Botnia Exploration övertar till 100% undersökningstillståndet Jorbojokki.
Stockholm Sweden, January 19, 2010, Botnia Exploration Holding AB (“Botnia”), listed on Aktietorget: BOTX, has signed a Letter of Intent (“LOI”) with Hansa Resources Limited (“Hansa”) regarding the acquisition of a number of gold projects, primarily located in the Vasterbotten area along the famous “Gold Line” of Sweden. The most advanced property is Vargbacken with a NI 43-101 Report indicated mineral resource of 1.2 million tonnes at 1.44 g/t (56,700 ounces) gold and an accepted mineral resource of 0.9 million tonnes at 1.68 g/t (48,120) gold. Vargbacken is open along strike and at depth and is held by a Mining Lease due 2032. Hansa will receive 7 million SEK payable in three instalments over thirty months together with 237 million shares of Botnia. Approval by shareholders and regulators is required. It is hoped this transaction can close by March 31, 2010.
In addition to Vargbacken the acquisition includes the following:
- Middagsberget, located 4 km from Vargbacken, has gold mineralization drill delineated over an area of 300m X 100m and remains open along the interpreted trend of the system. Mineralization begins at 15m depth and extends to the limit of RC drilling at 80m depth.
- Middagsberget North, 550m north-west along strike from Middagsberget, has surface sampling over a 250m long bonanza-grade gold mineralization boulder train. Individual grab samples from large, locally sourced and angular boulders average 19.7 g/t with values ranging from 0.01 g/t to 60.8 g/t gold.
- Fabodliden A, B and C are three areas of bedrock gold mineralization that extends 3.1 km from the Middagsberget drill project.
- Harpsund, adjacent to Svartliden, with three gold-in-outcrop locations of high interest.
For detailed information about Vargbacken, please refer to the following reports: