Laiva is Nordic Mines’ real gold mine in a double sense of the word. As the exploration process has proceeded and the deposit has been mapped out, Laiva has emerged as a considerable gold deposit. The drilling and the test production of gold concentrate indicate that Laiva is one of the biggest gold deposits discovered so far in the Nordic region.

 

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Exploration in connection with the main mineralization in Laiva has shown that the areas mineralized with gold continue outside the drilled mineralization. Continued work on the zones mineralized with gold outside the main mineralization, but within transport distance from Laiva, has shown further gold mineralization.

 

The area of the gold mineralization at Kaukainen has increased to 6.4 hectares, while the area of the gold mineralization at Musuneva has grown to 15 hectares. The definition of mineralized area in this context is an uninterrupted area where vertical drill holes in a systematic drilling network has shown a gold content of more than 0.1 grams/ton.

 

In comparison, the area that has been core drilled at the Laiva deposit so far covers a total area of 49 hectares. Even if the geological conditions are similar in these areas, it is too early in the process to indicate either contents or volumes of the mineralised area. This means that it is not possible, based on information available at the moment, to make any conclusions whether there is a deposit worth exploiting in these new areas.

 

Nordic Mines started to explore at Musunneva and Kaukainen, nearest Laiva, based on our own tests of the moraine as well as previous sampling of boulders and of the surface performed by Outokumpu.

 

In Oltava extensive exploration has already been conducted before Nordic Mines started its exploration program. A smaller mineralization with a high gold content, among others, had already been identified.