Kuhmo Belt

A significant portion of the Archean (3.0 - 2.7 Ga) Kuhmo Greenstone Belt in East Central Finland comprises komatiitic mafic and ultramafic rocks hosting a number of nickel prospects in the geological environments similar to major nickel deposits of the Kambalda District of Western Australia. As well, regional structures and alteration assemblages typical of Archean gold environments occur with nickel and gold prospects and occurrences scattered along this north-south trending belt for a lenth of over total 220km and up to 10km wide. Although a number of nickel, gold and base metal prospects and deposits are known there, there has been no significant metal production from the Kuhmo Belt. Some exploration activity exists with the most advanced nickel exploration project being at Peura-Aho where Vulcan Resources Limited has been working for some time. The Belt has had limited mineral exploration in the past, but has been the site of some detailed university research projects aimed particularly at the komatiitic rocks. Based on regional compilation and evaluation, Magnus has identified a number of the areas for claiming in the southern part of the Kuhmo Belt as well as a known nickel deposit in the komatiite outlier at Tainiovaara about 100km to the south. To date, Magnus has claim applications over 5 known gold deposits within the 40km long south portion of the Kuhmo Belt. These include Pahasuo, Piilola, Härmälahti, Likasuo, and Iso-Aittojarvi.

At Tainiovaara, Magnus holds claims over a nickel deposit from which approximately 20,000 tons of ore grading 1.4% Ni & 0.3% Cu was extracted by Outokumpu in 1989. The mineralization, which occurs on surface, is mainly pentlandite within massive to net textured pyrrhotite and hosted by serpentinized ultramafic komatiite. The compilation and modeling of past data indicate the deposit to be a flattened, pipe-like body that plunges from the surface in a direction of N25W at 40 to 45 degrees. Drilling in the high-grade zone has intersections as high as 3.23% Ni over 20.45m and 2.08% Ni over 26.05m. Typical intercepts in the lower grade of mineralization include 0.42% Ni over 49.65m and 0.34% Ni over 45.25m. The deposit is not drilled off along strike nor below the 50m level. The existing potential is the expansion of the resource to a mineable size for open pit mining as well as to find additional ore bodies near by.