Bidjovaggen gold-copper mine reopening

Arctic Gold AB was successful in the exploration in the Bidjovagge mine area in 2010-2012, when the mineral resource was doubled. A “Scoping study” was made by the consulting company Outotec Oyj in 2010. In 2012, when the mineral resource had clearly increased, the estimate was updated. The tonnage was then 2.06 million tonnes in the class Indicated mineral resource and grading 1.6 gram per ton of gold and 1.15% copper. Further, in the class Inferred resource there was 0.24 million tonnes grading 2.6 grams per ton gold and 0.9% copper. In the area of the closed Bidjovagge mine there are in several heaps “marginal ore” with estimated grades (based on sampling) 1.79 gram per ton gold and 0.6% copper. In December 2018 DMF (The Mining Directorate/Authority in charge of permits) granted Arctic Minerals (actually the subsidiary Arctic Gold AB) four new “utvinningsretter” (extraction permits, in Sweden “bearbetningskoncession”) in the vicinity of the closed gold-copper-mine. As a consequence of this the company now possess altogether 9 extraction permits, covering an area of 7.16 km2 and one exploration permit, covering one km2. In practice, Arctic Minerals possess mineral rights covering all known deposits, as well as almost the whole ore zone where good potential to find more gold-copper ores.