Teako Completes Inaugural Diamond Drilling and Downhole Geophysics at Its Løkken Property and Receives Additional Drill Permit for Its Massive Sulfide Target at Fjellslett
Teako Completes Inaugural Diamond Drilling
and Downhole Geophysics at Its Løkken
Property and Receives Additional Drill Permit
for Its Massive Sulfide Target at Fjellslett
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Teako Minerals Corp. (CSE: TMIN) (the
"Company" or "Teako") announces the completion of an inaugural diamond drill program at its Åmot and
Høydal targets both part of its district-scale Løkken copper-cobalt-zinc ("Cu-Co-Zn") volcanogenic
massive sulfide ("VMS") project in central Norway (the "Project"). The program comprised one hole at
each target for a total of 364 meters (see
Figure
1). Results include the intersection of 29.9 m of pyrite-
and pyrrhotite-dominated vasskis horizons at Åmot, with the largest single horizon totaling a 20.4 m
downhole intersect, interpreted by the Company as a sulphide-rich zone within the middle volcanic
member of the prospective stratigraphy. At Høydal, drilling intersected a 4.9 m thick jasper-rich unit;
jasper horizons typically occur in close proximity to VMS mineralization in the Løkken district.
Downhole electromagnetic (or "DHEM") surveys were completed for both holes. These surveys, used to
detect nearby conductive (sulfide-bearing) bodies, have identified at least two targets requiring further
investigation.
Additionally, the Company is pleased to announce that it has secured drill permits for its Fjellslett VMS
target, situated west of the former Løkken Mine (see
Figure
1). The Fjellslett target is within the part of
the Løkken Project, in which the Company acquired a 90% interest from Capella Minerals (TSXV: CMIL)
in August 2024. This target hosts outcropping massive sulfide mineralization, and drilling is expected to
commence in summer 2025. The drill program, will utilize The Coring Company's sampling technology
and is partly funded by Innovation Norway. Further details regarding this program will be issued prior to
drilling commencement.
Highlights
Teako completed an inaugural diamond drill program on the Løkken property. The program was
constrained by permitting requirements, necessitating completion by March 31 (Åmot) and April 11
(Høydal).
Åmot drill hole AM-25-001 (218.6 m) intersected 29.9 m of pyrite- and pyrrhotite-dominated
vasskis horizons, with the largest single horizon being a 20.4 m downhole intersect (between 88.5
m and 108.9 m).
Høydal drill hole HOY-25-001 (145.6 m) intersected a 4.9 m thick jasper unit (from 68.2 m to 73.1
m), which typically occurs in close proximity to VMS mineralization in the Løkken district, plus
narrow horizons of vasskis-style mineralization.
Samples from the sulfide bearing intervals at Åmot will be submitted to a certified laboratory for
comprehensive analyses of Cu, Zn, gold (Au), and antimony (Sb) (results pending).
DHEM surveys completed for both drillholes identified a below-hole EM conductor at the Høydal
target and a near edge hit at the Åmot target, with a larger EM signature nearby.
Phase II drilling is currently expected to be undertaken in late 2025.
Drill permit granted for the Fjellslett target with drilling expected to commence in summer 2025.
Sven Gollan, Chief Executive Officer, commented; "
We are pleased to be announcing the initial
observations from the first two diamond drill holes, completed at the Løkken project, both of which
confirm the potential for discoveries of new massive sulfide deposits in previously undrilled areas. We
look forward to building on the knowledge gained from this drilling and applying this towards an
expected phase II drill program in late 2025."
Drill Program Overview
Pyrite- and pyrrhotite-dominated mineralization was identified in both drill holes (see
Table
1). Samples
from the mineralized intervals at Åmot (for which initial pXRF analyses suggested elevated arsenic (As)
values, and low contents of Cu and Zn) will be submitted to a certified laboratory for comprehensive
analyses of Cu, Zn, gold (Au), and antimony (Sb) (results pending). Samples from Høydal will not be
submitted for assay at this time. Interpretations of the downhole EM surveys, received by the Company
on May 16, indicate a larger off-hole body of conductive material at Åmot and a below-hole conductor at
Høydal.
Table 1: Drill holes completed at the Løkken project
Target
Hole
ID
Easting
(WGS84, 32N)
Northing
(WGS84, 32N)
Elevation
(m)
Hole
Diamter
Azimuth
Dip
Depth
(m)
Åmot
AM-25-
001
541403
6999591
312
HQ + NQ
195
-45
218,6
Høydal
HOY-
25-001
536181
6999186
328
HQ + NQ
195
-50
145,6
Figure 1: Plan view map of drill holes AM-25-001 and HOY-25-001 with ground magnetic data
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The Åmot Target
Åmot drill hole AM-25-001 was designed to partially test a large (up to 2 km in length) coincident EM,
ground magnetic, and geochemical anomaly.
AM-25-001 was successfully completed totaling 218.6 m, intersecting multiple pyrite- and pyrrhotite-
dominated vasskis horizons (29.9 m total downhole thickness) with the largest single horizon totaling a
20.4 m downhole intersect from 88.5 m to 108.9 m. Upon literature comparison, the frequency and
thickness of the vasskis horizons logged throughout the hole (see
Picture
1) have indicated the
stratigraphic location of this drill hole to be situated within a sulfide-rich zone within the middle volcanic
member of favorable stratigraphy in the Løkken region. In VMS terrains, mineralization typically sits in a
specific horizon within the geological stratigraphy and deposits often occur in clusters. This data
provides geological understanding of the area, key for identifying potential Cu-Zn horizons. Future drilling
can thereby be planned accordingly to better target the most prospective stratigraphic layers in the
region.
Picture 1: Vasskis dominated by pyrrhotite and pyrite (AM-25-001 From 98.1 m to 104.8 m)
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The geology above the main mineralized intersect features the general structures observed in the
adjacent Løkken Mine (reported historical production of 24Mt at 2,3% Cu + 1,9% Zn)
[1]
, with remnant
pillows, and alteration akin to that seen throughout the area. Contacts with the vasskis horizons are
generally sharp, with some entrainment into the host lithology.
From the interpretations of the DHEM survey undertaken at AM-25-001, it was confirmed that the EM
signature correlates with the main vasskis unit from 88.5 m to 108.9 m. It was however noted that an off-
hole anomaly was discovered at around 105.0 m, featuring a stronger signal than that identified in hole
and is open at depth (see
Figure
2). This was interpreted from the downhole survey as a 'near-edge hit,'
suggesting the potential for a larger intersection of conductive material. A step-back hole would likely be
required to intersect the main body of mineralization. Further drilling is needed to assess the
composition of the 2-kilometer-long anomaly.
Figure 2:
Cross-section view showing drill hole AM25-001, including the interpreted EM
anomaly (black polygon).
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The Høydal Target
Høydal drill hole HOY-25-001 was designed to test a surface geochemical Cu anomaly in an undrilled
area, seeking the potential Cu-rich section of the Høydal stratigraphy that remains unidentified. To date,
mineralization identified within the Høydal area has been mostly Zn dominated.
HOY-25-001 was completed totaling 145.6 m and notably intersected a 4.9 m thick jasper bed from 68.2
m to 73.1 m (see
Picture
2) which is, to the knowledge of the Company, among one of the thickest
jasper beds discovered in the region. Historically in the Løkken district, jasper is known to be proximal to
VMS-style mineralization. Mineralization intersected consists of minor vasskis-style units and weak
disseminated pyrite mineralization. The lithologies and textures identified relate well to the known
literature of the area. At around 27-37 m the geology is variable with deformed pillows and clasts
containing jasper. This texture may relate to the talus horizons identified historically in the stratigraphy
around Høydal.
Picture 2: 4.9 m thick jasper rich unit (HOY-25-001 from 68.2m to 73.1 m)
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The highest density and the greatest thickness of jasper beds occur at the same stratigraphic level as
the Løkken and Høydal ore bodies. The sulfide-jasper relationships are well exposed at Høydal, where
jasper beds up to 5 m thick rest either directly on top of VMS deposits or on a reworked sulfide-jasper-
basalt debris flow deposit (see
Figure
3).
Figure 3: The sulfide-jasper relations at the Løkken and Høydal deposits (Tor Grenne, JF
Slack, 2018)
[2]
.
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The DHEM survey undertaken at HOY-25-001 identified a below-hole conductive body, modeled to be
situated approximately 30-40 meters below the end of hole. This conductor remains untested by drilling
(see
Figure
4), and extending HOY-25-001 is recommended to intersect this EM signature.
Figure 4: Cross-section view showing drill hole HOY-25-001, including the interpreted EM
anomaly (black polygon).
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Qualified Person
The technical information in this press release relating to the Løkken project has been prepared in
accordance with Canadian regulatory requirements as set out in National Instrument 43-101 ("NI 43-
101") Standards of Disclosure for Mineral Projects, and reviewed and approved by Eric Roth, a Non-
Executive Director of Teako and Qualified Person under NI 43- 101. Mr. Roth holds a Ph.D. in Economic
Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and
Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists. Mr. Roth has over 35 years
of experience in international minerals exploration and mining project evaluation.
About Teako Minerals Corp.:
Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to acquiring,
exploring, and developing mineral properties in Norway, focusing on critical metals such as copper,
cobalt, zinc and molybdenum. By leveraging leading-edge exploration technologies and strategic
partnerships, Teako aims to address the growing demand for essential minerals while generating value
for shareholders and stakeholders alike.
Contact Information:
Sven Gollan - CEO
T: +1 (604)-871-4301
Email:
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities
legislation, concerning the business of Teako. Forward-looking information is based on certain key
expectations and assumptions made by the management of Teako. In some cases, you can identify
forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan,"
"seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and
variations of these terms and similar expressions, or the negative of these terms or similar expressions.
Although Teako believes that the expectations and assumptions on which such forward-looking
information is based are reasonable, undue reliance should not be placed on the forward-looking
information because Teako can give no assurance that they will prove to be correct. Since forward-
looking statements address future events and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results could differ materially from those currently anticipated due to a number
of factors and risks. These include but are not limited to, risks associated with the mineral exploration
industry in general (e.g., operational risks in development, exploration and production; the uncertainty of
mineral resource estimates; the uncertainty of estimates and projections relating to production, costs
and expenses, and health, safety and environmental risks), constraint in the availability of services,
commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry,
adverse weather conditions and uncertainties resulting from potential delays or changes in plans with
respect to exploration or development projects or capital expenditures. These and other risks are set out
in more detail in Teako's interim Management's Discussion and Analysis, for the period ended October
31, 2024.
All dollar figures included herein are presented in Canadian dollars, unless otherwise noted. Neither
the CSE nor its market regulator accepts responsibility for the adequacy or accuracy of this press
release.
[1]
Historic production values quoted for Løkken are from Grenne T, Ihlen PM, Vokes FM (1999) Scandinavian Caledonide metallogeny in a plate-
tectonic perspective. Mineral Deposita 34:422-471. Teako has not performed sufficient work to verify the published data reported above, but the
Company believes this information to be considered reliable and relevant.
[2]
Grenne, T. & Slack, J.F. 2018. "Mineralogy and geochemistry of silicate, sulfide, and oxide iron formations in Norway: evidence for fluctuating
redox states of early Paleozoic marine basins. Mineralium Deposita."
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