Tapuli
HannukainenKuervitikko
Sweden
Tapuli-Palotieva East Cu-Au targets
After reviewing the existing historical data, the Company decided to assess the Cu-Au potential of the geological formations adjacent to the Tapuli deposit, particularly in the area where infrastructure has been planned for the Kaunisvaara Project. The exploration program consists of two stages:
During the 2nd quarter, the Company initiated the review of the Fe-Cu-Au potential of its Käymäjärvi license area (which hosts the Pellivuoma and Marjarova targets). The Käymäjärvi schist belt is an extensive volcano-sedimentary formation that bears numerous geological and geochemical indications of Fe-Cu-Au mineralization. The area is unexplored as indicated by almost nonexistent historical drilling. The company has started a GIS study of the area, to be followed soon by a reconnaissance survey, geological mapping and sampling.
Ruutijärvi
During the 1st quarter 2009, the Company drilled one hole at Ruutijärvi, totalling 201 metres, to test magnetic and gravity anomalies. Drilling returned 20-m-long intersections of moderate iron ore which does not explain the prominent Ruutijärvi geophysical anomalies. An additional in-house magnetometric survey was conducted to understand the deposit better. The results are being analysed.
Salmivaara There was no activity on this permit during the quarter.
Karhujärvi
During the 1st quarter 2009, the Karhujärvi airborne magnetic anomaly was drill tested with two drill holes totalling 338.1 metres. These two holes, assayed during the 2nd quarter, returned good results suggesting that Karhujärvi has true potential for additional Fe+Cu resources in proximity to Sahavaara.
Suksivuoma: There was no activity on this permit during the quarter.
Finland
Cu-Rautuvaara
There was no activity on this permit during the quarter.
Rautuoja
There was no activity on this permit during the quarter.
Aavahelukka, Tuohilehto, Palovitsavaara
Exploration results are being evaluated and a decision will be made on resumption of activities later this year. No extensive high grade intersections were encountered from Tuohilehto or Palovitsavaara targets. Aavahelukka targets yielded 20-m-long magnetite ore intersections, and warrants further consideration if the nearby Kuervitikko deposit is developed together with Hannukainen.
Tapuli-Palotieva East Cu-Au targets
After reviewing the existing historical data, the Company decided to assess the Cu-Au potential of the geological formations adjacent to the Tapuli deposit, particularly in the area where infrastructure has been planned for the Kaunisvaara Project. The exploration program consists of two stages:
- Stage I: Logging and assaying of selected condemnation holes, which are known to intersect the critical contact of the Tapuli footwall black shales and mafic-ultramafic volcanics. A total of 22 condemnation holes from the Tapuli area have been identified and prepared for detail logging. Sampling is underway and assay results are pending.
- Stage II: Geochemical Mobile Metal Ions (MMI) soil sampling survey across the critical geological structures along the Pajala shear zone near Tapuli-Palotieva iron deposits. The soil sampling program includes 21 sampling lines totalling 18 line kilometres and 1,100 samples.
During the 2nd quarter, the Company initiated the review of the Fe-Cu-Au potential of its Käymäjärvi license area (which hosts the Pellivuoma and Marjarova targets). The Käymäjärvi schist belt is an extensive volcano-sedimentary formation that bears numerous geological and geochemical indications of Fe-Cu-Au mineralization. The area is unexplored as indicated by almost nonexistent historical drilling. The company has started a GIS study of the area, to be followed soon by a reconnaissance survey, geological mapping and sampling.
Ruutijärvi
During the 1st quarter 2009, the Company drilled one hole at Ruutijärvi, totalling 201 metres, to test magnetic and gravity anomalies. Drilling returned 20-m-long intersections of moderate iron ore which does not explain the prominent Ruutijärvi geophysical anomalies. An additional in-house magnetometric survey was conducted to understand the deposit better. The results are being analysed.
Salmivaara There was no activity on this permit during the quarter.
Karhujärvi
During the 1st quarter 2009, the Karhujärvi airborne magnetic anomaly was drill tested with two drill holes totalling 338.1 metres. These two holes, assayed during the 2nd quarter, returned good results suggesting that Karhujärvi has true potential for additional Fe+Cu resources in proximity to Sahavaara.
Suksivuoma: There was no activity on this permit during the quarter.
Finland
Cu-Rautuvaara
There was no activity on this permit during the quarter.
Rautuoja
There was no activity on this permit during the quarter.
Aavahelukka, Tuohilehto, Palovitsavaara
Exploration results are being evaluated and a decision will be made on resumption of activities later this year. No extensive high grade intersections were encountered from Tuohilehto or Palovitsavaara targets. Aavahelukka targets yielded 20-m-long magnetite ore intersections, and warrants further consideration if the nearby Kuervitikko deposit is developed together with Hannukainen.
