ANCOUVER, Oct. 20, 2020 - Norra Metals Corp.
(the "Company") (TSX-V: NORA) (FSE: 1K0), a junior exploration company focused on unlocking mineral wealth in Norway, is pleased to provide project updates for its 100% owned Bleikvassli and Meråker projects.
The Company's Bleikvassli project consists of six contiguous exploration licenses encompassing 6,000 hectares and includes the past producing Bleikvassli mine. Operations at Bleikvassli began in 1957 and lasted until 1997, producing in total more than five million tonnes of zinc-copper-lead-silver ore.
This large strategic land package offers significant exploration potential through both brownfield targets within and around the historic mine area as well as numerous areas across the exploration licenses that support prospective geology and mineralized surface anomalies. The project benefits from excellent infrastructure including paved roads and rail access as well as a nearby labor force located 50 kilometers away in the industrial mining town of Mo-I-Rana, which provides access to a deep water port and regional airport.
Norra originally acquired the project from EMX Royalty Corp. (TSX.V: EMX) in late 2018 (see press release dated December 13, 2018). Since closing the acquisition, Norra's technical team has completed a significant amount of work to prepare the project for a Phase I exploration program. To date, the Company has conducted a comprehensive review of available historic data for the Bleikvassli mine and incorporated it into a Leapfrog 3D geological model that compiles both historic assay data from over 650 drill holes as well as outlines underground workings and the previously mined areas of the deposit. These efforts have allowed the Company to gain a better understanding of structural controls on mineralization in and around the Bleikvassli mine area.
Additionally, the Company has identified three high-priority drill target areas at the north and south end areas of the historic mine area as well as at depth underneath the main area of historic mining. The Company is currently finalizing plans to conduct a 5-10 diamond drill hole campaign totaling 1,500-meters to test these targets.
Mineralization at Bleikvassli consists of lenses of Zn-Cu-Pb-Ag massive sulphide mineralization which locally grade into more copper and gold-rich compositions. Mine workings span several levels and extend across 25 kilometers of drifts, raises and shafts.
According to the Norwegian Geological Survey (NGU), historic resources remaining at the time of the mine closure totaled 720,000 tonnes grading 5.17% Zn, 0.27% Cu, 2.72% Pb, 45g/t Ag, 0.2g/t Au. The Company cautions that it is not aware of the key assumptions, parameters or methods, including data verification techniques used by the NGU to prepare these historic estimates and has not performed sufficient work to verify these published resource numbers and therefore is not treating the historical estimates as current mineral resources. For more information please reference the N.I. 43-101 technical report titled "2019 Technical (NI43-101) Report on the Bleikvassli Property" dated March 4, 2019 and available at www.sedar.com under the Company's profile page or on Norra's website.
The Meråker project comprises 21 contiguous mineral licenses totaling 20,000 hectares. It is located 100 kilometers north of the prolific Røros mining district where more than 30 million tonnes of copper-rich VMS material have been mined.
Historic mining within the Meråker project boundaries, dates back more than 200 years and numerous mines produced copper continuously until the early 1900's. The most significant reported production originated from the Lillefjell deposit, which historic records suggest produced 110,000 tonnes of mineralized material grading 5% copper and 4.5% zinc, were extracted.
The Norwegian Geological Survey (NGU)'s databases of surface rock samples and mineral occurrences both record an abundance of mineralized locations scattered throughout the property, with economically significant values of copper, zinc, gold and silver at multiple locales. The project is accessible via well maintained roads from the village of Meråker in central Norway. Nearby supplies, labor and an international airport are accessible in the city of Trondheim located to the west.
Based on data compilation and site visits, the Company believes that Meråker represents an attractive exploration target that justifies additional work. Specifically, the Lillefjell, Mannfjell and Fonnfjell showings are all subjects of historic volcanogenic massive sulphide (VMS) production by small-scale miners. Rock and chip sampling by Norra consultants during site visits in 2018 identified very anomalous levels of zinc, copper and gold.
The Company is now planning a multi-phase exploration program that will include additional field visits for reconnaissance sampling and geological mapping that will be followed up by a diamond drill program to test high-priority targets.
For more information please reference the NI43-101 technical report titled "2019 Technical (NI43-101) Report on the Meråker Property" dated February 27, 2019 and available at www.sedar.com under the Company's profile page or on Norra's website.
According to the Fraser Institute, Norway is ranked as one of the world's top mining jurisdictions and is host to tremendous mineral endowment and potential. The Scandinavian country represents a safe and stable mining jurisdiction with supportive mining policies. With a deep history and culture tied to mining, Norway offers access to a skilled labor force, low cost energy and excellent infrastructure.
About Norra Metals
Norra Metals Corp. (TSX-V: NORA) is a Canadian-based precious and base metals exploration company. The Company's Norwegian assets include the past-producing Bleikvassli polymetallic, zinc-copper-lead-silver underground mine project and the high-grade Meråker copper-zinc-gold exploration project. The Company also holds a 100% interest in the Pyramid copper-gold porphyry project located in Northwest British Columbia. For more information, please visit www.norrametals.com.
This news release was prepared by Company management, who take full responsibility for its content. George Cavey P.Geo., Director, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators and has reviewed and approved the technical disclosure in this release.
ON BEHALF OF THE BOARD OF Norra Metals Corp.
Per: "Minaz Devji"
CEO and Director
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Norra Metals Corp.
Contact info: Tel: (604) 258-8666, Email: email@example.com; Mr. Tony Perri - Investor Relations, Tel: (604) 818-7779, Email: firstname.lastname@example.org; Empire Communications Group Inc., Tel: (604) 643-2724, Email: David@empiregroupir.com