May 25, 2021 – District Metals Corp. (TSX-V: DMX) (FRA: DFPP); (“District” or the “Company”) is pleased to report assay results for the first three drill holes from the maiden drilling program at the high grade polymetallic Tomtebo Property located in the Bergslagen Mining District in south-central Sweden.

The first three drill holes at Tomtebo have successfully encountered significant semi-massive to massive polymetallic sulphides.  Drill hole TOM21-001 was drilled at the Steffenburgs zone, and holes TOM21-002 and -003 targeted the Oscarsgruvan zone with the following drill assay highlights:

  • TOM21-001 intersected 8.2 m at 10.3% Zn, 4.5% Pb, 66.2 g/t Ag, 1.7 g/t Au, and 0.08% Cu (65.3 to 73.5 m) including 3.2 m at 17.8% Zn, 8.3% Pb, 124.4 g/t Ag, 1.6 g/t Au and 0.07% Cu (70.3 to 73.5 m).
  • TOM21-002 intersected 12.55 m at 148.6 g/t Ag, 2.1% Zn, 2.2% Pb, 0.2 g/t Au, and 0.04% Cu (90.8 to 103.35 m) including 4.75 m at 198.5 g/t Ag, 4.5% Zn, 3.1% Pb, 0.3 g/t Au, and 0.04% Cu (98.6 to 103.35 m); and 4.8 m at 197.0 g/t Ag, 4.9% Zn, 2.4% Pb, 0.3 g/t Au, and 0.03% Cu (125.0 to 129.80 m).
  • TOM21-003 intersected 14.85 m at 82.4 g/t Ag, 3.2% Zn, 1.4% Pb, 0.2 g/t Au, and 0.02% Cu (161.3 to 176.15 m) including 7.8 m at 117.6 g/t Ag, 3.5% Zn, 1.9% Pb, 0.3 g/t Au, and 0.02% Cu (163.3 to 171.1 m) and including 2.95 m at 74.2 g/t Ag, 6.2% Zn, 1.3% Pb, 0.2 g/t Au, and 0.03% Cu (173.2 to 176.15 m).

Drill hole locations, and a cross section at the Oscarsgruvan zone are shown in Figures 1 to 2, drill core photos are shown in Figures 3 to 5, and drill assay results are shown in Table

Rodney Allen, Technical Advisor for District, commented: “The first drill hole in the 2021 program provides an excellent intersection of the Zn-Pb-Ag massive sulphide mineralization at Tomtebo and is a giant step forward in understanding the Tomtebo mineral system. This drill hole provides the critical information that confirms the nature of the targets in the Tomtebo area, which in turn enables us to interpret where new undiscovered polymetallic lenses most likely occur. In particular, the intersection in hole one confirms that:

  1. This target is a volcanogenic massive sulphide (VMS) lens that occurs at a specific level of the volcanic host stratigraphy, above a large volume of intensely altered and vein-mineralized footwall rocks, and below a succession of less altered hanging-wall rocks.
  2. This style of massive sulphide lens has the potential to comprise a large volume of high-grade polymetallic sulphide.
  3. VMS lenses of this type always occur as clusters of massive sulphide lenses, scattered along the favourable stratigraphic “horizon”, which means there are more polymetallic sulphide lenses to be discovered in the Tomtebo system.
  4. VMS mineral systems typically comprise polymetallic sulphide lenses with roots that grade downwards into pyritic copper-bearing stockwork vein and disseminated mineralization that represents the “feeder” conduits to the massive sulphide. Consequently, we can now interpret the old open-pit copper prospects on the Tomtebo property as part of the stockwork of veins that fed the polymetallic massive sulphide mineralization higher in the stratigraphic sequence.

The second and third holes in the program intersected volcanogenic massive sulphide mineralization about 175 m northeast of hole one. The mineralization here comprises a combination of massive sulphide veins within altered volcanic rocks, and massive, semi-massive and disseminated polymetallic sulphide mineralization within, and at the contacts of, skarn-altered limestone beds. This indicates a second type of target, somewhat different to that in hole one, in which mineralizing hydrothermal solutions moved up through the volcanic stratigraphy, forming a stockwork of sulphide veins, and where the solutions met chemically reactive limestone beds, they spread out laterally along the contacts of the limestone, forming skarn in the limestone and mineralizing both the volcanic rock and the skarn. This is a similar style of mineralization to that at the nearby giant Garpenberg mine, and indicates that at Tomtebo there is volcanogenic massive sulphide mineralization both within volcanic rocks at the “favourable VMS mineralized horizon”, and also associated with limestone beds that may occur near or slightly below the “VMS horizon”.”

Garrett Ainsworth, CEO of District, commented: “By any metric the high grades of polymetallic mineralization we have encountered over significant widths in our first three drill holes at Tomtebo have clearly exceeded our expectations.  We are especially pleased to see significant silver and gold grades as high as 1,430 g/t Ag and 7.4 g/t Au from discrete drill core samples returned from the Steffenburgs and Oscarsgruvan zones, which is important as almost 50% of the 2020 revenue from Boliden’s highly productive polymetallic Garpenberg Mine was attributed to silver and gold.  Our high grade polymetallic mineralized drill intercepts remain wide open at depth and along strike, which sets us up to expand mineralization with follow up drilling.”

All three drill holes returned low concentrations of deleterious elements and dominantly coarse-grained polymetallic sulphides, which are favourable attributes from a metallurgical standpoint.  These positive characteristics are consistent with other polymetallic mines in the Bergslagen Mining District.  Deleterious elements associated with the polymetallic mineralization reported in this news release include arsenic (0.5 to 363 ppm), cadmium (0.02 to 516 ppm), antimony (0.28 to 1,470 ppm), and selenium (1 to 22 ppm).  Coarse grained polymetallic sulphides are an important factor in obtaining high recoveries during mineral processing.

Drill Hole Summaries

TOM21-001 (Steffenburgs zone):

Hole TOM21-001 was drilled at an angled orientation (-45° dip) to the east (77° azimuth). It was designed to test the 3D modeled mineralized domain anchored by historic hole TOMT43002, which returned 6.2 m (41.7 to 47.9 m) at 11.22% Zn, 5.16% Pb, and 0.19% Cu (not assayed for silver and gold).

After 20.0 m of overburden, the hole intersected moderately altered felsic volcanic rocks with trace pyrite from 20.0 to 37.0 m intercalated by meter-scale mafic dykes from 24.7 to 34.4 m. Moderately altered felsic rock with increasing pyrite and gahnite content was intersected between 37.0 to 64.2m. The onset of stronger silicification of the felsic volcanic rock after 64.2 m marks the beginning of extensive sulphides which were intersected from 64.2 to 73.95m that included dense accumulations of disseminated, stringer, vein, and semi-massive to massive polymetallic mineralization. This mineralized unit includes a massive sulphide interval between 70.3 to 73.5 m. This substantial mineralized intercept is underlain by moderately to strongly altered felsic volcanic rocks intercalated by meter-scale mafic dykes from 76.2 m to the end of hole depth at 114.8 m. Hole TOM21-001 represents the strongest and most extensive mineralization intersected at the historic Tomtebo Mine to date.

TOM21-002 (Oscarsgruvan zone):

Hole TOM21-002 was drilled at an angled orientation of (-50° dip) to the northeast (30° azimuth), and was designed to test the 3D model mineralized domain anchored by historic hole TOMT65002, which returned 4.45 m (116.35 to 120.80 m) at 195.11 g/t Ag, 7.8% Zn, 3.0% Pb, 0.55 g/t Au, and 0.05% Cu.

After 15.6 m of overburden, the hole intersected moderately to strongly altered felsic volcanic rocks with disseminated trace pyrite intercalated by several meter-scale mafic dykes from 15.6 to 90.8 m.  Numerous significant intervals of polymetallic sulphide mineralization were encountered between 90.8 to 103.55 m, 125.0 to 129.8 m, and 176.3 to 188.5 m within moderately to strongly altered felsic volcanic rocks intercalated by rare meter-scale limestone skarn units between 128.5 and 133.6m and mafic dykes. This mineralized unit includes a massive sulphide interval between 98.6 to 100.5 and 101.5 to 203.6 m. These significant polymetallic sulphide intercepts are underlain by weakly altered felsic volcanic rocks intercalated by narrow to meter-scale mafic dykes from 191.9 m to the end of hole depth at 223.0 m.

TOM21-003 (Oscarsgruvan zone):

Hole TOM21-003 was drilled at an angled orientation of (-59° dip) to the northeast (30° azimuth) and was primarily designed to test mineralization beneath hole TOM21-002.  A secondary objective was to test the 3D model mineralized domain anchored by historic hole TOMT71024 which was drilled horizontally to the northwest from the -200 m exploration drift, and returned 4.45 m (22.59 to 27.04 m) at 55.96 g/t Ag, 8.73% Zn, 1.66% Pb, 0.24 g/t Au, and 0.03% Cu.

After 12.8 m of overburden, the hole intersected moderately to strongly altered felsic volcanic rocks with occasional disseminated pyrite intercalated by several meter-scale mafic dykes from 12.8 to 152.3 m. Numerous intervals of significant polymetallic sulphide mineralization were encountered between 152.3 to 218.8 m within strongly to intense altered felsic volcanic rocks intercalated by meter-scale limestone skarn units and a mafic dyke. This polymetallic mineralization was underlain by a weakly to moderately altered felsic volcanic rocks with disseminated pyrite from 218.8 m to the end of hole depth at 267.0 m.

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