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Berkut Minerals identifies potential for high-grade cobalt in Sweden

The project has witnessed historic mining from the late 1700’s to 1892.
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Exploration may rapidly advance to drilling in the second half of 2017

Berkut Minerals (ASX:BMT) has identified mined cobalt grades of between 1.25% to 2.0% from the review of historic data for the Gladhammar project in Sweden.

Berkut is in the process of acquiring a private company which holds the granted rights to several prospective cobalt projects in Norway and Sweden, including Gladhammar.

In addition, Berkut has recently applied for additional exploration permits of 600 hectares along the trend of the known Gladhammar workings.

The historic mining at Gladhammar from the late 1700’s to 1892 extended to a vertical depth of 120 metres.

Historical records indicate that the Gladhammar mine produced up to 35,000 tonnes of high-grade ore during its history.

Importantly, mined grades in the last four years of mining ranged from 1.25% to 2% cobalt with a small amount (15 tonnes) of ‘export ore’ grading 7% – 12% cobalt.

The Gladhammar deposit lies on an interpreted 4.5-kilometre long magnetic anomaly which will provide an early exploration focus for Berkut.

Pending shareholder approval of the private company acquisition on 22 May 2017, Berkut will commence an active field program to identify priority targets in each of the project areas.

Interpretation of the historical and geological data collated to date for the projects indicate that mineralisation is located proximal to magnetic anomalies.

This will allow land and air based magnetic surveys as an effective local and regional targeting tool.

Given the extensive historical workings at the projects, it is expected that exploration activities may be rapidly advanced to drilling in the second half of the 2017.



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