Savukoski Area

The bedrock of the Savukoski Area, between the town of Savukoski and the Russian border in NE Finland, comprises Archean greenstone belts and para-gneisses intruded by Early Proterozoic (2.3 to 2.5 Ga) differentiated mafic intrusions. Although it is the one of the largest Archean terrains in Finland, it has had limited exploration in the past and a few mineral occurrences or deposits are known. Magnus Minerals holds claim reservations over two large areas of differentiated layered intrusions as well as three claim applications over the Auermavaara gold deposit. Heavy mineral studies of till in the area by Lapin Malmi in the mid-1980’s resulted in the identification of anomalous gold in the Auermavaara area where gold was then found in sulfide-bearing, garnet-rich outcrop. Highest value obtained in grab samples was 2.8 g/t Au. GTK carried out prospecting at the Auermavaara in 1998 and drilled 6 shallow POKA holes totalling 615m. They report enrichments of As, Te, W and in one hole komatiites with tourmaline-rich rock along with carbonates were encountered. Rocky terrain prevented testing by drilling of best-known areas, leading to inconclusive results. The GTK concludes that the mineralization occurs in a greenstone belt comprising bimodal volcanic sequence of komatiitic basalts and rhyolites. The rocks have been intensely metasomatically altered (Fe, Mg and carbonates), with boron, gold, tellurium, tungsten, molybdenum and arsenic enrichments.