Vancouver — Re-analysis of old drill core has confirmed a high grade copper-gold intercept at the Lieteksavo target, part of the Norrbotten project in Sweden.
LKAB drilled 26 scout holes on the Lieteksavo target between 1983 and 1986. A total of six holes cut copper-gold mineralization along a 500-metre northeast-southwest-trending induced-polarization (IP) anomaly. This anomaly remains open along strike and is adjacent to a magnetic anomaly that continues to the northeast. The host rock has a total potential strike length of more than 10 km.
Mineralization consists of quartz-tourmaline, magnetite and copper sulphide minerals (chalcopyrite, bornite and chalcosite). It is hosted in a strongly altered, sub-vertical zone of mafic volcanics that has an apparent width of 50 metres.
South Atlantic is conducting follow-up magnetic, IP and electromagnetic geophysical surveys in an attempt to delineate the strongest concentrations of sulphide mineralization. Diamond drilling will test these areas this year.
The Norrbotten property is a good candidate for hosting iron-oxide copper-gold deposits. South Atlantic controls more than 800 sq. km of exploration permits along the 120-km Kiruna trend and has so far identified 10 targets for follow-up.
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