With the aim to develop Kukka deposit in Finland in October 2016 JV with UK-based Kolar Gold Plc. was set up. New JV company, Finnish entity, named Kalevala Gold Oy. plans to start bulk sampling and pilot processing at Kuikka form May, 2017.
With the aim to confirm continuation of high-grade Au miniralisation, during July-August 2016 MEN (Suomi) Oy completed infill drilling program at Kuikka deposit in Finland. Gold assays done by ALS Geochemical returned multiple results with gold grade more than 10 g/ton with max 180 g/ton.
Assays done by date in ALS confirm significant tungsten miniralisation at Logrosan JV project
o Hole LM008
Ø 8m @ 0.32% WO3 from 5.52m to 13.52m, including 2m @ 0.49%WO3 & 0.1% SnO2;
Ø 2m @ 0.32% WO3 from 15.52m to 17.52m
o Hole LM012
Ø 6M @ 0.08% WO3 from 7.48m to 13.48m, including 2m @ 0.11%WO3
o Hole LM014
Ø 2.7m @ >0.32% from 11.30m to 14.00m including 2m @ > 0.63% WO3 (above the tungsten detection limit of 5000ppm)
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13.03.2015 MEN (Finland) Ltd. through it’s 100% owned special purpose vehicle, Logrosan Minarals Ltd, incorporated in the UK, entered into a binding Memorandum of Understanding (“MOU”) to commence funding exploration activities for gold and tungsten in Spain under a Joint Venture (“JV”) with Metal Tiger Plc (LON: MTR). Metal Tiger Plc has the right to earn-in up to a 50% interest for 500 000 Euro.
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