Sedex-style Cu-Zn-Pb project of roughly 16.5 km² in Northern Norway.
Teako’s 100% owned Veten Project comprises two licence blocks, covering around 17 km2 located west of the Rosta claims near Mo i Rana, Nordland. The project hosts three polymetallic sulphide occurrences (Holmholmen, Svalenget, Storvika) aligned along a northeast-southwest structural trend. Geologically, the project area is underlain by mica-schist and gneiss intruded by younger granitic bodies.
At Holmholmen, disseminated chalcopyrite-bearing mineralization extends over 250 m of strike. Boliden AB completed 16 diamond drill holes (587 m) during 1967–68, outlining an estimated resource of 74,500 t @ 1.01% Cu2. The Svalenget occurrence is hosted within a heterogeneous gneiss and muscovite-schist package. The mineralized zone strikes 380 m and reaches up to 2 m in thickness. Sulphides occur as both massive lenses and disseminations. Seven drill holes (364 m) returned 1.05 m @ 3.6% Zn, 0.6% Pb, 0.24% Cu, and 20 g/t Ag1. The Storvika occurrence lies between Holmholmen and Svalenget but has not been drill tested yet despite semi-massive sulphides with up to 3-4% chalcopyrite being observed (Zweifel, 1971)1.
The grades of the known deposits across the Veten licence clearly show the potential of this area. Modern exploration methods will be deployed over the licence area to identify continuations of this high-grade mineralization.
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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
BV5500: Zweifel (1971). Hemnesberg – Norge. Resultat av prospekteringsarbeten utførda 1967–1968.
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.