we are on track to commence drilling in line with our original forecast."
Separately, District said it granted 50,000 stock options exercisable at C$0.45 per share to a consultant of the company. All stock options have a term of five years and vest on the grant date of January 15, 2020.
Contact Angela at angela@proactiveinvestors.com
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