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The following excerpt is from EXPLORATION NEWSLETTER - What's up in Sweden, No 26 June 2008

Current news on exploration in Sweden. Editor: Daniel Larsson

EXPLORATION NEWS

Lappland Goldminers AB announced on April 11 of visible gold encountered in drillcore from the drilling program initiated in early April at Tjålmträsk. The Tjålmträsk project situated on the “Gold Line” in Västerbotten started a few years ago following the discovery of mineralised boulders. On April 18, Lappland Goldminers AB reported that a gold mineralised zone with a grade of 11 g/t Au over 6 metres has been found during drilling at Gubbträsk also situated on the “Gold Line”. Lappland Goldminers AB presented a feasibility study for the Fäbodliden gold project on April 25. The study is available at www. Lapplandgoldminers.com. On May 30, Lappland Goldminers AB announced that the Supreme Environmental Court has give the Company a go ahead decision regarding permission to construct and operate a mine and process facility at Fäboliden.

On May 28, Dragon Mining Ltd announced that a diamond drilling program targeting the depth extensions of the Svartliden gold mine has returned further high-grade intercepts including 4.0 metres at 7.15 g/t Au and 6.0 metres at 8.81 g/t Au. The company also announced that a detailed 10,280 line kilometre airborne geophysical survey was to be undertaken the coming week over the entire 300 km2 Svartliden regional Exploration Permit holding.

On May 6, Dannemora Prospektering AB announced that new zinc mineralisations have been discovered in the Dannemora iron ore field. Examples from two new drill holes: 7.5 m core section grading 4.5 % Zn (or 18.0 m grading 2.5% Zn), 3.7 m core section grading 2.0 % Zn and a 5.4 m core section grading 1.6 % Zn. An update issued May 27, reports on results of the three final drill holes, confirming the new zinc mineralisation.

On March 27, Mawson Resources Ltd gave an update of three ongoing drilling projects. Analytical results have been received for 6 drill holes at Kläppibäcken in Jämtland County and among the highlighted reported results is 12.1 metres at 0.44% U3O8. At Tåsjö in Jämtland County 21 holes for 927 metres have been drilled this year. Uranium mineralised horizons were intersected in most drillholes.
At Norr Döttern in Norrbotten County Mawson’s joint venture partner Hodges Resources Ltd earns a 51 % interest by spending AUD$1 million over 4 years. Drilling is ongoing and six drill holes totalling 590 metres have been planned. High surface radioactivity targets at Östra Järntjärnsbäcken are the focus of the current program. On April 28, Mawson announced further results from the 21 hole, 4,836 metre winter diamond drill program at Kläppibäcken. Uranium mineralisation is now known from surface down to a vertical depth of 250 metres over a strike extent of 150 metres and remains open at depth.

On April 30, Blackstone Ventures Inc announced that recent diamond drilling has intersected massive and semi-massive sulphide mineralisation assaying up to 5.06 % Ni and 14.14 g/t total precious metals (Au+Pt+Pd) at the past-producing Lainejaur nickel mine.

On May 26, Drake Resources Ltd reported that Zinifex Ltd as Manager of the Drake-Zinifex Exploration Joint Ventures has initiated a major, detailed helicopter-borne time-domain VTEM survey over ten of its licence areas covering the Falun belt and the area surrounding the historic Bersbo mine.

On March 14, Northland Resources Inc reported that the Company is submitting a draft Exploitation Concession application to the Mining Inspectorate of Sweden. The application covers the Company’s Stora Sahavaara and Tapuli iron projects in Norrbotten County.

Aura Energy Ltd reported on April 21 that considerable thickness of mineralised alum shale has been intersected in four of the five first drill holes in its Storsjön Project. The average thickness of radiometrically anomalous shale in these 4 holes is 130 metres.

Continental Precious Minerals Inc presented on April 11 an updated inferred resource estimate and indicated resource for the Company’s 100% owned multi-metal sediment Viken mineral exploration license. The updated resource estimates for uranium oxide, vanadium oxide, molybdenum oxide and nickel, are almost double the prior inferred resource estimates, with slightly lower grades for each of the metals.

On April 14, Nordic Diamonds Ltd announced that a diamond drilling program has commenced on the Company’s Nyborg Volcanogenic Massive Sulphide project in the Skellefte District. A total of six targets located in two separate zones will be drill tested. The program will consist of approximately 1,800 meters of drilling.

On May 13, Tertiary Minerals plc reports of positive initial findings from the completion of its first drilling program at the Storuman fluorspar deposit in Västerbotten County. The mineralisation was discovered in the 1970’s by Gränges Aluminium who calculated an “ore reserve” of 12.5 million tonnes grading 13.3% CaF2 with a favourable mining geometry. Ten drillholes have been completed by Tertiary at an average spacing of 250 m, over a total strike length of 2 km. Visible fluorspar mineralisation was intersected in all drill holes including three holes each stepping out 250-300 m beyond the previously known perimeter.

On April 2, Hansa Resources Ltd announced that the Company had won, via a competitive tender, the right to participate in the Storkullen high grade gold and zink massive sulphide project. The Storkullen project, in Jämtland County was first discovered by two amateur prospectors in 2007. The discovery zone is 5 m2 and rock chip samples taken from outcrop have returned:

Sample Au Ag Pb Zn
Number g/t g/t % %
1 0.05 11 0.5 33.0
2 0.05 17 0.7 27.9
3 23.0 77 0.2 0.33
4 0.2 59 2.2 0.63

On May 26, Hansa announced that a final agreement has been signed with the vendors of the Storkullen deposit and applications concerning a work program have been submitted to the County Administration Board. The applications include trenching within 200 metres of the discovery outcrop and diamond drilling. The Company also reports of an ongoing process of arranging contracts for geophysical surveys and drilling at Storkullen which are stated to commence in June and September 2008 respectively.

On May 15, Gold-Ore Resources Ltd announced an agreement to purchase a 90 % interest in the near-term production, Norrliden poly-metallic deposit from North Atlantic Natural Resources AB, a subsidiary of Lundin Mining Corporation. The remaining 10% ownership is held by IGE Nordic AB.

On May 26, Energy Ventures Ltd (EVE) announced a completion of joint ventures agreement on uranium exploration projects in Sweden. EVE will hold a 51% equity interest and IGE Nordic AB a 49% equity interest in Norrsken Energy Ltd; the UK incorporated joint venture identity. Norrsken now holds 100 % interest in 17 granted uranium exploration permits.

On March 4, Avalon Minerals Ltd announced the purchase of the historical copper mines Viscaria and Adak from Phelps Dodge Exploration Sweden AB. Avalon will fast track resource definition drilling and feasibility studies at Viscaria and Adak. On May 30, Avalon announced the completion of a maiden Mineral Resource estimate to JORC-code reporting standard for the Viscaria copper project. The inferred resource comprises a combined 26.6 Mt for 222,000 tonnes of contained copper using a cut-off grade of 0.3 %.

On April 14, Roslagen Resources AB announced that Mikula Mining, a mining finance
company from London, has aquired a 67 % interest in the Grängesberg Iron Ore Company AB (GIOC) a subsidiary to Roslagen Resources AB. Mikula has committed to invest £3.5 million in GIOC in order to conduct feasibility studies on a re-start of the Grängesberg iron ore mine in the Bergslagen district and the development of the Ekströmsberg iron ore deposit in Norrbotten County.

MINING NEWS

On March 12, Gold-ore Resources Ltd announced receipt of an independent NI 43-101 compliant resource estimation for the company’s 100% owned Bjorkdal Gold Mine. A 2.5 metre minimum mining width and 0.3 g/t gold cut-of grade was used for an open pit scenario. A measured resource of 2,040,00 tonnes at 1.74 g/t gold, an indicated resource of 6,870,000 tonnes at 1.69 g/t gold and an inferred resource of 18,060,000 tonnes at 1.53 g/t gold was reported.

On February 21, LKAB reported that a new main level is to be opened at Malmbergsgruvan. The ore reserve in Malmbergsgruvan is 140 million tonnes and a lifetime of ca. 12 years is expected.

LKAB announced on April 9 that test mining of the iron ore deposit at Gruvberget near Svappavaara will be initiated by the Company’s subsidiary Minelco AB. The County Administrative board of Norrbotten has given permission for test mining of 50,000 tonnes of iron ore.

Hope to see you soon!
© 2008 Geological Survey of Sweden

The content of this newsletter is entirely based Upon public information gathered from newspapers, press releases, and web sites on Internet.




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