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Tasman Metals Ltd. (TSXV:TSM) has acquired a 100% interest in a portfolio of tungsten projects in the Bergslagen mining district of south-central Sweden.
Tasman Metals Ltd. (TSXV:TSM) has acquired a 100% interest in a portfolio of tungsten projects in the Bergslagen mining district of south-central Sweden. The portfolio includes several of the largest known tungsten occurrences in Scandinavia, including the former Yxsjoberg mine which once produced more than 90% of Sweden’s tungsten.
According to the press release:
The projects lie 200 – 300km north of company’s flagship Norra Karr heavy rare earth element project and were purchased outright for a total consideration of 100,000 fully paid common shares in Tasman Metals Ltd and C$45,000.
Tasman has acquired 6 tungsten projects (Yxsjoberg, Gussarvet, Wigstrom, Sandudden, Gustavsberg and Gensgruvan) which are secured by 7 exploration claims totaling 3,680.4 hectares in size. All projects have extensive historic information including drilling, production and metallurgical data, and are supported by excellent road, rail and power infrastructure.
Mark Saxon, president and CEO of Tasman Metals commented:
Acquisition of this tungsten portfolio, including a former tungsten producing mine, has provided an excellent opportunity for Tasman to expand its position as a potential strategic metal supplier for Europe.
While we maintain focus on our globally significant Norra Karr heavy REE project, tungsten is an essential industrial metal that faces the same resource security challenges to REE’s, with a Chinese supply monopoly and strongly growing demand. Tasman shall continue to seek additional aligned opportunities during this challenging market for junior resource companies.
Click here to view the full press release.
