VANCOUVER, BC / ACCESSWIRE / March 17, 2022 / Norrland Gold Corporation ("Norrland" or "the Company")(TSXV:NORR)(Frankfurt:8VC) is pleased to announce the granting of a new tenement that is prospective for Rare Earth Elements as the Company continues to build an attractive diversified exploration portfolio in Sweden, a Tier 1 mining jurisdiction.
Highlights:
- Increasing Norrland's land holding with the granting of the Liljendal Rare Earth Elements (REE) tenement;
- Geophysical work continues at the Vittanträsket and Pingisvaara gold projects;
- Re-logging historical drill core at the Junsele Battery Metals prospect.
The Liljendal Rare Earth Elements (REE) tenement, located in central Sweden, covers an area of 1,732 hectares. The first exploration period expires February 2, 2025. The tenement covers more than ten kilometers along a major tectonic zone with known REE mineralization.
Many of the Rare Earth Elements, such as Holmium, Yttrium, and others, were first discovered in Sweden in the late 18th and early 19th century. Sweden is sometimes referred to as the "Home of Rare Earth Elements". Rare Earth Elements are all considered strategic metals by the Swedish government who have an active interest in identifying sources within the European Union.
The Company will conduct surface sampling and mapping with a view to defining drill targets in this well exposed area. This program will commence towards the end of the second quarter as weather permits.
The current geopolitical turmoil and rising energy prices are likely to result in western economies accelerating the shift towards the 'green economy' and reducing reliance upon fossil fuels. The electrification of the energy used to drive machinery is a key part of the energy transition and one of the most significant energy shifts in history. Magnet metals are central to this transition and critical to manufacturing applications such as electric vehicles and wind turbines. The location of critical rare earth materials will become significant factors in future supply chains. Prices of Praseodymium-Neodymium Oxide (NdPr) continue to rise driven by burgeoning demand and growing shortage of supply in China.
Gold Projects Update - Vittanträsket and Pingisvaara
Geophysical work is ongoing at Norrland's two gold-prospects in Northern Sweden, Vittanträsket and Pingisvaara which was announced previously on December 9, 2021. Many of Sweden's deposits are hidden under moraine cover which presents a great opportunity for a new discovery. Vittanträsket is located within the most substantial geochemical gold in moraine anomaly in Sweden. The 4 million oz historical Boliden gold mine current 1 million plus oz Barsele gold project of Agnico Eagle are examples of known deposits in the same geological terrain and region in which the Company is working.
Battery Metals Project Update - Junsele
The Company announced previously on December 9, 2021 the granting of the Junsele tenement covering 1,225 hectares over a layered mafic with ultramafic layers intrusion in central Sweden. The Swedish government carried out a nationwide exploration program for Platinum in the 1980s. An unsubstantiated platinum assay of 21 g/t in a chip sample from narrow ultramafic bands was reported which represented the highest platinum value sample ever recorded by state geologists in Sweden.
Junsele represents a virtually unexplored layered mafic complex with potential to host significant PGEs, nickel and copper.
The Company plans to re-log historical drillcore at the Junsele project to validate historical grades and to plan for future exploration.
Anders West, CEO, commented:
"The granting of the Liljendal Rare Earth Elements tenement is a significant milestone for Norrland which increases our footprint in Sweden as we build a diversified portfolio of commodities. With metals and commodity prices moving to all-time highs and the increasing need to source these metals from top tier mining jurisdictions, Norrland is well positioned to receive interest from both investors and established mining companies seeking opportunities in strategic jurisdictions."
"Sweden has a rich mining heritage and as a Swedish geologist I am very pleased that we have been able to secure attractive tenements in the right locations within Sweden.
2022 will be a busy year for Norrland as we seek to further develop the four projects. I look forward to updating shareholders with exciting news as the year progresses."
NORRLAND GOLD CORP.
Anders West, CEO
Qualified Person: The scientific and technical data contained in this news release, pertaining to the Vittanträsket, Pingisvaara, and Junsele Projects, has been reviewed and approved by Douglas J. Kirwin, who served as the qualified person (QP) under the definition of National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking statements." 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" 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 and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the 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 the 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 press release.
Please visit us at www.norrlandgold.com
SOURCE: Norrland Gold Corporation
View source version on accesswire.com:
https://www.accesswire.com/693394/New-Rare-Earth-Elements-REE-Tenement-Granted
