The Kylmäkangas Au-Ag deposit is the largest know gold occurrence in the underexplored Oijärvi Greenstone Belt. The Kylmäkangas deposit has a NI 43-101 compliant Indicated and Inferred resource of 311,000 AuEq ounces grading at 3.6 g/t AuEq published in 2022. A total of 19,580 metres have been drilled on the deposit in 75 diamond holes.
The Kylmäkangas deposit is a shear zone hosted orogenic gold deposit. Known mineralization occurs over a 1.5 km strike within a NE/SW striking high deformation shear corridor that forms a second order splay off the main Karakha shear corridor. The deposit is hosted within an Archean sequence of ultramafic to mafic volcanic rocks and biotite schists that are intruded by pre to syn-kinematic quartz-feldspar-porphyry felsic intrusions. The lithologies are intensely folded and sheared and metamorphosed to amphibolite facies. The deposit is located in a dilatational jog and controlled by rheological contrast along the margin of the felsic intrusion.
The “Main Mineralized Zone” several parallel zones consisting of quartz-sericite-breccia and brittle quartz veins. Major ore minerals include chalcopyrite, galena, tetrahedrite-tennantite, sphalerite, and tellurides within quartz-carbonate veins and breccias. Mineralization is open along strike in both directions and to depth within steeply dipping ore shoots plunging shallowly to the NE.
Resource Expansion Potential.
The Kylmäkangas deposit is drilled to an average depth of only 215 vertical metres and there is significant opportunity for resource expansion. With a modest exploration program the company will work toward doubling the existing resource and progressing toward delivering a Preliminary Economic Study (PEA) in the medium term and moves the company from an explorer to resource development stage
Total maiden Indicated Resource of 159,000 AuEq (Au + Ag equivalent) ounces: 1.07 Mt grading 4.6 g/t AuEq.
Total Inferred Resource of 152,000 AuEq ounces: 1.63 Mt grading 2.9 g/t AuEq.
Significant expansion potential in multiple directions along strike, down plunge, down dip and within parallel zones.
Geologically constrained based on lithology, structure, and alteration
Resource based on 67 drill holes totaling 17,678 m
7 mineralized zones modelled
100% of Indicated Resource in Lode 1
80% of total Resource in Lodes 1 and 2
Geological modelling and MRE completed by AFRY Finland Oy
Mineralized zones and MRE completed using Leapfrog Geo and Leapfrog Edge software
Resource drilled to an average depth of 215 m depth and is open down-plunge and down-dip
Multiple high grade shoots identified plunging to the northeast
Resource identified over 1.5 km strike and open for expansion in both directions along structural corridor
2022 high resolution UAV magnetic geophysics survey aimed at targeting similar anomalies along strike and on parallel shear corridors within the Oijarvi Belt