Kangasjärvi VMS Belt

The 100 km long Kangasjärvi Belt comprises a discontinuous sequence of highly metamorphosed, Mid-Proterozoic, supra-crustal volcanic and sedimentary rocks within the Central Ore Belt of Finland. It hosts a number of important known massive sulfide base metal deposits, one of which is the Pyhäsalmi Mine which has been in production since 1954 and contains some 75 million tons of copper-zinc-silver ore. Other significant deposits are the unmined resource at Säviä (4.4 million tons of 1.4% Cu to 500 m level and very similar in geology and alteration to the Geco Mine at Manitouwadge, Ontario) and Kangasjärvi, from which Outokumpu mined a small amount of high-grade zinc ore in open pit in the early 1990’s. Magnus Minerals land holdings in the Kangasjärvi Belt include claim reservations, as well as claims and claims pending, over the Kangasjärvi deposit and the Räsysuo deposit 1km  to the SE. In the southern part of the Belt, Magnus has claim applications over the Leväniemi VMS copper deposit and Säviä ore body extensions. At Vuohtojoki, some 40 km north of the Pyhäsalmi Mine, Magnus Minerals holds claims over most of the down-dip and strike extensions of a cordierite-rich Zn-Ag-Cu VMS deposit within a sequence of altered felsic and mafic volcanics. Drill-indicated resources are about 412,000t of 3% Zn, 10g/t Ag from surface to the 60 m level. Part of the deposit is covered by a claim held by Pyhäsalmi Mines.

Kangasjärvi Mine Quick Facts: Zn-Ag massive sulfides Remaining drill-indicated resource of 300,000t @ 5.4% Zn, 0.04% Cu and 0.3g/t Au and open at depth Total production 89,000 t @ 5.12% Zn, 0.06% Cu, 41 g/t Ag from open pit 34 holes drilled totalling 7,407m including potential extensions Estimation and feasibility studies by Outokumpu

Geology The deposit is located in a syn-formal, volcanic, calc-alkaline-dominated sequence, characterized by felsic and mafic volcanics with a minor volume of intermediate volcanics. The mafic rocks in the sequence are tholeiitic, whereas the felsic and intermediate volcanics are calc-alkaline. Mineralization comprises massive sulfides lenses dipping steeply SW and plunging NE. Potential Mineable massive sulfide resource has been defined from 60m to the 200m level and open down plunge extension and along the strike. Best section encountered at depth was 8m @ 7.98% Zn, 0.15% Cu, 1.5 g/t Ag, 0.4 g/t Au. Surface ore indications at Räsysuo deposit in rocks similar to kangasjärvi add to the potential of this property.