Business and Financial Review • Sep 11, 2009
Business and Financial Review
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Press release no 31 - 2009
September the 11th, 2009
(OSE: IGE)
IGE Nordic AB and Archelon Mineral AB are pleased to announce the results from geological field work performed in 2009 on the Solvik Gold Project. The field work was done to follow up on gold anomalies identified from the 2008 sampling program.
The Solvik Gold Project is a 50/50 joint venture between IGE Nordic and Archelon Mineral. The field program carried out in 2009, together with earlier work, indicates:
An extensive system of quartz veining in grey gneises was found with geological mapping in outcrops at Egenäs over a length of 500 m along strike. Fourteen grab samples were taken along the zone and the quartz vein system. Resultant assays revealed up to 3 g/t Au. The quartz vein system strikes north-west and south-east, where the individual veins occur in several directions. The zone opens towards the south-west across strike, and also along strike. The mineralization is locally followed by some dissemination of pyrite. Assays from new soil samples are being tested to delineate the gold anomaly in the soil.
At Bogenäs, in between the Solvik and Egenäs zones, gold mineralized glacial boulders were found in 2007 containing up to 8 g/t Au. In 2009, quartz veins were found in outcrops in the lake Östra Silen. New boulders were discovered with up to 3 g/t Au contained in pyrite bearing quartz veins.
IGE Nordic's CEO Fredric Bratt comments, "The results from the recent field work are satisfying. These combined with a strong gold price encourages us to plan for the next steps of exploration at the Solvik project".
The Solvik Gold Project lies within the Vänern-Mjösa Goldbelt, where a large number of small gold and base metal mineralizations have been discovered. Some of these have been mined in small-scale in the past. The most recent mine was the Harnäs gold mine, 5 km to the north of Egenäs, operating form 1996 to1999. Overall, very little exploration has been carried out in the area, and new gold mineralization could be found with very limited work.
The exploration program for the Solvik Gold Project is supervised by Benny Mattsson, Chief Geologist of IGE Nordic. Benny Mattsson is registered as a Qualified Person (QP) with SveMin (Swedish Association of Mines, Mineral and Metal Producers).
IGE Nordic AB (publ) is a Swedish exploration company focused on nickel, gold, copper and zinc with an existing, large and diversified portfolio of projects in Sweden and Norway. For more information, visit www.igenordic.se.
Archelon Mineral AB (publ) is listed on the AktieTorget stock exchange with a focus on assets in the mineral sector. For more information, please visit www.archelon.se .
This press release contains or refers to forward-looking information, including statements regarding estimates and/or assumptions about potential mineralization, potential mineral resources and reserves and is based on current expectations that involve a number of business risks and uncertainties. Actual results may vary from the forward-looking information contained herein.
The Company provides this information to shareholders and analysts because they are the key drivers of the business. Readers are cautioned that this information may not be appropriate for other reasons. The Company updates its Forward-looking Information as material information becomes available.
Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, the possibility that actual circumstances will differ from the estimates and assumptions used in the potential of the Solvik Gold Project, the environmental and social cost of proceeding with any of the projects, uncertainty relating to the availability and costs of financing needed in the future, general business and economic conditions, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, changes in legislation governing emissions into the air and water, waste, and the impact of future legislation and regulations on expenses, capital expenditures and taxation and other risks involved in the mineral exploration and development industry. When used in this press release, words such as "schedule", "could", "plan", "anticipate", "estimate", "expect", "believe", "intend", "may" and similar expressions are forward-looking information.
This forward-looking Information represents the views as of the date of this press release. The company anticipates that subsequent events and developments may cause its views to change.
Tomas Fellbom CEO International Gold Exploration IGE AB Phone: +46 8 20 46 09 / Mobile : +46 73 322 57 86 E-mail: [email protected]
Fredric Bratt CEO IGE Nordic AB Phone: +46 8 402 28 00 / Mobile: +46 762 35 32 60 E-mail: [email protected]
International Gold Exploration IGE AB (publ), is a Swedish exploration and mining group focused on diamonds, nickel and gold. The Company started production of alluvial diamonds in Angola and gold in Kenya in the beginning of 2009. IGE has a portfolio of projects in Angola, Kenya, Sweden and Norway. Its shares are listed on the Oslo Stock Exchange.. IGE has its headquarter in Stockholm, Sweden.For more information, visit
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