District Metals (DMX.V) is fully focusing on its Swedish projects where the flagship Tomtebo project, a polymetallic target, remains the main focus, we shouldn’t forget the company also owns 20% of the Bakar project where Sherpa II Holdings (SHRP.V) has completed its earn-in agreement and has established an 80% stake in the project.
The joint venture partners have now identified a large VTEM anomaly which covers an area of 1,500 meters by 500 meters starting as shallow as 50 meters but extending to in excess of 500 meters in some areas. Additionally, a ZTEM survey also highlighted an anomaly at the exact same spot as you can see in the image below and the combination of those two anomalies and knowing that the main exploration target is located at the convergence of two faults makes this a high priority drill target for either a VMS or porphyry copper system.
The company also reported on the assay results of two rock chip samples taken from the outcrop at the edge of the coincident anomalies and those two samples returned grades of 0.49% copper and 4.13% copper and this marks the Elephant Crossing target as a new discovery as this was a previously completely unknown discovery.
The joint venture partners have submitted a drill permit application in November and are anticipating to drill up to 800 meters in two holes immediately after receiving the drill permit.
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