Timo Maki, Vice President and Director, commented: “It took a long time, but we are pleased to finally receive this court’s decision, which has the expected outcome. Prior to the permit application at Harpavesi 8, the Kimara Trend project was North Gold’s most senior asset. And based on the several deposits and prospects that already exist from fairly minimal drilling along this 15km trend, especially given the high-grade potential found at depth. The Kimara Trend could eventually become an important future producing area. Drilling has been carried out. Interception of significant base metal grades not currently included in mineral resource estimates could lead to future production. value-added could be boosted.”
Additional information regarding mineral resources within the Harpavesi 8 exploration permit area
North Gold’s mineral assets within the Harpavesi 8 exploration permit area are detailed in an independent geologist’s report.
Overall, compared to the Swedish side of the Gulf of Bothnia (Swedish “Gold Line” and “VMS Trend”) or the equivalent gold belt,
These targets are currently drill-ready and will be immediately incorporated into ongoing planning work for future exploration, including the Company’s fast-growing 750,000 oz gold-equivalent Copsa gold and copper project. The main focus will continue to be on The Haapavesi 8 area is approximately 50 km north of Kopsa and has the potential for a future production satellite (together with Hirsican gas) to supplement primary production from Kopsa as part of the Central Ostrobothnian gold deposit due to synergies from shared infrastructure. There is sex.
Table 1: Overview of the company’s mineral resources. Indicates the new exploration permit status for the Kimara Project resource.
project | Exploration permit status | deposit | Resource type | resource category | M ton | Gold (g/t) | copper(%) | AuEq (g/t) | gold (oz) | AuEq (oz) |
copsa | granted | major | JORC compliant | Measurement and display | 14.44 | 0.88 | 0.16 | 1.11 | 406,400 | 513,700 |
Estimation | 6.24 | 0.89 | 0.19 | 1.18 | 178,700 | 235,700 | ||||
Project total | 20.68 | 0.87 | 0.17 | 1.13 | 585,100 | 749,500 | ||||
Kimara trends | granted | Angesneva | NI 43-101/JORC compliant | shown | 3.85 | 1.19 | — | 1.19 | 147,300 | 147,300 |
vesipera | Historic/Non-compliant | Not applicable | 0.29 | 2.52 | — | 2.52 | 23,500 | 23,500 | ||
Project total | 4.14 | 1.28 | — | 1.28 | 170,800 | 170,800 | ||||
Hirsicangas | Permitted, but a permit renewal procedure is required. | Hirsicangas | NI 43-101 compliant | Estimation | 2.27 | 1.2 | — | 1.20 | 89,000 | 89,000 |
Project total | 2.27 | 1.2 | — | 1.20 | 89,000 | 89,000 | ||||
Company total (includes past/non-compliance) | 27.90 | 0.96 | 0.13 | 1.37 | 844,900 | 1,009,300 | ||||
Company-wide total (JORC or 43-101 compliant only) | 27.61 | 0.94 | 0.13 | 1.36 | 821,400 | 985,800 |
Note:
- Resource tons are rounded to the nearest 10,000. Ounces contained are rounded to the nearest 100.
- Any discrepancies in totals or percentages are due to rounding effects.
Figure 1: Map showing the Kiimala Trend Gold Project
[See attachment for images]
Figure 2: Map of the exploration permit area of Harpavesi 8 and its aeromagnetic anomaly map.
[See attachment for images]
Competent/Qualified Person Statement
The technical information in this press release is
Please contact the Interim CEO for more information.
Henrik Löfberg
Email: ir@northgoldab.com
Website: www.northgoldab.com
Follow us: www.linkedin.com/company/northgold
about
Forward-looking statements
This announcement may contain certain forward-looking statements. Forward-looking statements are statements that are not historical facts and include statements that are not historical facts and include statements such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” or “might.” ” and “continue.” , “should” and other similar expressions. The forward-looking statements in this release are based on various assumptions, many of which are also based on additional assumptions. Although the Company believes that these assumptions were reasonable at the time they were made, they are inherently subject to significant known and unknown risks, uncertainties, contingencies and conditions that are difficult or difficult to predict. is subject to other important factors beyond our control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied by such forward-looking statements in this release. . The information, opinions and forward-looking statements contained in this communication speak only as of the date hereof and are subject to change without notice. The Company undertakes no obligation to consider, update, confirm or publicly release any revisions to any forward-looking statements to reflect events or circumstances that arise in connection with the subject matter of this announcement.
The information, estimates and forward-looking statements contained in this announcement are valid only as of the date of this announcement and are subject to change without notice. We undertake no obligation to consider, update, confirm or publicly adjust any forward-looking statements to reflect events or circumstances that occur with respect to the subject matter of this communication.