The Kylmäkangas deposit at the Oijärvi Project is the largest know gold occurrence in the underexplored Oijärvi Greenstone Belt – potential exists to identify multiple other deposits across this belt.
Mineralised shear zone with Au-Ag is over 1.8km long, open in all directions Inferred resource 1.89Mt. @ 4.11 g/t Au and 31.1 gt/Ag for 250 489 oz Au and 1,896 ,038 oz Ag 232 Au-intercepts in drilling where Au greater than 2 g/t
Historical resources at the Oijärvi project provides foundation to grow and underpins valuation
- Historical inferred mineral resource at the Kylmäkangas deposit of 250koz Au at 4.11 g/t Au and 1.9Moz Ag at 31.11 g/t underpins the company’s valuation through a physical measurable metric.
- Potential of finding >1Moz Au and >7Moz Ag deposit in the area is indicated by three Au occurrences in the area. Main mineralization zone has been intercepted over a strike length of 1.4km. Based on the current data the Kylmäkangas gold mineralization could be classified either as an orogenic gold deposit or as a high sulphidation (HS) epithermal deposit metamorphosed under upper-greenschist facies conditions.
- Provides a historical resource base from which to grow and upgrade with drilling success – will accelerate the path to announcing a maiden resource at Gold Line and provides potential news flow / milestones
- The bedrock of the area is dominated by late Archean greenstones forming a discontinuous 80km long by 1-8km wide zone, with a 10km long branch towards the west in its central part
- At Kylmäkangas the drilling indicated the occurrence of two major loads. Load-1 is approximately 300m long by 1-10m wide and 215 meters deep, Load-2 is approximately 900m long and contain
ds 5 separate gold-bearing quartz veins.
- With a modest program and resource upgrade the company can work towards delivering an economic study (PEA) in the medium term that scopes out a mining operation – moves the company from an explorer to resource development stage.
Significant exploration upside potential to expand existing resource base
- Limited exploration has
beenhistorically been completed at the Oijärvi Gold Project beyond the current resource footprint, with only 292 shallow holes drilled to date for a total of 51,854m. Notable drill results include 22.6 g/t of Au and 126.3 g/t of Ag over 11m along hole.
- The thick shear zone remains open in all directions. One of the last drill holes drilled in 2010 intersected the same style of mineralization as the Kylmäkangas deposit extending the zone approximately 1.8km to the southwest. This may suggest that mineralization previously not identified exists along the entire shear zone
Potential to host
a multi-million ounces of Gold and Silver
- The main Kylmäkangas deposit hosts massive quartz-veins containing gold, silver and base metals along the mineralized shear zone, with gold anomalous sedimentary rocks present in the area.- The geological structures of the area, along with the thick shear zones and high-grade intercepts and faults, characterize a deposit of potentially multimillion ounces.