District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders. District is a 2025 TSX Venture 50 company, ranking among the top-performing issuers on the TSX Venture Exchange in the past year.
District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The Viken Property covers 100% of the Viken Energy Metals Deposit, which is an asset with substantial exploration and development expenditures that resulted in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken Deposit contains historical inferred mineral resource estimates of 1.15 Blbs U3O8 and 16.7 Blbs V2O51,2.
The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historic Falun Mine and Boliden’s Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district.
1 See report titled “Preliminary Economic Assessment on the Viken MMS Project, Sweden,” prepared for Continental Precious Minerals Inc., dated October 19, 2010 with an effective date of September 10, 2010 (the “2010 Viken Report”).
- The Company views the 2010 Viken Report as relevant and reliable.
- Weighting of composite samples by linear Ordinary Kriging was used for the estimation of block grades. Kriging parameters were based on the grade-element variography derived from the mineralized shale domain. A block discretization level of 5 x 5 x 2 was used during kriging. The mineralized shale domain was treated as a hard boundary, and data used during estimation were limited to composite samples located within the mineralized shale domain wireframe. Only blocks wholly or partially within the mineralized shale domain were estimated. The mineralized shale domain was treated as a hard boundary, and data used during estimation.
- During the first pass, four samples from each of three drill holes within 110m of the block centroid were required. All block grades estimated during the first pass were classified as Indicated.
- During the second pass, blocks not populated during the first pass were estimated. A minimum of three and a maximum of six samples from one or more drillholes within 330 m of the block centroid were required. All block grades estimated during the second pass were classified as Inferred.
- An internal break-even cut-off grade of US$7.50/tonne was used in reporting this historical estimate.
- The historical estimate categories are classified under the previous definition standards and do not match the current categories under NI 43-101.
- Other than the 2014 Viken Report, the Company is not aware of any more recent estimates or data available to the Company on the Viken deposit.
- The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Viken Deposit historical estimate as a current mineral resource.
- The mineral resource estimates is considered to be a “historical estimate” under NI 43-101 and a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and District is not treating the historical estimate as a current mineral resource.
2 See report titled ”Updated Technical Report, Resource Estimate and Preliminary Economic Assessment on the Viken MMS Project, Sweden,” prepared for Continental Precious Minerals Inc., dated February 27, 2014 with an effective date of February 6, 2014 (the “2014 Viken Report”).
- The Company views the 2014 Viken Report as relevant and reliable.
- Block grades were estimated using Ordinary Kriging of capped composite samples. Only blocks wholly or partially within the mineralized shale domain were estimated, and between six and fifteen samples from two or more drill holes within 660 m of the block centroid were used for estimation. A small area in the Southern portion of the deposit with an average drillhole spacing of approximately 120 m has been classified as an indicated mineral resource.
- An internal break-even cut-off grade of US$11.00/tonne was used in reporting this historical estimate.
- The historical estimate categories are classified under the previous definition standards and do not match the current categories under NI 43-101.
- The Company is not aware of any more recent estimates or data available to the Company on the Viken deposit.
- The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Viken deposit historical estimate as a current mineral resource.
- The mineral resource estimates is considered to be a “historical estimate” under NI 43-101 and a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and District is not treating the historical estimate as a current mineral resource.
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