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District Metals releases new 3D modeling of Tomtebo property, setting the stage for 2021 drill program

The Leapfrog 3D model outlined 33 polymetallic mineralized areas within four zones based on drill assays and historical drill holes

District Metals Corp. -
District plans to use the model to prioritize targets for a planned drill program at the historically producing property in early 2021

District Metals Corp (CVE:DMX) revealed the results of its Leapfrog 3D modeling of mineralized zones at the Tomtebo property in Sweden on Wednesday, setting the basis for an upcoming drill program.

The modeling outlined 33 polymetallic mineralized areas within four zones based on drill assays and historical drill holes, the company said in a statement.

District said it will use the model to prioritize targets for a planned drill program at the historically producing property in early 2021.

READ: District Metals says initial field work at Tomtebo reveals several similarities to world-class deposits in the Bergslagen mining district

Also in the 3D model, the majority of mineralized zones appear to extend from surface down to 200 metres (m), with high grade copper-gold dominant mineralization in the feeder zone to high grade silver-zinc-lead dominant mineralization in the distal zone.

The Leapfrog 3D model outlined polymetallic zones on the historically producing Tomtebo property

Three zones on the property trend southwest to northeast for around 710m, with another zone trending west to east for around 240m. The southwest to northeast trend shows continuity of high-grade mineralization, providing “excellent potential” for significant mineralization at depth and along strike, according to the company.

Also, the modeled mineralized zones at the Oscarsgruvans and Steffenburgs zones support drilling at 50m centres that have the potential to develop an NI 43-101 resource, the company said in a statement.

Historical drill intercepts at the property, while non-43 101-compliant, include 4.7m at 1,087 grams per ton (g/t) silver equivalent or 28% zinc equivalent and 16.2m at 535.7 g/t silver equivalent or 13.8% zinc equivalent, and 3.6m at 4% copper and 4m at 11.8% copper.

"The Leapfrog 3D modeling of polymetallic mineralization at the former Tomtebo Mine has confirmed priority drill targets, and has set our course towards potentially developing a mineral resource through confirmation, infill, and step-out drilling,” District CEO Garrett Ainsworth said in a statement.

The data will be essential in targeting mineralization below the 200m level exploration drift where polymetallic ore is currently productively mined at depths of 1,400m at the Garpenberg Mine by Boliden, and 1,300m at the Zinkgruvan Mine by Lundin Mining, Ainsworth told shareholders.

“In conjunction with our recent geological work and SkyTEM conductive and magnetic anomalies at the Tomtebo Mine, the drill targets and subsequent potential are nothing short of incredible,” the CEO added.

New board member

Also in Wednesday’s statement, District said it had appointed mining engineer Jonathan Challis to its board of directors, replacing Anna Ladd-Kruger, who will continue as a strategic advisor to the company.

Challis has over 30 years of experience working on mining projects around the world. In addition to his engineering background, the new board member has worked on the capital markets side as a mining analyst with companies like CM Oliver.

District granted Challis 300,000 stock options priced at C$0.33 per share for a five-year term under the firm’s stock option plan.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: District Metals Corp.

Price: 0.415 CAD

Market: TSX-V
Market Cap: $31.34 m

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District Metals identifies numerous anomalies through airborne survey as...

District Metals (CVE: DMX) CEO Garrett Ainsworth joined Steve Darling from Proactive with news the company received positive results from an airborne survey flown over their Tomtebo Project. Ainsworth shares with Proactive some of the results and he has also discussed the next steps...

on 9/12/20

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