Ultramafic Ni-Cu-Co-style Ni-Cu-Co · Au project of roughly 69.0 km² in Central Norway.
Teako’s 100% owned Velfjord Project covers 69 km2 and is located northwest of Tosenfjord and 33 km southeast of Brønnøysund, Nordland. The project benefits from excellent infrastructure and nearby fjord access.
The licence area lies within the Helgeland Nappe Complex, comprising granites, metasedimentary rocks (mica schists, metasandstones, quartzites, calc-phyllites, marbles, conglomerates), and minor ophiolitic bodies (ultramafic rocks, gabbro, greenstone) The ophiolitic rocks contain peridotites hosting Ni-Co mineralization. The average sulphide-bound Ni and Co grades were reported by the NGU at 0.16 % and 0.01 %, respectively, with pentlandite and pyrrhotite identified as the principal host minerals1. According to the NGU, the Ni content of the 100 % sulphide phase averages 2.9–3.7 %1. Mineralization textures observed in the study indicate a post-magmatic sulphide origin, likely resulting from interaction with sulphide-bearing metasedimentary rocks (Ihlen et al., 2018).
Within the licence area, three Au occurrences (Lande, Sausvatn, Landgrunnvatn) are known, with Lande reporting up to 11.6 ppm Au1.
Project scale prospecting to confirm the varying mineralized systems is required. Comparative geochemistry with surrounding deposits, UV prospecting, and geophysical surveys (EM, IP, magnetic) and stream sediment sampling are recommended to refine exploration 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
2017.037: Ihlen et al. (2018). Evaluation of Ni-Cu occurrences in the Uppermost Allochthon of the Scandinavian Caledonides of Nordland, I: Field relationships.
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.