The company owns the former Pahtavaara gold mine and mill which produced 450,000 oz. of gold. It is in the Central Lapland Greenstone Belt, as is Agnico’s Kittila gold mine (the largest such mine in Europe). Drilling is currently focused on defining underground resources, particularly at depth.
The company has also made six new gold discoveries about 20 km to the west of the Pahtavaara mine. Perhaps the most important is Ikkari where the strike length has been traced for 650 metres on 80-metre drill centres, and the deposit is open in all directions. Metallurgical testing of samples from Ikkari indicate gold recoveries of 95% to 99%. A resource estimate is due this summer.
(This article first appeared in the Canadian Mining Journal)
