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2nd Quarter Activities Report
KIRUNA IRON PROJECT
- Global JORC Mineral Resource increased to 473Mt @ 40% Fe
- Global JORC Exploration Target increased to 203-273Mt @ 32-40% Fe
- JORC Exploration Target for Altavaara increased to 55-60Mt @ 26-29% Fe
- Excellent metallurgical results received from Rakkuri Project
- High grade iron results received from Harrejaure Project
- Iron results received from Renhagen Project
- Wide, low grade iron intercepted at Altavaara Project
PRECIOUS & BASE METALS PIPELINE
- Copper-gold discovery made at Njivlojávri Project, Norway
- Copper discovery made at Fiskarfjellet Project, Norway
- Exploration results from Ringvassøya Project, Norway
- New gold-copper project granted in Northern Sweden
CORPORATE UPDATE
- Completion of acquisition of iron permits from Grangesberg Iron
- Completion of Rakkuri Project purchase
- Investments banks mandated to raise capital for Kiruna Iron project
ScanRes - Managing Director Appointed at Kiruna Iron
- Swedish national Magnus Arnqvist appointed as Managing Director at Kiruna Iron
- Currently Managing Director of Europe’s largest zinc mine, Tara in Ireland
- Extensive mine planning, operational and mining engineering experience
- Mr Arnqvist will drive Kiruna Iron towards its goal of becoming a major Swedish iron company producing a premium quality magnetite concentrate from Europe’s #1 iron ore district
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Kiruna Iron - JORC Resource Update
Tuesday January 17, 2012Scandinavian Resources Ltd (ASX:SCR) and wholly owned subsidiary Kiruna Iron AB advise that the updated global JORC compliant mineral resource statement for the Kiruna Iron Project, located in Northern Sweden is now:
473Mt @ 40% Fe
The global JORC Exploration Target for the Kiruna Iron Project has also been updated to:
203-273Mt @ 32-40% Fe
- JORC Exploration Targets converted to JORC Inferred Resources
- JORC Exploration Targets increased
- Metallurgy test work indicates a premium quality concentrate can be produced from the resources
- Successful exploration, joint venture and acquisition strategy firmly entrenches Kiruna Iron AB in the world class Kiruna Iron District
The success of the Kiruna Iron strategy is highlighted by the growth in resources shown below:
TweetASX Release Date JORC Resources JORC Exploration Target 21/04/2010 ― ― 28/06/2010 98Mt 8-10M @ 25-69% Fe 15/11/2010 185.7Mt @ 35% Fe 150-185Mt @ 25-37% Fe 27/07/2011 412.1Mt @ 39.9% Fe 150-230Mt @ 30-40% Fe 16/01/2012 473Mt @ 40% Fe 203-273Mt @ 32-40% Fe
Kiruna Iron - Altavaara Exploration Target Increase
Monday January 16, 2012- JORC Exploration Target increased to 55-60Mt @ 26-29% Fe
- Altavaara characterised by wide, low grade iron mineralised intercepts:
- 148m @ 29% Fe from 34m (ALT11011)
- 134m @ 29% Fe from 9m (ALT11013)
- 115m @ 27% Fe from 15m (ALT11012)
- Kiruna Hub continues to grow
Amanda Arrowsmith, Exploration Manager said “The Altavaara Prospect is shaping up to be a significant deposit within the Kiruna Hub; measurements from the 13 diamond drill holes we’ve completed have increased the JORC Exploration Target to 55-60Mt @ 26-29% Fe, up from the previously reported 10-20Mt @ 23-30% Fe. 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.”
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Change of Address
Wednesday January 11, 2012
Scandinavian Resources Ltd advises that it's Registered Office and Principal Place of Business has changed to the following
6 Outram Street
WEST PERTH
WA 6005All other contact details remain the same.
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Kiruna Iron - Wide Iron Intercepts
Thursday December 29, 2011- 12 diamond drill holes completed at Altavaara for 2,694m
- Very wide, low grade iron mineralisation intercepted
- Altavaara expands options for the Kiruna Hub
- Altavaara located 15km south of Kiruna, 10km from rail and 650m from major road that lead to ports in Lulea, Sweden and Narvik, Norway
Kiruna Iron - Renhagen Iron Results
Thursday December 22, 2011- Iron assays returned from Renhagen Project
- 20.81m @ 39.24% Fe from 115.29m (REN11001)
- 154.68m @ 20.84% Fe from 14.50m (REN11002)
- 86.98m @ 19.36% Fe from 24.70m (REN11003)
- 55.59m @ 21.78% Fe from 35.24m (REN11004)
- 50.55m @ 33.29% Fe from 98.28m (REN11005)
- Wildcat hole intercepts iron ore
- 15.75m @ 32.92% Fe from 30.50m (REN11007)
- 16.50m @ 34.24% Fe from 52.65m (REN11007)
- Low grade copper mineralisation also intersected at Renhagen
- 5.89m @ 0.23% Cu from 126.61m (REN11002)
The results reported here are length-composited values and have not been density corrected; these calculations will occur during resource modelling.
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Completion of Acquisition
Friday December 2, 2011Scandinavian Resources Ltd (ASX: SCR) is pleased to announce that final payments have been made for acquisition of the Rakkuri Project originally announced to ASX on 15 November 2010. The final payment comprised USD1.5 million cash and 6,157,635 fully paid ordinary shares. Tweet
Kiruna Iron - Harrejaure Project Drilling Results
Monday November 7, 2011- Further high grade iron assays returned from Harrejaure Project
- 139m @ 28% Fe from 46m (HAR11003)
- Inc. 36m @ 40% Fe
- 129m @ 44% Fe from 30m (HAR11004)
- Inc. 9m @ 68% Fe
- Inc. 45m @ 49% Fe
- 157m @ 29% Fe from 16m (HAR11005)
- Inc. 16m @ 46% Fe
- Inc. 7m @ 64% Fe
- 139m @ 28% Fe from 46m (HAR11003)
- Low grade copper mineralisation also intersected at Harrejaure
- 56m @ 0.17% Cu from 84m (HAR11003)
- Inc. 12m @ 0.58% Cu
- Inc. 0.9m @ 5.91% Cu, 19g/t Ag
- 56m @ 0.17% Cu from 84m (HAR11003)
Copper and Gold Discoveries
Tuesday November 1, 2011- Copper-gold discovery made at Njivlojávri Project, Norway
- 32.1 % Cu, 3.75 g/t Au (KA11029)
- 7.46 % Cu, 5.93 g/t Au (KA11030)
- Copper discovery made at Fiskarfjellet Project, Norway
- 2.09% Cu, 7.6g/t Ag (AL11058)
- 1.61% Cu, 7.4g/t Ag (AL11059)
- 1.47% Cu, 6.0g/t Ag (AL11060)
- 1.03%Cu, 6.3g/t Ag (AL11061)
- Field work to recommence in European 2012 summer
- Gold and base metals pipeline continues to grow
