Tungsten Sampling Underway In Sweden
NewPeak Metals Limited (ASX:NPM) is pleased to announce it has completed the first steps of a scoping study of the Bergslagen Tungsten Project in Sweden. The study will continue through to early 2021.
NewPeak has commenced with a sampling program of rocks at the historic prospects, pits, waste heaps and rock outcrops. The samples are being labelled, bagged and sent to an ALS Minerals laboratory in Sweden for assays.
The company said rhe Tungsten exploration permits in Sweden are a strategic and significant asset of the company’s mineral portfolio. Tungsten has been categorised by the US Department of Defence, the British Geological Survey and the European Commission as a “critical” and “strategic” raw material due to its economic importance, supply risk and therefore has little potential substitutions.
NewPeak acquired a portfolio of exploration permits in south-central Sweden, in the Bergslagen mining district near Grängesberg, from Sotkamo Silver AB. The area is host to a number of tungsten deposits, including Gubbo, Hörken, Högfors, Sandudden, Gansen and Yxsjöberg.
These areas are some of the largest known tungsten deposits in Scandinavia including the former Yxsjöberg mine which accounted for more than 90% of all the tungsten mined in Sweden.
In December 2020, the company added the Baggetorp permit to the acquisition from Sotkamo Silver AB at no additional cost.
NewPeak has engaged Geovista AB, a Swedish independent consulting company providing mineral exploration and geophysics/geology services to complete the sampling programme.
Geovista has previously worked on these Tungsten exploration permits and has an extensive background in mineral exploration in Sweden.
Geologists collected samples within the exploration permits, from pre-selected areas indicated by previous studies.
