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Lannavaara/Saarijarvi

Location: Northern Sweden
Minerals: Iron Oxide-Copper-Gold
Ownership: Variable JV (possible 100%) w/ back-in rights
Status: Exploration
 Lannavaara/Saarijarvi
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Exploring for IOCG Mineralization
The Lannavaara and Saarijarvi properties offer attractive targets for the discovery of iron oxide-copper-gold (IOCG) mineralization. IOCG deposits are sought by many mining companies around the world. Some of the largest mineral deposits in the world, including Olympic Dam in Australia and Kiruna in Sweden, belong to this class of deposits.

Joint Venture With Anglo American
We acquired our interests in Lannavaara and Saarijarvi from Anglo American Exploration ("AAE"), a wholly-owned subsidiary of Anglo American plc, in December 2005. The licenses were acquired initially by AAE for their IOCG potential. As Anglo's exploration focus shifted away from copper exploration, the opportunity arose for Northland to joint venture the Lannavaara and Saarijarvi licenses.

Anglo American's Preliminary Work
AAE has completed extensive compilation work and preliminary exploration on the properties and has identified a number of IOCG targets which show anomalous copper and gold values. They have made their full exploration database for the properties including target selection, available to Northland.

Initial Samples and Mineralization
The highest priority target lies on the Saarijarvi No. 2 License, where AAE's initial data work identified what is believed to be subcrop of copper-gold mineralization. Grab samples collected by AAE and during the annual Swedish government-sponsored public boulder hunt returned copper and gold grades ranging from trace to a highest grade of 7.6% copper and 14.3g/t Au in a sulphide mineralized boulder. The source of the boulder is believed to be subcrop within the Saarijarvi No. 2 license. AAE also identified a significant copper-in-peat anomaly approximately coincident with the high-grade subcrop sample ranging up to 0.75% Cu in peat. Northland has not independently verified these results.
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This page was created on Wed Sep 8, 2010 at 4:43:05 PM Pacific Time.