Northland Acquires the Pellivuoma Iron-Copper Deposit, Northern Sweden

Thu, Jul 19, 2007 07:46 CET Report this content

Vancouver, Canada, July 19, 2007:  Mr. Bill Wagener, the COO of Northland Resources Inc., is pleased to announce that Northland has been granted an exploration permit covering the Pellivuoma iron-copper deposit located about 15 km west of the Stora Sahavaara and Tapuli deposits, near the village of Käymäjärvi in northern Sweden.

 

The Pellivuoma deposit, which was first discovered in 1919, is under between 6m to 13m of cover and is reported by the Swedish Geological Survey (SGU) to occur in the same stratigraphic position as the Stora Sahavaara and Tapuli magnetite deposits in the Kuanisvaara field.

 

The SGU calculated a resource of 43 million tonnes with an average grade of 32.7% Fe, 0.04% P, and 0.58% S to a depth of approximately 200m below surface.  In the core of the deposit the copper value was estimated to be about 0.04%. The SGU carried out magnetic and gravimetric measurements from 1963 - 1966. Drilling started in 1969 and continued into 1971 for a total of 13 holes drilled (2,494m). The reader is cautioned that this is an historic resource estimate which was prepared prior to the implementation of National Instrument 43-101. The Company has not yet done the work necessary to verify the resource and it cannot be relied upon.

 

The deposit is folded and faulted and appears to occupy the fold hinge of a northwesterly plunging anti-form. Magnetite occurs as irregular grains or grain aggregates usually 100 - 500 micron in size. Phosphorous occurs as apatite and the sulfur is contained in pyrite and pyrrhotite, and smaller amounts in chalcopyrite. 

 

Northland is currently sampling boulders, re-evaluating historical drilling and geophysical surveys, and planning for exploration drilling to be started when access is available which is likely to be later this summer or fall.

 

Buck Morrow, the President of Northland said "The acquisition of the Pellivuoma Exploration Permit is part of our strategy of aggressively growing our portfolio of historic iron resources close to our key projects at Stora Sahavaara, Hannukainen and Tapuli. We believe that the existing historic data bases will allow Northland to quickly evaluate these deposits. Our teams on the ground are continuing to identify and evaluate quality iron targets which have the potential to add iron resources to our portfolio."