District Metals (DMX.V) has released the assay results from two holes drilled at Tomtebo as part of its 2022 Spring drill program. One hole was drilled almost 700 meters to the northeast from the historic Tomtebo mine at a virgin target to drill-test a magnetic high anomaly. Unfortunately this hole came up empty and the company’s technical team is now analyzing the data to see if the results warrant additional follow-up holes.
The second hole was much better. Hole 38 was drilled at a known mineralized zone and about 40 meters down plunge from hole 25 which was drilled in 2021 and intersected 14.3 meters of 14.15% zinc-equivalent. Hole 38 was excellent as it encountered three distinct mineralized zones and it did what it was supposed to do: confirm a relatively wide and high-grade area of mineralization below the previous high-grade intervals.
While the 25.5 meters at 8.24% Zinc-Equivalent is excellent, let’s keep in mind the drill bit intersected two other interesting areas of mineralization along the way. An interval of 9 meters containing 3.36% zinc-equivalent is interesting, and this was followed up by 5.2 meters containing 3.59% zinc-equivalent before hitting the broader 25.5 meter interval.
The general takeaway is that this appears to be a positive target. While hole 037B didn’t yield any results, it is far more important to see District was effectively able to confirm the high-grade mineralization at depth at the Steffenburgs zone. The extremely high-grade gold (and silver!) result over a very narrow 40 centimeter interval was pretty interesting to see, and rest assured, this narrow interval did not skew the average grade in the wider interval as the gold grade was capped at 10 g/t for the calculation of zinc-equivalent grades.
We will catch up with CEO Garrett Ainsworth in the near future to discuss these drill results and to hear what the next steps are for the company.
Disclosure: The author has a long position in District Metals. District is a sponsor of the website. Please read our disclaimer.
