Leiteberget rare earth elements-thorium project

Teako’s 100% owned Leiteberget project covers 10 km² in the south of Norway and hosts a uranium bearing pegmatite in the Bagn sector¹. This pegmatite is assumed to originate from residual melt from the Flå granite (Lindahl 1983). The major uranium mineral here is Uraninite within the groundmass of the pegmatite and within fractures in the pegmatite. This style of mineralization is believed to be similar to other well-known pegmatites like Einerkilen and Rogaland². 

Pegmatites often form as swarms and it is likely other uranium bearing pegmatites are present in the area, though the scale cannot be known.  This pegmatite may present an opportunity for quick sampling and bringing new grades to the market as the NGU reports no analysis results.

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¹Teako has not performed sufficient work to verify the published data reported above, but the Company believes this information to be considered reliable and relevant. Results reported are maximum values and may not be representative of all samples collected within the area being evaluated

²References made to nearby mines and analogous deposits provide context for the regional targets but are not necessarily indicative that these targets host similar tonnages or grades of mineralization.

References

Lindahl, I. 1983: Classification of uranium mineralization in Norway. Norges Geol. Unders. 380, 12.5-142 NGUnr_380_Bulletin_70_Lindahl_125_142.pdf

References to the ‘NGU’ regard the ‘Norwegian Geological Survey’, in particular, their Resource Database and are consolidated under this citation for simplicity. For all data sourced from this resource, please refer to: https://geo.ngu.no/kart/mineralressurser_mobil/?lang=eng