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Arctic Minerals has communicated that it has analyzed all of the 76 samples taken from Nutukka in September 2020. Previously only 38 of these had been analyzed. 51 of the samples contained gold. Ten samples were from a cluster of gold-bearing samples and three just outside it. The theory is that there is a naturally concentration of gold, i.e. a mineralization, at a certain location inside the cluster. From there the particles have been spread through geological or environmental processes, such as erosion.

The positive result means that Arctic Minerals has enough data to proceed with more advanced exploration methods. The application for an exploration permit was handed in in January 2021, according to TUKES.

Previously Arctic Minerals only had an exploration reservation, which is only valid for two years and permits noninvasive exploration methods such as sampling. An exploration permit, on the other hand, will allow drilling and more advanced sampling methods. During 2021 the plan is to perform base-of-till drilling, trenching, further soil sampling and magnetic survey by drone in order to pinpoint the location of the mineralization.

Following this, selected diamond drilling should be the next step in 2022 if the results are positive (read more about mineral exploration in our analysis, pp. 15-19). The image to the right below shows the Nutukka exploration reservation in light blue and the recent application for an exploration permit inside the dotted circle in light brown.

Lähde: Finwire News

Arctic Minerals is a Nordic junior exploration company, focusing on exploration for copper, zinc, gold and battery metals in Finland. The company name was earlier Arctic Gold but when the company Norrbotten Exploration was acquired in autumn 2017, the company was renamed Arctic Minerals. The acquisition and the new recruitments gave the group additional competence and strengths and a new focus on exploration in Finland.