District Metals Corp (CVE:DMX) (FRA:DFPP) said Thursday it had received “valuable information” about its Tomtebo project through a successful field work program at the Swedish property.
The firm told shareholders that it identified strongly altered and mineralized rocks along the southern portion of the historic Tomtebo mine for at least 600 metres, with all rocks within the two Tomtebo open pits appearing to be strongly altered with sulphide mineralization occurrences.
Mineralization seen at the Tomtebo open pits confirms the location as proximal feeder zones, according to the company.
READ: District Metals kicks off extensive field work program at its flagship Tomtebo property in Sweden
Vancouver-based District Metals is undertaking fieldwork at Tomtebo after recently completing a SkyTEM survey across the property and analyzing historic data to gain a stronger picture of the geology of the project.
CEO Garrett Ainsworth expressed pleasure with the results so far.
"Our preliminary geological work at the former Tomtebo Mine and regionally across the Tomtebo Property has provided us with valuable information that is being integrated with existing historical data and our recently flown SkyTEM survey to generate an even more robust understanding of the geologic package on the property,” Ainsworth said in a statement.
“Surface mapping of the open pits at the Tomtebo Mine has provided geological data that correlates well with the historic drill data, and provides additional confidence in the orientation of structures and mineralization at the Tomtebo Mine. Also, geological work on several regional areas within the property identified and confirmed important indicators that have enhanced the possibility of discovering additional polymetallic mineralization."
Exploration at Tomtebo revealed several significant similarities to other large, world-class polymetallic deposits in the wider Bergslagen mining district, including the presence of tremolite skarn and mineralized marble horizons on the property.
District Metals is preparing a 5,000-metre drill program planned for early 2021.
Shares of District were up nearly 11% in Toronto on Thursday afternoon at C$0.40.
--Updated with share information--
Contact Angela at firstname.lastname@example.org
Follow her on Twitter @AHarmantas