North Norway

Attractive Upside Potential in the Exploration Asset Portfolio In North Norway

ENVOLD Ni PROJECT

The Envold licences span 257 km² covering the majority of the Pasvik Greenstone Belt, an Early Proterozoic sequence of sedimentary and volcanoclastic rocks, intruded by ultramafic suites.
Ultramafic units are mapped over 30+ km of strike, containing known Ni occurrences, with historical grab/boulder samples yielding highs of 3.47% Ni, 1.37% Cu. Historical drilling of just 3 holes in the area yielded highs of 0.24% Ni and 0.13% Cu.
Regional geology demonstrates potential to host high-tenor Tier 1 Ni-Cu deposits. Yet the area is under-explored, with the Pechenga Deposits located 15 km to the east hosting 339 Mt at 1.18% Ni and 0.63% Cu (as reported in 2009).
Historical Ni-sulphide exploration in the 1970s with a total of 5,000 metres drilled across the whole belt. Few details of boreholes and targets have been located to date. Global mining company Falconbridge undertook very limited drilling in the 1980s.
Accessible by road (1-2 hours) from Kirkenes, which has an airport.

Geological map of the Envold project. Licences cover the Ni-bearing intrusive bodies.

Nickel mineralization was first discovered at Pålfjellet in 1899. Mineralization is mapped over a 50 m east-west trending zone.
Little to no work, other than historic pitting and mapping by NGU, has taken place. From the few grab samples collected by NGU, nickel grades are reported above 0.3% Ni.
Mineralization is reportedly hosted in two gabbro bodies.
Accessible by the main E6 road (approx. 2 hours) from Alta, which has an airport. Lodgings available at Øksfjordhamn in the project area.
Less than 1 hour’s drive from Polar’s Birgivi nickel-copper project.

Geological map of the Pålfjellet project. Licences cover the nickel-bearing intrusive bodies.

The Birgivi prospect was first recognised in 1976 when SydvarangerA/S conducted geological mapping and a VLF survey.
Ni-Cu sulphide mineralization is reported in a gabbronorite body with grades of 0.36% Ni and 0.3% Cu.
Systematic geochemical sampling profiles are reported to have been carried out and showed anomalism across the intrusive body and beyond.
Accessible on the E6 road from Alta (2½ hours) or from Tromsø (3½ hours), both with major airports.
Less than 1 hour’s drive from Polar’s Pålfjellet nickel project.

Geological map of the Birgivi project. Licences cover the nickel-bearing intrusive bodies.

Discovered and worked in the late 1800s. From 1872 to 1886, 1,000t of Ni and 500t of Cu were produced. A typical reported assay from ore in historical data is 2.5% Ni, 0.13% Co & 0.33% Cu.
Ni mineralization is hosted in a mafic-ultramafic intrusive body with geochemical and chronological affinities to the Ni-bearing Svecofennian intrusive suites in Finland.
Six boreholes totalling 1,595 m were drilled in 2008 within the project area.
Accessible via main roads from Tromsø (3¼ hours) or Harstad/Narvik airport (3½ hours). Lodgings available at Hamn.

Geological map of the Hamn project. Permits cover the nickel bearing intrusive bodies.