District Metals announces definite agreement with Boliden Mineral
November 02, 2023 at 03:01 pm
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District Metals CEO Garrett Ainsworth joined Steve Darling from Proactive to share significant news the company has entered into a definitive agreement with Boliden Mineral AB to collaborate in the development of District's wholly-owned polymetallic Tomtebo Property and Boliden's wholly-owned polymetallic Stollberg Property.
Ainsworth explained that under this agreement, Boliden has been granted the right to earn up to an 85% interest in the Tomtebo Property. Following the exercise of the Earn-In Option, the Tomtebo Property will be contributed to a joint venture, alongside Boliden's Stollberg Property.
District will initially control a 15% interest in the joint venture.
The Tomtebo and Stollberg Properties are strategically located just 35 kilometers apart along a well-known metallogenic belt within the prolific Bergslagen Mining District in Sweden. This district is home to Boliden's Garpenberg Mine and Lundin Mining's Zinkgruvan Mine, making it a highly prospective area for polymetallic mineral exploration.
This collaboration represents a significant step forward for District Metals, as it not only brings a well-established partner in Boliden but also aligns with the company's growth and development strategy. It positions District Metals for enhanced exploration and potential resource development opportunities in the heart of the Bergslagen Mining District.
Contact Details
Proactive Investors
+1 604-688-8158
na-editorial@proactiveinvestors.com
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District Metals Corp. is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. Its projects include Viken, Tomtebo, Gruvberget, Svardsjo, Tasjo, Ardnasvarre, Sagtjarn, and Bakar. The Viken Property totals 9,367 hectares (ha) where the Viken nr one mineral license covers the majority of the polymetallic Viken Deposit. Tomtebo covers an area of approximately 5,144 hectares and is located 175 kilometers (km) northwest from Stockholm in Sweden. Gruvberget covers an area of 5,286 hectares and is located approximately 230 km northwest from the capital city of Stockholm in Sweden. Svardsjo covers an area of 1,037 hectares and is located approximately 200 km northwest from the capital city of Stockholm in Sweden. The Tasjo nr 101 to 105 mineral licenses cover an area of 15,625 hectares. The Ardnasvarre nr one mineral license is located within the Arjeplog-Arvidsjaur uranium province and covers an area of 9,708 hectares.
DISTRICT METALS CORP. 
