19/10/2007 - 13:54

Dragon acquired Finnish molybdenum-copper project

19/10/2007 - 13:54

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Perth-based precious metals explorer Dragon Mining NL has secured a molybdenum-copper exploration project in northern Finland after lodging 11 claim reservations encompassing 9,350 hectares, the company has announced.

Perth-based precious metals explorer Dragon Mining NL has secured a molybdenum-copper exploration project in northern Finland after lodging 11 claim reservations encompassing 9,350 hectares, the company has announced.

 

 

The full text of a company announcement is pasted below

Dragon Mining is pleased to announce that it has secured a molybdenum-copper exploration project following the lodgement of 11 Claim Reservations encompassing 9,350 hectares in the Tepasto area, approximately 40 kilometres north of Kittilä in northern Finland. Molybdenum-copper mineralisation was initially identified in this region during the early 1970's when granite boulders containing up to 7.6% molybdenum were located. The project was identified from a specific review of the Outokumpu exploration database.

The discovery of molybdenite in boulders and outcrop in the Tepasto project area was made by Outokumpu Oy during 1978, following reconnaissance exploration in western northern Finland. Outokumpu undertook exploration during the following years, including geochemical and geophysical surveys, trenching and diamond core drilling. No further work has been undertaken in this area since Outokumpu ceased exploration in 1983.

The geochemical sampling detected several distinct molybdenum-copper anomalies from till, peat and humus material, many of which have been subjected to little if any follow-up exploration activities. Four small molybdenum-copper occurrences were also found in outcrop.

Diamond core drilling was completed across two of the identified target areas, Ruskisrova (6 holes for 844.50 metres) and Kokonpesänvaara (27 holes for 3,668.45 metres) returning a best intercept from drill hole KTA/T- 19, which assayed 0.15% Mo and 0.34% Cu over 3.08 metres. Diamond core was not systematically assayed and only base metals (copper, zinc, nickel, lead and molybdenum) were routinely run. No gold assays are apparent in the database. Better intercepts from the drilling program are provided in Table 1.

The molybdenum-copper occurrences at Tepasto are associated with aplitic granite, which represents the latter phases of the evolution of the Tepasto Intrusion Complex. Molybdenite and chalcopyrite occur typically as clusters with mica minerals. The frequency of these clusters varies greatly, even over short distances. Finer grained molybdenum dissemination has also been observed. The structure of the intrusion complex is complicated, and it is likely further molybdenum-copper mineralisation could be found within the Complex in addition to those areas already identified by Outokumpu.

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