Finland gold projects
Finland is second only to Western Australia in the world for mining investment based on the Investment Attractiveness Index. It has also become the European Union’s top producer of Gold over the last decade.
NewPeak acquired 100% of 7 Gold Exploration Permits in the Tampere Gold province in southern Finland. To complement the Tampere suite of permits, NewPeak recently finalised the acquisition of additional Gold permits in the area from Sunstone Metals (Somero, Luutasio, Palikkala, Perämäki) .
The suite of projects lie in a region which currently hosts three Gold mines (Orivesi, Jokisivu and Kaapelinkulma) with a processing facility at Vammala, all operated by Dragon Mining Limited (HKEx: 1712).
The initial Tampere Gold Project includes Hopeavuori (2 permits), Isovesi, Järvenpää, Kalliojärvi, Lavajärvi and Metsäkylä (refer Figure), which cover a total area of 286Ha.
All 7 of the permits have been explored by Sotkamo and the Finnish Geological Survey through surface mapping, moraine geochemistry, ground geophysics (magnetics and IP) and diamond drilling.
The work has been confined to shallow, near surface testing of outcropping mineralization and does not necessarily reflect the true extent of the mineralized structure.
Hopeavouri is the most advanced prospect of the Tampere suite. 54 shallow diamond holes (3,341m) have been drilled to evaluate a mineralized structure 30m wide that extends over the drilled strike length of 300m.
The surface geophysics suggests that this zone could extend to the northwest for a total of 800m. Drilling has only tested to 75-100m below surface. Within this zone there are 132 anomalous mineralized drilling intercepts with some of the best including:
R305: 11.5m at 19.4 g/t Gold from 30.6m depth;
R313: 10.7m at 14.4 g/t Gold from 4.0m depth;
R330: 3.0m at 106.7 g/t Gold from 22.0m depth.
The Hopeavouri permits are now granted, which allows NewPeak to further drill the area to progress and develop the highly prospective Gold Project.
Satulinmäki is the most advanced prospect of the acquired projects from Sunstone Metals. Drilling at the Satulinmäki Gold prospect has been recently completed. A total of 10 diamond drill holes for 1,955m was completed over the course of the drilling program. Drilling focused primarily on the main mineralisation zone identified in previous drilling, specifically a NE-SW trending corridor. The aim of the drilling in this area was to delineate apparent structurally controlled, high grade shoots within the southwest 300 x 200m portion of the corridor.
Two drill holes targeting anomalies defined in geophysical and geochemical studies were also drilled. These geophysical and geochemical studies have mapped sulphides and chemical markers, often associated with Gold mineralisation, over a much larger footprint. For the NE-SW trending corridor the geophysical anomaly extends for a length of at least 750m. Whilst core processing and analysis is still ongoing, encouraging visual mineralisation has been intersected across the mineralised corridor.
The overriding objective of this work is to discover and define a Gold Resource to JORC standards within Finland. NewPeak invites shareholders and interested parties to watch this space. Please subscribe to our email out or twitter feed (@ASX_NPM) to keep abreast of advancements.
For more information, please contact us at info@newpeak.com.au