The Lomunda concessions, covering 406 sq. km, lie immediately to the SW of the past-producing Lokken copper-zinc mine, whereas the Venna concessions, covering 448 sq. km, cover a significant strike extension of similarly prospective stratigraphy to the NE of Lokken.
The primary target types at Lomunda and Venna are high-grade copper-cobalt-zinc massive sulfide ('VMS') deposits, with copper and cobalt being critical components in batteries and the transition to green energy. The newly granted exploration claims are 100% owned by Teako and will have no minimum work commitments or landholding costs in 2024. The two new Projects, in conjunction with the copper-cobalt Vaddas project in
Highlights
Teako has been granted a total of 854 sq. km of exploration claims covering the Lomunda (406 sq. km) and Venna (448 sq. km) copper-cobalt projects,
The Company is targeting the discovery of new high-grade, copper-cobalt-rich Lokken-type VMS deposits. Host rocks to mineralization in the Lokken district are a sequence of Ordovician-age metabasalts within an overturned ophiolite sequence. The Company's 2024 reconnaissance exploration programs at Lomunda and Venna will focus on identifying and prioritizing areas containing the potential for discovering new Lokken-type VMS systems.
The Lomunda & Venna projects
The Lomunda and Venna projects are located approximately 50km SW and 30km SE, respectively, of the regional administrative centre of Trondheim,
The Lokken VMS district lies within the so-called Caledonian orogeny of
Historic production values quoted for Lokken are from Grenne T, Ihlen PM, Vokes FM (1999) Scandinavian Caledonide metallogeny in a plate-tectonic perspective. Mineral Deposita 34:422-471, TMIN has not performed sufficient work to verify the published data reported above, but the Company believes this information to be considered reliable and relevant.
Projects Strategy: The main focus of Teako's 2024 reconnaissance exploration efforts at Lomunda and Venna will be to identify and prioritize those areas containing the potential for the discovery of new Lokken-type deposits. This is expected to be achieved by utilizing a combination of: Compilation of regional geological and known mineral occurrence data, Regional soil and stream sampling programs designed to highlight areas with anomalous metal content, and Compilation and acquisition of regional geophysical data conducive to the discovery of VMS-type targets.
Teako's claims at Lomunda are contiguous to
About
Contact:
Tel: +43 5522 500429
Email: sven.gollan@teakominerals.com
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. Forward-Looking statements in this press release include 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 dated
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