VMS-style Cu-Zn project of roughly 19.0 km² in Central Norway.
Teako’s 100% owned Undal base metal project encompasses 19 km2 and is situated near the E6 highway close to Berkåk, Trøndelag and covers the historic Undal Mine operated intermittently between 1668 and 19712.
Mineralization is hosted within graphitic phyllites of the Undal Formation (Gula Nappe) with a greenstone unit occurring about 100–120 m above the orebody. The occurrence comprises two massive sulphide lenses traced for ~600 m down-dip. Mineralization is dominated by pyrite and pyrrhotite with chalcopyrite and sphalerite, as well as accessory galena, magnetite, ilmenite, and molybdenite. Historic production totalled ~279 kt, with final operating grades of ~0.9% Cu and 1.0% Zn (NGU 2026)2. Recent exploration by Kuniko Norge AS (2021–2024) included SkyTEM, ground EM, mapping, and soil sampling (Kronsell, 2025). An additional sulphide occurrence, Nylykkja, lies 1 km north of Undal and shares a similar geological setting. Exploration will focus on locating the displaced continuation of the ore lenses across fault structures, using geophysics and diamond drilling. The stratigraphic horizon that hosts the deposit should be prospected for additional lenses, including the area between the Nylykkja occurrence and the mine site.
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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
BV10176: Kronsell (2025). Report for Undal-Nyberget.
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.