Business
New Licences awarded in Norway
New Licences awarded in Norway.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 7926M Kodal Minerals PLC 21 July 2014 \n \n\n21 July 2014\n \nKodal Minerals plc\n(\"Kodal Minerals\" or the \"Company\")\n \nNew Licences awarded in Norway\n \nKodal Minerals, the mineral development and exploration company owning extraction licences for a phosphate and iron (titanomagnetite) project (the \"Kodal Project\") in southern Norway, is pleased to announce that the Company has been granted three new exploration licences located in western Norway. These licences cover what is being referred to as the \"Grimeli Project\" after the historic Grimeli copper mine located in the west of the licence area.\n \n \nHighlights\n \n· Kodal Minerals has been awarded three exploration permits which cover a total of 30 sq km including two previously producing copper mines known as the Grimeli mine and the smaller Vågendal mine in western Norway;\n· The larger Grimeli copper mine is located 300m from the coast and was last operational in 1920 when it produced high grade copper ore which was exported for smelting;\n· The Vågendal copper mine is located 7 km to the east of Gremeli and was mined between 1871 and 1880;\n· The Norwegian Geological Survey (\"NGU\") completed surface geophysics over the copper mines in 1979 and 1981 and calculated non-compliant estimates of approximately 1.5 million tonnes of ore at Grimeli and 700,000 tonnes at Vågendal;\n· The Company has traced a surface gossan for 1.6 km east toward Vågendal from Grimeli, encountering several historic test pits in the process before losing the trace under superficial cover; and\n· The Company will undertake a work programme over the summer to re-enter the historic copper mines to complete mapping and channel sampling and will also conduct ground geophysics to seek to trace mineralisation between the two mines.\n \nLuke Bryan, CEO, commented: \"We are pleased to be announcing these new licences, which will add a new project to the Company's portfolio, as well as diversifying our commodity interests. We believe these copper mines to be prospective based on the NGU surveys and look forward to updating shareholders once we have further investigated the geophysics.\"\n \n \nContact details: \n \n\...