Pajala Copper Potential

Copper potential with significant historic intersections in proven a mining district

Anglo American undertook drilling of nine holes targeting copper in IOCG systems in 2000-2001.

A review of the logs and assays by EGT has revealed new potential for copper at Liviövaara and suggests that the exploration was abandoned following a refocusing of efforts by AngloAmerican on Nickel exploration in the Lapland greenstone belt of Finland which resulted in the discovery of the Sakatti deposit in Finland.

Alteration is widespread across all drillholes and includes regionally common scapolite alteration (sodic), potassic alteration along with chlorite, hematite, albite, silica and magnetite skarns in carbonate rich intervals containing variable magnetite, actinolite, diopside and disseminated sulphides. The final hole, 01LIV009, intersected 10.78m grading 0.38% Cu associated with a structure. As far as the Company is aware, the work and these results were not followed up or investigated further. The target is structurally hosted copper mineralisation typical of IOCG systems in North Sweden.

Historic intersections from the nine historic drill holes include:

00LIV001

  • From 27.55m:  0.6m @ 2.5 % Cu, 0.23 g/t Au
  • From 115.30m:  5.45m @ 1.23 % Cu, 221 ppm Co

00LIV003

  • From 116.65m: 28.55m @ 0.195% Cu, 158 ppm Co
  • Including from 117.85m: 19.2m @ 0.23% Cu, 161 ppm Co

00LIV004

  • From 40.15m: 8.29m @ 0.27 % Cu, 169 ppm Co
  • From 57.65m: 8.19m @ 0.2% Cu, 146 ppm Co
  • From 123.02m: 12.98m @ 0.26% Cu, 136 ppm Co
  • From 154.26m: 2.84m @ 0.42% Cu, 375 ppm Co

01LIV008

  • From 155.90m: 0.29m @ 1.06% Cu, 216 ppm Co, 430 ppb Au

01LIV009

  • From 23.7m: 10.78m @ 0.38% Cu, 195 ppm Co
  • Including 1.5m @ 0.69 % Cu from 23.7m and 0.8m @ 1.77 % Cu from 26.2m
  • From 51.96m: 12.39m @ 0.37% Cu, 288 ppm Co
  • From 239.3m: 4.15m @ 0.36% Cu, 210 ppm Co

Defined Graphite Targets

Comparable grade to the highest grade graphite projects globally

Historic work including drilling and geophysics has identified several graphite beds at both the northern Liviövaara permit and the southern Lehtosölkä permit. Graphite is the largest battery raw material by volume and therefore crucial to the EV value chain while North Sweden is expected to become Europe’s key region with one fully permitted mine and a new graphite anode plant (Talga Group), all powered by North Sweden’s 100% renewable and cheap energy. The Lehtosölkä Deposit with approximately 1.75Mt at 9.6% C and Liviövaara Deposit with >0.5Mt with 23% C offer low-risk starting points from which to grow a near-surface resource at low cost. Note these are historic non-compliant estimates and do not confirm to a modern resource reporting code. The project is located in a supportive and prospective mining district with excellent infrastructure and the Kaunisavaara skarn iron ore mine is 21km north of Liviövaara.

Seeking Partners

EGT is seeking a partner or vend of the project and is open to an ell-equity deal with a public exploration company and has a modest valuation expectation that works for both parties.

Key Project Takeaways

Project focus is discovery potential for copper and high-grade graphite, both critical to the green economy transition

Project focus is discovery potential for copper and high-grade graphite, both critical to the green economy transition

Copper demand is increasing and finding new copper exploration projects with proven mineralisation in drill core and untested upside potential is difficult

Europe needs a local and reliable supply to feed its rapidly expanding EV battery production

Excellent location and access, favourable infrastructure with abundant renewable energy and 21km from Kaunisavaara iron ore mine

Specific ESG Points:

The Pajala graphite deposits are high-grade and offer the potential for a low-impact, small footprint operation, smaller in scale compared to other deposits in the region including the Kaunisavaara iron ore mine and the Talga Resources deposit

The Board recognises the passage of reindeer through the area and will openly communicate its plans with the Sami stakeholders in tandem with local consultancy, Geovista AB

There are no immediate adjacent nature reserves within the Liviovaara permit area where the graphite and copper targets are located. Exploration within the larger Pajala permit area will take into consideration the nature designations in the wider area and work plans will be discussed with relevant stakeholders