EXPLORATION & DEVELOPMENT

Boreal points to copper potential at Burfjord

Explorer says results add to prospectivity at Norwegian project

Staff reporter

This article is 5 years old. Images might not display.

It reported a 32m intercept at the Gamlegruve workings area grading 0.56% copper and 0.26g/t gold from 184m, including 3.46m at 4.31% copper and 2.22g/t gold.

Executive chairman Patricio Varas said the results confirmed the presence of broad zones of copper mineralisation enveloping high-grade copper veins at Burfjord.

Boreal said it also confirmed the broad style of mineralisation observed in the widespread artisanal workings across the property.

Burfjord was mined pre-20th century and has seen little modern exploration, Boreal said, with the best historical drill intercept of 7m at 3.6% copper from the Cedarsgruve mine area in the northern portion of the project.

The company has been building its Scandinavian portfolio through a series of deals with EMX Royalty Corp, one of its major shareholders.

EMX also backed Boreal's February financing, which was upsized to C$1.6 million (US$1.2 million) at 9.5c per unit, for exploration at the Gumsberg VMS project in Sweden and general working capital.

Boreal had about $1.2 million (US$0.9 million) in cash at the end of September.

Its shares were trading at 24c a year ago and fell to 4c in December.

They last traded at 8.5c to capitalise it about $6.5 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.