Substantial geological works planned in Norway

April 12, 2018

Ladies and gentlemen,

We are planning substantial geological works in Norway, through our subsidiary BS Norway, across three sites where we hold licences. These licences include:

Bleka 3

Bleka hosts a gold mine that was first operated between 1800 to 1916, and then again from 1936 to 1940 just before the Second World War. Therefore, there is still likely to be significant deposits located at this site. So far recent exploration work has been limited to above ground surface work, with limited underground studies. Here we plan to find and collect 100 samples from the 10km2 site.

Tørdal 3

The Tørdal 3 license covers an area of 10km2 within the 150km2 Tørdal region. Previous exploration studies of the region revealed interesting levels of rare earth elements and scandium. We also plan to take 100 sample from this site.

Lillefjell 4,5 and 6

We hold twelve licences altogether for the Lillefjell region , covering an area of 110km2.  We plan to take 300 samples in total from three of these licenced areas (Lillefjell 4,5 and 6) across approximately 30km2.  Here, we have the right to explore nickel, copper and platinum-group metals among others.

Our London-based geological team is currently organising three teams to visit these sites. These teams will consist of between two to four geologists and geophysicists from Cambourne School of Mines, University of Exeter, which is located in the UK.

These geological teams will be using time-tested equipment, which include:

The Geometrics 857 Proton Magnetometer

This is used to map geological structures and detect minerals by measuring very small variations in the Earth’s magnetic field. It includes an inbuilt Garmin GPS system for field steering, which helps keep the survey on track.

The Geonic EM16 VLF Receiver

This is one of the most widely used metal detectors used in the mining industry with a track record of success which stretches back to the 1960s.

Five hundred samples will be found and collected in total by these three teams. These samples will then be analysed by SGS Norge, a leading inspection, verification, testing and certification company based in Norway.

We are very excited about this latest project and are confident that it will yield positive results.

The Board of Directors