The Lomunda-Venna Projects
Location
Central Norway
Stage
Greenfield and Brownfield
Deposit type(s):
High-Grade Copper-Cobalt-Zinc Massive Sulfide
Description
The Lomunda concessions, covering 406 sq. km, lie immediately to the SW of the past-producing Løkken copper-zinc mine, whereas the Venna concessions, covering 497 sq. km, cover a significant strike extension of similarly prospective stratigraphy to the NE of Løkken. The primary target types at Lomunda and Venna are high-grade copper-cobalt-zinc massive sulfide (“VMS”) deposits, with copper and cobalt being critical components in batteries and the transition to green energy. The newly granted exploration claims are 100% owned by Teako and will have no minimum work commitments or landholding costs in 2024. The two new Projects, in conjunction with the copper-cobalt Vaddas project in Northern Norway, have been established as the Company’s three main projects in Norway.
The Lomunda and Venna projects are located approximately 50km SW and 30km SE, respectively, of the regional administrative centre of Trondheim, Trøndelag Province, central Norway. Lomunda also lies immediately to the SW of the former Løkken mining district (reported historical production of 24MT @ 2.3% Cu + 1.9% Zn1), whilst the Venna project covers similar prospective stratigraphy to the NE of Løkken (Figure 1).
Figure 1: Lomunda & Venna Exploration Claims
The Løkken VMS district lies within the so-called Caledonian orogeny of Norway, which is interpreted to have extended from the productive VMS districts in NE Canada (Bathurst Mining Camp, New Brunswick; Buchans District, Newfoundland) and the Appalachian US to northern Norway. Mineralization at Løkken is hosted by a sequence of Ordovician-age metabasalts (mixed pillow and massive basalts) within an overturned ophiolite (ancient sea floor crust) sequence (figure 2).
Figure 2: Location of the Løkken deposit in the Caledonian orogeny (bottom) and mine-scale geology (top).
The former Løkken mine is a stratiform massive sulfide deposit characterized by its impressive dimensions – approximately 4 km in length, a maximum depth of 1 km, and an average thickness of 60 meters (picture 1). Its rich mineral composition predominantly consisted of chalcopyrite, sphalerite, pyrite, and pyrrhotite. Given the geological propensity for these deposits to occur in clusters, there is a high likelihood of additional undiscovered deposits within the broader district. The Løkken deposit was discovered from a subtle massive sulfide outcrop which measured less than 1m in width (picture 2).
1 Historic production values quoted for Løkken are from Grenne T, Ihlen PM, Vokes FM (1999) Scandinavian Caledonide metallogeny in a plate-tectonic perspective. Mineral Deposita 34:422–471, TMIN has not performed sufficient work to verify the published data reported above, but the Company believes this information to be considered reliable and relevant.
The proximity of the Lomunda claims to the former Løkken mine places the Company in an advantageous position to explore potential extensions of this prolific deposit. Similarly, the Venna project is located within the same mineral belt northeast of Løkken and presents a promising opportunity for discovering new deposits.
Picture 1: 3D model of Lokken (looking from East – the shallowest part – to the West – the deepest part
Picture 2: The Løkken Discovery Outcrop <1m of Massive Sulfide
A systematic field program announced on July 9, 2024, will be guided by historical geological/geophysical data and newly acquired high-resolution airborne geophysics data from a survey completed in the Venna area by the Norwegian Geological Survey, released in early 2024. The primary objective of this systematic field evaluation will be to prioritize areas with the potential for the discovery of high-grade Løkken-type massive sulfide (“VMS”) deposits and to identify potential drill targets.
The geology of these two regions (Figure 3) is dominated by a package of basalts, gabbros, and metasedimentary units of varying types. The similarities in the geology confirm the potential for further mineralization similar to that identified at Løkken.
Figure 3: Geology map of Lomunda and Venna
The geological similarities are also confirmed when comparing the newly released regional magnetics data provided by the NGU for the Venna area. The datasets appear to correlate well with the geology and highlight the resemblances of the two areas (Figure 4).
Figure 4: Magnetics data for Lomunda and Venna hot colours indicating magnetic highs, cooler colours indicating lows
This could potentially indicate further deposits like that of Løkken could be within the geological packages Teako has staked at Lomunda and Venna. A lot of work has been undertaken historically around the Løkken area and Lomunda claims, whilst less information is known about Venna with limited NGU resources available until recently. However, the new geophysics data has confirmed the similarities to the Lomunda area.
Location and Access
Both projects boasts well-developed public road networks.