The Gumsberg project is located 30 kilometers south of the historic Falun Mine (Zn-Pb-Cu-Au) and 30 kilometers west of Boliden’s Garpenberg Mine (Zn-Pb-Cu-Au-Ag). In late 2016 the Gumsberg project was acquired by Boreal Metals Inc., (BMC) (subsequently renamed to Norden Crown Metals, “NCM”). EMX holds an equity ownership in NCM plus an uncapped 3% NSR on the property. See Company news release dated November 22, 2016 for more details. Gumsberg covers over 18,000 hectares in the Bergslagen mining district of Sweden, one of Europe’s oldest mining districts. Multiple historic mines within the Gumsberg project area were developed on Volcanogenic Massive Sulfide (VMS) style mineralization, including the Osträsilvberg mine, one of Sweden’s key silver producers in medieval times. Other historic mines within the project area were operated in the 1800’s and early 1900’s, targeting lead, zinc, and copper-rich VMS mineralization. Limited exploration drilling at Gumsberg was conducted in the 1930’s, 1950’s and early 1970’s, when VMS deposit models were still poorly understood. Little to no exploration has been conducted in the past 40 years.
New geologic interpretations, geophysical surveys and reconnaissance drilling by Norden Crown and partner EMX have led to the identification of multiple exploration targets, near the historic workings and elsewhere on the property. Ongoing drill results demonstrate that multiple horizons of exhalative VMS style mineralization are present in the stratigraphy and contain interbedded zones of replacement style mineralization.
EMX congratulates NCM with its continued success at Osträsilvberg with several holes intersected variable widths of massive sulphides with significant high grade precious and base metal mineralization.
EMX also congratulates NCM with its new drilling discovery at Fredriksson Gruva. The objective of the drill program at Fredriksson Gruva was to demonstrate that mineralization continues beneath the historical mine workings, which extend to 91 metres below surface. The program was also designed to confirm historical silver-zinc-lead grades, thicknesses, and to test the continuity of this mineralization. Holes GUM-20-09 and GUM-20-10 are positioned 30 meters down plunge of the historical underground workings and are spaced 40 meters apart. Hole GUM20-11 is 30 meters below GUM-20-10 (60 meters below the historical workings).
An important aspect of the mineralization is that the massive to semi-massive sulfide intervals are developed within a broader sequence of highly magnetic iron and manganese-rich chemical sediments. This distinctive and thick sequence of chemical sedimentary rocks will provide an important marker horizon that will be used to track the mineralization along strike and at depth. Future diamond drilling at Fredriksson Gruva will continue testing the continuity of Broken Hill Type (“BHT”) style massive sulfide mineralization and associated iron formation below the historical mine workings where ongoing 3D geological modeling demonstrates that silver zinc-lead mineralization extends to at least 290 meters in depth. For more information and drill results, please visit the Norden Crown website.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization.