Berkut Minerals wins Lainejaur Cobalt mine licence in Sweden
Berkut Minerals has secured an exploration licence for the Lainejaur Nickel-Cobalt-Copper project in northern Sweden.
The project lies 15km from Mala municipality at the north-west end of Skelleftea mineral belt.
The Lainejaur project comprises a Ni-Co-Cu mine discovered in 1941 and brought into production to supply nickel for Sweden during the Second World War.
At the time of closing the mine in 1945, it contained two shafts extending to 213m below surface, producing around 100,526t of ore at 2.21% Ni, 0.1% Co and 0.93% Cu.
Berkut Minerals managing director Neil Inwood said: "The Lainejaur Project presents an advanced and attractive near-mine exploration opportunity for the company which can be tested by down-hole geophysics and drilling.
"There is massive and semi-massive sulphide mineralisation open at depth in an untested extension up to 1.5km in length. Additionally, our substantial land holding in the surrounding area will allow us to explore for repeats of the known mineralisation."
In the period between 1945 and 2002, the project saw limited activity.
Blackstone Minerals later drilled 39 holes for around 13,200m in 2007 and 2008, resulting in the definition of a NI43-101 compliant inferred resource of 645,000t at 1.33% nickel, 0.09% cobalt and 0.66% copper.
Berkut has gained whole ownership of ground measuring 42km² around the project area.
The company is planning to perform down-hole geophysical surveys in the northern-most drill line, where significant sulphides were intersected in drillhole LAI-08-34.