Ädelfors Gold Project

Location and history

Ädelfors is located in Jönköping County in southern Sweden. It is one of Sweden’s historically significant gold districts, officially discovered in 1738 and mined through the 18th and 19^th centuries. The central historic mine was worked to a reported vertical depth of approximately 240 m with grades up to 1,100 g/t Au. Despite this mining history, no known exploration drilling has been completed at Ädelfors to date.

Mineralisation and historic data

Gold mineralisation at Ädelfors is structurally controlled, hosted in quartz veins with a broader wall-rock alteration halo. Historic records document the following (sourced from third-party records; not verified by the Company):

An average mined grade of the two main vein systems of approximately 14 g/t Au, with individual occurrences reported up to 1,100 g/t Au over an average vein width of 0.4 m.
Recent sampling of the wall-rock alteration halo returning assays of up to 1.1 g/t Au, associated with pyrite.
Historic float sampling proximal to the workings averaging 2.4 g/t Au (22 samples; range 0.002–26.1 g/t Au).

There are hundreds of historic workings recorded across approximately 7.5 km of strike, with the most intensely mined central area defining a polygon of approximately 1.5 km × 1.0 km. Historic grades and workings are sourced from third-party records and have not been verified by the Company; see Company cautionary statement.

Status and next steps

Ädelfors is an early-stage project within the Company’s Swedish option. As a first step, Hannan plans to undertake LiDAR analysis to map the full extent and orientation of the historic workings beneath vegetation cover, to guide subsequent fieldwork.