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Endomines expands its operations in Ilomantsi Och överger Kalvinits ilmenitprojekt

Endomines AB (year of publication), press release, 12.9.2022 at 16:00 CEST

Endomines reporter om gejällandet av en malmprospekteringsreservation for Huhus zink-bly- och järnfyndigheter belägna i Ilomantsi i östra Finland. In addition, Endomines decided to attend överge Kalvinits ilmenitprojekt i Käviä och Halsua i Västra Finland.

find hoo

Endomine plans to investigate Huhus’ gold. Endomines is granted an ore prospecting reserve of 19.57 km², covering the Huhu zinc-lead-iron deposit in Ilomantsi municipality in eastern Finland (Fig. 1). The Huhus deposit has been subject to mineral exploration since the 1950s, first by Malminetsijä Oy and later by Outokumpu Oy. 30 wells with a total length of 4,781 meters have been drilled in the area. The deposit is located in the Ilomantsi Gold Potential Greenstone Zone, about 32 kilometers southwest of the company’s Pampalo mine.

The major portion of the historic drilling core is stored in the GTK National Drilling Center Archives in Loppi. The occurrence of gold has not previously been studied in detail and no recent reserve estimate of its occurrence has been made. Re-analysis of the historic drilling center, synthesis of all past data and creation of a new 3D geological model are important steps in understanding the exploration potential of the area.

Huhu reservation for ore prospecting is valid for two years and gives the right to apply for an ore prospecting permit.

Bild 1. Huhus Ore Reserve in Ilumanci, Finland.

aluminum calvinite project

Calvinite Corporation, a wholly owned subsidiary of Endomines, has decided not to start the mining circuit operation for ilmenite deposits. This means that Koivu and other ore prospecting permits are expiring and the ilmenite deposits are no longer in Endomine’s possession. According to the new strategy, Endomines focus on prospecting for gold and ores along the Karelian Gold Line. These measures support the implementation of the chosen strategy.

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“The Huhus project is located in an area where there is potential for gold mineralization to occur. The information provided provides easy and cost-effective access to the geological data of the area. We plan to analyze and evaluate ancient gold drilling cores. The possibility of gold ore prospecting in the area. Meanwhile, “it does not support ilmenite our current strategy. This fine-tuning of the project portfolio supports our new strategy, as we place a strong focus on the Karelian Gold Line,” says CEO Kari Vetinen.

Mer information:

Kari Vitnin, CEO, [email protected]+358 40585 0050

The information was submitted, through the contact person above, for publication at 16:00 CEST on 12 September 2022.

About Endomenes

Endomines AB is a gold-focused mining company. The company is drilling in eastern Finland along the Karelian Gold Line. The company also started mining operations in Idaho, USA and Finland. Endomines aims to improve long-term growth opportunities through expansion in exploration and acquisitions. Endomines intends to acquire deposits located in stable jurisdictions, which can be brought into production quickly and with limited investment.

The stock is traded on Nasdaq Stockholm (INDO) and Nasdaq Helsinki (INDOM).