Nordic Mining has entered into agreement with landowners and secured exclusive rights for investigation and development of a quartz deposit in Kvinnherad municipality in Hordaland county in Norway. Preliminary studies carried out by Geological Survey of Norway (NGU) and Norwegian University of Science and Technology (NTNU) show that the quartz has a low content of contaminants (such as Ti, Al, K, Ge, Na, Fe, Li and B) and therefore can be regarded as high-purity type quartz.

Quartz is used in a range of products depending mainly on the level of purity. High-purity quartz is used in high-value products, for example in the electronics and solar cell industries.

The deposit is estimated to 2.7 million tons of quartz appearing from a 12*600 meters long quartz vein reaching to a depth of at least 150 meters. Nordic Mining is planning a detailed mapping of the deposit's variations and dispersion. The mapping work will be carried out jointly with NTNU.

Professor in ore geology at NTNU Rune B. Larsen comments: "Our analysis of the deposit shows that the quartz appears to be of a very pure type.  This supports our hypothesis of the potential for high-grade quartz deposits of commercial significance in Norway." 

CEO Ivar S. Fossum in Nordic Mining comments: "High-grade quartz is a strategic mineral with an increasing demand, especially for applications in electronics and renewable energy. We intend to increase significantly our knowledge of the market potential for the deposit during 2011."

For questions please contact Exploration Manager Mona Schanche, telephone: +47 92 28 12 53.

 

Oslo, 12 January 2011
Nordic Mining ASA

 

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)