A big day for Boreal Metals Corp. (BMX.V) as they get to announce the results of their assay in Sweden. Turns out in the land of the Blondes still has some impressive mining resources to develop, and Boreal has found a good ‘un.
Here’s the quote from CEO Karl Antonius:
“We are pleased to announce the results of the drill program at Gumsberg to date have exceeded our expectations, with significant mineralization in the first five holes. Intercepts in excess of one kilogram per tonne silver with over 45% combined lead and zinc at the Ostersilvberg target are a testament to the metal endowment and significantly increases our confidence in the economic potential at Gumsberg. Confirming the presence of high grade exhalative style mineralization is central to Boreal’s potential to build tonnage at Gumsberg.”
Boreal holds six licenses in the area – which has an interesting history.
Those who understand history can profit from it
Mines already operated there for 700 years, but shut down in the 1700s when the technology of the day couldn’t make them produce any more. Boreal’s historical sites include the famous Ostersilverberg mine which was the ‘Mother Lode’ of European Silver from 1250 to 1590.
Think about this – when the silver mine was pumping out ore in 1423, they found lots of Zinc too, useless, useless zinc. So they tossed it. It could all be sitting there, and no one’s taken a serious look for 500 years.
Now it’s 2018 and we can do things those historical dudes can only dream of. It’s a really, REALLY smart idea to go back to historical mining areas and take a new look with modern assaying and development technology.
All that useless byproduct like Zinc, Lead, and other marginal ores are just waiting to be scooped up ON TOP of all the silver and other deposits medieval miners couldn’t access, but we smarty-pants of the future can.
Boreal is digging deep – hope there aren’t any Balrog down there.
The exploration of the area is split into three major sites (See map below.)
Östersilvberg is an attractive exploration target due to the presence of high grade silver-zinc-lead sulphides in historical mining dumps. In addition, miners in the 14th and 15th century focused on silver-rich mineralization, which suggests they may not have exploited the zinc rich parts of the system. Historical data as well as new surface data suggest there are stacked lenses of mineralization at Östersilvberg. Ongoing exploration drilling will test for these additional zones of mineralization in addition to testing below the historical workings to see if they are open along strike and down plunge.
The Vallberget-Lobergett Trend is an attractive two kilometer-long zone of northeast trending, moderately to steeply southeast dipping precious and base metal-rich VMS style mineralization. Mineralization across these prospects includes high grade bodies of remobilized massive sulphides, replacement style mineralization, vein style mineralization and important exhalative sulphide mineralization. Historical mining efforts suggest the mineralization is laterally continuous and forms pipe-like, moderate to steeply southeast plunging ore shoots. Ongoing exploration drilling by Boreal Metals Corp. is targeting each of these styles and geometries of mineralization.
The Gumsgruvan area contains rocks containing pervasive chlorite-anthophyllite-cordierite-garnet alteration as well as significant gold and copper mineralization which is consistent with VMS “feeder zones”, which may have acted as conduits for the transport of metal bearing hydrothermal fluids to the paleosurface. This area is considered highly prospective for copper and gold mineralization and is the least mature trend in the 2017-2018 exploration program. “
What did I say about the spoils of historical ignorance? On top of the new stuff they are finding, there’s all the discarded byproduct to pickover, since we can use way more of the buffalo now.
Here’s their official table of findings.
I love being able to cheer, stomp my feet and whistle when one of our clients has really good news. Make no mistake this is really good news.
What they seem to have here is a perfect storm of energy metals and precious metals, some of which is literally sitting on the ground waiting to be picked up. I suspect if these sites play out the way Boreal and the data suggest, there will be a run on mining sites from antiquity. I wonder if those Roman silver mines in Hispania (Spain) have hidden riches in their hills….
Boreal’s stock has had a slight uptick today – but I feel it may still be undervalued. Once the market digests the bigger picture here, I think investors will see what I’m seeing and jump on board. I can’t wait to see how this plays out – as a history nerd, and a fan.
Full Disclosure: Boreal Metals Corp. is a client, I do not own stock , but some of the team does.