Gold project Nutukka (Finnish Lapland)
Arctic Minerals holds a 100% interest in the gold project Nutukka. The centre of the Nutukka project area is located approximately 20 km southwest of the old gold panning village of Tankavaara. The area is situated towards the eastern end of the central Lapland Greenstone Belt of northern Finland. This belt hosts the largest gold mine in Europe, Kittilä, operated by the Canadian company Agnico Eagle, producing 239,240 oz (7,440 kg) gold per year (2021). The belt has also seen a number of new gold discoveries in recent years. The Company considers that the geology of the Nutukka area has strong similarities to that of the goldfields of Western Australia and the Abitibi belt of eastern Canada, both major gold-producing regions.
Copper project Peräpohja (Finnish Lapland)
Arctic Minerals owns 100% of permit and permit applications at the Peräpohja copper project in Finnish Lapland.
Arctic Minerals has been exploring for copper in Peräpohja since 2017 and has found widespread copper mineralisation in both outcrops and boulders. Work to date includes drilling, geophysical surveys, prospecting for ore boulders and outcrops and geological mapping.
The geology of the Peräpohja Schist Belt of southern Finnish Lapland has many similarities to that of the Central African Copper Belt ("CACB"), one of the world’s main sources of copper and also a major source of cobalt. Arctic Minerals’ exploration target in Peräpohja is a type of mineralisation called "SSC" (Sediment-hosted Stratiform Copper), typical of that found in the CACB.
Copper-nickel projects Lohi and Inari (Finnish Lapland)
Arctic Minerals holds a 100% interest in the Lohi and Inari projects. The Company believes that both areas have potential for copper-nickel mineralisation. In part of the area in Inari, boulders have been found with anomalous contents of copper and nickel.
Battery metals project Kiiminki (central Finland)
In the Kiiminki region, Arctic Minerals holds a 100% interest in an exploration permit where multiple lead-zinc-silver geochemical anomalies have been identified. There have been appeals against the permit application and the matter is now being considered by the Administrative Court. Once the permit is granted, the Company plans sampling of base of till and top of bedrock using a light drill rig.
Copper target Tavast (Central Finland)
Tavast is in a previously unexplored and sparsely populated part of central Finland. Boulders assay up to 4.4% copper.
The area has previously only seen sparse boulder-hunting, carried out by a prospector some 25 years ago. This prospector found boulders assaying up to 4.2% copper and also some gold-silver bearing boulders with up to 5.1 grams/ton gold and 35 grams/ton silver. Some of the prospector’s boulders were found in an area that is now inside a wind farm but there is still a considerable area open for exploration on the western side of the wind farm. The most prospective area is now covered by the company’s Tavast reservation. The reservation covers an area of 444 km2 approximately 120 km southeast of Oulu.
Arctic Minerals’ geologists have found a number of copper-, gold- and silver-bearing boulders in the area outside the wind farm but within the Tavast reservation. These boulders assayed up to 4.4% copper. One copper rich boulder also assayed 0.56 gram/ton gold and another assayed 17 grams/ton silver. The company believes that the boulders’ source may be local.