The Løkken project covers 112 km² around the historic Løkken mine in Trøndelag, held 90% by Teako, on the same ophiolite horizon that produced 24 Mt at 2.3% Cu and 1.9% Zn.
Teako’s 90% owned Løkken Property is a premier mineral exploration asset covering 11,400 hectares (112 km²) in the Orkland Municipality of Trøndelag County, Norway. Centred around the historic Løkken copper-zinc underground mine, the property is located approximately 65 kilometres south of Trondheim and benefits from highly developed regional infrastructure. This includes an operating shaft, former processing facilities, an electrified railway connected to the deep-water port of Orkanger, low-cost hydroelectric power, and extensive road networks. The remaining 10% interest in the Løkken project is owned by Capella Minerals Ltd. Teako secured its majority interest under a definitive agreement in August 2024.
- One of the largest ophiolite-hosted, Cyprus-type VMS deposits in the world by tonnage: 24 Mt mined almost continuously from 1654 to 1987 (Eilu, 2012)1
- Satellite deposits on the property: the Dragset and Høydal historic mines, on the same Early Ordovician Løkken ophiolite sequence
- Høydal: a zinc anomaly over 2,000 m of the interpreted mineralized trend, from Ionic Leach™ soil sampling and high-resolution ground magnetics (Scott, 2024)
- Established infrastructure: an operating shaft, former processing facilities, an electrified railway to the deep-water port of Orkanger and low-cost hydroelectric power
The Løkken deposit is recognized as one of the largest ophiolite-hosted, Cyprus-type Volcanogenic Massive Sulphide (VMS) deposits globally by tonnage. Discovered in 1654, the mine operated almost continuously until 1987, producing an estimated 24 million tonnes of ore grading 2.1% copper, 1.9% zinc, 19 g/t silver, and 0.2 g/t gold (Eilu, 2012)1. The property also encompasses several notable satellite deposits, including the Dragset and Høydal historic mines, which similarly exploited copper-zinc massive sulphide mineralization hosted within the Early Ordovician Løkken ophiolite sequence.
Despite its rich mining history, the Løkken district remains largely underexplored by modern systematic exploration. Historical exploration was heavily reliant on early geophysical methods that struggled to differentiate between economic massive sulphides and conductive, barren ‘vasskis’ (iron-formation) horizons.
Recent early-stage exploration programs utilizing modern techniques, such as Ionic Leach™ soil sampling and high-resolution ground magnetics, have successfully identified robust, untested copper and zinc anomalies.
An inaugural diamond drill program was completed at the Åmot and Høydal targets in the year to January 2026.
At the Høydal prospect, sampling delineated a strong zinc anomaly extending over 2,000 meters along the interpreted mineralized trend (Scott, 2024).
Teako have also reviewed a wealth of exploration and geological data for the area and have identified multiple early-stage exploration targets in addition to that previously known utilising geochemical and geological datasets.
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With clear evidence of mineralization developed across multiple stratigraphic horizons, the Løkken Property presents a compelling opportunity to apply modern exploration methodologies to uncover significant new VMS deposits in a proven, infrastructure-rich district.
1 Teako has not performed sufficient work to verify the published data reported above, but the Company believes this information to be considered reliable and relevant. References 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
Eilu, P. (ed.) (2012) ‘Mineral deposits and metallogeny of Fennoscandia’, Geological Survey of Finland, Special Paper 53.
Scott, A. (2024) Technical Report Løkken Property, Trøndelag County, Norway, Scott Geological AB.
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
Exploration-stage project. Any historical production, grades or estimates quoted in project descriptions are historical in nature, have not been verified by the Company as current mineral resources or reserves, and should not be relied upon. See the cautionary statements and the Qualified Person statement.