District Metals (DMX.V) has released the assay results of five holes that were drilled on the Stollberg property in Sweden. The drill program consisted of just over 2,400 meters around the historical Gränsgruvan mine as part of the joint venture agreement with Boliden. The table below shows all assay results for the five completed holes. The company highlighted the results from holes 152 and 154, and rightly so. Hole GRAGR-152 included 11 meters of 6.9% ZnPb and 20 g/t silver followed by 9.45 meters of 3.5% ZnPb and 34 g/t silver just a few meters further downhole. This hole predominantly stayed in the hanging wall of the mineralization.
In hole GRAGR-154, the drill bit encountered 4.5 meters with an average grade of in excess of 11% ZnPb as well as just over 1 ounce of silver per tonne of rock. As the map shows, hole 152 was drilled at the southern end of the known underground galleries at Stollberg, while hole 154 was drilled further south. Hole 153 also contained mineralization but 8.6 meters of 3.4% ZnPb and 22 g/t silver clearly was weaker than the grades encountered in holes 152 and 154. Unfortunately hole 155, the southernmost hole of the drill program, did not return any significant results.
Perhaps even more important than discovering high-grade mineralization from the get-go is the better understanding of the geological structure of the Gränsgruvan area as the drill data confirms the mine stratigraphy is tightly folded with the limbs of the folds deformed and cut by faults. District Metals and Boliden will likely plan a follow-up drill program later this year.
Disclosure: The author holds a long position in all stocks mentioned in this article. Please read the disclaimer.
