The Conversation (0)
Pure Resources Limited (Pure or Company) is pleased to announce it has secured two Prospecting Reservations totalling 683km2 of highly prospective ground in southern Finland (Figure 1). The Company applied for the Kova and Kast Reservations following a global review for future facing metal exploration opportunities.
HIGHLIGHTS
- Pure has secured the Kast and Kova Prospecting Reservations totalling 680km2 of highly prospective ground in southern Finland in close proximity to other existing Lithium and critical mineral deposits (Figure 1).
- Both prospects are considered highly prospective for Lithium-Caesium-Tantalum pegmatite deposits and are also prospective for gold and base metal mineralisation.
- The Kova Reservation (544km2) (Figure 2):
- Situated 130km north of Helsinki in the Tampere region of Finland.
- Adjacent to, and geologically analogous to, the Seppälä lithium pegmatites.
- Reservation partially sits within the Eräjärvi metallogenic area.
- More than 70 pegmatite dykes, enriched in B, Be, Li, Nb, Sn and Ta, are reported from the Seppälä area.
- Little modern systematic exploration for lithium deposits has been undertaken in the area.
- Within the Kova Reservation, multiple pegmatite granites have been mapped by the Finnish geological survey (GTK) which will be targeted in upcoming field programs.
- The Kast reservation (139km2) (Figure 3):
- Situated 110km west of Helsinki in the Kimito region of southern Finland (Figure 3).
- Adjacent to, and geologically analogous to the Rosendal tantalum deposit and sits within the Kemiö metallogenic area (Figure 3).
- The Kemiö metallogenic area is defined by the presence of a late-orogenic granitic, complex pegmatite swarm with a significant potential for lithium, tantalum and beryllium exploitation.
- Within the Kast Reservation area, a number of pegmatite granites have been mapped by the Finnish geological survey which the Company plans to map and sample in upcoming field programs.
- The Company (across the two projects) is currently negotiating the purchase of available drillhole (approximately 235 holes drilled historically for ~19,000m), geochemical and geophysical data relevant to the two reservation areas as part of its ongoing data review process. Following completion of the data review, Pure intends to undertake mapping and sampling programs through the northern summer.
Pure’s prospectus dated 11 March 2022 and released to the ASX on 19 April 2022 (Prospectus) outlined the Company’s use of funds (Use of Funds). Under the Use of Funds, Pure has allocated $400,000 for project generative activities.
Pure’s Executive Chairman, Patric Glovac, commented:
“With our current belt-scale Laforge lithium project in Quebec exposing us to the Canadian government’s progressive Critical Mineral Strategy, we have now identified Europe and more specifically, Scandinavia as an area we believe will see significant growth in the battery metals sector with favourable geopolitical and geological conditions.
“As such, we have been reviewing a number of opportunities in Scandinavia and the application of the two Reservations in close proximity to other known lithium areas and is another great step forward in building an excellent, and global, battery metals portfolio.
“The project generation team have been working around the clock with our Finnish counterparts and have again done an excellent job to secure the highly prospective Reservations. With the snow melting as we speak, we are looking forward to completing boots-on-ground exploration over the coming months.”
Figure 1: Location of the Kova and Kast Reservations, southern Finland.
The Finland Reservations
PR1 Finland Oy (a wholly owned subsidiary of Pure) has registered two Prospecting Reservations, with the Finnish Mining Authority, in southern Finland (Figure 1). The two Reservations cover an area of ~683km2 and are considered highly prospective for Lithium- Caesium-Tantalum (LCT) pegmatite deposits and are also prospective for gold and base metal mineralisation.
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