2020-11-25: Interpretation confirms the potential regarding REE, copper and iron

Holmasjön Prospektering AB have received magnetic and electric maps on exploration permit Kallmora and received two recommended drill sites. The recommended drill sites coincide with magnetic and electric anomalies.

The recommended drill holes have a depth of 80 meters each. The anomalies start at a depth of only 15 to 20 meters below the surface, the thickness is assumed to be 60 meters.

With good results from drilling it may be relevant to drill deeper or conduct an electric I.P. survey that reach depths of 1000 meters to investigate if the anomalies have a greater potential than 60 meters.

The two anomalies that have been confirmed within Kallmora is the western that is 900-meter-long in an east-west direction and 150 meters north-south and the eastern that is 1000 meter in an east-west direction and130 meters in north-south. Only a small gap of barely 100 meters is dividing the anomalies. The magnetic and electric anomalies coincide with each other on both of the recommended drill sites.

In the eastern anomaly the SGU (Sweden Geological Survey) have taken rock samples from a slag heap with 1,3% copper, iron and two rare earth elements (REE), lanthanum and cerium.

SGU have also found more rare earth elements (REE) within this anomaly, 0,2% neodymium (78 000 USD/ton), 0,4% lanthanum and 0,5% Cerium. Beside the rare earth elements SGU have also taken rock samples that contain up to 50% of iron.

Within exploration permit Kallmora and around 300 meters from the eastern drill site the SGU have also found the rare earth elements tantalum (150 000 USD/ton) and niobium (35 600 USD/ton).

The Company will now start planning a drilling program, estimated drill start in the first half of 2021.

CEO Carl-Adam Anderssons comment

” The interpretation confirms our theories and add good news regarding thickness, depth and potential. As well as the two recommended drilling sites coincide with the magnetic and electrical anomalies”.

 

Contact

Holmasjön Prospektering AB

Slottsgatan 14                                         

553 22 Jönköping, Sweden                      info@holmasjon.se

+46(0)73 044 40 42                                 www.holmasjon.se