Finland

Kostonjarvi Project

Kostonjarvi (“KS”) Project: Nickel-Copper-PGE

Status

  • 100% owned, Tier 1 Project.
  • Available Joint Venture.

Target

  • De-risked Chonolith hosted massive sulphide target having extremely high metal tenor.
  • Potential for a Norilsk style magmatic sulphide Ni-Cu-PGE mineralization.

Location and Setting

The Konstonjarvi (“KS”) Project is an early stage exploration property that is contiguous with the Company’s LK Project but comprises a very different geological target and is thus considered a different project. (Figure 1).

KS is located in North-Central Finland approximately 60 km north of the village of Taivalkoski some 130 km southeast of the town of Rovaniemi and 160 km northeast of the port city of Oulu. It is accessed by major paved roads with locally accessed on gravel and/or dirt roads.

Map Of Ks And Lk Projects
Figure 1. Location Map of KS and LK projects.

Land Status

The 100% owned KS Project comprises an Exploration Permit Application covering 16,000 hectares. There are no NSRs on the Project.

Geology and Mineralization

The KS Project target is high-grade massive sulphide mineralization in a chonolith feeder system (feeder dike) of the Koillismaa Complex, assumed to be similar to a Norilsk or Voisey’s Bay type deposit. Indicators of the chonolith are gravity and magnetic anomalies (Figure 2, 3 and 4) that suggest accumulation of ultramafic rock at depth, combined with one drill hole that encountered ultramafic rocks at depth. 

In 2020 and 2021, the geological survey of Finland (“GTK”) drilled one hole as part of the Koillismaa Deep Hole project about ~5km east of the KS Project and in an area where the chonolith / feeder is interpreted to be deepest (up to 3 kilometers).  The hole confirmed that the gravity anomaly contains the desired ultramafic cumulate rocks (Figure 5) at approximately 1,400 meters. The hole was originally intended to be up to 3,000m deep unfortunately the hole was lost at 1,722 meters depth before the full width of the anomaly was drilled through. Therefore, the basement contact of the chonolith was not intersected and it is in this location that massive sulphides could have accumulated. Historic sesimic data suggest the Chonolith feeder system shallows to the west, on the KS project, as it heads toward Koillismaa Complex.

The pseudoconglomerate (Figure 1, and 6) mapped from the KS Project area is assumed to be an indication of a deeper magma feeder system. Pseudoconglomerate (a local term), is thought to have formed when the granitic rocks were brecciated and partially melted  after being exposed to high temperature and pressurized fluids,produced  by high magma flux in the underlying chonolith / feeder system. The pseudoconglomerate unit may mark an old Archean fault that the chonolith / feeder system exploited when it intruded in the Paelo Proterozoic.

The KS project is of particular interest due to the abundant evidence of significant magma flow. The KS chonolith / feeder may not only have fed the Koillismaa Complex but also the Portivarra Complex and other Paleoproterozoic continent rift related intrusion. An environment of this type is very favourable for the accumulation of Voisey’s Bay or Norilsk type massive sulphides. Additionally, since the LK projects hosts very high tenure sulphide (84 g/t total-precious-metals, 10% nickel and 13% copper in 100% sulphide) if massive sulphide could be found with similar tenors at KS then the in-situ value could be extraordinary high.

Ks Fig2
Figure 2. KS and LK property boundaries showing the very strong gravity anomaly which defines the chonolith target.
Ks Fig3
Figure 3. KS and LK property boundaries showing the very strong magnetic anomaly which defines the chonolith target.
Ks Fig4
Figure 4. 3D modelling by Geological Survey of Finland from seismic profiles over the KS Chonolith.
Ks Fig5
Figure 5. Drill core samples of ultramafic rocks intersected by Geological Survey of Finland’s deep hole: (a) pyroxenite from 1,430m and (b) peridotite from 1,545m.
Ks Fig6
Figure 6. Pseudoconglomerate formed by partial melting of orthogneiss along the crest of the gravity anomaly, representing significant heat flux associated with the chonolith.
Simplified Voisey S Bay Long Section
Figure 7. Simplified Voisey’s Bay Long Section.

Proposed Exploration Program

An MT survey is proposed to assist with targeting a drill program to test the base of the chonolith where it is believed to shallow on the western portion of the KS project. Thereafter, it is proposed to conduct diamond drilling and a down hole Electro Magnetic (“EM”) survey to explore for massive nickel-copper-PGE mineralization.

Agreement and Terms

The property is unencumbered.