District Metals (DMX.V) provided an update on its drill programs in Sweden last week. The company completed the two holes it wanted to drill at Tomtebo. One of those holes was targeting the Steffenburgs zone (which is where the very high grade zinc mineralization was discovered in the previous drill programs) and one hole was a step-out hole to test a target about 650 meters towards the northeast of Steffenburgs. Unfortuntely that step-out hole came up empty as the rock was described as strong skarn alteration but without any polymetallic sulphides. This means the magnetic anomaly was likely caused by magnetite stringers.
Too bad but that’s the nature of the beast: exploration is a ‘hit and miss’ game.
Fortunately the other hole was more successful, TOM22-038 has hit the desired zone at Steffenburgs as it intersected the footwall which the company described as ‘intermittent disseminated, stringer and impregnated with lesser semi-massive to massive mineralization’ over a length of 61.5 meters. More importantly, the hole also intersected massive sulphide mineralization at a depth of 271.5 meters downhole. The thickness of the massive sulphide mineralization was just 2.7 meters but as this zone was encountered about 40 meters below hole TOM21-025 which intersected 14.3 meters containing 14.2% zinc-equivalent, it is a positive evolution to see District still hitting the desired type of mineralization at depth. Additionally, the technical team now thinks a part of the VMS lens has been faulted off.
We obviously still have to wait for the assay results to return from the lab and this may take a while: District is expecting to hear back at the end of July or early August.
The grade will be important. But from a technical perspective it is understandable while Technical Advisor Rodney Allen seems to be genuinely excited as in his comment, he highlights the hole yielded important geological information that extends the interpretation of the structure, which is still continuing at depth.
It’s just such a pity no one seems to care about zinc right now.
Disclosure: The author has a long position in District Metals. District is a sponsor of the website. Please read our disclaimer.
