EXPLORATION THESIS
LAND HOLDINGS
ACTIVITIES
CONTACT

Exploration thesis

Explore Central Lapland’s Greenstone Belt for Ni, Cu, Co, PGEs
1

Based on new approach called 3-component system (3C-system).

2
This method (3C) is based on interaction of 1. Paleoproterozoic evaporites, 2. high volume of nickel rich magma, 3. reducing agent i.e., black shales.
3
The first stage of Exploration is focusing to identify traits of 3C-system. Standard tools, along with review of historical data sets, are gravity-, and magnetic surveys.
4
The second stage defines the 3C-system, usually with deep penetrating methods including diamond drilling.
5
The third step is for traditional, more direct targeting i.e., MLEM -, and BHEM targets etc.

Land holdings

Valid Ore Exploration Permits total 17456ha.

Applications for Ore Exploration Permits total 1118ha.

Activities

Maaninkijoki 4-6
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First stage of exploration completed
  • Owned (100%) and conducted by MagStar Mining.
  • Historical data review (OKU, GTK, Anglo American)
  • Ground Gravity Survey with 200m spacing
  • Ground mag with 50m line spacing
  • FLEM survey
  • Drilled 15 holes (~5km/)
  • Prospective stratigraphy and lithology confirmed -> aligns with 3C-system
  • BHEM ~15 holes
  • Local stakeholders i.e., local community & reindeer herders engaged (incl. local contractors, technicians)
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Drill program (Autumn 2022) outcome
  1. Confirmed 3C-system (SO4 -black shales- ultramafics (sub-volcanics))
  2. Mineralized ultramafic- and mafic rocks
  3. BHEM targets to follow up
  4. Assays pending (est. late March 2023)
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Second stage planned → Drill test prospective lithology
  • Drilling (6-8 months 24/7) >20 holes ~10km.
  • Optional: Add MLEM to define direct drill targets
  • Optional: Add FLEM to define drill targets
  • Optional: Add IP (3D) to outline and define possible mineralization (dissemination)
  • BHEM ~20 holes
  • Continue the open relationship with the local stakeholders + technicians
Maaninkijoki 1a, 2 & 9
First stage of exploration initiated
  • Joint Venture with a Major mining Co. formed 2022
  • Mapping (9000ha)
  • UAV-mag survey covering the whole JV area
  • Ground gravity survey with 200m station spacing
  • FLEM – MLEM surveys initiated
  • Drill targets identified
  • Diamond drilling plans for 2023-2024
Maaninkijoki 3
First stage of exploration initiated
  • Joint Venture with Nordic Nickel ltd. (www.nordicnickel.com) formed 2022
  • Mapping (3000ha)
  • UAV-mag survey covering the whole JV area
  • Ground gravity survey with 200m station spacing
  • FLEM-MLEM planned

Contact

Juho Haverinen

Exploration Manager (MSc, geologist)

Magnus Minerals Ltd

+358 46 632 0130

MAGSTAR MINING