Is Sweden hosting the next Broken Hill Type World Class Depos …
(MENAFN- Baystreet.ca) Is Sweden hosting the next Broken Hill Type World Class deposit?
In mining circles, certain words and phrases are understood to have sacred grail undertones. There may not be a better example than the ore deposit at the Broken Hill mine in New South Wales, Australia. The largest known accumulation of lead, zinc and silver mineralization on the planet (~ 280 million tons @ 10% Pb, 8.5% Zn and 148 g / h Ag) has been abbreviated BHT (Broken Hill type), with the explorer world over looking for the rare type of mineralization and the riches it may contain.
And an upstart seems to have found BHT mineralization about 15,000 miles from Broken Hill.
Norden Crown Metals Corp. (TSX-Venture: NOCR) (OTCQB: NOCRF), a company with a market capitalization of only USD 7 million, is aggressively investigating, mapping and drilling its 100% owned Gumbsberg project in Bergslagen’s mining district in the southern part of the country. Sweden with results that show that it really is a BHT deposit. Norden Crown acquired the project in 2016 from the royalty streaming company EMX Royalty Corp. (NYSE: EMX), which owns 10.79% of the Nordic region and has an unlimited 3% net return royalty for the smelter on future production in Gumbsberg.
A BHT discovery in Sweden is not as big a surprise as you might think. Sweden has a long and distinguished history of metal mining that stretches back more than 1,000 years and is still, without a doubt, the largest iron ore producer in the European Union today, while being ranked among the leading manufacturers of base and precious metals. Speaking of the quality and continuity of mineralization, Sweden produces this production from only 12 active metal mines.
Gumbsberg, an extensive project covering more than 18,300 acres (183 square kilometers, or slightly larger than Washington, DC), is located in a district with dozens of historic mines and a mining history dating back to the Middle Ages when the Östrasilverberg mine dominated for centuries as the largest the silver mine in Europe.
Although progress was made during the Middle Ages to take mines deeper than ever before, the mines still did not go deep compared to today and the process of following the mineralization was archaic, with tunnels tending to meander. The Nordic region has brought the latest technology to Gumbsberg, which has identified several mineralization zones for priority targets. For example, at the Frederiksson goal, 2021 exploration included drilling, geological mapping, sampling and a high-resolution magnetic geophysical survey.
Analyzes from last year showed up to 13.60 meters of 6.05% Zn, 1.39% Pb and 43.20 g / h Ag. Other sections were similar, such as 10.35 meters with 5.24% Zn, 1.84% Pb and 43.85 g / h Ag and 8.15 meters at 3.83% Zn, 0.503% Pb and 18.13 g / t Ag.
This new data in combination with historical data is the position for generating 3D models of the mineralization at the Fredriksson target, which the Nordic management believes takes place within a massive magnetic anomaly that extends over 21 kilometers at Gumbsberg.
“Broken Hill Type deposits have the potential to yield large tonnages from comparatively small drill footprints due to the high density of mineralization,” said Patricio Varas, President and CEO of Norden Crown, in a press release last year. That says a lot about what could be worthwhile in a big anomaly like Frederikksons, let alone the other goals and the complete Gumbsberg project.
There can be a few things about significant discoveries and mining development. During his 35+ years in the mining industry, he has many achievements behind him. These include the founding of Western Potash Corp. (discovered and developed the world-class Milestone Mine in Saskatchewan), was part of the discovery of the Santo Domingo Sur copper gold deposit in Chile and worked as a project manager for Kennecot Canada during the discovery of Diavik’s diamond mine.
When it comes to copper and gold, Varas will look for a repeat there with the Nordic Burfjord Copper-Gold Project in northern Norway where a 9-hole 2,208 meter drilling program was completed late in 2021 together with geophysics work to find new drilling targets for this year.
Shares in Norden Crown Metals are back on the rise after a recent decline that gives technical traders as well as long-term fundamental investors a potentially attractive starting point, especially when the company announces further updates on their Gumbsberg project.
MENAFN13012022000212011056ID1103535499
Disclaimer: MENAFN provides the information “as is” without guarantees of any kind. We accept no responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality or reliability of the information in this article. If you have any complaints or copyright issues related to this article, please contact the provider above.