Nordic minerals – historical past and expertise meet – Useful resource World Journal

By Ron Corridor

The Nordic nations have lengthy been recognized for his or her wealthy deposits of minerals and ores, which have been mined for hundreds of years. Up to now, these sources have been used to assemble robust and sturdy buildings and to gasoline the economic system. In the present day, mining of minerals and ores within the Nordic area stays an necessary trade, although it has grown and advanced considerably through the years.

The Nordic nations are situated within the northern a part of Europe and encompass Norway, Sweden, Finland, Denmark, and Iceland. These nations are recognized for his or her chilly climates, however in addition they have among the most efficient mineral deposits on this planet. The most typical minerals discovered within the area are iron ore, copper, zinc, nickel, and gold. Different beneficial metals, akin to lead, silver, and uranium, will also be discovered within the area.

The most important mining corporations within the Nordic area are situated in Sweden and Finland. These corporations specialize within the extraction and processing of various minerals and ores. For instance, the Swedish mining firm LKAB is without doubt one of the main producers of iron ore on this planet. LKAB additionally produces copper, nickel, and zinc. The Finnish mining firm Outokumpu is the biggest producer of zinc in Europe and in addition produces copper, nickel, and gold.

The Nordic nations even have a protracted historical past of gold mining. Up to now, gold was mined within the area for the creation of cash, jewellery, and paintings. In the present day, gold mining remains to be a serious trade within the area, with quite a few corporations working in Finland, Sweden, and Norway.

Along with mining metals and ores, the Nordic nations are additionally recognized for his or her manufacturing of oil and gasoline. The most important oil and gasoline corporations within the area are situated in Norway and embrace Statoil, Equinor, and Aker BP. These corporations are accountable for almost all of Norway’s oil and gasoline manufacturing.

The Nordic area is residence to quite a few different minerals and sources, akin to timber, coal, and peat. Timber is used primarily for building and paper merchandise, whereas coal is used for electrical energy technology and heating. Peat is used for the manufacturing of peat-based fuels and fertilizers.

The mining of minerals and ores within the Nordic area is a crucial trade that contributes considerably to the economies of those nations. Because the demand for minerals and ores continues to develop, so too does the necessity for environment friendly and accountable mining practices.

The Geological Survey of Sweden (SGU), along with corresponding authorities within the different Nordic nations, produced a report highlighting the potential for extracting important metals and minerals (CRMs) akin to cobalt and lithium, used within the battery trade along with the mineral graphite, in addition to uncommon earth metals which, amongst different issues, are basic for engines in electrical automobiles and turbines in wind generators.

In keeping with the report:

The important uncooked supplies are in a number of instances of central significance for the inexperienced vitality transition. The novel technological transformation of society and trade – a inexperienced vitality transition – which is sought as we speak to scale back our carbon dioxide emissions and thereby counteract local weather change additionally entails new and, in lots of instances, sharply growing wants for varied uncooked supplies. So as to have the ability to produce, transport and retailer vitality in new, carbon dioxide-reduced and environment friendly methods, in addition to electrify areas that as we speak are based mostly on fossil-based expertise, such because the automotive sector, particular expertise is required that requires safe entry to quite a few equally particular uncooked supplies.”

The report discovered that in mineral-richness, the Nordic bedrock could possibly be in contrast with essentially the most mineral-rich areas of the world, akin to Canada, the USA, Brazil and Australia, and will provide virtually all of the important uncooked supplies outlined by the EU. The transformation of the present ‘high-carbon emission’ right into a ‘low-carbon emission’ society is a necessary a part of local weather change mitigation. On the core of that is what might be known as a ‘Inexperienced Vitality Transition’, an over- arching transition from non-renewables to renewables-based manufacturing, storage, transmission and use of vitality. It is a main technological change that features considerably growing demand for uncooked supplies of every kind which, mixed with the overall technological growth of society and trade, have already resulted in lots of globally main financial gamers, such because the EU, to outline units of mineral-based uncooked supplies as important (CRM). A uncooked materials is deemed ‘important’ whether it is of excessive significance to the economic system and if its provide is related to a excessive danger of disruption. Safe and resilient provide chains of the CRMs are important for the eco- nomic safety of any industrialised nation or bigger financial entity, the Nordic area included.

The report additional underlines that continued analysis and a joint Nordic database would make it simpler for decision-makers and companies to see the alternatives on this space.

Safe and resilient provide chains of the CRMs are important for the financial safety of any nation, together with the Nordic area and Europe, to facilitate a technological management. Most of the CRMs are moreover important in local weather change management, to attain a low carbon society. Within the context of the inexperienced vitality transition, recycling is way from sufficient to satisfy the growing projected demand for CRMs.  For instance, international demand for lithium and graphite, two of crucial uncooked supplies for electrical automobile batteries, is estimated to develop by greater than 40 instances as much as 2040 in a situation the place the world achieves its current local weather objectives. Even with forecasted will increase in recycling, an IEA report in 2021 steered that “recycled portions of copper, lithium, nickel and cobalt from spent batteries may cut back mixed main provide necessities for these minerals by round 10 %”. Therefore, there’s an pressing want for mapping the supply of, and potential for CRM provide additionally from the Nordic bedrock.

Gungnir Sources Inc. [GUG-TSXV, ASWRF-OTC PINK] is engaged in nickel and gold exploration in Sweden with its flagship Lappvattnet and Rormyrberget nickel tasks situated within the japanese a part of the Vasterbotten District in northern Sweden, an space with a geological setting that has been in comparison with the Thompson Nickel Belt in Manitoba and is well-known for its gold and volcanogenic huge sulphide (VMS) deposits.

Gungnir’s portfolio consists of the Knaften mission, which hosts a growing intrusion-hosted gold system, and VMS (zinc-copper) and copper-nickel targets. All are open for enlargement and additional discovery.

Led by CEO Jari Paakki, a extremely skilled mining govt with 25 years in gold and steel exploration below his belt, together with 12 years with Teck Sources Ltd. (TECK.B-TSX, TECK.A-TSX, TECK-NYSE), Gungnir is hoping to draw the eye of main mining trade gamers after not too long ago asserting spectacular drill outcomes from its excessive grade Lappvattnet nickel mission.

The corporate seems to have its timing proper as demand for nickel is anticipated to surge resulting from growing demand within the electrical automobile sector.

Gungnir has a 100% curiosity within the Lappvattnet and Rormyrberget tasks, that are located about 40 kilometres aside and are held below two separate permits masking an space of 471.4 hectares. Lappvattnet incorporates an inferred useful resource of 780,000 tonnes of grade 1.35% nickel or 231 million kilos of nickel. Rormyrberget hosts a bigger however decrease grade inferred useful resource of 36.8 million tonnes of grade 0.19% nickel or 154 million kilos.

It’s value noting that these tasks are situated roughly one hour south by highway from the most important industrial centres of Boliden and Skelleftea, the place mining and smelting are properly established and the place a brand new battery manufacturing plant is below building. They’re additionally inside simple driving vary of the steel processing operations held by Boliden AB [BOL-NASDAQ], which has main mining and smelting operations in Sweden.

Gungnir’s current focus has been on the Lappvattnet deposit, the place the corporate is engaged in a scientific program that goals to improve and broaden the present useful resource following suggestions outlined in a 2020 technical report. To this point, the corporate has drilled a complete of 5,435 metres in 45 holes throughout 2021 and 2022.

Judging by current outcomes, this effort is clearly paying off. For the reason that first drill program was launched in August, 2021, exploration has delivered constant shallow drill hits of high-grade and wide-grade nickel mineralization.

The very best-grade nickel intercept drilled to this point is contained in gap LAP22-25, which returned 4.04% nickel over 5.76 metres inside a broader interval of 1.49% nickel over 18.28 metres beginning at a down-hole depth of 57.72 metres.

“All of our hits are lower than 100 metres under floor and canopy a strike size of 400 metres within the western and central components of the Lappvattnet deposit,’’ stated Paakki. “Wanting forward, our plan is to proceed defining this high-grade nickel deposit, and the brand new footwall goal, additional to the east and at depth the place it has solely been sparsely drilled previously,’’ he stated.

Gap LAP22-25 was drilled within the central a part of the Lappvattnet nickel useful resource, splitting a spot between two historic holes (LAP74292 and LAP76008), the corporate stated. The outlet seems to have drilled right into a thickened mineralized zone, probably a fold hinge just like LAP22-10 (situated 80 metres to the east) which returned 2.35% nickel over 9.0 metres, together with 3.02% nickel over 5.66 metres beginning at a down gap depth of 66 metres.

The corporate has stated additional outcomes from holes drilled within the central a part of Lappvattnet (12 drill holes) are anticipated to be reported in January and into early February, 2023. Full 2022 outcomes will likely be collectively tabulated as soon as all outcomes are obtained, the corporate stated.

Gungnir provides a low-risk window on exploration upside in each gold and base metals. Priced at slightly below 10 cents on January 23, 2023, the shares are at present buying and selling in a 52-week vary of 17.5 cents and $0.065, leaving the corporate with a market cap of simply $11.4 million, based mostly on 119.6 million shares excellent.

Administration and administrators maintain 12.5% of Gungnir, which has $2.7 million in working capital and no debt.

If it will probably entice the curiosity of a serious, Gungnir would doubtless speed up its exploration efforts in Sweden. Nevertheless, it not too long ago caught the eye of Altius Minerals Corp. [ALS-TSX, OTCQX] which has the choice to amass a 2.0% product sales royalty on the Lappvattnet and Rormyrberget tasks for $8 million, in addition to a 1.0% product sales royalty on Knaften for $2 million. “Having Altius concerned de-risks the mission,’’ stated Chris Robbins, Gungnir’s Chief Monetary Officer throughout an interview with Useful resource World.

The corporate not too long ago added the Hemberget property to its Swedish portfolio, which covers an 11-kilometre-long gabbro-ultramafic intrusion, and copper nickel-target.

Other than nickel, Gungnir provides buyers a window on gold exploration through its 100%-owned Knaften mission, which covers 4,887 hectares and is situated about 100 kilometres west of the nickel tasks alongside a regional pattern often known as the “Gold Line.’’ The Gold Line hosts quite a few gold deposits, together with Agnico-Eagle Mines Ltd.’s (AEM-TSX, AEM-NYSE) 2.0-million-ounce Barsele gold mission. Gungnir has made quite a few new discoveries at Knaften, together with a doubtlessly sizeable intrusion-related gold system (Knaften 300), a brand new VMS zinc-copper base steel goal, often known as Rodingtrask, and a brand new copper nickel goal.

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