Overview of our Main Operations

Gold Exploration, Ringvassøy, Norway

Property Description and Location

Geologically Ringvassøy in Northern Norway constitutes a window in the Scandinavian Caledonides with an Achaean greenstone belt sequence including iron- and sulfide-facies iron formation and abundant free panning gold in stream sediments. Geologically, the project area lies on the strike extension of the Biddjovagge gold deposit in Finnmark, the last operating gold mine in Norway, which closed about 20 years ago. It is believed that the area is promising with respect to Achaean vein type gold deposits.

Work Completed

Systematic exploration was started by Crew in 2000. In 2002 a systematic regional airborne geophysical study was conducted and financed by a Canadian Junior under an option agreement. The partner left the project prematurely, and the project was returned to Crew. The work until 2002 has revealed several promising targets although specific drill targets still need to be properly defined.

A follow-up program was conducted in 2005 and concentrated on two areas where combined geophysical and geochemical anomalies had been established. The Tuven/Nordkjosvata area has returned anomalous gold samples including a sample of 9 g/t within a zone of 0.4 x 1.3 km. Stream sediments from this area are highly anomalous and contain numerous free panning gold grains.

The Tuven/Nordkjosvata area was tested with deep soil sampling, a method which has been particularly successful in northern Sweden in localizing buried gold mineralization in local moraine materials. Work included detailed prospecting and structural mapping. Two senior geologists with two assistants conducted the field work in about one week.

The other focus for the summer’s exploration was the Skilelva district where two deep soil profiles were sampled across a promising structure where highly anomalous sediment samples had previously been found. The area is located around 2 km from an area where large goldbearing boulder has been found.