Scandinavian updates exploration target at Altavaara

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THE DRILL SERGEANT: Scandinavian Resources has informed the market of a JORC compliant Exploration Target update for the Altavaara prospect, which is part of the company’s Kiruna iron project located 1,300 kilometres north of Stockholm in Sweden.

Altavaara is one of a number of iron prospects within Kiruna Iron AB’s expanding Kiruna Hub.

 

Source: Company announcement

 

Scandinavian Resources said its concept for the Kiruna Hub is to develop a central facility to process ore from a number of satellite iron deposits located within 40km of the Kiruna mining centre.

The Altavaara prospect is located 15km south of Kiruna, 10km from rail and 650 metres from the road to Kiruna.

“The Altavaara prospect is shaping up to be a significant deposit within the Kiruna Hub,” Scandinavian Resources exploration manager Amanda Arrowsmith said in the company’s announcement to the Australian Securities Exchange.

“Measurements from the 13 diamond drill holes we have completed have increased the JORC Exploration Target to 55 to 60 million tonnes at 26 to 29 per cent iron, up from the previously reported 10 to 20 million tonnes at 23 to 30 per cent iron.

“This is the exciting part; the potential to significantly increase the tonnage within the Kiruna Hub is being proven by drilling the historical government iron occurrences which have until now been overlooked.”