More in depth information about each project below:
Copperstone Resources - Viscaria
Ticker: STO: COPP
Category: Copper, Iron
The Viscaria mine, operational in the 1980s and 1990s, ceased operations due to a decline in copper demand before the year 2000. However, with evolving societal needs and a shift towards renewable energy sources, metals have become crucial in this transition. Since the 1990s, global copper demand has doubled, reigniting interest in Viscaria's resources.
Initial explorations estimated the deposit to contain 3 million tons of copper-bearing rock. Recent prospecting drillings now indicate a substantial increase, suggesting Viscaria holds approximately 93 million tons of copper-bearing rock and has the potential to yield around 30,000 tons of copper annually. If the mine reopens, it could position itself as one of the largest copper producers in northern Europe.
Resources at Viscaria:
Aura Energy - Häggån
Ticker: ASX: AEE
Category: U3O8, V2O5, K20, Mo, Ni
Situated in the Berg municipality within the Jämtland province of central Sweden, the Häggån deposit is fully owned by Aura Energy through its subsidiary, Vanadis Battery Metals AB. This deposit holds global significance and carries substantial importance for both Sweden and Europe. It has the potential to provide a crucial, well-managed supply of critical minerals, playing a key role in transforming the continent's economy.
Reources: 2,548Mt material at 0.1% V 2O 5 cut-off1:
V2O 5 - 14,900Mlbs at 0.27% V2O 5
Ni –780,000t at 312ppm Ni
Zn – 1,170,000t at 433ppm Zn
Mo – 1,146Mlbs at 200ppm Mo
U3O8 – 800Mlbs at 150ppm U 3O 8 (100ppm U 3O 8 cut-off)
There is currently a ban on uranium mining in Sweden. However on 23 February 20243, Sweden’s Climate Minister, Romina Pourmokhtari created inquiry to abolish the current ban on uranium mining. Häggån is one of the largest Uranium deposits in the world with 800 Mlbs. Uranium adds 14% to the revenue and 37% to NPV of the scoping study @ US$ 65/lb U3O8.
Scoping Study highlights for the Häggån Project:
District Metals - Tomtebo
Ticker: CVE: DMX
Category: Zinc, Lead, Silver, Gold, Copper
Spanning across 5,144 hectares, Tomtebo is strategically positioned 175 km northwest of Stockholm, Sweden. Notable mining operations surround the area, with Boliden’s Garpenberg Mine 25 km to the southeast, the historic Falun Mine 25 km to the northwest, and Lundin Mining’s Zinkgruvan Mine situated 175 km to the southwest.
Tomtebo showcases geological similarities in terms of host rocks, structure, alteration, and mineralization styles when compared to the Garpenberg, Falun, and Zinkgruvan Mines.The property boasts a 17 km trend featuring two historic mines and numerous mineralized prospects.
Notably, mineralization at the Tomtebo and Lovas Mines appears to extend in all directions. Historical production records indicate that the Tomtebo Mine yielded 120,000 tonnes at 4.4% Cu, while the Lovas Mine produced 330,000 tonnes with concentrations of 3.5% Zn, 2.5% Pb, and 30g/t Ag.
In 2020, District initiated a modern and systematic exploration effort on the Tomtebo Property.
District drill intercepts from 2021 and 2022 campaigns at the Tomtebo Property include:
- 8.2 m at 20.9% ZnEq (10.3% Zn, 4.5% Pb, 66.2 g/t Ag, 1.7 g/t Au, and 0.08% Cu) from 65.3 to 73.5 m;
- 12.55 m at 8.6% ZnEq (148.6 g/t Ag, 2.1% Zn, 2.2% Pb, 0.2 g/t Au, and 0.04% Cu) from 90.8 to 103.35 m
- 14.3 m at 14.2% ZnEq (9.5% Zn, 40.0 g/t Ag, 2.3% Pb, 0.4 g/t Au, and 0.2% Cu) from 210.0 to 224.3 m
- 30.05 m at 10.9% ZnEq (7.0% Zn, 25.0 g/t Ag, 1.9% Pb, 0.4 g/t Au, and 0.2% Cu) from 148.35 to 178.40 m
- 25.5 m at 8.2% ZnEq (2.4% Zn, 65.0 g/t Ag, 2.1% Pb, 0.6 g/t Au, and 0.2% Cu) from 249.0 to 274.1 m
District Metals - Viken
Ticker: CVE: DMX
Category: U3O8, V2O5, Mo, Ni, Cu, Zn
The Viken Deposit is situated approximately 570 km northwest of Stockholm in Jämtland province, Sweden. In 2005, Continental Precious Minerals Inc. (CPM) acquired mineral licenses, conducting drilling from 2006 to 2008 (26,293 m in 133 holes) to delineate the polymetallic Viken Deposit within the Cambrian Viken Shale.
Viken is among the world's largest deposits in terms of total historic mineral resources of uranium and vanadium. It also includes large quantities of nickel, copper, zinc, potash and molybdenum.
Sweden's Government expresses robust support for nuclear power and prioritizes energy security. A moratorium on uranium mining and exploration, instituted in 2018, is currently in effect. However, the Swedish Government is favorably inclined towards reassessing and potentially lifting the moratorium. Despite the moratorium, exploration, development, and mining of the Viken Deposit remain feasible under the current Swedish Minerals Act. Notably, uranium recovery in a mining scenario is presently prohibited under the existing mineral legislation.
Leading Edge Materials - Norra Kärr
Ticker: STO: LEMSE
Category: Rare Earth Elements
The Norra Kärr deposit is a significant mineral deposit located in Sweden. This deposit is known for its concentration of rare earth elements (REE), which are vital components in various technological applications. Norra Kärr is situated in the Bergslagen mining district in southern Sweden. The deposit contains a variety of rare earth elements, including but not limited to cerium, lanthanum, neodymium, and yttrium. These elements are crucial for the manufacturing of electronic devices, renewable energy technologies, and other advanced materials.
Project Highlights
Pre- and post-tax Net Present Value (NPV) of $1,026M and $762M using a 10% discount rate
Pre- and Post-tax Internal Rate of Return (IRR) of 30.8% and 26.3%
Life of Mine (LOM) is 26 years
LOM average annual
Mining rate of 1,150,000 tonnes
strip ratio of 0.32
TREO 5,341 tonnes
Main magnet rare earth oxides (“MagREO”) (Nd, Pr, Dy, Tb) 1,005 tonnes
Dy2O3: 248 tonnes
Tb2O3: 36 tonnes
Nd2O3: 578 tonnes
Pr2O3: 143 tonnes
Nepheline Syenite co-product 732,885 tonnes
Zirconium dioxide co-product 10,200 tonnes
Niobium oxide product 525 tonnes
Alicanto Minerals - Sala
Ticker: ASX: AQI
Category: Ag, Zn, Pb
Alicanto’s Sala Project is comprised of several exploration permits covering an area of 91km2 prospective for zinc and silver. Sala is located 85km 50km away from Boliden’s operating Garpenberg mine.
The Sala mine was previously one of the largest and highest-grade silver mines in Europe. Mining commenced at the end of the 15th century and continued until the mine closed in 1908. During its operational life, Sala is estimated to have produced more than 200 million ounces of silver at an estimated average grade of 1,244g/t, with silver grades reported as high as 7,000g/t.
There has been very limited exploration at Sala since the closure of the mine. Alicanto has completed over 28,000 m of diamond drilling and reviewed over 35,000 m of historical drill core, which continues to encourage the Company’s view of the ongoing prospectivity at Sala.
In just over twelve months of exploration, Alicanto successfully defined a maiden Inferred Resource of 9.7Mt @ 4.5% Zinc Equivalent (containing over 311,000t of zinc, 15Mozs of silver and 44,000t of lead) including a coherent near surface high-grade breccia zone dominated by semi-massive sphalerite containing 4.5Mt @ 6% Zinc Equivalent (containing 201,000t of zinc and 8.5Mozs of silver).
Alicanto Minerals - Falun
Ticker: ASX: AQI
Category: Cu, Au, Ag, Zn, Pb
The historical Falun mine was one of the major base and precious metal sulphide deposits in Sweden. During its operating life, Falun produced approximately 28Mt @ 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver.
The mining operation dates back over 1,000 years to the Viking age and continued up to 1992 when the mine closed. At its peak, the Falun mine accounted for 70% of the western world’s production of copper. Many of Europe’s greatest buildings, including the Palace of Versailles, sourced the copper for their roofing from the Falun mine.
Alicanto holds permits covering an area of 312km2 which include the historic Falun mine and surrounds. Within these permits, Alicanto controls over 60km of the target limestone horizon. Alicanto has long held the view that the historical Falun mine is only a small part of a major mineralised belt stretching over 10km within its Falun permits. Very little exploration has been undertaken in the Falun area since the closure of the mine in 1992.
High Priority Copper-Gold Targets At Falun
Grängesberg Exploration - Dannemora
Ticker: STO: GRANGX
Category: Fe
Location: Östhammar
GRANGEX Dannemora aims to be the first producer of high-quality iron ore concentrate in the European Union with the lowest carbon footprint. GRANGEX intends to restart the Dannemora mine in Östhammar municipality in 2025.
GRANGEX’s goal fulfillment takes place through a comprehensive requirement during project development that all equipment and all production methods – if practically possible – aim to eliminate emissions of carbon dioxide. All consumables such as hydraulic oils, lubricating oils and the like must be fossil-free. The positive results presented in the feasibility study show that a very high iron ore concentrate can be produced at Dannemora, most likely over a more extended production period than what was shown in the feasibility study, and probably with the lowest carbon footprint in the market.
Resource table:
Barsele Minerals - Barsele
Ticker: CVE: BME
Category: Au
Barsele Minerals owns 45% of the Barsele Gold Project, located approximately 600 km north of Stockholm and 20 km southeast of Storuman in Northern Sweden, spans over 47,000 hectares. Operated by Agnico Eagle since late 2015, the project has seen significant exploration with 155,345 meters drilled from 404 holes, in addition to 414 holes drilled by previous operators. The focus has been on defining, verifying, and expanding mineral resources within the Avan-Central-Skiråsen "Orogenic Gold" system and the Risberget Zone. Recent drilling in 2019 targeted the discovery of massive sulphide mineralization, akin to the historic Norra VMS deposit within the claims.
United Lithium - Bergby
Ticker: CNSX: ULTH
Category: Li
The Bergby Project is a newly discovered Lithium deposit in central Sweden, near to the world famous Woxna graphite. The property is prospective for near-surface lithium mineralization observed in surface boulders and outcrops, positioning the property for cost effective extraction potential.
- 1.92% Li2O over 26.80 m from 3.60 m depth (hole BBY23132)
- 1.82% Li2O over 12.97 m from 14.05 m depth (hole BBY23138)
- 1.96% Li2O over 9.68 m from 38.87 m depth (hole BBY23141)
- 1.05% Li2O over 23.75 m from 75.96 m depth (hole BBY23155)
- 1.01% Li2O over 8.01 m from 22.89 m depth (hole BBY23150)
- 0.86% Li2O over 14.45 m from 35.23 m depth (hole BBY23152)
Significant exploration potential still exists on the property, with at least one-third yet to be explored. Multiple unsourced spodumene-bearing boulder trains have been identified, warranting further investigation.
Bluelake Mineral - Rönnbäcken
Ticker: STO: BLUE
Category: Ni, Co, Fe
Location: Västerbotten
Rönnbäcken is Europe's largest known undeveloped nickel resource and located in the county of Västerbotten in Sweden. According to a recently updated mineral resource estimate by the mining consulting company SRK, the Rönnbäcken project contains a mineral resource of 600 million tonnes with an average grade of 0.18% Ni, 0.003% Co and 5.7% Fe (“measured and indicated”). A preliminary economic assessment which SRK also completed predicts a production of 23,000 tonnes of nickel, 660 tonnes of cobalt and 1.5 million tonnes of iron per year for 20 years, which would be a significant proportion of Sweden's total annual use of nickel which thereby has a strategic value.
Gungnir Resources - Knaften
Ticker: CVE: GUG
Category: Au
Knaften is located at the south end of the “Gold Line” (or Knaften-Barsele Arc). The Gold Line hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and the Barsele Gold-VMS project (Agnico Eagle JV).
Location Map, Knaften Property:
The target is the bedrock source(s) of the large Knaften gold-in-till anomaly (“Knaften anomaly”), one of the largest in Sweden. The bedrock source is believed to be partially identified, but based on the sheer size of the Knaften anomaly it is reasonable to expect more gold to be found in situ. Other gold-in-till anomalies in the region cover either current and past-producing gold mines or known gold resources.
The Company recently expanded Knaften project to 4,887 hectares (or nearly 50 sq. km) to now cover the entire prospective quartz diorite intrusion (4 x 5 km) which is comparable in size to that hosting Agnico Eagle’s Barsele gold deposit located to the north along the same gold corridor. The intrusion has only been drill-tested along its very northern edge resulting in discovery of the Knaften 300 gold zone (“Knaften 300”), results include:
14.07 g/t Au over 4.25 m (from 138.75 to 143.00 m) in hole KN19-06 - includes 59.6 g/t Au over 1.00 m
5.39 g/t Au over 2.00 m (from 98.00 to 100.00 m) in hole KN19-09
3.45 g/t Au over 10.75 m (from 67.05 to 77.80 m) in hole 96009
3.20 g/t Au over 10.00 m (from 83.50 to 93.50 m) in hole 200707
2.92 g/t Au over 13.00 m (from 81.5 to 94.50 m) in re-sample 200707
3.11 g/t Au over 8.00 m (from 135.80 to 143.80 m) in hole 200714
2.13 g/t Au over 14.45 m (from 55.00 to 69.45 m) in hole KNA01001
2.01 g/t Au over 6.70 m (from 190.50 to 197.20 m) in hole 200710
2.89 g/t Au over 5.00 m (from 118.80 to 123.80 m) in hole 200715
Goldline Resources - Paubäcken & Solvik
Ticker: CVE: GLDL
Category: Au
Paubäcken
The Paubäcken Project encompasses three contiguous licenses spanning 17,000 hectares in the central region of the Gold Line belt. Strategically situated between Barsele and Fäboliden, the project shares borders with the previously productive Svartliden mine, featuring an operating mill just 3 km to the southwest. The project capitalizes on 22 kilometers of the significant "Gold Line" structure, traceable for over 200 kilometers in regional geophysics data.
Mineralization discovered so far exhibits a spatial association with this structural corridor, primarily occurring on second and third-order splay structures.The focal point of the Paubäcken Project is the Aida target, positioned three kilometers northeast of the operational Svartliden plant. Identified through magnetic geophysics data, the Aida target comprises a >5 km shear corridor. In 2021, regional top-of-bedrock drilling unveiled gold and pathfinder anomalism coinciding with the structural corridor. The maiden drill program in November 2021 intersected 22.5 meters of 2.4 g/t Au in hole PAU-21-003, situated within a sheared and altered basalt unit within the structural corridor.
Solvik
The Solvik Project covers 9,240 hectares across ten licenses in the Mjøsa-Vänern Belt of southwest Sweden, extending into Norway. Historical mineralization exists, but modern exploration by Agnico Eagle has revealed promising results, including a notable 19.4-meter interval with a gold grade of 2.5 g/t at the Solvik target. Geologically, Solvik is marked by metasedimentary and volcanic assemblages surrounded by granitoids and gneisses, with mineralization occurring at the intersection of second-order structural corridors in quartz-carbonate veins associated with sericite and pyrite alteration. The belt, highly tectonized, presents a framework of thrusts and faults influencing mineralization.
Norrland Gold - Vittanträsket
Ticker: CVE: NORR
Category: Au
The Vittanträsket tenement is situated within the Gold-line, an area renowned for orogenic gold deposits such as Barsele and Svartliden. Notably, Vittanträsket stands out as the most significant geochemical anomaly in the Gold-Line. This region encompasses both the Gold-line and Skellefte district, featuring substantial gold anomalies over recognized deposits at Boliden, Barsele, and Vittanträsket.
The gold-in-till anomaly at Vittanträsket exhibits a higher magnitude and shares the same signature as those found in close proximity to known gold deposits in the region.
Norden Crown Metals - Gumsberg
Ticker: CVE: NOCR
Category: Zn, Ag, Pb
The Gumsberg project is located 30 kilometers south of the historic Falun Mine (Zn-Pb-Cu-Au) and 30 kilometers west of Boliden’s Garpenberg Mine (Zn-Pb-Cu-Au-Ag).
Gumsberg covers over 18,000 hectares in the Bergslagen mining district of Sweden, one of Europe’s oldest mining districts. Multiple historic mines within the Gumsberg project area were developed on Volcanogenic Massive Sulfide (VMS) style mineralization, including the Osträsilvberg mine, one of Sweden’s key silver producers in medieval times.
A key feature of the mineralization is the occurrence of massive to semi-massive sulfide intervals within an extensive sequence of highly magnetic iron and manganese-rich chemical sediments. This robust and distinct sequence of chemical sedimentary rocks serves as a crucial marker horizon, enabling the tracking of mineralization along its strike and at various depths. Subsequent diamond drilling activities at Fredriksson Gruva will focus on assessing the continuity of Broken Hill Type (“BHT”) style massive sulfide mineralization and associated iron formation beneath the historical mine workings. Ongoing 3D geological modeling has indicated that silver zinc-lead mineralization extends to at least 290 meters in depth.
Fredriksson’s Mine historic drill results:
