Paubäcken

The Paubäcken Project consists of three contiguous licenses covering 17,000 hectares located in the central portion of the Gold Line belt.

The Paubäcken Project is strategically positioned between Barsele and Fäboliden and borders the past producing Svartliden mine with an operating mill located 3 km to the southwest. The Project contains 22 kilometres of the regionally significant “Gold Line” structure which can be traced for over 200 kilometres in regional geophysics data. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring mainly on second and third order splay structures.

The Paubäcken Project hosts the Aida target, which is located three kilometres northeast of the operating Svartliden plant. The Aida target consists of a >5 km shear corridor identified from magnetic geophysics data. Regional top of bedrock drilling in 2021 identified gold and path finder anomalism coincident with the structural corridor. A maiden drill program completed in November 2021 intercepted 22.5 m of 2.4 g/t Au in hole PAU-21-003 hosted within a sheared and altered basalt unit within the structural corridor.

The Geology of the Paubacken project consists of an inverted volcano-sedimentary sequence intruded by small pre- to syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. Lithologies are regionally metamorphosed to upper greenschist and amphibolite grade facies, and gold mineralization is associated with intense sericite, carbonate, biotite, and calc-silicate alteration assemblages and sulphide minerals arsenopyrite, pyrite, and pyrrhotite. These Lithological sequences are highly prospective for orogenic gold deposits.