Wednesday, 2nd July 2008 (427 views)

Lappland Goldminers AB have released an assessment for the Haveri Gold project in Finland.

The assessment measured 6.9 million tons and found an indicated mineral resource of 1.37 g/t of gold equivalent to 308,663 troy ounces of gold.

"A huge amount of work with geological interpretations and metallurgical studies has been performed to estimate the size of the deposit," said Lappland Goldminers AB chief executive officer Karl-Ake Johansson.

He said this means the deposit can now be considered economically viable to mine.

In addition, Mr Johansson said the mineral resource found during exploration at the Haveri Gold project has given the company the base needed to continue developing operations in the area.

Last month, Lappland Goldminers broke ground at the Faboliden gold project. The company said project in Finland may become one of the largest gold mines in Europe.

In May, the Supreme Environmental Court in Finland gave the official go-ahead for the development of the Faboliden gold project.

 

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