GT Resources Update - Kostonjarvi ("KS") Copper-Nickel-PGE Project, Finland
GT Resources Update - Kostonjarvi ("KS")
Copper-Nickel-PGE Project, Finland
Toronto, Ontario--(Newsfile Corp. - April 30, 2024) -
GT Resources Inc.
(
TSXV: GT) (OTCQB:
NKORF) (FSE: 7N1
) (the "
Company
" or "
GT
") is pleased to provide an update with regard to recent
work associated with the Kostonjarvi ("KS") Copper-Nickel-PGE project, located in northcentral Finland.
Highlights
The Geological Survey of Finland ("GTK") has highlighted the KS Project's potential to host
significant Copper-Nickel-Platinum Group Element ("Cu-Ni-PGE") mineralization.
The KS project is located in an interpreted, regional scale, Chonolith ("Feeder Dyke") that is
believed to be the Feeder Dyke of the Koillismaa Complex, which hosts the Company's advanced
Läntinen Koillismaa ("LK") Cu-Ni-PGE Project (Figure 1).
In 2020, GTK initiated the Koillismaa Deep Hole Project ("Project") which represented one drill
hole and various geophysical studies targetting the Feeder Dyke.
Project results have now been
published, see:
https://tupa.gtk.fi/raportti/arkisto/4_2024.pdf
Results from the Project have significantly de-risked exploration at the KS project as a result of:
1
.
Ultramafic rocks were intersected at approximately 1,400 meter depth in a diamond drill hole
collared approximately five kilometers east of the KS project.
2
.
Several Magnetotelluric ("MT") conductors have been modelled proximal to the Feeder
Dyke, which may represent Cu-Ni-PGE sulphide mineralization (Figure 3).
3
.
The Feeder Dyke's geophysical anomaly has been greatly refined via new Electromagnetic
("EM"), MT and Seismic surveys.
4
.
Geochemical, and petrographic, geochronological studies have increased knowledge of the
geology at depth within the KS project area.
A second initiative was conducted in 2023, the SEEMS DEEP Project ("Seismic and
Electromagnetic Methods for Deep mineral exploration") was conducted by a European academic
consortium which included GTK.
The SEEMS DEEP Project included additional geophysical surveys which overlapped the
eastern boundary of the KS project.
Results from this Euro 2.2 million investment are pending.
"KS is a massive sulphide Cu-Ni-PGE targeted project in a geological structure different to that of our
adjoining LK project. The LK Cu-Ni-PGE Project is hosted by disseminated sulphide at the base a large
sill like intrusion, with extremely high metal tenor (aka content).
It is believed the Feeder Dyke that hosts
KS emplaced the intrusion which hosts LK,
thus the same metal content in sulphides could exist in both
projects.
As a result, the exploration objective at KS is to discover massive sulphides at the base of the
Feeder Dyke in a trap or embayment, with the same or similar tenor to that of LK. Such a discovery
could represent a significant economic boost to a long-life mining scenario.
"Furthermore, with only 5 kilometers of a 38-kilometer mineralized trend having had sufficient drilling to
establish a mineral resource, it is believed that the LK Cu-Ni-PGE could grow its mineral endowment
significantly beyond the 90 million tonne existing NI43-101 Resource Estimate (see
June 8, 2022 news
release
).
"The work conducted by the Finnish government represents a significant investment and highlights the
significant mineral potential of our KS project to host critical battery minerals necessary for the green
transition in Europe," stated Neil Pettigrew, Vice President Exploration.
Koillismaa Deep Hole Project
Between 2020 and 2022 GTK carried out the Project on the southeastern border of the Company's KS
Project (Figure 1-3), with results only recently being published.
The primary objective of the Project was
to identify the source of geophysical anomalies occurring between the Koillismaa and Näränkävaara
intrusions which is interpreted to represent a buried ultramafic chonolith (Feeder Dyke). The Project
originally included a 3km deep diamond drill hole ("Deep Hole") to test the base of the geophysical
anomaly, where the best potential for massive Ni-Cu-PGE-rich sulphide occurs, however the hole was
stopped at a depth of 1,724m. Fortunately the hole did intersect ultramafic cumulate rocks starting at
depth of 1,410 meters, but it did not go deep enough to test the base of the anomaly where the best
potential for massive Ni-Cu-PGE-rich sulphide occurs.
Importantly, the drill hole did confirm that the gravity, magnetic and seismic anomalies were the result of
a significant accumulation of ultramafic rocks. Additional geochemical studies and lead-uranium age
dating linked these ultramafic cumulate rocks to those of the Koillismaa Complex which hosts the LK
Project.
Several
geophysical studies, including seismic and audiomagnetotellurics ("AMT"), were also
performed. This work enabled more refined modelling of the Feeder Dyke, and produced several AMT
conductors that could represent Cu-Ni-PGE mineralization that were not tested by the Deep Hole.
SEEMS DEEP project
The Koillismaa Deep Hole project also laid the foundation for the SEEMS DEEP project (Figure 4),
which overlaps the eastern boundary of KS. This new project is addressing the challenge of high costs of
mineral exploration as well as poor success rates in discovering new deep-seated ore deposits through
development of a novel workflow integrating seismic and various electromagnetic (EM) methods. The
test area of SEEMS DEEP is the Koillismaa - Näränkävaara Igneous Complex in Finland that has
potential to host several minerals included in the EU critical raw material list, especially battery related
materials. The total budget of the Project was approximately Euro 2.2 million and it is an internationally
funded project by the European Union.
KS Project Future Plans
Previous work by GTK shows the Feeder Dyke shallowing from east to west on the KS project. Plans are
underway to conduct an additional MT survey, to be guided by the result so the SEEMS DEEP project
followed by diamond drilling on shallower portions of the Feeder Dyke than those targeted by the
Koillismaa Deep Hole project. The presence of AMT conductors proximal to the Feeder Dyke outlined
along the eastern boundary of the KS project is highly encouraging and extending these conductors
further west to shallower depths will be the first phase of the KS exploration program.
Figure 1.
Location Map of the LK and KS projects and the location of the Koillismaa Deep Hole Project,
and trace of the Feeder Dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/207325_d6a9d3c454857ae7_001full.jpg
Figure 2.
Koillismaa Deep Hole Project Audiomagnetotelluric (AMT) survey. KS project outline shown in
red.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/207325_d6a9d3c454857ae7_002full.jpg
Figure 3.
Horizontal (A) and vertical (B) slices through a 3D AMT inversion model from the Koillismaa
Deep Hole Project. Depth slice of (B) is at 3 km. The red rectangle in (A) shows the location and
orientation of the main anomaly correlating with the location and orientation of the gravity anomaly.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/207325_d6a9d3c454857ae7_003full.jpg
Figure 4
. SEEMS DEEP 2023 seismic and EM surveys.
Sources:
https://tupa.gtk.fi/raportti/arkisto/4_2024.pdf
https://www.gtk.fi/ajankohtaista/kansainvaliseen-tutkimusprojektiin-liittyvat-kallioperan-syvaluotaukset-
kaynnistyivat-kuusamossa/
(in Finnish)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/207325_d6a9d3c454857ae7_004full.jpg
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P.
Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined
by National Instrument 43-101.
About GT Resources
GT Resources Inc. (TSXV: GT) is focused on discovering environmentally and socially conscious
Critical Green Transportation Metals
. A Canadian mineral exploration and development company,
GT is targeting district scale, nickel - copper sulphide and platinum-group-element (PGE) deposits in
Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-
nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-
grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow
GT
Resources
on
,
, and at
https://gtresourcesinc.com/
.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
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