EMX Royalty (TSXV: EMX), a royalty holder on the Gumsberg project in Sweden, announced this week that operator Boreal Metals (TSXV:BMX) discovered a high-grade zone of zinc-silver-lead-gold mineralization, named the South Zone, at the property.
In a press release, EMX explained that the South Zone occurs near the historic Östra Silvberg mine, and is currently delineated as 130 meters of eastward plunging mineralization that remains open for expansion to the east and at depth.
The firm also made public diamond drill results from the work that Boreal is carrying out at the 18,300-hectare Gumsberg site.
“The drill results include 11.00 meters averaging 5.90% zinc, 239.0 g/t silver, 2.51% lead, and 0.96 g/t gold in hole GUM-18-003, and 11.01 meters averaging 7.45% zinc, 275.1 g/t silver, 2.65% lead, and 0.77 g/t gold in hole GUM-18-004 (true widths estimated at 50% of reported interval lengths),” the firm stated in the media brief.
Gumsberg consists of five exploration licenses in the Bergslagen mining district of southern Sweden. According to the companies involved in the project, multiple zones of Volcanogenic Massive Sulfide style mineralization occur in the area, which was first mined in the 13th century.
Historic information reveals that up until the early 1900s, over 30 mines operated on the property, notably the Östrasilverberg mine which was the largest silver deposit in Europe between 1300 and 1590.
“Despite its long-lived production history, relatively little modern exploration has taken place on the project,” the companies said.