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District Metals Begins Drilling at Osterkalen Mineral License Within Alum Shale Properties in Sweden

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District Metals' (DMX.V) diamond drilling program at the Osterkalen Mineral License, part of the company's Alum Shale properties in central Sweden, has commenced, the company said Wednesday.

This drill program by the miner is designed to test prospective Alum Shale mineralization associated with coincident geophysical and geochemical anomalies identified across the property, it said.

"The large conductive MobileMT anomaly at Osterkalen is interpreted to represent Alum Shale and has dimensions consistent with a district-scale target," said District Metals CEO Garrett Ainsworth. "This program is designed to determine whether the Osterkalen target hosts the characteristics of a Viken-style mineralized system while continuing to demonstrate the significant exploration upside across our Alum Shale Properties."

Shares of the company closed down 4.1% to C$0.70 on Tuesday on the TSX Venture Exchange.

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