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Berkut Minerals to explore near-mine cobalt opportunity in Sweden

Published: 01:51 26 Jul 2017 BST

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The project has an inferred resource of 1.3 million pounds of cobalt.

Berkut Minerals (ASX:BMT) has secured the exploration licence over the Lainejaur Project in Sweden with a historical inferred resource of 645,000 tonnes at 1.3% nickel, 0.66% copper and 0.09% cobalt.

The Lainejaur Project is located at the northwest end of the renowned Skellefteå mineral belt and only 15 kilometres from the regional centre of Malä.

The Lainejaur Project includes a historical nickel-cobalt-copper mine which was discovered in 1941 and was quickly bought into production to supply nickel for Sweden during the Second World War.

When it closed in 1945 the mine had two shafts extending to 213 metres below surface and had produced 100,526 tonnes of ore at 2.21% nickel, 0.1% cobalt and 0.93% copper.

The Lainejaur ground was largely unexplored from 1945 to 2002 when a subsidiary of Lundin Mining Corporation (TSE:LUN) secured the property before optioning it to Blackstone Minerals AB.

Blackstone drilled 39 drill holes for circa 13,200 metres in 2007 and 2008 culminating in the definition of a non-JORC resource in 2009.

Berkut recently undertook a site visit which included inspecting drill core from the Lainejaur deposit, collection of samples and inspection of historical workings.

Results from historical drilling include 7.65 metres at 2.1% nickel, 0.1% cobalt and 1.01% copper from 168 metres.

The Lainejaur Project presents an attractive near-mine exploration opportunity for Berkut which can be tested by down-hole geophysics and drilling.

There is massive and semi-massive sulphide mineralisation open at depth in an untested extension up to 1.5 kilometres in length.

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