Åsnebogruvan (U, Fe, Cu, REE)

Åsnebogruvan Project consist of the continuous Åsnebogruvan nr 100 (686Ha) and Täppetjärnet nr 100 (446Ha) exploration licences which are located within the Vasta Gottalands province of south-western Sweden (figure_1). The project was originally staked to cover multiple occurrences of stratabound U, Fe, Cu and REE bearing poli-metallic mineralisation originally identified by the Swedish Geological Survey (SGU) in the 1960’s.

The geology of the project area is dominated by sedimentary rocks of the Dal Group which unconformably overly an older crystalline basement composed of gneiss and granite (figure 2). Uranium mineralisation is partly hosted within lower albite altered schist sequences of the Dal Group but also within fault and fracture zones or hematite breccia bodies. The presence of localised younger intrusives, hematite bearing breccias and a multi commodity signature of mineralisation has drawn some comparisons with an IOCG mineralisation style.

Three prospects of significance identified within the Åsnebogruvan nr 100 include:

1. Central Långvattnet where limited drilling (n=3) and surface grab sampling of historic workings targeting structurally controlled hematite breccias returned highly anomalous samples up to 0.36% Pb, 0.34% Ni, 0.04% Co, 30.1% Fe, 28g/t gold, 0.32% W, 2.7% Te, 7.7%, U and 0.17% Th.

2. Häserud or Åsnebo East prospects (1.5 km east of Långvattnet) where anomalous uranium and copper mineralisation was intersected in 9 diamond drill holes completed by the SGU during 1983-84 (up to 0.046% U3O8) and

3. the Åsnebo West prospect (2 km west of Långvattnet) where diamond drilling completed by the SGU in 1983 intersected copper and silver mineralisation developed along a sandstone and calcareous schist contact.

Within the Täppetjärnet nr 100 licence uranium mineralisation, which was first identified by the SGU in 1973, is known to be associated with areas of quartz veining/crackle brecciation developed within silicia - hematite altered sediments. Grab sampling by previous licensees from historic costeans at Täppetjärnet in 2007 reportedly returned values up to 4.42% U, 2050 g/t Ag, 0.19% Cu and 1.35 % Pb.