Skellefteå North Gold Project

Location and setting

Skellefteå North is located in the Skellefteå mining district of northern Sweden, approximately 40 km north-northwest of the city of Skellefteå, on the same regional belt as Stavaträsk.

The project was drilled by a third party (Mawson Gold Limited) in 2022. That program is reported to have intersected visible gold in vein-hosted mineralisation, including a reported intercept of 1.8 m at 28.4 g/t Au (including 0.4 m at 132.2 g/t Au), and to have defined gold over approximately 300 m of strike and 80 m of depth, with early interpretation suggesting a series of plunging shoots that remain open in all directions.

Gold outcrops are reported along a trend of approximately 6.5 km, of which less than 5% has been drill-tested to date. Grab samples across the main trend averaged 1.8 g/t Au (49 samples; range 0.005–15.8 g/t Au). A parallel trend approximately 5.5 km to the north hosts reported outcrop grades of up to 15.1 g/t Au. Grab and outcrop samples are selective by nature; see Company cautionary statement.

Status and next steps

Skellefteå North is an early-stage project within the Company’s Swedish option. Work will be prioritised alongside the active program at Stavaträsk and the Company’s Peru programs. Planned early activities include compilation and verification of available historic data and field follow-up of the outcrop trends.