Northern FINLAND GOLD PROJECTS

The company’s projects occur in the eastern-southeastern underexplored part of the Central Lapland Greenstone Belt (CLGB). 

The Paleo-Proterozoic Greenstone Terrane of Northern Finland is comprised of multiple greenstone belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico Eagle and the Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by Boliden and Sakatti owned by Aglo-American).  The belt’s potential is also suggested by the presence of several major mining companies in the belt. The belt has very recently garnered significant interest following an offer from Rupert Resources to buy B2Gold’s 70% interest in a Joint Venture between B2Gold and Aurion Resources which lies adjacent to Ruperts Ikkari Deposit, for $102 million.  The joint venture ground is strategic to Ruperts proposed development of the Ikkari Deposit but is also host to numerous gold prospects along a structural corridor that extends >125 km. 

BACKGROUND

The company conducted a 2-month campaign of reconnaissance prospecting and geological mapping during summer and fall 2024.   The main target area was a 30 km long corridor of faults and favourable geological features which may extend from the more prolific central portion of the CLGB which has seen extensive gold exploration and where significant gold deposits and prospects occur (eg., the 4.1 million ounce Ikkari gold deposit owned by Rupert Resources; and the Aamurusko/Notches/Launi gold projects owned by Aurion Resources). 

The company’s strategy was to prospect areas interpreted as faults and/or favourable geological contacts or features seen as having potential to host gold mineralization. It is important to note that this area had no previously known gold occurrences or history of gold exploration prior to Grit’s work here.

GEOLOGY + mineralization
   

 

The property is underlain primarily by a sequence of folded and faulted, meta-sedimentary and meta-volcanic and gabbroic intrusive rock.  The sequence is metamorphosed to mid-amphibolite facies.

The company collected 466 rock samples over the approximately 41,000-hectare property, with a main focus on an approximate 25-30 km corridor interpreted to have the best potential.  Of the 466 samples, 40 assayed greater than 0.10 g/t Au including 11 that assayed greater than 0.5 g/t Au and 5 that assayed greater than 1.00 g/t Au up to a maximum of 2.84 g/t Au.  Additionally, 71 samples assayed greater than 0.05% (500 ppm) copper up to a maximum 1.67% copper.  The mineralization typically consisted of quartz vein or quartz stockworks with variable amounts of pyrite-pyrrhotite-chalcopyrite-magnetite.   There appears to be a strong correlation between gold and copper.  This is typical of many gold deposits and occurrences throughout the CLGB.  Depending on the style of mineralization copper may be seen as a proxy for gold and as a vector for gold.