Mining in proven areas

Tuna-Hästberg is an old mining area south of Borlänge, Sweden where mining has taken place from 1858 to 1968. Geological Survey of Sweden shows an average iron content of 30% and 4.27% manganese.

The Company has identified an abandoned open pit iron and manganese mine within this area that contain 41,4% of iron (Fe) and 3,75% of manganese (Mn). Work has started on an environmental impact statement for a future test mining in the open pit.

The company also plans to conduct more ground-based geophysical surveys and rock samples to find potential extensions and new areas within this mining are.

Sellnäsfältet is an exploration permit within a mining area in Borlänge municipality, Sweden with an iron content of 32.7%. Only two kilometers from this permits REE metals have been found.

The Company intends to carry out a magnetic survey on the Sellnäsfältet. If the magnetic survey is successful there may be some drillings to investigate the extent and levels of iron as well as potential REE metals.

The purpose of the permit is to investigate the potential extent of iron in the area and if it contains valuable REE metals. The company assesses that there is potential for REE metals in apatite iron ore within Sellnäsfältet.

Klintberget is an area of 85 hectares in Hagfors municipality, Sweden. Within this permit, high levels of copper and molybdenum have been found in small iron mines by Geological Survey of Sweden as well as by owner of previous exploration permit in the same area.

The Company intends to carry out a magnetic and electric surveys on the Klintberget to investigate the extent and strength of anomalies that may contain additional copper (Cu) and molybdenum (Mo).