District Metals and Boliden Minerals Set $1.5M Exploration Budget for Tomtebo and Stollberg Properties in Sweden

February 20, 2024

District Metals and Boliden Minerals have jointly approved a $1.5 million exploration budget for the Tomtebo and Stollberg Properties in 2024, marking a significant step forward in the exploration of these high-grade polymetallic properties located in Sweden's Bergslagen Mining District. District Metals, serving as the operator of this collaboration, has already initiated core drilling activities at the Tomtebo Property.

The comprehensive exploration plan for 2024 includes historical data compilation, geological mapping, geochemical sampling, ground magnetic and electromagnetic surveys, review of historic drill cores, and core drilling operations. Specifically, the Tomtebo Property will undergo a core drill program consisting of 2,250 meters across six to eight drill holes. This effort will be complemented by Boliden's advanced down-hole three component electromagnetic (DHEM) survey, a technique instrumental in discovering new mineralized zones at Boliden's Garpenberg Mine.

One of the focal points of this year's drilling campaign is the Steffenburgs zone at the historic Tomtebo Mine. Here, three drill holes totaling 1,200 meters aim to extend exploration below previous high-grade intercepts, including one notable hole that returned 25.5 meters grading 8.2% ZnEq, which includes significant gold and silver values and remains open at depth.

Additionally, the exploration team plans to drill three to five holes along the mineralized horizon extending to the east and west of the Tomtebo Mine. These efforts will be informed by recent geochemical and ground magnetic results, aiming to uncover new extensions of polymetallic mineralization.

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