Core drilling at Engebø completed
Nordic Mining is pleased to inform that the drilling program at the Engebø rutile deposit was successfully completed on 4 April 2016. Approximately 6,400 meters have been drilled with a high core recovery rate.
Core logging is going well and the program is up to speed with regard to logging, sampling and analysis. The drill cores are studied and sampled by geologists. Samples are sent to laboratories for chemical and mineralogical analysis to determine rutile grade and to assess garnet quantity and other rock characteristics.
CEO Ivar S. Fossum comments: “When ordinary working procedures were resumed after the illegal demonstrations were called off, we have been able to progress the drilling at a good speed. As a consequence, the overall cost impact following from the irregular progress in the first weeks is moderate. We have decided under the circumstances to move forward with the project work and not to dwell into lengthy and costly legal proceedings against the protesters. We will continue to develop the Engebø project according to high environmental standards.”
Exploration Manager Mona Schanche comments: “The team from Oy Kati Ab has carried out the drilling program in a highly professional manner. We have enjoyed the cooperation with the Kati team.”
Analytical results from the first drill holes have been received. When all analytical tests are completed, the Qualified Person, Mr. Adam Wheeler will assess the information as a part of the update of the mineral resource estimates and classifications. The revised resource model is expected to be finalised in Q3 2016.
Nordic Rutile AS, a subsidiary of Nordic Mining, has the rights to the Engebø deposit and has been granted permits for the project. The drilling gives the basis for updating the mineral resource estimates and classifications, in particular for the open pit part of the deposit, as part of the upcoming pre-feasibility study.
For questions please contact CEO Ivar S. Fossum, telephone + 47 930 96 850.
Oslo, 4 April 2016
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with focus on high-end industrial minerals and metals in Norway and internationally. The Company’s project portfolio is of high international standard and holds a significant economic potential. The Company’s assets are in the Nordic region.
Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking a large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Permits for the project have been granted by the Norwegian government. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Hordaland and develops the project through its subsidiary Nordic Quartz AS. Nordic Mining’s associated company Keliber Oy in Finland plans to start mining of lithium bearing spodumene and production of lithium carbonate. Nordic Mining holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where the Company has discovered a prospective area of sulphide mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess.