Moberg copper project

Teako’s 100% owned Moberg project covers 19 km² and is part of the Eikland Base Metals District in Tokke Municipality, Telemark. The project contains Cu, Zn, Pb, Mo, Mn, Ag, and Au occurrences². The district has a long mining history, with notable past producers.

The geology is dominated by the Bandak Group (~1.16 Ga), consisting of volcanic and sedimentary rocks, including quartzites and mafic to felsic lava flows. Minor Seljord and Rjukan Group rocks are present. The district was heavily affected by the Sveconorwegian Orogeny (~1140–960 Ma), producing folding, faulting, and late granitic intrusions (Laajoki, 2002).

At Moberg, folded greenstones occur with sandstone, and magnetic highs correspond to the greenstone units. Mineralization occurs around the fold hinge and along the eastern limb, primarily as bornite with minor chalcopyrite, molybdenite, and silver. The four historic workings – Aslestad, Slystøyl, Grusen, and Moberg – report average Cu grades of 1.75%, 0.99%, 6.95%, and 5.62%, respectively (NGU ore database)¹. Grusen hosts bornite along ~15 cm branching quartz veins extending 1–2 m, with scattered molybdenite. Moberg is a priority target due to high copper grades and potential undiscovered mineralization.

Initial work should verify grades through sampling, followed by detailed geological mapping of fold hinges and limbs. High-density geochemical and high-resolution geophysical surveys (EM/IP) are recommended to define drill targets.

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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

‌Laajoki, K., Corfu, F. & Andersen (2002), T.: Lithostratigraphy and U-Pb geochronology of the Telemark supracrustals in the Bandak-Sauland area, Tele mark, South Norway. Norsk Geologisk Tidsskrift, Vol. 82, pp. 119-138. Trondheim 2002, ISSN 029-196X.

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