Aurion Resources Ltd told investors it has staked properties covering over 1,000 square kilometres in northeastern Finland that are prospective for gold, lithium, phosphate and rare earth elements (REE).
The Canadian exploration company said the Savu property package includes recently staked areas in two reservations totaling 1,404.7 km2 and the Auermaa property, comprised of 632.2 km2 in a reservation and two exploration permit applications.
It noted that the region is unexplored to underexplored, with grab samples from the Auermavaara prospect on the Auermaa property revealing up to 10.4 grams per ton (g/t) gold. Additionally, it said the geological terrain is considered prospective for lithium-cesium-tantalum (LCT) pegmatites.
“Gold in Central Lapland is the top priority for Aurion, however, our prospect generation business continues to be active. We are pleased to add this large and underexplored land package prospective for gold and critical minerals,” Aurion CEO Matti Talikka said in a statement.
“The recent introduction of the European Critical Raw Materials Act highlights the role of critical metals for renewable energy and electrification. We look forward to making a contribution to Finland’s pursuit of these objectives.”
Aurion said the Kaulus phosphate and REE prospect in the northeast corner of the property covers part of the Sokli carbonatite complex, belonging to the Kola Alkaline Province that extends from Russia to Finland.
It noted that the Kola Alkaline Province contains a number of carbonatites with significant phosphate, REE and/or iron deposits of which many are currently or have been in production.
The company said it intends to compile and review the historical data and plan a surface mapping and sampling program to further assess the property during the upcoming field season. It will also evaluate strategic options for critical minerals opportunities.
“Our work in vanadium helped to launch Strategic Resources, now a significant multi-national development company in which Aurion holds a significant ownership stake,” Talikka added. “We will assess alternatives for this large portfolio of critical metal exploration opportunities and aim to repeat our success with Strategic.”