- District Metals Corp. (DMXCF, Financial) files NI 43-101 report for Viken Energy Metals Property in Sweden.
- Updated Mineral Resource Estimate reveals significant resources, including uranium and vanadium.
- Potential exploration targets range from 980 to 1,040 million tonnes.
District Metals Corp. has released a comprehensive NI 43-101 Technical Report detailing the updated Mineral Resource Estimate (MRE) for its Viken Energy Metals Property in Sweden. The report, prepared by P&E Mining Consultants Inc., highlights the substantial reserve potential of the property.
The Viken Deposit's Indicated Resource contains approximately 456 million tonnes with a uranium grade of 175 ppm U3O8, while the Inferred Resource comprises about 4,333 million tonnes at 161 ppm U3O8. The site also hosts other valuable metals, including vanadium, molybdenum, nickel, copper, and zinc.
The updated MRE employs consensus metal prices, such as $72 per pound for U3O8 and $5 per pound for V2O5, with varied processing recovery rates: 80% for uranium and vanadium, 70% for molybdenum and nickel, 50% for copper, and 75% for zinc.
The report also identifies new exploration targets within the Viken Property, estimated between 980 and 1,040 million tonnes at uranium grades of 140 to 180 ppm. While the exploration targets are promising, they remain conceptual, requiring further investigation to determine their classification as Mineral Resources.
District Metals Corp. continues to position itself as a leading exploration company in the Swedish mining sector, focusing on harnessing the significant mineral potential within the Viken and Tomtebo Properties. The detailed Technical Report is accessible on SEDAR+ under the company's issuer profile.