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News

2017 2016 2015 2014 2013 2012 2011 2010
2009 2008 2007 2006 2005 2004 2003 2002


  2017  
  June 15, 2017 Mustavaaran Kaivos raises 9.7 M€ to complete final studies on a new vanadium plant at Raahe
  2016  
  January 29th, 2016 Decision to build a vanadium plant at Raahe one step closer
     
  2015  
  October 6th 2015 Tekes grants loan to Mustavaara Clean Slag Project
  June 16th 2015 Mustavaara moves forward
     
  2013   
  December 17th 2013 Raahe port preferred site for Mustavaara smelting plant; Financing incomplete
  October 28th 2013 Akkerman Exploration expands Mineral Rights Holdings of the Seinäjoki Gold Project, Finland
  July 26th 2013 Copper Hill Resources sells its the Powderhorn and Gullbridge base metal projects to Champion Iron Mines Ltd..
  June 14th 2013 Mustavaara reports Proven Ore Reserves
  April 16th 2013 Financing for Mustavaara
  January 23rd 2013 More gold in Saarikoski target area, Seinäjoki Gold project, Finland.
  January 20th 2013 Metallurgical test work in large-scale completed successfully.
     
  2012   
  October 15th 2012 The smelter of Mustavaaran Kaivos Oy to be located in either Oulu or Raahe.
  August 17th 2012 Follow-up drilling started at Seinäjoki Gold project, Finland.
  July 15th 2012 Contract signed for Geophysical Survey, Karhujupukka Nickel project, Finland.
  July 14th 2012 New gold zone discovered at Seinäjoki Gold project, Finland.
  May 3rd 2012 Follow-up drilling started at Seinäjoki  Gold project, Finland.  
  April 2012 Feasibility Study started for Mustavaara vanadium-iron project.
  February 1st 2012 Mustavaara Project update
  January 30th 2012 Nortec enters in MOU on Karhujupukka vanadium-iron-nickel-copper-PGE project, northwest Finland.
  2011   
  November 12th, 2011 Nortec proceeds with Seinajoki gold and Kaatiala lithium-REE project.
  September 22nd, 2011 Board of Mustavaaran Kaivos Oy strengthened with new appointments.
  July 12th 2011 5 million Euro financing for the Mustavaara Project
  April the 6th 2011

Taivalkoski Municipality decides to invest in the Mustavaara Project.

  April the 2nd 2011 Widespread gold mineralization in Seinajoki drilling
  March 26th 2011

New subsidiary in Finland; Mustavaaran Kaivos Oy

  2010  
  October 16th 2010 Akkerman Exploration B.V. starts new gold project in Spain.
  September 21st, 2010 Nortec signs Option to Purchase Seinajoki gold project, Finland
  September 9th, 2010

Positive drill results from Seinajoki gold project, Finland

  June 24th, 2010

Adriana quits Mustavaara iron-vanadium-titanium project, Finland

  June 9th, 2010

First Drilling commenced at Seinajoki Gold Project, Finland

  April 11th 2010

Update Seinajoki Gold Project, Finland

  March 5th 2010 “Speculative Buy” recommendation for JV Partner Nortec.
February 4th 2010 Initial Seinajoki field checks yield high gold grades.
  January 14th 2010 High quality metal concentrate from  Kaukua project.
  2009   
  September 22th 2009 Nortec Ventures Corp. participates in Seinajoki Gold project.
  September 6th 2009 Sale of  Kaukua project.
  June 22, 2009 Final drill results Phase IV,  Kaukua.
  June 15, 2009 Akkerman Exploration B.V. acquires new exploration rights in Finland.
  April the 24th 2009 New mineral intersections to the West of Kaukua.
  March 2nd 2009 Mixed results from drilling on 3 major gravity anomalies at Powderhorn-Gullbridge project,  Newfoundland,  Canada.
  February 12th 2009

New zone of mineralization found by 3 reconnaissance holes South of Kaukua.

  February 2th 2009

New drill results for Kaukua gold-palladium-platinum deposit, Finland.

  January 7th 2009 Drill testing of 3 major gravity anomalies started at Powderhorn-Gullbridge project in Newfoundland, Canada.
  2008   
  November 26th 2008 Kaukua gold-palladium-platinum deposit continues to grow in size.
 
  November 7th 2008 100,000 C$ government grant received for the Gullbridge-Powderhorn VMS project.
  October 21th 2008 Gravity Survey at Gullbridge-Powderhorn VMS project, outlines 5 promising anomalies.
  October 14th 2008

Latest drilling results reveal much thicker part of the Kaukua deposit; 65m with an average grade of  1,57g/t PGE+Au and 0,28%Cu+Ni

  September 4th 2008

Update on results from IP geophysics and outline drilling at Kaukua project.

  July 6th, 2008 New phase of outline drilling started at Kaukua project.
  June 6th, 2008

Nortec and Akkerman start geophysical Survey to define the size and shape of the Kaukua deposit.

  May 27th 2008 Phase II drilling at Kaukua results in best PGE+Au grades ever from the Koillismaa-Naranka Complex.
  April 23th 2008 Platinum, palladium and gold grades continue to improve at the Kaukua project in Finland.
  April 10th 2008 Nortec Ventures withdraws from Koillismaa-Naranka Ni-Cu project.
  April 3th 2008 Agreement signed with Champion Minerals Inc. on the Gullbridge VMS project, Newfoundland
  March 6th 2008 Follow-up drilling of Kaukua PGE+Au started on Monday 3rd of March.
  February 12th 2008 Phase II drilling at  Kaukua PGE+Au project to start beginning of March
  January 9th 2008 More high grade drill results from the Kaukua Platinum-Palladium-Gold Property in Finland.
  2007   
  December 4th 2007 First exploration success of Akkerman Exploration at its Kaukua Platinum-Palladium-Gold Property in Finland.
  November 14th  2007

First phase drilling completed at the Kaukua and Koillismaa-Naranka projects.

  October 2th 2007 First phase of exploration drilling started on the Kaukua Platinum-Palladium-Gold Property.
  July 30th  2007

MOU signed with Nortec Ventures on the  Kaukua Platinum-Palladium-Gold Property.

  July 5th  2007 

New gold-platinum project generated in Finland, named the Kaukua Project

  July 1st  2007

Scoping study initiated on the Mustavaara iron-vanadium-titanium project

  June 19, 2007 First drill hole completed on the Koillismaa-Naranka project in Finland
  June 13, 2007 Copper Hill receives $100,000 grant from the Government of Newfoundland and Labrador for the Powderhorn Project
  May 30th  2007 First round of deep exploration drilling started at the Koillismaa-Naranka project, northeastern Finland
  May 30th  2007 Start of Scoping Study on the Mustavaara iron-vandium-titanium project
  May 10th  2007 Drill testing of the Koillismaa-Naranka EM anomalies too start in May.
  February 6th 2007 Strong conductors discovered at Koillismaa-Naranka
  January 29th 2007 Mustavaara concentrate grades confirmed by initial laboratory tests
  January 21th 2007 Preliminary Results of Deep EM survey Koillismaa
  2006   
  October 19th 2006 Helicopter Deep EM survey completed at Koillismaa-Naranka
  October 10th  2006 Independent study confirms 30Mt measured resource at  Mustavaara
  September 7th 2006 Airborne EM survey commenced at the Koillismaa-Naranka Ni-Cu-PGE project in Finland.
  July 13th 2006 Co`pper Hill Resources Inc. starts joint venture on its Powderhorn Lake property with Champion Natural Health.Com Inc.
  July10th  2006  Akkerman Exploration B.V. enters option agreement with  Adriana Resources Inc.on the Mustavaara Iron-Titanium-Vanadium mine.
  June23rd  2006  Joint venture signed with Nortec Ventures Corp. on the Koillismaa-Naranka project
  May 8th  2006  MOU signed with Nortec Ventures Corp. on Koillismaa - Naranka properties
  April 4th  2006 Copper Hill acquires mineral rights over Gullbridge Mine
  March 29th 2006 Shareholding in Copper Hill Resources Inc. increased
  2005   
  September 1st 2005

Akkerman Exploration buys part of Copper Hill Resources Inc. with 2 exploration projects in Newfoundland, Canada.

  July 27th 2005 Additional ground covered at Koillismaa, including the  Mustavaara vanadium mine
 

March 17th 2005

Additional ground covered at Naranka and new claims granted over Koillismaa
  February 9th 2005 Exclusive exploration rights granted over the Naranka ultramafic complex in NE Finland.
2004
  May 5th 2004 Letter of Intend signed with Cuban company CCN  on a Chromite project in central Cuba.
  January 1st 2004 H. Altozano, senior attorney, becomes partner.
  2003   
  March 30th 2003 MOU signed on porphyry copper-gold project in Iran.
  2002   
  July 3rd 2002 Akkerman Exploration B.V.  incorporated.




  2017  
  June 15th, 2017 Mustavaaran Kaivos raises 9.7 M€ to complete final studies on a new vanadium plant at Raahe
  2016  
  January 29th, 2016


































































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Mustavaaran Kaivos Oy
News Release
January 29th, 2016

DECISION TO BUILD A VANADIUM PLANT AT RAAHE ONE STEP CLOSER

Mustavaaran Kaivos Oy (MKOy) is now entering the feasibility study stage; the decision to build a new vanadium plant at the port of Raahe is scheduled for end 2016.

MKOy is entering the final feasibility study stage involving process optimization, engineering and design of the plant and related infrastructure. For this purpose, contracts have been awarded to several international engineering companies and equipment providers. The feasibility study phase is to be completed by end 2016. The important progress made over the past few months has been possible with a EUR 3.5M loan from Tekes as announced last October.

The new vanadium plant to be built will be the first of its kind to recycle slag to produce ferrovanadium alloy for the steel industry, pig iron for the foundry industry and various mineral products for the construction and cement industries. The raw material slag is a by-product from SSAB’s steel plants in Finland and Sweden.

In parallel with the process design, MKOy continues the funding negotiations. Good progress is made on arranging the remaining financing amongst industry partners, investment funds and financial institutions both in Finland and abroad. The next funding round is scheduled to close in April.

Results of a long-term research work and know-how

The innovative slag cleaning process is the culmination of several decades of work on slag smelting-reduction from several previous projects, e.g. IPBM and VILD led by SwereaMEFOS. The main industrial partners in these projects were SSAB (including former Ruukki) and LKAB. The VILD project was funded by MISTRA – the Swedish Foundation for Strategic Environmental Research and the industrial partners. MKOy has further advanced the technology by adding its know-how on vanadium gained from the Mustavaara vanadium-iron-titanium deposit research work.

The major efforts and investments over the past 10 years by all parties involved have now reached the point where the vanadium recovery by a smelting-reduction process is proven at pilot-plant scale. This important milestone was achieved last year at the testing facilities of SwereaMEFOS.

“We are determined to overcome the remaining hurdles and turn the Clean Slag Project into a successful innovative slag-recycling industry, contributing to a circular economy for the Finland of tomorrow”, says Jukka Pitkäjärvi, the CEO of Mustavaaran Kaivos Oy.

Additional information:
Mustavaaran Kaivos Oy
Jukka Pitkäjärvi, Managing Director
+358 44 488 7200
jukka.pitkajarvi(at)mustavaarankaivos.com
www.mustavaarankaivos.com



Mustavaaran Kaivos Oy was established in 2011. The company’s mission is to re-establish vanadium production in Finland initially by extracting vanadium from the by-products of the steel industry and subsequently by re-opening the Mustavaara vanadium mine in Taivalkoski, northeastern Finland.
 
 
  2015  
   October 6th 2015

































































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Mustavaaran Kaivos Oy
News Release
6th of October 2015

TEKES GRANTS LOAN TO MUSTAVAARA CLEAN SLAG PROJECT

The Finnish Funding Agency for Innovation (Tekes) has granted a EUR 3.5 million loan to Mustavaaran Kaivos Oy (MKOy) for the feasibility study on the processing of vanadium-containing slag from SSAB’s steel plants in Finland and Sweden (Clean Slag Project).

 The study  involves the development of an innovative process for the recovery of vanadium and various other valuable products from slag. The Tekes loan will be used to complete the feasibility study including basic engineering by the end of the 1st quarter of next year.

 A final bankable feasibility study for the Clean Slag Project preceding the construction decision of the innovative process plant at the port of Raahe is scheduled for completion by end 2016. Production is expected to begin in 2019.

 Meanwhile, discussions are continuing with several domestic and foreign parties for the funding of the bankable feasibility study and subsequent construction of the process plant. At the same time applications for all necessary permits will be prepared.

 “We are extremely pleased with the strong support from Tekes. It shows that we are on the right track towards the opening of our vanadium plant in Raahe”, says Jukka Pitkäjärvi, the CEO of Mustavaaran Kaivos Oy.

“One of the key objectives of the Tekes Green Mining programme is to pilot new, sustainable production methods. The project at Mustavaaran Kaivos Oy is also aimed at generating major investments in downstream activities, which makes the project particularly significant in the current economic conditions,” says Kari Keskinen, Green Mining Programme Manager at Tekes.

 

Additional information:
Mustavaaran Kaivos Oy
Jukka Pitkäjärvi, Managing Director

Asemakatu 37, FI-90100 Oulu, Finland
+358 44 4887200
jukka.pitkajarvi(at)mustavaarankaivos.com

www.mustavaarankaivos.com

Mustavaaran Kaivos Oy was established in 2011. The company’s mission is to re-establish vanadium production in Finland initially by extracting vanadium from the by-products of the steel industry and subsequently by re-opening the Mustavaara vanadium mine in Taivalkoski, northeastern Finland.

Vanadium is an essential metal in the rapidly expanding production of high strength construction steels with superior quality and lower weight compared to traditional steels. World-wide demand for vanadium is expected to double over the next 10 years.


  June 16th 2015







































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MUSTAVAARA MOVES FORWARD

Mustavaaran Kaivos Oy (MKOy) has entered into a Letter of Intent with Merox, a business within the SSAB Group, for the future purchase of vanadium containing slag, andan initial cooperation agreement  with Outotec  to obtain the necessary technical support to use the slag at its planned smelting plant to be built at the port of Raahe.

The vanadium containing slag, generally referred to as LD-slag, is a by-product from SSAB’s steelmaking at its operations in Finland (Raahe) and Sweden (Luleå, Oxelösund).

MKOy intends to use this slag at its planned smelting plant to be built at the port of Raahe. Processing will involve extraction of valuable components contained in the slag and convert these into ferrovanadium alloy used in the production of speciality steels and high purity pig iron for the foundry industry. The construction of the smelter is the first step in the company’s mission to re-establish vanadium production in Finland and tosubsequently re-open the historic Mustavaara vanadium mine in the municipality of Taivalkoski.

In addition to the Letter of Intent with Merox, MKOy has established an initial cooperation agreement with Outotec to obtain the necessary technical support for the realization of the new smelting facility. The scope for cooperation is intended to involve a long term relationship for the successful completion of the feasibility study, plant construction and commissioning through to the production stage. Outotec has been assigned the role of lead technology supplier.

Financing for the completion of the next phase of thefeasibility study on the LD-slag processing has recently been completed through a rights issue by MKOy entirely subscribed to by existing shareholders of the company. Total cost for the completion of a bankable feasibility study is estimated to be at least 10 million Euros.

Contact info:
Mustavaaran Kaivos Oy
Jukka Pitkäjärvi, Managing Director
Asemakatu 37, FI-90100, Oulu, Finland
+358 44 4887200

www.mustavaarankaivos.com

     
  2013   
  December 17th 2013






































































Top of Page



Mustavaaran Kaivos Oy

News Release:   17th of December 2013

RAAHE PORT PREFERRED SITE FOR MUSTAVAARA SMELTING PLANT;FINANCING INCOMPLETE

Mustavaaran Kaivos Oy (MKOy) is working since 2011 on its mission to reopen the historic Mustavaara vanadium mine. The project involves open pit mining of the large Mustavaara ore deposit and the construction of a new concentrating plant at the mine site in Taivalkoski municipality. Further processing of the concentrate to produce ferrovanadium and iron metal will be done in a new smelting plant.

Technical, environmental and land use planning studies have shown that the port of Raahe is the preferred location for such a smelter. Main advantages compared to the alternative site in Oulu are favourable existing infrastructure (access to port, rail, energy) and minimum impact to the surrounding community.

The municipality of Raahe welcomes the possible construction of the smelting plant as a valuable addition to its existing industry and creating new job opportunities. A more definitive decision on the plant construction is subject to the outcome of the company’s on-going feasibility study and all relevant regulatory permitting processes in collaboration with the environmental and municipal authorities.

Meanwhile,prevailing negative conditions of the financial markets have prevented MKOy to attract the additional capital needed to complete the feasibility study. As a result, the project is experiencing delays with planned production start-up in mid-2017 at the earliest, compared to a previous estimate of end 2016.

Earlier this month, Tamares Mining Group B.V. and Ilmarinen Mutual Pension Insurance Company, two of the main MKOy shareholders, decided to provide extra funds in the form of convertible capital loans.

Management focus in the coming months will be on continuing environmental and permitting processes for the plant sites at Taivalkoski and Raahe and on finding a strategic industry partner to join the project.

Additional information: Jukka Pitkäjärvi, Project Manager, Mustavaaran Kaivos Oy

Phone +358 44 488 72 00

Email: jukka.pitkajarvi@mustavaarankaivos.com
           www.mustavaarankaivos.com

Mustavaaran Kaivos Oy was established in January 2011. The company owns the exploration rights to the Mustavaara vanadium/iron/titanium deposit in northeastern Finland. The deposit was mined for vanadium between 1976 and 1985 by Rautaruukki Oy together with its other vanadium mine at Otanmäki and was the only producer of  vanadium in Europe.

Vanadium is an essential metal in the rapidly expanding production of high strength construction steels with superior quality and lower weight compared to traditional steels. World-wide demand for vanadium is expected to double over the next 10 years.


Mustavaaran Kaivos Oy | Asemakatu 37, FI-90100 Oulu, Finland |

Tel. +358 8 370 090 | www.mustavaarankaivos.com

  October 28th 2013



































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Akkerman Exploration expands Mineral Rights Holdings of the Seinäjoki Gold Project, Finland

Akkerman Exploration B.V. is pleased to announce that it has gained access to the prospective Sikakangas gold target in southwestern Finland, located in the centre of the Seinäjoki gold district. The Sikakangas area has been the focus of exploration by the Geological Survey of Finland (GTK) for many years. It is the area with the highest grade and most consistent gold structures discovered to date in the Seinäjoki region.

Example of drill intersections by the GTK are:

  • 21 metres @ 1.25 g/t Au from 4.1 metres, including 3 metres @ 7.17 g/t Au from 17.1  metres (Hole R523)

  • 5 metres @ 16.72 g/t Au from 3 metres (Hole R476).

Following recent withdrawal by the GTK, the area has been claimed by Akkerman Finland Oy, a 100% subsidiary company of Akkerman Exploration B.V.

The new Sikakangas claim (under application) will be added to the existing portfolio of claims of the Seinäjoki gold and Kaatiala Rare Earths joint venture with Canadian junior listed company Nortec Minerals Corp. Both parties have agreed to modify their existing Option Agreement, with the inclusion of the new Sikakangas claim and the extension of the third anniversary option payment, which is now due on September the 17th 2014.

Initial work planned on the Sikakangas gold zone, involves resampling and assaying of the unsampled parts of the previous GTK holes, in preparation for the selection of follow-up drill targets aimed at down dip extension of the mineralized structures.

A short program of 5 diamond drillholes completed earlier this year on geochemical anomalies in the Saarikoski and Marttalanniemi Zones has not resulted in significant gold intersections, the best being 0.6g/t over an 8 meter interval.  Consequently the next phase of exploration will be focused on the new Sikakangas Zone.”

  26th of July 2013




















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COPPER HILL RESOURCES sells its the POWDERHORN and GULLBRIDGE base metal projects to Champion Iron Mines Ltd.

Copper Hill Resources Inc. has sold to Champion Iron Mines Ltd. its remaining 30% and 49% interests in the joint ventures covering the Powderhorn and Gullbridge base-metal projects located in central Newfoundland.

Under the terms of the agreement, Copper Hill has received one million common shares of Champion Iron Mines Ltd. and has retaining a 1% royalty in the Gullbridge property. Champion has obtained the right to buy down the royalty in its entirety at any time by electing to either pay Copper Hill one million Canadian Dollars in cash, or issue a further one million common shares.

Copper Hill Resources Inc. is a private company with its residence in St. John’s, Newfoundland, owned by Akkerman Exploration B.V. together with two other shareholders.

Champion Iron Mines Ltd. has acquired from Copper Hill Resources Inc. the vendor's remaining 30-per-cent and 49-per-cent interests in the joint ventures covering the Powderhorn and Gullbridge base-metal projects, respectively, both of which are located in central Newfoundland.


  14th June 2013



































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MUSTAVAARA reports Proven Ore Reserves

Mustavaaran Kaivos Oy is pleased to announce a new official Ore Reserve estimate for its vanadium-iron-titanium deposit in northern Finland. The updated estimate is the result of on-going geological and mining studies conducted by the company as part of a feasibility study on the Mustavaara Project. The Official Statement was prepared by M. Merilainen and P.Lovén of Outotec (Finland) Oy, acting as Competent Persons and complies with the Australasian Code for Reporting of Mineral Resources and Ore Reserves (Joint Ore Reserve Committee – JORC-code).

The updated official Mustavaara Ore Reserve as of 31.5.2013 is:

     

Reserve class

Tonnes

Magnetite

VinMC *)

 

Mt

%

%

Proven Ore Reserve

64

13.97

0.91

Probable Ore Reserve

35

13.93

0.90

Total Ore Reserve

99

13.96

0.91

 

                *) Vanadium in Magnetite Concentrate

Main difference with the previous estimate is that the majority of the mining reserves are now classified as Proven Ore Reserves, the category with the highest level of confidence. The update also includes an updated design for the open pit and mine plan for the first 30 years of production. The average stripping ratio over the 30 year mine life is 2.55. The mining factors applied are a mining recovery of 95% and a mining dilution of 8%.

Mustavaaran Kaivos Oy is a private Finnish limited liability company, created in 2011 with the mission to bring the Mustavaara vanadium mine back into production. Akkerman Exploration B.V. is the founding and majority shareholder of the company. Other main shareholders are Finnish Ilmarinen Pension and Insurance company and Tamares Mining Group B.V..


  16th April 2013












































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FINANCING FOR MUSTAVAARA

Mustavaaran Kaivos Oy (MKOy) is pleased to announce it has raised an initial part of the financing needed (€ 15 million in total) to complete the feasibility study on its Mustavaara vanadium-iron project.

The on-going feasibility study involves development and testing of a “state of the art” smelting process for Mustavaara. Final products will be ferrovanadium and iron metal (pig iron), produced at competitive costs, low energy consumption and minimal environmental impact.

The financing was obtained by issuing new shares to Tamares Mining Group B.V. and Ilmarinen Mutual Pension Insurance Company. Mr. Tapani Järvinen, member of the board, also participated and has become a new shareholder of the company.

Tekes (the Finnish Funding Agency for Technology and Innovation) has recently provided a grant for pilot-scale smelting tests conducted by Swerea MEFOS, in addition to an earlier grant for concentrating test work at the pilot plant of the Geological Survey of Finland in 2012.

ELY-keskus (Centre for Economic Development, Transport and the Environment) is also providing financial support to MKOy in business development activities aimed at bringing the Mustavaara mine back into production.

Jan Akkerman, managing director of MKOy comments: “We are extremely grateful to Tekes and ELY-keskus for the financial support received and confidence expressed in our mission to re-open the Mustavaara mine. This support from the Finnish State is essential for junior mining companies like us, to attract the necessary funds especially during periods of economic recession like today.”


Additional information: Jukka Pitkäjärvi, Project Manager, Mustavaaran Kaivos Oy
Phone +358 44 488 72 00
Email: jukka.pitkajarvi@mustavaarankaivos.com
            www.mustavaarankaivos.com


Mustavaaran Kaivos Oy was established in January 2011. The company owns the mineral rights to the Mustavaara vanadium/iron/titanium deposit in northeastern Finland. Our goal is to bring the Mustavaara mine into production in 2017. Main shareholders of the company are the Municipality of Taivalkoski, Tamares Mining Group B.V. , Ilmarinen Mutual Pension Insurance Company and Akkerman Exploration B.V.


  23rd January 2013


















































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More gold in Saarikoski target area, Seinäjoki  Gold project, Finland.   

Follow-up till and bedrock sampling program at the Saarikoski gold target, has resulted in numerous new anomalous gold values in both till and bedrock samples. Together the samples with elevated gold content, cover an area of roughly 3000 meters long in NW-SE direction and 1000 meters wide. The long axes of the zone is parallel to the predominant structural trend in the region, interpreted to represent a crustal break with potential for “shear-zone type” gold mineralization.

Of the 200 samples analyzed, some 15% returned anomalous gold, including a maximum value of 0.52 g/t gold. The distribution of the anomalous samples can be seen on the following map.

Management is highly encouraged by these results and has scheduled a follow-up drilling program to further determine the quantity and quality of the gold mineralization in depth.

This program includes 6 diamond drill holes with a total length of 1000 meters. Drilling equipment and crew of Nivalan Drilling were mobilized to the site on the 21st of January. Supervision and logging will be carried out by Finnish geologist Turkka Rekola. Landowner permits were arranged with assistance from Elin Siggberg and Pekka Tuomela of Pöyry Finland Oy.

For more details pls. consult the news items on the Nortec Minerals Corp.
 website: www.nortecminerals.com

  20th January 2013








































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Oulu 20th January 2013

Metallurgical test work in large-scale completed successfully.

In October and November 2012, metallurgical test work in large-scale has been carried out at the Swerea-MEFOS metallurgical research Institute in Lulea, Sweden. These tests form an important part of the feasibility study work currently being carried out by Mustavaaran Kaivos Oy on its Mustavaara vanadium-iron-titanium Project.
The future operation, planned to start by the end 2016, will involve 3 main processes:

1.       extraction of ore by open-pit mining,

2.       separation of vanadium, iron and titanium in a concentrating plant

3.       production of ferrovanadium, metallic iron and titanium slag by
    treating the concentrate in a smelting plant

The first two steps are the same as applied in the seventies by Rautaruukki in the former Mustavaara mining operation. The use of smelting technology is new and will enable production of not only vanadium, but also metallic iron (pig iron) as marketable products. Over the past 4 years, the treatment of Mustavaara concentrate by smelting technology has been extensively tested at laboratory scale. This smelting process has now being submitted to larger-scale trials, at the pilot plant facilities of Swerea-MEFOS.

The first trial consisted of 5 days of continuous operation, during which 23 tons of Mustavaara concentrate were smelted in a 3 megawatt electric furnace. Titanium was separated successfully in the form of liquid slag, while +90% of the vanadium was recovered in the hot metal.

A second pilot campaign was carried out during 3 days treating the vanadium-rich hot iron metal in a converter. The purpose of this process step is to selectively oxidize the vanadium by blowing oxygen into the melt. The resulting vanadium-oxide slag can be tapped from the converter vessel and further refined into ferrovanadium as end-product. Results achieved during the converter trial were also positive and in part exceeded the expectations.

The successful outcome of the pilot plant campaign represents a major step forward in the development of a competitive smelting technology for Mustavaara and will be used in the next step of preliminary engineering of the smelting plant to be built.

     
  2012   
  October 15th 2012








































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Mustavaaran Kaivos Oy
News Release
15 October 2012

THE SMELTER OF MUSTAVAARAN KAIVOS OY TO BE LOCATED IN EITHER OULU OR RAAHE  

Mustavaaran Kaivos Oy’s (MKOy) vanadium-iron-titanium project’s technical and financial studies have reached the point where a comparison of optional locations for the smelter could be made. Until now, location options have been Oulu, Taivalkoski, Tornio and Raahe.

"After a thorough study, Oulu and Raahe are the final locations being considered for the smelter. The decision, based on a technical and financial review, enables moving forward with the mining project and strengthens our plans to construct the mine and concentrating plant in Taivalkoski,” says MKOy’s Project Manager Jukka Pitkäjärvi.

Preparation of the EIA programme and the land use planning process are continuing in Oulu and Raahe. MKOy will announce the final location of the smelter when the review is completed.

"Overall, the project is progressing on the planned schedule. The goal is to begin mining operations in 2016,” says Pitkäjärvi.

The latest estimate of the total budget for completion of the Feasibility Study for the Mustavaara vanadium-iron-titanium project is 17.5 million Euros.  MKOy intends to raise 10 to 15 million Euros through the issuance of new shares in MKOy to fund the expenses associated with completion of the Feasibility Study. It is envisaged that the investors to participate in the private placement will include new and existing investors from both Finland and the international market. MKOY recently appointed HCF International Advisers Limited (“HCF”) to assist the company in the fund raising process.  HCF is an independent financial and strategic advisory firm focused on the metals, mining and steel sectors.   

Additional information: Jukka Pitkäjärvi, Project Manager, Mustavaaran Kaivos Oy
Phone +358 44 488 72 00
Email:
jukka.pitkajarvi@mustavaarankaivos.com
www.mustavaarankaivos.com

Mustavaaran Kaivos Oy was established in January 2011. The company owns the exploration rights to the Mustavaara vanadium/iron/titanium deposit in northeastern Finland. The deposit was mined between 1976 and 1985 by Rautaruukki Oy, and at the time was a significant producer of vanadium. Our goal is to bring the Mustavaara mine back into production in 2016 and to produce iron metal as well as vanadium, and possibly also titanium. The estimated manpower requirement at the mine and concentrating plant is 100 employees, and approximately 150 at the smelter.

  17th August, 2012













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Follow-up drilling started at Seinäjoki Gold project, Finland.

Akkerman Exploration B.V. and Nortec Minerals Corp. are pleased to announce the start of a follow-up till and bedrock sampling program at the Saarikoski gold target, Seinäjoki Project, Finland.
Drilling is being carried out by Destia Oy, the same drilling company who successfully completed the previous program between April and June 2012.
The program involves around 100 additional holes to be drilled along several profiles north and south of the newly discovered gold zone at Saarikoski. Principle aim is to define the size and shape of the gold mineralization in the bedrock below the cover of glacial sediments. If confirmed, deeper diamond drilling will follow to further determine the quantity and quality of the gold mineralization in depth.
Sampling is expected to be completed by end September and analytical results should follow in October. For further information www.nortecminerals.com

  15th July, 2012















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Contract signed for Geophysical Survey, Karhujupukka  Nickel project, Finland.  

Nortec Minerals Corp. has signed a contract with Geotech Airborne Limited to conduct an airborne VTEM survey on the Karhujupukka Nickel-Copper-PGE-Au project in northern Finland. The survey is expected to be carried out in July, 2012.

The helicopter-borne VTEM system is a time-domain electromagnetic system with very low noise characteristics and deep ground penetration, combined with a magnetometer to measure the total magnetic field.

The aim of is survey is to map the Karhujupukka layered intrusions and screen the lower contact of the intrusions for the possible presence of massive to semi-massive nickel and copper sulphide mineralization.

Total length of the survey is planned to be around 400 line km.

  14th July, 2012

























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New gold zone discovered at Seinajoki Gold project, Finland.

A till and bedrock drilling program has been completed at the Seinajoki gold project in southwestern Finland. The program involved 120 shallow drill holes at 50m spacing drilled along three profiles over a total length of 6km. The thickness of the glacial overburden averaged some 4m. Only in 2 holes the underlying bedrock was at a depth of more than 15m, which was the maximum depth of the drilling machine of contractor Destia.

Assay results received from the Labtium laboratory, revealed several anomalous gold values in both till and bedrock samples. The most significant results were obtained in a new zone referred to as Saarikoski. Here 10 out of 15 holes contained anomalous gold (>10ppb) in till and in 5 holes anomalous gold was found in the underlying bedrock with a maximum of 438ppb gold. The majority of the anomalous bedrock samples consist of mica schist with variable amounts of sulphides, mostly pyrite.

The total width of the anomalous zone is in the order of 1 kilometer. It is roughly coincident with a series of geophysical anomalies that suggest the passing of a number of important fault zones.

A follow-up till and bedrock drilling program is being planned to outline the anomalous gold zone at Saarikoski and determine its overall size and direction. Field work is expected to commence in August and will take about 6 weeks to complete.

  3rd May, 2012



















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Follow-up drilling started at Seinajoki  Gold project, Finland.  

Nortec Minerals Corp. (“Nortec”) and Akkerman Exploration B.V. (“AEbv”), are pleased to report the start of a till and bedrock drilling project at the Seinajoki gold project in southwestern Finland.

The program comprises a total of 120 holes to be drilled through the glacial overburden into the underlying bedrock. The planned holes are aligned along 3 profiles across a major shear zone, passing between the Marttalanniemi and Sikakangas gold prospects.

Last year’s drilling, outlined  widespread low-grade gold at Marttalanniemi, including 0.72 grams per ton of gold over a width of 111 meter in hole number 7.

The purpose of the current drilling is to test the possible continuation of this gold mineralization below glacial overburden south of Marttalanniemi into a system of large-scale, possibly gold-bearing fault structures. Presence of such structures is inferred from airborne geophysical data and reflected as linear zones of low conductivity. The 120 holes drilled at 50m intervals represent a first test by the joint venture of the gold potential in this unknown part of the Seinajoki district.

Preliminary results are expected by early June. 

 

  April 2012





























































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Press release Mustavaaran Kaivos Oy

Feasibility Study started for Mustavaara vanadium-iron project.


Mustavaaran Kaivos Oy (“MKOy”) is pleased to announce that it has successfully completed a pre-feasibility study for its vanadium-iron project in north-central Finland. The study has taken 9 months to complete and involved a series of studies and tests at an accuracy level of +/- 30%.

Several contractors, consulting and engineering companies have participated, including Nivalan Drilling Oy, Labtium Oy, Vatjus-Micro Oy, SRK Consulting AB, Mineral Processing Laboratory of the Geological Survey of Finland, Metso Oyj, Outotec Oyj, Outotec GmbH and Swerea-MEFOS AB. Coordination, technical review, cost estimation and preparation of the pre-feasibility study report was carried out by Pöyry Finland Oyj.

Based on the results and conclusions obtained, the board of MKOY has decided to start a feasibility study for the project. Key objective of this next phase is to confirm technical and economic viability of the project at a higher level of confidence.

MKOY owns the mineral rights to the Mustavaara magnetite-gabbro deposit, extending over a distance of more than 15 kilometres. The deposit was mined for vanadium by Rautaruukki in the seventies, but forced to close due to a period of low market prices. Of the original Rautaruukki mining reserve of 38 million tonnes about 14 million tonnes were mined. Last years’ drilling by MKOy has increased remaining mining reserves in the “probable” category to 97 million tonnes, grading 13.8% magnetite and 0.91% vanadium in magnetite concentrate. These reserves are minable by open pit. They provide for a minimum mine life of 30 years at the envisaged annual mining rate of 3.25 million tonnes.

The Feasibility Study scope involves the construction of an on-site concentrating plant based on conventional technology; i.e. crushing, grinding and magnetic separation of vanadium bearing magnetite into a fine magnetite concentrate. Total annual output is anticipated to be around 450,000 tonnes. Further treatment is by an innovative smelting process developed by MKOy in collaboration with metallurgical research institute Swerea-MEFOS. Key process steps are pelletizing, pre-reduction, smelting and refining of vanadium slag into ferrovanadium. Final products based on industry scale projections amount to 320,000 tonnes of “pig iron” and 4,600 tonnes of vanadium metal in ferrovanadium. For the location of the smelter several options will be studied, one at the mine site and three along the Gulf of Bothnia, i.e. Raahe, Oulu and Tornio. 

The planned production facilities are designed for maximum recovery of the valuable metals in the ore, high process efficiency, minimum energy use and recycling of process water, dust and heat. The future operation will provide work opportunities for some 250 fulltime employees. MKOy estimates that mine development and plant construction will require a total capital investment of 436 million Euro (+/- 30%).

Annual sales revenues could reach 200 million Euro, when considering today’s market prices. Unit production costs are estimated to be amongst the lowest in the industry.

Key feasibility issues for moving the project towards a construction decision, are the confirmation of the smelting process at the larger pilot plant scale, process engineering, the selection of the preferred smelter location and completion of all necessary environmental impact and mitigation studies. Given the long time frame to obtain the environmental permit and mining concession, the feasibility study is expected to take at least 2 years to complete. The Feasibility Study will cost at least 10 million Euro, for which the company will raise additional funds.

MKOy is a private Finnish company incorporated in early 2011. Its mission is to bring the Mustavaara mine back into production. Main shareholders of the company are the Municipality of Taivalkoski, Tamares Mining Group B.V. and Akkerman Exploration B.V.. Ilmarinen Mutual Pension Insurance Company is also involved in the company through a capital loan which is convertible in shares.
 

  February 1st 2012



































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Mustavaara Project update

Mustavaaran Kaivos Oy (“MKOy”) – a Finnish company in which Akkerman Exploration holds a majority interest -   is currently finalizing a pre-feasibility study (“preFS”) for its Mustavaara vanadium-iron project which was started in July 2011.

Preliminary conclusions and recommendations of the preFS were presented at the company’s board meeting in Helsinki on the 26th of January 2012. Results from ongoing resource estimation, mine planning, concentrating and smelting tests and environmental studies indicate that the Mustavaara Project can become a significant low-cost producer of ferrovanadium and pig iron with a mine life of more than 25 years. Approximate annual metal output is estimated at 5000 tonnes of vanadium metal in ferrovanadium and 300,000 tonnes of pig iron. Technical and economic viability still need to be confirmed at a higher level of confidence during the feasibility study, envisaged to commence in April.

During the next two months, the  Mineral Processing Laboratory of the Geological Survey of Finland (GTK) at Outokumpu, will process 700 tonnes of Mustavaara ore to produce 100 ton concentrate for pilot scale metallurgical tests later this year.

Meanwhile, Mustavaaran Kaivos Oy is pleased to announce the appointment of Mr. Jukka Pitkäjärvi as the Project Manager for the Mustavaara Project, as of the 1st of February 2012.

Mr. Pitkäjärvi is a mining professional with more than 20 year’s experience in the mining business. He has been involved in the development and construction stages of several important mining projects both in Finland and in Australia. Prior to joining MKOy Mr. Pitkäjärvi held the position of General Manager of Talvivaara Exploration Ltd. and was a Member of the Talvivaara Mining Company’s management team.

Mr. Jan Akkerman, Managing Director of MKOy, commented;  “We are very pleased with the appointment of Jukka. His experience in taking larger mining projects through development  into production is an essential contribution to our project team.  Jukka is highly motivated  and has the right management skills to guide the enthusiasm of our team during the feasibility study phase towards our mission of re-opening the Mustavaara mine”.

 

  January 30th 2012









































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Nortec enters in MOU on Karhujupukka vanadium-iron-nickel-copper-PGE project, northwest Finland.  

Nortec Minerals Corp. (“Nortec”) and Akkerman Exploration B.V. (“AEbv”) , signed a Memorandum of Understanding (“MOU”) on January 24, 2012. Through this MOU, Nortec can earn an 80% interest in the Karhujupukka Iron-Titanium-Vanadium (“Fe-Ti-V”) Nickel-Copper-Palladium-Platinum-Gold (“Ni-Cu-PGE-Au”) Property.

To earn the 80% interest, Nortec will have to fund €1,500,000 in exploration expenditures over an Earn-In-Period of four (4) years following the signature of an Option Agreement. The Option Agreement will be entered into once AEbv has been granted 100% interest in the Karhujupukka Property by the Finnish mining authorities.

Upon signing of the MOU and receiving TSX Venture Exchange approval, Nortec will pay AEbv 250,000 common shares of the Company. Additional payments in shares will follow at each anniversary of the Option Agreement.

Akkerman has filed an application for 100% of legal and beneficial right, title and interest in and to seven (7) exploration claims (“Karhujupukka Property”) covering an area of 600 hectares.

The Karhujupukka Property is located in northwestern Finland, about 20 kilometers southeast of Kolari and 150 kilometers northwest of the Rovaniemi, the capital of Finnish Lapland. 

Karhujupukka is one of the few known magnetite-ilmenite deposits in Finland and was discovered by the Geological Survey of Finland (GTK) in 1988.

The Fe-Ti-V mineralization is hosted by a large mafic layered intrusion. All previous studies were aimed at the iron-titanium-vanadium mineralization. Akkerman and Nortec believe that the mafic intrusion also hosts potential for magmatic nickel-copper sulphides and platinum group minerals along the basal contact of the intrusion. This possibility has not yet been tested during previous investigations.

Signs of copper and nickel sulphides have been detected in holes drilled by GTK in the past, including chalcopyrite, pentlandite and violarite-polydymite.

Nortec and AEbv are planning airborne and ground Induced Polarization and Electromagnetic Surveys  to screen the basal contact of the intrusion for disseminated and/or massive sulphide Ni-Cu-PGE-Au deposits.  If the results warrant, this will be followed up with detailed target drilling.
 

For further details: 
http://nortecminerals.com/files/20120130-karhujupukka-property.pdf

 

  2011   
  November 12th, 2011
























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Nortec proceeds with Seinajoki gold and Kaatiala lithium-REE project.

Nortec Minerals Corp. has decided to proceed with the Seinajoki gold and Kaatiala lithium-REE Project in Southwestern Finland.

The Project consists of a series of 64 exploration claims, with a total surface extension of approximately 100 km2 over a highly prospective gold district. The exploration claims, applied for in 2009, are owned by Akkerman Exploration B.V, subject to official granting by the Ministry of Labor and the Economy.

Nortec can earn a 100% in the Project by investing 1 million Euro in the Project over a 3 year and by making certain option payments, as established in an Option Agreement between Nortec and Akkerman entered into in September 2010. Last September, Nortec informed that it will continue the exploration activities in the Seinajoki-Kaatiala Project, now entering the third year of the option term. The corresponding option premium has been paid.

Nortec’s decision is based on the encouraging results from the initial work carried out to date at the Marttalanniemi prospect in the central part of the claim area. Drilling has intersected widespread gold mineralization over total widths of up to 100m grading between 0.5 and 1.0 gram per ton gold. 

The planned follow-up program will consist of bedrock sampling (auger drilling through areas covered by thin layer of glacial sediments) and reconnaissance drilling of geophysical anomalies in the vicinity of the Marttallaniemi Prospect.  The purpose of the auger bedrock sampling will be to locate potential hidden mineralized units and structures.  Drilling by Nortec and the Geological Survey of Finland (GTK) to date was concentrated mainly on mineralized outcrops on the Marttalanniemi prospect.  

 

  September 22nd, 2011





























































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Press Release

Board of Mustavaaran Kaivos Oy strengthened with new appointments.

Following the successful financing of 5 Million Euro in July, Mustavaaran Kaivos Oy, is pleased to announce the appointment of the following new members to its board of directors:

Mr. Tapani Järvinen                Independent Non-Executive Director;

former President and Chief Executive Officer of Outotec Oyj and Outokumpu Technology and was also Executive Vice President and Member of the Group Executive Committee of Outokumpu Oyj, among others. Mr. Järvinen holds a Licentiate of Science degree in Technology from Helsinki University of Technology.

Mr. Poju Zabludowicz             Non-Executive Director;

head of The Tamares Group, a privately held network of investment companies with significant worldwide interests in real estate, private equity, venture capital and public securities. The Tamares Group is a significant shareholder of Mustavaaran Kaivos Oy, through its wholly owned subsidiary Tamares Mining Group B.V.

Mr. Timo Kärkkäinen               Non-Executive Director;

Senior Portfolio Manager for the non-listed equity investments of Ilmarinen Mutual Pension Insurance Company.  Mr. Kärkkäinen holds Master of Sciences in Economics and Business Administration degree from Helsinki School of Economics. Ilmarinen is a significant investor in MKOy through a convertible capital loan.

Other members of the board of MKOy who were previously appointed are
Mr.
Jukka Mikkonen, appointed by the municipality of Taivalkoski and
Mr.
Jan H. Akkerman, representing  Akkerman Exploration B.V.

Mrs. Tarja Pirinen, senior attorney at Kallio Law, acts as secretary to the board. 
 

The following deputy board members have also been appointed: Mr. Juhani Mäkinen, Mr. Esko Torsti, Mr. Aarre Juopperi and Mr. Raimo Varanka.

Mustavaaran Kaivos Oy is a Finnish limited liability company that owns the exploration rights to the Mustavaara vanadium-iron-titanium deposit. This deposit was mined between 1976 and 1985 by the Finnish state company Rautaruukki, accounting for 10% of the world vanadium production at that time. The main purpose of MKOy is to bring the Mustavaara mine back into production and to produce iron metal as well as vanadium.

The company is currently engaged in the completion of a pre-feasibility study for the project, to be completed by end 2011.

Leidschendam, September 22nd  2011

J.H. Akkerman, chairman of the board of MKOy

 

  July 12th 2011












































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Press release by Akkerman Exploration B.V.       (for release on the 12th of July 2011)

5 million Euro financing for the Mustavaara Project

Akkerman Exploration B.V. is pleased to announce that on the 7th of July 2011 its Finnish subsidiary company, Mustavaaran Kaivos Oy (MKOy) arranged a total of 5 million Euro for the completion of a pre-feasibility study at its Mustavaara vanadium-iron-titanium project.

The funds were obtained in the form of a share issue and a convertible capital loan. The share issue is to be subscribed by Tamares Mining Group B.V., a private company forming part of the Tamares Group, and the convertible capital loan is to be subscribed by Ilmarinen Mutual Pension Insurance Company.

The funds will be used for carrying out confirmation drillings, mine design, validation of a new process technology, environmental, infrastructure and market studies and the completion of the formal pre-feasibility study by the end of December 2011.

E.Öhman J:or Securities Finland Oy acted as the financial advisor for MKOy.

Mustavaaran Kaivos Oy is a Finnish limited liability company that owns the exploration rights to the Mustavaara vanadium-iron-titanium deposit. This deposit was mined between 1976 and 1985 by the Finnish state company Rautaruukki, accounting for 10% of the world vanadium production at that time. The main purpose of MKOy is to bring the Mustavaara mine back into production.

The Tamares Group, headed by Finnish international entrepreneur Poju Zabludowicz, is a privately held network of investment companies with significant worldwide interests in real estate, private equity, venture capital and public securities. 

Ilmarinen Mutual Pension Insurance Company is responsible for the statutory earnings-related pension security of employees and self-employed persons and the investment assets that cover future pensions. In 2010, Ilmarinen's premiums written totaled EUR 3.4 billion and the company paid out EUR 3.3 billion in pensions. The value of assets totaled EUR 28.1 billion at the end of 2010. Ilmarinen is responsible for the pension cover of 850,000 people. The company's share of the market is about one third. More information at: http://www.ilmarinen.fi

 

  April the 6th 2011

































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Taivalkoski Municipality decides to invest in the Mustavaara Project.

On Monday 4th of April, the Municipality of Taivalkoski, at its Council meeting, decided to invest up to 250,000 Euro in the ongoing studies of the Mustavaara vanadium-iron-titanium project, together with Akkerman Exploration B.V.

The Municipality will subscribe to a new share issue of Mustavaaran Kaivos Oy, a 100% subsidiary company of Akkerman Exploration B.V. This will give the Municipality a 2.5% equity ownership of the company, whose main asset is the mineral rights to the Mustavaara magnetite deposit. In addition, the Municipality of Taivalkoski has been granted an option for 30 days to subscribe to a larger amount of new shares, equivalent to an equity share of 5%.  The proceeds of the private placement will be used to fund the ongoing pre-feasibility studies of the Mustavaara project.

Akkerman Exploration B.V. is very pleased to be able to welcome the Municipality as a shareholder in the company. It will facilitate the Municipality and the local community it represents, to work side by side in a common objective to put the Mustavaara Mine back into production. The preliminary time schedule presented by Jan Akkerman and senior advisor Dr. Aarre Juopperi, comprise completion of the bankable feasibility study by end 2014 and start-up of production in the course of the year 2016.

The full article can be read on the following website:  http://www.koillissanomat.fi/etusivu/uuden_mustavaaran_
rakentaminen_mahdollisesti_2014_5201872.html

The Mustavaara vanadium-iron-titanium project is located in north-central Finland about 30km north of the village of Taivalkoski. The project hosts a large magnetite ore-deposit, which was mined in the period 1976-1985 by Finnish State company Rautarruukki, after which it was closed due to a prolonged period of low vanadium prices. Akkerman Exploration B.V. is studying the possibility to re-start mining operations at a larger scale and through a new to be built processing plant producing both ferrovanadium as well a iron metal. This would put Mustavaara back on the map as the only vanadium producer in Europe with an 8% share of the world vanadium output. Annual sales would be in the order of 200 million Euro when using today’s market prices for vanadium and iron metal (pig iron).

 

April the 2nd 2011






























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Widespread gold mineralization in Seinajoki drilling

Exploration holes drilled in 2010 by joint venture partner Nortec Minerals Corp. have discovered widespread gold mineralization at the Martalanniemi prospect, forming part of the Seinajoki gold project in Southwestern Finland.

Initial sampling of selected core samples returned gold in nearly all the samples.  It was then decided to analyses the entire length of 3 of the drillholes which gave the following results:

Hole MTL 10-001       99 m length   average grade 0.5 gram per ton gold

Hole MTL 10-004       68 m                                  0.6

Hole MTL 10-007       87 m                                  0.9      

Consistent gold mineralization over such wide intervals is quite unusual. It indicates that the gold mineralization at Marttalanniemi probably corresponds to a large and important system.

Nortec and Akkerman are encouraged by these results of their first year of exploration at Seinajoki. The level of activity will be increased in the coming year, with further drilling scheduled to define the limits to the broad zone of mineralization discovered so far and to screen this area for structures in which higher grade gold is concentrated, like the 4m wide interval of economic grade gold encountered in hole MTL 10-007 with an average content of 13.5 g/t gold.

The Seinajoki-Kaatiala gold-lithium-REE project is owned by Akkerman Exploration B.V.. Nortec Minerals Corp. entered a 3 year option agreement in 2009, by which it can earn 100% interest in the project subject to certain option payments and exploration expenditures.

More details can be found on Nortec’s website:
http://nortecminerals.com/files/2011-03-30-seinajoki-2.pdf

 

  March 26th 2011










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New subsidiary in Finland; Mustavaaran Kaivos Oy

Akkerman Exploration B.V. is pleased to announce that on the 25th of February 2011 a new subsidiary company was created in Finland.
The company name is “Mustavaaran Kaivos Oy” or Mustavaara Mine Ltd in English. Its main purpose will be to advance the Mustavaara vanadium-iron-titanium project.
During the coming months the company’s focus is to raise funds under Finnish investors for the completion of a pre-feasibility study by end 2011.
Initial fund raising is already underway and will be followed by a larger 4-6 Million Euro private equity placement by mid June 2011. To this effect the company has signed an exclusive agreement with Ohman J:or Securities Finland Ltd, to act as its agent in the contemplated private placement.

 
  2010  
  October 16th 2010























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Akkerman Exploration B.V. starts new gold project in Spain.

The company is pleased to announce the start of its first gold exploration project in Spain, referred to as “La Bomba”.

The La Bomba gold project is located in the province of Badagoz, SW Spain. The project involves part of the old Archean continental crust in the “Ossa Morena” zone. Akkerman Exploration believes this part of Spain is largely underexplored compared to the famous Iberian Pyrite Belt.  

The la Bomba gold project comprises an Investigation Permit under application, with a surface extension of 68 “cuadriculas mineras” equivalent to some 2500 hectares. This area hosts numerous surface showings of copper with anomalous gold and silver values. Previous scout drilling in the 80’ies  gave the following promising results:

11.11 meters grading 14% zinc, 5% lead, 0.4% copper,203 gram/ton silver

              7.90 meters grading 2.38 gram per ton gold

The origin and type of mineralization encountered remains to be defined.

The Project is being developed in cooperation with senior geologist Dr. Casimiro Maldonado from Spain. Historic data and information on previous exploration efforts in the area are being compiled. Once completed, the project will be offered for joint venture.

 

  September 21st, 2010














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Nortec signs Option to Purchase Seinajoki gold project, Finland

Nortec Minerals Corp. and Akkerman Exploration B.V. have recently signed an option agreement whereby Nortec can acquire a 100% interest in the Seinajoki Gold - and the Kaatiala Lithium, Rare Earth project.

The decision by Nortec to enter into this option agreement follows 12 months of  reconnaissance work and the drilling of nine initial exploration drill holes during this summer . The encouraging results from the drilling are given in the previous press release dated September 9th, 2010.

The option to purchase the Seinajoki project has a duration of 2 years and is subject to certain annual payments to Akkerman Exploration B.V. and a total exploration expenditure by Nortec on the Seinajoki property of one million Euro.

For further information pls. visit the Nortec Minerals Corp. website through the following link: http://nortecminerals.com/files/2010-09-20-seinajoki.pdf

 

  September 9th, 2010






































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Positive drill results from Seinajoki gold project, Finland

Nortec Minerals Corp. and Akkerman Exploration B.V. are pleased to report positive results from initial reconnaissance drilling at their Seinajoki gold project in southwestern Finland.

From the first 9 holes drilled, 8 holes intersected wide sections of low-grade gold mineralization. Together, these holes cover approximately a 1000m long area of up to 100m wide. Average background gold values within this area range from 0.2 to 0.5 gram per ton gold.  Such highly anomalous background gold values over wide intervals, are indicative of large-scale mineralizing systems.

The area drilled (referred to as Marttalanniemi) is one of several target areas along a 30km long lineament, the Seinajoki gold belt, interpreted to represent a regional scale fault zone.

The drilling is an initial step towards defining potential centres of higher-grade gold mineralization of economic size and grade in this belt. Several gold shoots with higher gold content have already been found in these first series of 9 holes, the most important ones being:

            Hole No.         width               gold grade

            001                  5 m                     2.1    g/t Au

            004                  6 m                     2.2    g/t Au

            007                  4 m                   13.5    g/t Au

            009                  1 m                     5.4    g/t Au

The highest gold value in a single 1m long core sample amounts to 50 g/t gold.

The above results represent a significant improvement compared to earlier drill results obtained  by the Geological Survey of Finland. The mayor part of the highly prospective gold belt remains to be drill tested.

The positive drill results in this early stage of the investigation, has enhanced the exploration potential of the Seinajoki gold belt in general and the Marttalanniemi target area in particular. It justifies the continuation of a systematic, longer term exploration program aimed at a significant new gold discovery in this part of Finland.

 

  June 24th, 2010

















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Adriana quits Mustavaara iron-vanadium-titanium project, Finland

On the 30th of June 2005, Akkerman Exploration B.V. entered into an Option Agreement with Adriana Resources Inc. through which Adriana could earn a 70% interest in the Mustavaara Property, a former vanadium producing mine in Finland.

During the first 3 years of the joint venture, Adriana and Akkerman advanced the project through the Concept Study phase with important progress made on the development of an innovative metallurgical process. Total investments during this period exceeded 2.5 million Canadian Dollars  At October 31, 2008, Adriana took a 100% write-off of the carrying value of its interest in the project.

Adriana informed today -as part of its quarterly financial statements- that in April 2010, it has sold its option rights in the Mustavaara Property to another party for  C$800,000, of which C$400,000 was paid on closing and C$400,000 is payable in September 2010.

Announcements on the resulting new structure and an update on the Mustavaara project status and future plans will be made in the near future.

 

  June 9th, 2010


















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First Drilling commenced at Seinajoki Gold Project, Finland

Akkerman Exploration B.V. is pleased to announce that joint venture partner Nortec Minerals Corp. started drilling at Seinajoki the first week of June.  Drilling forms part of a first phase of reconnaissance drilling, involving a total length of 650m.

A total of 6 targets will be tested in the will focus on the Marttalanniemi prospect in the north-central part of the project area.

The Marttalanniemi prospect has become the high-priority target following the recently identified and unsampled mineralized skarn (or greissen) zone in archive drill core that returned an intercept of 5.75 grams per tonne gold over three metres and 2.69 g/t gold over four metres (see Stockwatch news dated April 14, 2010). This zone can be traced along strike for 500 metres to the northwest. Other prospects such as Ilijoki and Sikakangas will be included in future drill campaigns upon completion of further surface sampling and geological mapping, along with logging and sampling of archive drill core.

For further information pls. visit the Nortec website using the following link:
http://nortecminerals.com/files/2010-06-07-seinajoki.pdf

 

  April 11th 2010









































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Update Seinajoki Gold Project, Finland

Claim status:

Akkerman Exploration B.V. has filed an application for 64 exploration claims, together  covering an area of more than 50km2 of the Seinajoki gold district.

The claims are located within the area reserved exclusively for the company by the Finnish Ministry of Labor and the Economy in April 2009 for a period of 1 year.

The distribution of the claims is illustrated in Fig.1 on the home page.

Data review
A comprehensive review of previous exploration activity in the area has been completed by joint venture partner Nortec Minerals Corp.. The review included re-logging and sampling of core from existing holes by the Geological Survey of Finland. Results confirm the widespread and frequent presence of gold and associated metals in bedrock and overlying soils. Features of the numerous gold showings, mineralized boulders and gold intersections in drill holes are indicative for a large system of shear-zone related gold mineralization. Residual exploration potential is high with large portions of the area remaining  untouched during previous studies, including vast areas covered by a thin layer of glacial till.

Sampling of drill core by Nortec’s project geologist has resulted in the detection of  promising gold mineralization in sections of existing drill holes which had only been partly studied in the past. The new detected gold sections are listed below:

Hole from to(m) width(m) Gold g/t Area
R347 64.5 67.5 3 5.8 Martalanniemi
R343 33.2 37.2 4 2.7  
R424 2.0 4.0 2 1.5  
R303 44.0 49.0 5 1.0 Ilijoki
R307 1.0 34.5 3.5 1.3  

Initial drill targets are being selected at the moment. Their goal will be to verify and validate some of the prospects with known promising gold mineralization exposed at surface or detected by drilling, as a starting point for the screening of the adjacent prospective areas under cover.  

Drilling is scheduled to start in May 2010.

For further information and details see the corresponding press release on the Nortec webpage: http://www.nortecminerals.com/

 

  March 5th 2010






















Top of Page

“Speculative Buy” recommendation for JV Partner Nortec.

Akkerman’s joint venture partner Nortec Minerals Inc. is being recommended as a “speculative buy” in a report by eResearch Corporation from Toronto.
Particular references are made to the Finnish exploration properties held by Akkerman Exploration BV together with Nortec Minerals.  Below two headlines from the report:

UPFRONT

Gold and rare earth metals have been all the rage for investors over the past year, and industry fundamentals suggest this is likely to continue. Nortec Minerals Corp., a diverse mining company that is active in three miningfriendly jurisdictions, could be a significant benefactor from these circumstances.

RECOMMENDATION

We recommend Nortec Minerals Corp. (“Nortec” or the “Company”) as a Speculative Buy for long-term risk-tolerant investors. Our 12-month Target Price for Nortec shares is $0.24.

To see the full report use the following link: http://www.baystreet.ca/articles/research_r
eports/eresearch/NortecMinerals030410.pdf

 

  February 4th 2010
















Top of Page

Initial Seinajoki field checks yield high gold grades.

Initial reconnaissance work by joint venture partner Nortec Minerals Corp., has confirmed the presence of high grade gold contents in the Seinajoki project area.

Best values from confirmation rock chip samples are 21 g/t Au and 70 g/t Au. Both samples are from exposed sedimentary basement rocks in the Sikakangas prospect. Sample lengths are 50 and 80 centimetres respectively.

Samples from the Kaliosalo prospect returned high lithium values, up to 1.47% Li in one sample from the large pegmatite body exposed in the Kalliosalo pit.

Initial data compilation by Nortec Minerals and Akkerman Exploration is being completed with the support of the Geological Survey of Finland. Selection of priority areas for the application of exploration claims is also in progress and will be completed by mid March, prior to expiry of the claim reservations held by Akkerman Exploration B.V.

Further details can be found via the following link:

http://nortecventures.com/media/nr_1265305947.pdf

 

  January 14th 2010


















Top of Page

High quality metal concentrate from  Kaukua project.

Nortec Minerals Corp. reports that it has been able to produce a high-quality concentrate of copper, nickel, platinum group minerals and gold from the mineralization discovered at the Kaukua project in Finland.

The concentrate produced contains 16% copper + nickel, together with 60 grams per tonne of platinum, palladium and gold. Such concentrate can probably be sold without further processing.

Metal recoveries were 93% for copper and 80% for platinum+palladium+gold. Nickel recoveries were lower at 51%, due to the fact that part of the nickel is locked up in silicate minerals.

Results were obtained through conventional flotation tests by SGS Minerals Inc. from Vancouver on core samples from drill holes in the Kaukua Main Zone. Management is very pleased with these results, as it implies relatively low capital and operating costs for the eventual exploitation of the Kaukua mineralization.
For further information the reader is referred to:
http://nortecventures.com/media/nr_1263406797.pdf

 

  2009   
  September 22th 2009



































Top of Page

Nortec Ventures Corp. participates in Seinajoki Gold project.

Nortec Ventures Corp. and Akkerman Exploration B.V. have signed a Memorandum of Understanding (MOU) whereby Nortec can earn 100% ownership of the Seinajoki Gold project in south-western Finland.

The earn-in is subject to certain payments in cash and shares to Akkerman Exploration B.V. and a total investment of 1 million Euro over a 3 year option period till the 17th of September 2012.

The Seinajoki Gold Project comprises a series of 12 claim reservations, with a total surface area of 100km2, granted to Akkerman by the Ministry of Employment and Industry on the 15th of April of 2009.

Together the claim reservations cover the main part of a known gold district of Proterozoic age (1.8-1.9 Ga), with highly favourable conditions for the formation of “orogenic” or “shear-zone” type gold deposits.

Previous geological studies by the Geological Survey of Finland, have identified widespread gold, antimony and arsenic anomalies in till, as well as numerous occurrences of gold in surface rock samples and drill core.  Local prospectors discovered gold and antimony mineralization in boulders assaying as high as 500 grams/tonne (“g/t”) gold and 70 kilograms of native antimony and stibnite.  Diamond drilling by the GTK returned best intersections of 1 metre grading 53 g/t gold and 1 metre at 28.3 g/t gold.

Work scheduled for the fall of this year includes a comprehensive compilation and analyses of previous work done in the area. Thereafter the entire property will be screened with systematic till geochemistry and an inventory of all known mineral showings in the area, to define areas for staking of exploration claims.

The location of the Seinajoki district is shown on a regional map of Finland in Fig.A and the outline of the property in Fig. B, both on the home page of this website.

For further details pls. see Nortec’s press release:

 http://www.nortecventures.com/news.php

 

  September 6th 2009






























Top of Page

Sale of Kaukua project.

Nortec Ventures Corp. and Akkerman Exploration B.V. have reached an agreement whereby Akkerman has sold its remaining share in the Kaukua PGE, Au, Cu, Ni deposit in Finland to Nortec.  

Since the start of the Kaukua joint venture in July 2007, Nortec has incurred over 1.9 million Euro in exploration expenses on the Kaukua Project. This equates to an earn-in interest for Nortec of 74.2% and a holding interest for AEbv of 25.8%.

Nortec decided to pursue the 100% acquisition of the Kaukua Project based on the very encouraging results to date, involving the discovery of a significant mineral deposit comprising platinum group metals, gold, copper and nickel mineralization, referred to as the Kaukua Main Zone (“K-MZ”).

Exploration potential for further discoveries remains high, not only in the exploration claims over the Kaukua Main Zone, but also in a series of 28 new exploration claims over ground with similar geological characteristics as found at Kaukua.
 

In exchange for the sale of its remaining interest, Akkerman Exploration B.V. will retain a 2% net smelter royalty in any future production from the Kaukua property. Nortec has the option to purchase 1% of the NSR from AEbv for 1 million Euro.

Akkerman is also granted the right to the pending value added tax (“VAT”) refunds on VAT paid by Nortec on expenditures incurred on the Property since 2007.

Akkerman will use these funds for the generation of new exploration projects.

For further details pls. visit the website of joint venture partner Nortec Ventures Corp.  http://nortecventures.com/media/nr_1252097566.pdf

 

  June 22, 2009












































Top of Page

Final drill results Phase IV,  Kaukua.

Phase IV drilling of potential strike extensions of the Kaukua PGE, Au, Cu, Ni deposit has been completed. Laboratory results on core samples from the final 6 holes (Kau09-045 to 50) have been received.

The Phase IV drilling commenced in February this year after a 2 months winter stop and comprises 2000m of diamond core drilling. In total 12 holes (totalling 2085m) have been completed, mostly drilled to search for mineral extensions to the west of the main Kaukua discovery. Chemical results on drill core samples for the last  6 holes, numbered Kau09-045 to 50. are summarised in the table below:

Hole

 

Width m

Cu%

Ni%

PGE+Au g/t

Kau 09-045

31.0

0.15

0.09

0.72

Kau 09-046

15.8

0.12

0.08

0.68

and

19.6

0.32

0.15

1.14

including

3.0

0.60

0.38

2.91

Kau 09-048

8.0

0.06

0.09

0.63

and

3.9

0.12

0.07

0.57

 

7.8

0.13

0.19

0.69

Three holes did not intersect any significant mineralization
(Kau 09-047, -49 and -50).

The final 6 holes reported above, have shown that the overall grade of the mineral horizon drops gradually to the east as the result of a higher proportion of barren  peridotite layers or dikes.

The Kaukua deposit remains open to the Southwest, in particular down-dip of hole Kau 09-039 (50m @ 1.1 g/t PGE+Au) and hole Kau09-043 (32m @ 1.4 g/t PGE+Au). Total strike extend of the Kaukua defined to date is 800m and the down-dip extend over 350m. The ore horizon attains an average thickness of 25m with an overall metal content of 0.15% copper, 0.10% nickel and 1.06 g/t PGE+Au.

A detailed infill drilling program totalling 15,000m is now being prepared, on the basis of which a drill indicated resource estimate will be made.

Metallurgical testwork is being conducted in the meantime to define the essential mineral characteristics and to define possible metal recoveries and grades in a bulk concentrate.

For further details pls. visit the website of joint venture partner Nortec Ventures Corp. http://nortecventures.com/media/nr_1245688361.pdf

 

  June 15, 2009















Top of Page

Akkerman Exploration B.V. acquires new exploration rights in Finland.

The Ministry of Labour and the Economy of Finland has recently granted 14 new Claim Reservations to Akkerman Exploration B.V. with a total surface extend of 125 km2.

A first group of 12 Claim Reservations covers a major part of the Seinajoki gold district in south-western Finland, including numerous gold-antimony occurrences, as well as tin, tungsten, copper, zinc, lead and silver. This project will be offered for joint venture, following an exhaustive compilation of previous exploration in the area and definition of priority targets and specific prospects.

The second group of Claim Reservations, secures the western extension of the Mustavaara magnetite gabbro-vanadium-titanium horizon, over a distance of some 15km. These claims provide additional resource potential to be added to the advanced-stage Mustavaara iron-vanadium project, which the company holds in joint venture with Adriana Resources Inc.

A map illustrating the location and extend of the Seinajoki Claim Reservations is shown on the Home page of the Akkerman Exploration B.V. website.
 
  April the 24th 2009


































Top of Page

New mineral intersections to the West of Kaukua.

Akkerman Exploration is pleased to announce initial results from the Phase IV drilling at the Kaukua PGE, Au, Cu, Ni project in Finland.

The Phase IV drilling commenced in February this year after a 2 months winter stop and comprises 2000m of diamond core drilling. To date 9 holes (totalling 1574m) have been completed, mostly drilled to search for mineral extensions to the west of the main Kaukua discovery.

Chemical results on drill core samples have been received  for the first  5 holes, numbered Kau09-039 to 44. Main results are summarised in the table below:

Hole

 

Width m

Cu%

Ni%

PGE+Au g/t

Kau 09-039

49.5

0.16

0.11

1.10

   including

6.2

0.32

0.17

2.24

Kau 09-040

24.1

0.06

0.07

0.57

Kau 09-041

10.0

0.13

0.10

1.14

Kau 09-042

9.7

0.15

0.15

1.28

Kau 09-043

32.0

0.19

0.14

1.39

   including

11.5

0.26

0.18

2.06

Kau 09-044

5.2

0.11

0.11

0.71

   and

5.0

0.10

0.11

0.98


The above holes have added another 200m to the strike extend of the deposit, all within open- pittable depths of less than 150m vertical.  Hole locations are shown on the map in on the Home Page. Holes 39 and 43 point to increasing grade and thickness of the mineral horizon down dip. Further possible extensions to the west and southwest are being probed by the remaining holes of the phase IV program.

For further details pls. visit the website of joint venture partner Nortec Ventures Corp. http://www.nortecventures.com/media/nr_1240642578.pdf

 

  March 2nd 2009









































































































Top of Page

Mixed results from drilling on 3 major gravity anomalies at Powderhorn-Gullbridge project,  Newfoundland,  Canada.

The first  series of priority   gravity anomalies at the Gullbridge-Powderhorn Volcanogenic-Massive-Sulphide project in Central Newfoundland, have been tested by 3 reconnaissance drill-holes.

The drilling was undertaken as part of a joint venture between Copper Hill Resources and Champion Minerals Inc. The work is being partially funded by a 2008 Government of Newfoundland grant under the “Junior Company Exploration Assistance Program”.

Initial results of this challenging program are mixed. No massive sulphides were intersected, but good looking mineralized felsic volcanics were found in large quantities.

Hole PH09-01 drilled on the first gravity target on the NW flank of the Powderhorn Felsic Dome to  depth of 599m, intersected a +250m thick pile of hydrothermally altered felsic pyroclastics. Mineralization is dominated by sphalerite, together with lead, silver and minor copper and gold over a width of 70m. This includes several half a meter thick intervals with 3-4% Zn, 10-30 g/t Ag, 0.6% Pb and 0.1% Cu. The mineralized interval is accompanied by intense quartz-sericite alteration and contains about 10% total sulphide as disseminations and stringers.

These features, together with earlier drilling at the Powderhorn Centre 1.5km to the Southeast, confirm the presence of a large base-metal generating volcanic environment, with the right features to produce an economic massive sulphide deposit. The next step will be to evaluate the drill-results and re-model the gravity data to decide whether or not to drill further holes in the remaining part of the gravity anomaly.

Results from the second hole PH09-02 conclusively explained the coincident gravity and magnetic target west of Powderhorn Lake. Below a thin surface cover the hole entered into the Dawes Pond intrusion, consisting at this location of gabbro with up to 15%  magnetite. The hole was stopped at 160m.

The third hole PH09-03, drilled on the largest gravity target near Baker Brook, in the sediment covered domain, intersected volcanic facies from 300m depth onwards. These comprised mafic volcanic flows, breccias, dikes, volcanic ash and cherty sediments, down to the bottom of the hole at 700m. The thick intersection of mafic volcanics suggests the hole has possibly reached the top of the Gull Pond Basalts that overlay the copper ore at the old Gullbridge Mine. This is the first time that volcanic lithologies have been found below the Silurian sediments east of the main structural contact (known as the “Red Indian Line”) that separates the outcropping belt of Gullbridge volcanics from the sediment covered terrain. This new finding enhances the exploration potential of the 2 other gravity highs that remain to be tested.

Further details on the drilling results can be found on the Champion Minerals website: http://www.championminerals.com/news/news.php?xnewsaction=fullnews&newsarch=022009&newsid=3


The Gullbridge and Powderhorn Base Metals Properties cover some 87.5 km2 of prospective volcanic rocks that are host the famous Buchans VMS deposits 50 km to the southwest. The former Buchans Mine produced 16 million tonnes of ore with an average grade of 1.3% copper, 15% zinc, 8% lead, 126 g/t silver and 1.4 g/t gold from 1929 to 1984.  At Gullbridge "ore reserves" reported in 1953 stood at 4.35 million tonnes grading 1.24% copper.  At the Powderhorn Property, seven diamond drill holes completed by the joint venture to-date have intersected stringer-style copper-gold-zinc-silver mineralization similar to the Gullbridge Mine mineralization.

First 2 Diamond Drilling Targets

DDH-09-01 of the current drilling program is targeting a 1.5 km by 1 km gravity high anomaly located. The gravity high is coincident with an airborne magnetic and ground InfiniTEM(TM) deep-EM anomaly. Previous drilling by the Company in the vicinity terminated in black shales with sulphide disseminations overlying felsic tuffs and cherts also containing sulphides. The proposed hole will be drilled to a depth of 500m to investigate the possibility of massive sulphides with base metals some 200m to 300m below the black shales contact.

DDH-09-02 is targeting a near circular 750m wide gravity high anomaly with a coincident intense magnetic anomaly located on the western flank of the Powderhorn Felsic Dome near the contact with the Dawes Pond Intrusive Complex. The proposed hole will be drilled to a depth of 400m to test for possible massive sulphides within the down-dip flank of the felsic tuffs and/or possible magmatic nickel-copper sulphide mineralization associated with mafic intrusive rocks. Nickel-copper sulphides occur in surface outcrops of narrow mafic dikes on Powderhorn.


Detail of gravity map with location of the 2 drill holes on the centres of the two priority gravity highs, directly north and northwest of Powderhorn Lake.

 

  February 12th 2009























































Top of Page

New zone of mineralization found by 3 reconnaissance holes South of Kaukua.

Nortec Ventures Corp. and Akkerman Exploration B.V. are pleased to announce the results of three “wild-cat” holes drilled at half a kilometer distance from the Kaukua gold-palladium- platinum deposit.  These holes were positioned to test a separate, elongated zone of high chargeability revealed by the 3-dimensional Induced Polarization study by SJ Geophysics from Canada in spring 2008. This chargeability anomaly  extends over a length of 800m, about 500m south of the main Kaukua zone.

All three holes (Kau08-35, 36 and 38) intersected disseminated sulphide mineralization of the same style and composition as found in the main zone of mineralization to the north. Mineral intersections are summarized in the table below:

Hole

 

Width m

Cu%

Ni%

PGE+Au g/t

Kau 08-035

32.95

0.17

0.13

1.05

   including

11.05

0.25

0.20

1.56

Kau 08-036

  5.70

0.27

0.16

0.89

      and

  5.00

0.21

0.19

0.99

      and

14.70

0.16

0.11

0.75

Kau 08-038 *)

12.00

0.18

0.16

0.85

      and

16.20

0.19

0.13

0.97

      and

     4.95 *)

0.17

0.13

1.12

*) Hole 38 had to be stopped at 399m depth, as the drill rig had reached its maximum depth and ended in mineralization.

The mineralization encountered in these reconnaissance holes is hosted mainly by pyroxenites at the base of the Kaukua Layered Mafic Intrusion and in the hybrid contact zone with the underlying Archean basement.

The results of these 3 test holes is very encouraging, as they demonstrate that the mineralization is not limited to the Kaukua main zone alone. Conditions necessary for the formation of the mineralization also occur outside the zone studied to date, which opens new exploration potential in the rest of the Kaukua intrusion extending several kilometers along strike to both the east and the west.

The Phase IV drilling which started this Monday the 9th of February will be used largely to further outline mineralization at the main zone defined to date.

In the meantime, an exploration plan will be prepared to screen and test the Kaukua West, East and North areas, as well as the more southerly Lipeavaara area, all part of the larger package of landholdings under application with the Ministry of Labor and the Economy.

A cross-section of hole Kau 09-036 is presented in Fig. 1 on the Home page.

Borehole locations are shown in Fig. 2. Previous drilling by the Geological Survey of Finland (blue dots) were too shallow to hit the mineralized basal contact of the intrusion.

 For further information and details pls. see the website of joint venture partner Nortec Ventures Corp. from Vancouver, Canada.

http://nortecventures.com/media/nr_1234458616.pdf
 

  February 2th 2009



















































Top of Page

New drill results for Kaukua gold-palladium-platinum deposit, Finland.

Assay results have been received for  9 additional holes that were drilled in November last year as part of the Kaukua Phase III outlined drilling program. Holes Kau 09-027, 28,29, 30, 32, 33 and 34 were all drilled to follow the extension of the mineralized horizon down-dip to the south. Holes Kau08-031 and 037 were drilled to test continuation along strike to the west.
Results are summarized in the table below:

Hole

 

Width m

Cu%

Ni%

PGE+Au g/t

Kau 08-027

  4.25

0.32

0.14

2.05

Kau 08-028

28.00

0.18

0.11

0.76

Kau 08-029

  6.45

0.17

0.11

1.45

Kau 08-030

  5.00

  5.55

0.11

0.18

0.12

0.09

1.30

1.43

Kau 08-031

no significant values

Kau 08-032

no significant values

Kau 08-033

no significant values

Kau 08-034

  1.20

0.77

0.47

0.78

Kau 08-037

68.95

0.08

0.12

0.79

        including

  4.70

0.24

0.70

2.11

        and

  0.40

0.54

5.64

8.53

Overall observations are that in southern direction the angle of the mineral zone increases to nearly vertical, into what could be a magmatic conduit.

This is accompanied by increasing amounts of sulphides and higher copper- nickel values, while platinum, palladium, gold grades are decreasing with depth.

Holes drilled further south of this steep dipping structure, encounter the mineralized zone much shallower and less well mineralized (grades generally less than 0.5 g/tPGE+Au).

This is the case in holes Kau 08-032 to 34.

Hole Kau 08-037 gave better than expected results, with a nearly 70m thick interval of continuous mineralization, including higher grade zones. Some of the narrower intervals contain near massive sulphide with high pyrrhotite and pentlandite content, illustrated by 5.64% Ni from 186 to 186.40m depth.  

The drilling of the remaining 2000m  of the 8000m program announced last year, will start in February 2009. The next drill sites will be placed to the west of hole Kau 08-037 in search of possible extensions along strike. Some additional drilling is also scheduled to the south for a better definition of the shape and width of the steep dipping E-W structure and possible zones with higher sulphide accumulation.  

For a graphic illustration of the deposit in cross-section, pls. see Fig. 3 on the Home page. Borehole locations are shown in Fig. 4.

For further information and details pls. see the website of joint venture partner Nortec Ventures Corp. from Vancouver, Canada.

 

  January 7th 2009








































Top of Page

Drill testing of 3 major gravity anomalies started at Powderhorn-Gullbridge project in Newfoundland, Canada.

Akkerman Exploration B.V. is pleased to announce that drilling has started on the Gullbridge-Powderhorn Volcanogenic-Massive-Sulphide project in Central Newfoundland.

The drilling is undertaken as part of a joint venture between partly-owned Copper Hill Resources and Champion Minerals Inc. Drilling will consist of three holes with a total length of 1,600m. The planned drill holes are targeting three high-priority targets identified from a 2008 ground gravity survey. The work is being partially funded by a 2008 Government of Newfoundland, Ministry of Natural Resources grant under the Junior Company Exploration Assistance Program.

The Gullbridge and Powderhorn Base Metals Properties cover some 87.5 km2 of prospective volcanic rocks that are host the famous Buchans VMS deposits 50 km to the southwest. The former Buchans Mine produced 16 million tonnes of ore with an average grade of 1.3% copper, 15% zinc, 8% lead, 126 g/t silver and 1.4 g/t gold from 1929 to 1984.  At Gullbridge "ore reserves" reported in 1953 stood at 4.35 million tonnes grading 1.24% copper.  At the Powderhorn Property, seven diamond drill holes completed by the joint venture to-date have intersected stringer-style copper-gold-zinc-silver mineralization similar to the Gullbridge Mine mineralization.
 

First 2 Diamond Drilling Targets

DDH-09-01 of the current drilling program is targeting a 1.5 km by 1 km gravity high anomaly located on the NW flank of the Powderhorn Felsic Dome. The gravity high is coincident with an airborne magnetic and ground InfiniTEM(TM) deep-EM anomaly. Previous drilling by the Company in the vicinity terminated in black shales with sulphide disseminations overlying felsic tuffs and cherts also containing sulphides. The proposed hole will be drilled to a depth of 500m to investigate the possibility of massive sulphides with base metals some 200m to 300m below the black shales contact.

DDH-09-02 is targeting a near circular 750m wide gravity high anomaly with a coincident intense magnetic anomaly located on the western flank of the Powderhorn Felsic Dome near the contact with the Dawes Pond Intrusive Complex. The proposed hole will be drilled to a depth of 400m to test for possible massive sulphides within the down-dip flank of the felsic tuffs and/or possible magmatic nickel-copper sulphide mineralization associated with mafic intrusive rocks. Nickel-copper sulphides occur in surface outcrops of narrow mafic dikes on Powderhorn.

 

  2008   
  November 26th 2008















































Top of Page

Kaukua gold-palladium-platinum deposit continues to grow in size.

Ongoing outline drilling at the new Kaukua PGE+Au+Cu+Ni *)  discovery in north-central Finland, continues to find further extensions of mineralization.

Latest geochemical results for core samples from holes Kau08-19 to 26, all intersected mineralization with more than 1 g/t combined PGE+Au, together with significant with copper, nickel sulphides.

The most notorious findings from these new drill holes are:

1.      Hole Kau08-22 found a limit of the deposit to the east, apparently due to a sharp bend to the south in the strike of the mineralized layer,

2.      The other 6 drill holes have added another 100m extension of the deposit down-dip to the south and southwest and mineralization remains open in both directions over a strike length of 600m in east-west direction.

3.      The thickness of the deposit increases to the south from 30m near-surface to more than 60m in the southernmost hole drilled to date (hole K08-26).

4.      Bulk grades of this thicker part of the deposit remain above 1g/t PGE and include higher grade portions towards the base, including 11,5m grading 2,95 PGE+Au.

5.      Sulphide content also increases developing semi-massive sulphides with enriched copper, nickel grades as illustrated by the following intersection in hole 26:

Hole No

depth m

width m

Cu%

Ni%

Au g/t

Pd g/t

Pt g/t

PGE+Au

Kau08-026

218-219

1

1,4

0,7

0,3

3,3

1,2

4,8

 

169-219

60

0,17

0,12

0,06

0,71

0,25

1,02

Drilling has advanced to the point where 38 holes have now been drilled since the start of exploration by Akkerman Exploration B.V and Nortec Ventures Corp. roughly a year ago. Geochemical results for holes 27-38 are pending and will be released as they become available from the Labtium laboratory in Finland. Drilling will resume early 2009.

For a graphic illustration of the deposit in cross-section, pls. see Fig. 1 on the Home page. Borehole locations are shown in Fig. 2.

For further information and details pls. see the website of joint venture partner Nortec Ventures Corp. from Vancouver, Canada.

*) PGE+Au+Cu+Ni, means platinum group elements with gold, copper and nickel.

 

  November 7th 2008























Top of Page

100,000 C$ government grant received for the Gullbridge-Powderhorn VMS project.

Copper Hill Resources Inc. ("Copper Hill") is pleased to announce that it has received confirmation from the Government of Newfoundland and Labrador via the Minister of Natural Resources that it has been awarded a grant in the amount of $100,000.00 as part of the Junior Exploration Assistance program.

This grant will facilitate Copper Hill's ongoing exploration program, in conjunction with joint venture partner, Champion Minerals Inc., at the Gullbridge-Powderhorn Lake VMS project in Central Newfoundland, near the famed Buchans and Gullbridge mining camps.

Copper Hill wishes to acknowledge and thank the Department of Natural Resources for this valuable assistance to its exploration efforts.

Copper Hill Resources Inc. is a partly owned subsidiary of Akkerman Exploration B.V. Copper Hill Resources Inc. entered into an exploration joint venture with Champion Minerals for the Powderhorn project in June 2006. The Gullbridge project was added to the joint venture in April 2008.

Copper Hill is a private corporation based in St. John's, Newfoundland and Labrador. Details on the Gullbridge-Powderhorn Project can also be found on the website of Champion Minerals Inc., at www.championminerals.com

Champion Minerals Inc. is a TSX Venture-listed public company.

 

  October 21th 2008




























Top of Page

Gravity Survey at Gullbridge-Powderhorn VMS project, outlines 5 promising anomalies.

Champion Minerals and Copper Hill Resources Inc. have recently completed a gravity survey over the Gullbridge-Powderhorn Volcanogenic Massive Sulpide (“VMS”) project, in Newfoundland, Canada.
The ground gravity survey was conducted by Abitibi Geophysics, consisting of 1,360 gravity stations on 200m centers, covering a total surface area of 57,5km2.
The survey area is located between the historic Gullbridge copper mine and the Powderhorn copper-zinc-gold showings. This area is largely covered by post-mineral sediments. The joint venture partners believe the prospective volcano-sedimentary series that host the known VMS-style mineralization at Gullbridge and Powderhorn occur at depth in this area below the cover sediments and could host one or more massive sulphide deposits. The proposed exploration target and exploration approach is similar to the Neves Corvo deposit in the Pyrite Belt of southern Portugal, which was discovered based on gravity surveying.

The gravity survey completed at Gullbridge-Powderhorn has outlined 5 important residual gravity anomalies, partly coincident with magnetic highs. The amplitude, size and shape of each of these 5 gravity anomalies are conformable to what is expected in the case of massive sulphide deposits of volcano-sedimentary origin. One of the 5 targets is located close to the so-called Dawes Pond intrusive complex and could also be caused by a mafic intrusion with potential for magmatic nickel-copper sulphides.

For further details the reader is referred to the news page of:
www.championminerals.com

Akkerman Exploration B.V. is a major shareholder of Copper Hill Resources Inc.
Copper Hill Resources Inc. entered into an exploration joint venture with Champion Minerals for the Powderhorn project in June 2006. The Gullbridge project was added to the joint venture in April 2008.
 

  October 14th 2008

































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Latest drilling results reveal much thicker part of the Kaukua deposit; 65m with an average grade of  1,57g/t PGE+Au and 0,28%Cu+Ni

About 70% of the current Phase III of 8000m outline drilling has been completed. In total 19 new holes (15-34) completed in 2 months since the beginning of July. Hole locations are shown on the accompanying map (see Fig. 2 on the home page).  

Assay results have been received for holes 15, 16, 17 and 18.

Of these, hole 18 returned the thickest mineral intersection to date at Kaukua, being 65m with an average grade of 1,57 g/tPGE+Au and 0,28%Cu+Ni. This 65m width is more than  twice as much as the average thickness of 30m obtained in the 15 holes drilled during phases I and II.  

The favorable development of the Kaukua deposit as it is being followed by drilling in depth is illustrated in cross section in Fig. 1. In this figure results of hole 18 are compared with earlier holes 4 and 8 and the same section in N-S direction. Apart from the thickening of the mineralization, it can also be seen that the mineralization in drill core is coincident with an anomaly of high IP chargeability. The continuation of this anomaly towards the south opens up excellent exploration potential over a much larger area than the northern part of the area drilled to date. It is also important to note that the vertical depths of the extended target horizon remain within the range of open pit mining (100 to 250m).

Results from holes 15 and 17 are in line with earlier drill results, whereas lower grades from hole 16 drilled at the east end, confirm that mineralization ends in that direction. 

It is now 12 months since the start of drilling by the Akkerman-Nortec joint venture. Both partners are very pleased with the fact that with every time more work is done, the Kaukua deposit continues to grow in size, while PGE+Au grades remain consistent above 1g/t,  including sizeable higher grade zones above 2g/t. 

Further details on the results from the current phase III drilling can be found on the website of Nortec (www.nortecventures.com).

 

  September 4th 2008













































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Update on results from IP geophysics and outline drilling at Kaukua project.

SJ Geophysics from Canada delivered results from the three-dimensional Induced Polarisation (3-D IP) survey. The survey successfully outlined an extensive zone of high chargeability, which is interpreted to be (at least in part) related to the sulphide mineralization along the basal contact of the Kaukua mafic layered intrusion. The size and shape of the anomaly is illustrated in plans and cross-sections on the home page of this website. Most significant observations is the large extend of the IP chargeability anomaly compared to  the area drilled to date, especially to the south and southeast. Drilling to date has intersected the northern part of the anomaly and correlates very well with the mineral intersections obtained. Also the interpreted southern-dip of the mineral horizon coincides with the shape of the IP anomaly as seen in cross-section. Further down-dip, the IP anomaly appears to be flattening to a sub-horizontal position and then become shallower again towards the southern boundary of the Kaukua intrusion, about 1km to the south.

The Phase III outline drilling conducted by Nivalan Timanttikairaus Oy has advanced rapidly with 14 new holes (3100m in total) completed in 2 months since the beginning of July. Hole locations are shown on the accompanying map (see home page).  Based on the results obtained a decision was made to extend the drilling contract to a total of 8000m to be completed towards the end of the year.

Assay results are pending. Sample turn-around has increased due to the summer holiday period and because Labtium is moving its laboratory to a new facility. Initial visual observations on drill core indicate continuity of the mineralized zone to the south in the new holes drilled. Depths of intersection of the mineral horizon remain shallow, in line with the IP data described above. Extensions along strike below a area of swamps and bog will be drill tested in the winter season when these wet areas are frozen and access with the heavy drill equipment will have less impact on the environment.   

In the meantime, the Chief Inspector of Mines in Finland, has informed that the Kaukua exploration licenses 1-3 have now been officially granted to Akkerman Exploration B.V.. Together with the surrounding claim reservation granted earlier this year, Akkerman and Nortec now control the main part of the Kaukua intrusion.  Those that remained outside are now being applied for. For further details see the Kaukua project page on this website.

 

Cumulative exploration expenditures on the Kaukua project since the start of the joint venture in July 2007, have reached 600,000 Euro in August. These were all funded by Nortec, in exchange for a 70% ownership in the project as part of the option agreement signed between Akkerman and Nortec. Nortec can earn an additional 10% equity interest by funding the next 2,5 million Euro’s.  

For further information see also: http://nortecventures.com/media/nr_1220551501.pdf

 

  July 6th, 2008











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New phase of outline drilling started at Kaukua project.

On Friday the 4th of July, a new phase of 3000m of diamond core drilling has started at the Kaukua project, with an option to an additional 5000m.
The purpose of the Phase III drilling is to further outline the PGE+Au deposit discovered during the earlier drilling. Holes are positioned to intersect possible down-dip and strike extensions of the mineralization guided by the results of the recently completed 3-D IP survey. Modeling of the IP chargeability responses is nearly completed and will be reported in due course.
Drilling is carried out by Nivalan Timanttikairaus Oy using a brand new Atlas Copco exploration drilrig (see also pictures on the home page).

For further information see also:
http://nortecventures.com/media/nr_1215190036.pdf

 

  June 6th, 2008























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Nortec and Akkerman start geophysical Survey to define the size and shape of the Kaukua deposit.

Nortec Venture and Akkerman Exploration announce the start of a geophysical survey today at the Kaukua PGE+Au project in north central Finland.
The survey is done using the 3-dimensional Induced Polarization Method (3-D IP). This survey technique transmits an electrical field into the ground, resulting in the polarization of sulphide minerals which can be detected via a receiver. The method is known to work particularly well to “map” disseminated metallic minerals as is the case at Kaukua.
The survey is being executed by SJGeophysics Ltd of Vancouver. More detailed information, background and case histories can be found at: 
www.sjgeophysics.com

The survey area is 2km long and 1,1km wide, covering the 600*250m area drilled to date, as well as potential extensions along strike and down dip.  Results of the survey will be used to gain a better understanding of the size and shape of the Kaukua PGE+Au mineralization along the basal contact of the Kaukua Mafic Intrusion. Relative changes in resistivity measured by the method will be useful to define variability in the thickness and grade of the platinum group minerals and associated copper and nickel sulphides. Modeling of such variations in three dimensions will assist to guide the next phase of diamond core drilling.  
The phase III core drilling program is scheduled to start in early July, as soon as the IP survey results have been processed and interpreted. For further information see also:
 http://nortecventures.com/media/nr_1213030412.pdf

 

  May 27th 2008






































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Phase II drilling at Kaukua results in best PGE+Au grades ever from the Koillismaa-Naranka Complex.

Monday 26th of May, all remaining PGE+Au assays were received from the 7 holes drilled during the phase II program at Kaukua.

All holes reported mineralization above 1g/t PGE+Au over widths ranging from 20 to 40m. With 13 out of a total of 14 holes drilled since October last year, the “hit rate” is remarkably high (+90%), particularly given the fact that the target zone is entirely covered by glacial till.

Apart from the good news regarding the continuity of mineralization in the area drilled so far, more importantly the precious metal grades continue to improve. This is well illustrated by hole number 13 of the Phase II drill campaign, that intersected a 4.5m thick interval grading 6,8 g/t PGE+Au and 0,6% Cu and minor nickel, within a wider 24m thick sequence averaging almost 3 g/t.  These grades are the best reported to date from all drilling carried out to date at the entire Koillismaa Mafic Layered Complex.

Nortec Ventures and Akkerman Exploration are encouraged by this latest set of geochemical results from the drill core samples, as it enhances the potential for further extensions of the mineralized zone down-dip and on strike of holes 13 and 14.

One key characteristic of the mineralization intersected to date is that the sulphide content is surprisingly low -generally less than 1%- even in the higher grade intervals. Hence the sulphides are highly enriched in PGE’s and only minor amounts of sulphide are needed to give combined platinum+palladium+gold grades above 1 g/t. 

The other notorious feature of the Kaukua area is that the underlying Archean basement rocks are affected by intense partial melting and magmatic brecciation, suggesting high-temperature and dynamic flow conditions at this point below the layered complex. It could mean that the Kaukua area may be proximal to or even part of a magmatic conduit/feeder zone through which the magma flowed into the complex. Such zones are known to be preferred areas for the accumulation of magmatic sulphide mineralization.

Further details on the geochemical results for all holes drilled to date can be found in the latest Nortec press release, which can be read via the following link:

http://nortecventures.com/media/nr_1211887651.pdf

 

  April 23th 2008

















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Platinum, palladium and gold grades continue to improve at the Kaukua project in Finland.

Initial laboratory results on samples from 2 of the 7 new holes drilled this month at the Kaukua project in north-central Finland are again better than those from the first drill campaign in 2007. Best grades obtained in hole Kau08-009 include a 6,5m interval with an average of
3,50 g/t Pd+Pt+Au
(equivalent to an in-situ value of 94 US$/t at today’s prices). Depth of intersection is less than 100m below the surface.
Copper and nickel results are pending.
The total thickness of the mineralization above 1g/t PGE+Au is similar compared to the earlier intersections and amounts to 25m in hole Kau08-008 and 30.2m in hole Kau08-009.
Management of the Nortec-Akkerman joint venture is very pleased with these results, as they are adding further open-pittable resources to those already outlined by drilling in 2007. Potential to add further tonnage and grade to the deposit remains high, specially down-dip and along strike to the south, west and southeast.
More details on this exiting discovery can be found on Nortec’s website under the following link:
http://nortecventures.com/media/nr_1208888458.pdf
  April 10th 2008











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Nortec Ventures withdraws from Koillismaa-Naranka Ni-Cu project.

Nortec Ventures Corp. has informed that it will withdraw from the Option Agreement signed with Akkerman Exploration B.V. in June 2006.
Since the start of the Agreement, Nortec and Akkerman have covered the Koillismaa-Naranka property with a helicopter-borne, deep-penetrating EM survey and followed up resulting anomalies and geological targets with deep reconnaissance drilling.
The 5 reconnaissance holes drilled down to a maximum depth of 671m failed to detect nickel-copper mineralization of sufficient grade and size.
The decision to end the Koillismaa-Naranka project will allow both partners to focus available resources on the newly discovered mineralization of platinum group minerals, with gold and copper-nickel byproducts at their Kaukua project, which was started in the summer of 2007.
 

  April 3th 2008










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Agreement signed with Champion Minerals Inc. on the Gullbridge VMS project, Newfoundland. 
Champion Minerals Inc. (CHM), a junior company listed on the Toronto Stock Exchange, and Copper Hill Resources Inc. (a partly owned subsidiary of Akkerman Exploration B.V.,) have signed a Letter of Agreement (LOI) on the  Gullbridge VMS property in Newfoundland.
The agreement allows CHM to earn a 51% share in the Gullbridge property over a 3-year period in exchange for the funding of exploration expenditures up to a total of 800,000 C$ and making certain payments to Copper Hill in cash and in shares.
Details on the agreement can be found in the corresponding press release issued by CHM.

http://www.championminerals.com/news/news.php
xnewsaction=fullnews&newsarch=042008&newsid=1

  March 6th 2008
















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Follow-up drilling of Kaukua PGE+Au started on Monday 3rd of March. 

Akkerman Exploration B.V., together with joint venture partner Nortec Ventures Corp. are pleased to announce that Phase II drilling at the Kaukua project started on Monday the 3rd of March. The main objective of this phase II program is to drill the down-dip extension of the mineralized horizon of palladium, platinum and gold mineralization discovered in by the joint venture in the fall of 2007. This drill program comprises 1250m to be drilled in 7 holes down-dip from the earlier higher-grade drill intersections. Drill hole locations are shown on the accompanying map of the Kaukua area (see Home page)

Drilling is being carried out by the drilling division of the Geological Survey of Finland and assaying by Labtium OY at their laboratory facilities in Rovaniemi.

Logging and sampling are done by Tuomo Karinen under a contract with the GTK, at the company's warehouse in the village of Taivalkoski.

 Further details can be found in the news releases by Nortec Ventures Corp., as follows:  http://nortecventures.com/media/nr_1204814849.pdf

 

  February 12th 2008































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Phase II drilling at  Kaukua PGE+Au project to start beginning of March

Following the intersection of palladium, platinum and gold over intervals up to 41m thickness at the company's Kaukua project in Finland, a second phase of drilling is scheduled to start on March the 3rd, 2008.

The phase II program comprises a total of 1250m to be drilled in 7 holes down-dip from the earlier higher-grade drill intersections. Drill hole locations are shown on the accompanying map of the Kaukua area (see Home page)

Since the previous press release, additional geochemical results have been received on Rhodium, Osmium, Iridium and Rubidium analyses on a series of check samples from holes Kau07-01 to Kau07-04.  No significant values were obtained, except for the sample from the high-grade stringer in hole Kau07-02, returning the following grades:

Rhodium - 97 ppb, Osmium - 32 ppb,
Iridium - 67 ppb and Rubidium - 44 ppb. 

At current metal prices these grades represent an in-situ value of  27 US$/t of ore in addition to the 1414 US$/t ore value represented by the palladium, platinum, gold , nickel and copper in the high-grade stringer of 8cm thick.

The in-situ value at today's market prices of the bulk grade ore zone with an average thickness of 30m is 70 US$/t .

With respect to the Kaukua mineral rights, Akkerman Exploration B.V. is pleased to announce that is has been granted the rights to two claim reservations which secures the rights to possible extensions of mineralization in an area of 1km around the Kaukua 1-3 exploration licenses.


Further details can be found in the news releases by Nortec Ventures, as follows: http://nortecventures.com/media/nr_1202826976.pdf

 

  January 9th 2008

























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More high grade drill results from the Kaukua Platinum-Palladium-Gold Property in Finland.
Results from the last 3 exploration holes drilled at the Kaukua project in Finland include more high-grade palladium, platinum and gold over intervals up to 41m thickness.
Results from the previously reported hole Kau07-04 were surpassed by those from the final hole Kau07-007, intersecting 41m with an average grade of 1.30 g/t of palladium (Pd)+platinum (Pt)+ gold (Au), including a higher grade interval of 11m at 2.38 g/t Pd+Pt+Au.
Mineralization generally consist of disseminated sulphides hosted by a pyroxenites and gabbronorites and occasionally by crosscutting sulphide veins. Just like hole Kau-07-002, Hole Kau07-007 intersected one of such veins of 0.09m thick vein with 15.4 g/tPd, 2.8g/tPt, 2.3%Ni and 1.3%Cu. Average copper and nickel contents of the disseminated mineralization ranges from 0.3-0.5% Cu+Ni. Sulphide content is very low, generally less than 1%.

The first phase of 7 reconnaissance drill holes have now outlined ore-grade mineralization over an area of 550m with an average thickness of 30m and an average bulk grade of 1.3g/t PGE minerals +gold and 0.25% Cu+Ni. The down-dip extend of the layer is at least 250m.
The inferred resource potential for this area is roughly 14 million tons. The average in- situ ore value per ton based on current metal prices is 65 US$. The above clearly illustrates that the first round of drilling by the Akkerman Exploration-Nortec Ventures joint venture has led to a significant discovery. Mineralization may extend further in depth and towards the west. These possibilities will be further investigated during the coming months by the next round of drilling.

Further details can be found in the news releases by Nortec Ventures, as follows: http://nortecventures.com/media/nr_1199889436.pdf

 

  2007   
  December 4th 2007









































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First exploration success of Akkerman Exploration at its Kaukua Platinum-Palladium-Gold Property in Finland.
The first 4  exploration holes drilled at the Kaukua project in Finland have intersected high palladium-platinum and gold values over intervals of 30-60m thickness.

The best result was found so far in hole Kau07-004, including 20m grading 2.06 g/t Pd+Pt+Au. Analyses for copper and nickel are pending, as well as geochemical results for another 3 holes drilled.

Mineralization consist of disseminated sulphides at the base of a large layered mafic complex. An 8cm thick vein of massive sulphides was found in Kau07-002 with a very high grade of 17g/t Pd+Pt+Au (see photo).

The joint venture partners Nortec Ventures Corp.  (NVT) and Akkerman Exploration B.V. are very pleased with these encouraging results of its first exploration drilling program at Kaukua. A follow-up drill program is being planned for early next year, subject to availability of a suitable drill rig.

Detailed analytical results can be found in the news releases by Nortec Ventures, as follows: http://nortecventures.com/media/nr_1196805237.pdf
 

Coarse sulphide (chalcopyrite, pyrrhotite and pentlandite) in core sample from Kau07-02, depth 119m; Containing 12 gram per ton palladium and 5 gram per ton platinum.

 

  November 14th  2007





























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First phase drilling completed at the Kaukua and Koillismaa-Naranka projects.
The 7-hole diamond drill program for the Kaukua project, announced in early October has been completed in one month. A total of 1025m was drilled in 7 holes with lengths of individual holes ranging between 110 and 170m depth.

All holes successfully intersected the targeted basal contact and encountered disseminated sulphide mineralization of variable grade and thickness.  The 7 holes have already been logged and sampled at our office facilities in Taivalkoski by geologist Tuomo Karinen, hired through the Geological Survey of Finland (GTK). Geochemical analyses is being carried out by Labtium Oy in Rovaniemi.

Drilling has been undertaken by the drilling department of the GTK with excellent progress and good core recoveries.

Drilling of the other program of 5 diamond drill holes by Suomen Malmi OY,  at the nearby Koillismaa-Naranka copper-nickel project, has also been completed. This larger program with deeper holes has been technically more challenging and took 5 months to complete.

At Koillismaa 3 holes were drilled for a total of 1571m and at Naranka 2 holes, totaling 801m. Two of these holes were drilled to depths of 600 and 670m which is deeper than any previous drilling in the entire Koillismaa-Naranka complex.

Disseminated copper and nickel sulphides were intersected in hole K07-01 and K07-02 drilled in the Musta area of the Koillismaa layered complex over widths of 15 and 9 m respectively.  Both holes failed to intersect the targeted massive sulphide mineralization with high-grade copper and nickel. Maximum grades encountered are 0.43%Cu, 0.41%Ni and 1.1 g/t PGE+Au over a 1m interval at an inclined depth of 195m in hole K07-02.
For further info see:
 http://www.nortecventures.com/viewnews.php?id=60

 
For detailed sample results: click here  (PDF Format)

  October 2th 2007
















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First phase of exploration drilling started on the Kaukua Platinum-Palladium-Gold Property.

Nortec Ventures Corp. (NVT) and Akkerman Exploration recently commenced a 7 hole, 1000m drill program to test the prospective mineral horizon at the Kaukua Platinum-Palladium-Gold property in Lapland, northern Finland.
Drilling is being carried out by the drilling department of the Geological Survey of Finland

The planned 7 drill holes are aimed too outline the near-surface part of the basal contact of the Koillismaa Mafic Layered Intrusion in the Kaukua area. This basal contact hosts precious metals as well as copper and nickel sulphides, found during earlier exploration carried out by the Geological Survey of Finland.
The known mineralization occurs at the basal contact over true widths up to 40mts averaging 1.24 g/t PGE+Au and 0.3% Cu+Ni. Higher grade smaller intervals assay up to 4.7 g/tPGE and 0.5% Cu+Ni.
The mineralization is open in all directions.

Further information can be found on the NVT website: www.nortecventures.com

 

  July 30th  2007



















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MOU signed with Nortec Ventures on the  Kaukua Platinum-Palladium-Gold Property.

On July 26th  2007,  Akkerman Exploration B.V. and Nortec Ventures Corp. signed a Memorandum of Understanding on the Kaukua property. The MOU defines the general terms and conditions by which Nortec can earn an undivided 70% interest in the Kaukua Platiunum, Palladium, Gold Property and further establishes that the parties will prepare and sign an Option Agreement before the end of September 2007.

TheKaukua  property involves three exploration claims (Kaukua 1-3), in an area with know platinum, palladium and gold mineralization, intersected in 3 holes drilled by the  Geological Survey of Finland in 1999 and 2004. This initial reconnaissance drilling has defined PGE + gold mineralization over a strike length of  450m down to a maximum vertical depth of 150m. The precious metals mineralization, which is accompanied by copper and nickel sulphides, remains open in all directions and will be the subject of an exploration program to be conducted by Nortec Ventures and Akkerman Exploration over the next 12 months. The total budget for this program will amount to a minimum or 150,000 Euro.

Further information can be found on the NVT website: www.nortecventures.com

 

  July 5th  2007 















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New gold-platinum project generated in Finland, named the Kaukua Project

Akkerman Exploration B.V. has generated a third exploration project in the Koillismaa layered intrusion in north central Finland. The project is situated in the Kaukua block and covers the prospective lower contact where previous work by the Geological Survey of Finland has encountered disseminated sulphide mineralization with relatively high gold and platinum group minerals over thicknesses around 30m with average grades around 1 ppm Pd+Pt+Au, together with 0.2-0.3% Cu+Ni.

The two highest grade intervals found in drill core from hole 405 contain the following grades at down the hole depths of 119.30 and 165.76m respectively :

width m Pd ppm Pt ppm Au ppm Ni % Cu %
0.37 3.53 0.79 0.39 0.21 0.31
0.91 2.90 0.87 0.21 0.73 0.58
  July 1st  2007











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Scoping study initiated on the Mustavaara iron-vanadium-titanium project

The Akkerman Exploration-Adriana Resources joint venture has commissioned a scoping study for the Mustavaara iron-vanadium-titanium project in Finland. A team of 5 senior engineers from Behre Dolbear International Ltd. started with a kick-off meeting in Helsinki on July the 2nd .  The study team is led by the former President of Iron Ore of Canada and includes a former senior executive of Glencore with extensive vanadium experience as well as one of the world's leading experts in vanadium processing (see also picture on the home page).

The study will result in recommendations on scale of production, mining and  processing options and will provide conceptual capital and operating cost estimates with cash-flow analyses and viability conclusion.

 

  June 19, 2007



















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First drill hole completed on the Koillismaa-Naranka project in Finland

Nortec Ventures Corp., joint venture partner of Akkerman Exploration B.V., announces the completion of drill hole K07-02 on the Musta Target. The hole was drilled south at an angle of -65º to a depth of 352.5 metres and was terminated in the Archean basement rocks of gneissic composition. The hole penetrated 240 metres of layered mafic to ultramafic rocks. 100 samples of one metre length are being prepared and sent to the Geological Survey of Finland (GTK) geochemical laboratory located in Rovaniemi, Northern Finland. Results will be released on receipt. The turnaround time for analyses is expected to be three weeks.


This first hole is part of a 2500m drill program to test 5 targets at the Koillismaa-Naranka nickel-copper-PGE project.
At present the drill is being mobilized to the drill site K07-03. Hole K07-03 will be drilled towards the south at an angle of -55º, and it is designed to test the Pyhitys target at depth. The Pyhitys target was delineated by geological mapping and geophysical surveys by GTK and geochemical (fertility analyses) by Pertti Lamberg Outotec Research Oy, Finland. The drill hole is estimated to be 500 to 600 metres long. Details with regards to this drill hole will be released in a timely fashion.
Hole K07-01 designed to test the northwestern portion of the Musta target will subsequently be drilled on completion of hole K07-03.
 

  June 13, 2007












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Copper Hill receives $100,000 grant from the Government of Newfoundland and Labrador for the Powderhorn Project

Copper Hill Resources Inc. ("Copper Hill"), a partially owned subsidiary of Akkerman Exploration B.V. , has been awarded a grant in the amount of 100,000 Canadian Dollars from the Government of Newfoundland and Labrador, via the Minister of Natural Resources, as part of the Junior Exploration Assistance program. The grant will be used to fund ongoing exploration drilling at the Powderhorn VMS project, which is being carried out together with joint venture partner Champion Minerals Inc.

Copper Hill wishes to acknowledge and thank the Department of Natural Resources for this valuable assistance to its exploration efforts.

"Earl R. Benson" President, Copper Hill Resources Inc.
 
  May 30th  2007









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First round of deep exploration drilling started at the Koillismaa-Naranka project, northeastern Finland

On the 29th of May a drill rig started drilling of the first of 5 deep scout drillholes, in search of magmatic nickel-copper sulphides in the deeper parts of the Koillismaa Layered Mafic Complex in northeastern Finland.
Drilling is being carried out by Suomen Malmi Oy (Smoy), a leading company in geological contracting in the Nordic countries established in 1935.
The 5 holes planned are targeting Deep EM anomalies detected and modeled by SkyTEM from Denmark during a helicopter survey flown in September 2006 on behalf of the exploration joint venture between Nortec Ventures and Akkerman Exploration B.V. Further details can be found on the Nortec website under: http://www.nortecventures.com/viewnews.php?id=51
 
  May 30th  2007









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Start of Scoping Study on the Mustavaara iron-vandium-titanium project

Joint Venture partners Adriana Resources Inc and Akkerman Exploration BV have signed an agreement with Behre Dolbear International Ltd. to carry out a scoping study for the Mustavaara iron-vanadium-titanium project in northeastern Finland.
The principal aim of the study is to define the scope for a new mining and processing operation at the Mustavaara magnetite gabbro deposit. In addition the study will provide preliminary operating and capital cost estimates to allow initial economic evaluations of process options as the basis for a decision to proceed with a (pre-)feasibility study for the project.
For further details pls. visit Ardriana's website at:
http://www.adrianaresources.com/s/NewsReleases.aspReportID=189222
 
  May 10th  2007

















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Drill testing of the Koillismaa-Naranka EM anomalies too
start in May.

Nortec Ventures announced today that drilling of a series of EM anomalies at the Koillismaa-Naranka nickel-copper-PGE project is scheduled to start in May, subject to obtaining the necessary permits.

Drill targets comprise a series of deep EM anomalies detected during the SkyTEM helicopter survey conducted in September of 2006. Three of the targets that will be drill tested are located in the Koillismaa Mafic Layered Complex and two in the Naranka Ultramafic Dike. Modeled depths to the top of these targets ranges from 100-200m. Example level plans and cross sections are shown on the home page of the Akkerman Exploration website.

A minimum of 4 holes will be drilled with planned depths of 500-600m.

Further information on the specific targets to be drilled, can be found in the press release issued by Nortec Ventures:

 http://www.nortecventures.com/viewnews.php?id=48

 

  February 6th 2007














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Strong conductors discovered at Koillismaa-Naranka

Geophysical modelling and interpretation of the SkyTEM survey data has resulted in the discovery of several strong conductors. Several of these EM anomalies coincide with the location and depth where nickel-copper sulphides are expected on the basis of geology and have not been tested by drilling in the past.

Akkerman Exploration B.V and joint venture partner Nortec Ventures are very encouraged by these results. Specific targets have been defined at Musta and Pyhitys in the Portivaara block and in the southeastern part of Narankavaara. These targets will be tested by a campaign of diamond drillholes to be carried out in the spring-summer of this year, once the necessary permits are in place.

A full copy of the corresponding news release issued by Nortec Ventures can be found on the following website:

www.nortecventures.com/viewnews.php?id=43

 

  January 29th 2007



















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Mustavaara concentrate grades confirmed by initial metallurgical tests

A first round of metallurgical tests on a 2,878 kg bulk ore sample from the Mustavaara mine, has confirmed that a good quality magnetite concentrate can be obtained by a conventional process of crushing, milling and magnetic seperation. Results obtained at laboratory and pilot-plant scale, match the ones obtained in the past during the operation of the Mustavaara processing plant.

Concentrate grades are: 62% Fe, 7.2% TiO2 and 0.9%V. The vanadium content in the concentrate is equivalent to a 1.61% V2O5, which is high by industry standards and is believed to be one of the key competitive strengths of the Mustavaara deposit.

The tests were performed at the laboratory facilities of the GSF of Finland at Outokumpu town, under the supervision of Outokumpu Technology Oyj.

About half of the 400kg concentrate produced will be used for the next phase of smelting tests, which have already started .  

For further details see:

www.adrianaresources.com

 

  January 21th 2007








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Preliminary results Deep EM survey Koillismaa

The SkyTEM, Deep EM survey completed at Koillismma-Naranka has detected several strong conductors, including a cluster of moderately  intense anomalies not known from previous surveys in the area. Initial data processing and interpretation by Condor Consulting from Colorado suggest that the shapes of some of the anomalies are typical of vertical conductive plates. Layered Inversions are being carried out to estimate the depth of the conductors. Final results of geophysical modeling and interpretation are expected to be available by early February. At that stage a decision will be taken which anomalies warrant testing by diamond drilling.

  2006   
  October 19th 2006










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Helicopter Deep EM survey completed at Koillismaa-Naranka

The helicopter borne, Deep EM survey, by SkyTEM of Denmark has been completed. In total some 1500 line km was flown over two areas, to target massive nickel-copper sulphide in the root zones of the Koillismaa-Naranka igneous complex.

Data processing and modeling is being carried out by Condor Consulting. Preliminary results are expected within the next few weeks.

Meanwhile, the Finnish Ministry of Trade and Industry has granted 19 of the 23 Exploration Claims applied for by Akkerman Exploration B.V. Of these 9 are located over the central part of the Naranka dike and 10 over the posible root zone of the Koillismaa Mafic Layered Complex (Portivaara Block). 

 

  October 10th  2006












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Independent study confirms 30Mt measured resource at  Mustavaara.

An independent study of the Mustavaara deposit by Watts Griffis and McOuat Ltd, confirms that remaining open-pittable resources in the measured category amount to 30Mt million tonnes at an average grade of 16.8% magnetite and 0.91% vanadium.

This estimate does not yet  include ore extensions in depth and along strike intersected during previous exploration drilling.

The next phase of work by Adriana Resources consists of metallurgical testwork to define a viable process for the production of vanadium as well as iron and titanium by-products.

For further details see:   http://www.adrianaresources.com/s/NewsReleases

 

  September 7th 2006













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Airborne EM survey commenced at the Koillismaa-Naranka Ni-Cu-PGE project in Finland.

The survey comprises a deep penetrating, Time Domain EM helicopter survey, contracted with SkyTEM Aps. from Denmark.

The principle aim of the airborne EM survey is to screen the unexplored deeper parts of the Koillismaa and Naranka intrusive complex for conductors related to sulphide mineralization and to generate targets for diamond drilling.

In total,  1200 line kilometers will be flown in 2 blocks over the roots of the intrusive complex complex, inferred from geological, magnetic and gravity data. Spacing between flight lines will be 100m. The survey is scheduled to be completed in 8 to10 days.

For a full version of the related press release by partner Nortec, see : www.nortecventures.com

  July 13th 2006



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Copper Hill Resources Inc. starts joint venture on its Powderhorn Lake property with Champion Natural Health.Com Inc.

Copper Hill Resources Inc. which Akkerman Exploration  holds a 36% share, has signed an Option Agreement with Champion Metals Inc. on the Powderhorn Lake property with potential for VMS-style Cu-Pb-Zn-Au-Ag ore.

 

  July10th  2006 










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Akkerman Exploration B.V.enters option agreement with  Adriana Resources Inc. on the Mustavaara Iron-Titanium-Vanadium mine.

Akkerman Exploration is pleased to announce the signature of a 5-year option agreement with TSX listed Adriana Resources Inc. on the Mustavaara iron-titanium-vanadium mine, located within the Mustavaara claimreservations 1,2 and 3, NE Finland.

For further information and full version of the corresponding  news release issued today by Adriana see:

www.adrianaresources.com

 

  June23rd  2006 









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Joint venture signed with Nortec Ventures Corp. on the Koillismaa-Naranka project.

Following the signature of an MOU on the 5th of May, Akkerman Exploration B.V. and Nortec Ventures Corp. entered into a more difinitive agreement signed on the 23rd of June, whereby both parties will jointly search for Ni-Cu-PGE mineralization in the large Koillismaa-Naranka mafic intrusive complex. The plan is to start the exploration program with a deep penetrating, airborne survey over the company's landholdings, to generate drilltargets.

For a full version of the related press release see: www.nortecventures.com

 

  May 8th  2006 





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MOU signed with Nortec Ventures Corp. on Koillismaa - Naranka properties.

Akkerman Exploration BV and Nortec Ventures Corp, have signed a MOU on the 5th of May, whereby Nortec can earn a 60% share in the Koillismaa-Naranka Ni-Cu-PGE project in Finland.

For further details see: www.nortecventures.com

 

  April 4th  2006




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CHRI acquires mineral rights over Gullbridge Mine.

Copper Hill Resources has staked 200 new claims (50km2) over the Gullbridge mine and surrounding areas with high exploration potential for VMS style mineralization. Former production from Gullbridge was 3.5Mt grading 1.1%Cu  from a stockwork veining system. CHRI plans to explore this belt, 45km on strike of the renowned Buchans mine, for massive sulphide deposits.

  

March 29th 2006


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Shareholding in Copper Hill Resources Inc. increased

AEbv. has inrceased its shareholding in CHRI to 36%, through the purchase of a second tranche of shares, pursuant to the option agreement signed with Viking Gold Corp. in September 2005.  

 

  2005   
  September 1st 2005











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Akkerman Exploration buys part of Copper Hill Resources Inc. with 2 exploration projects in Newfoundland, Canada.

Akkerman Exploration B.V. has acquired a substantial shareholding in Copper Hill Resources Inc. from Viking Gold Corp. in Canada. CHRI fully owns two exploration projects in Newfoundland; the Powderhorn VMS and Turks-Gut red-bed copper projects.

The acquisition was made via a purchase and sales agreement, including an option to purchase an second tranche of shares within the next 12 months and a third tranche over a period of 10 years.

J.H. Akkerman has been appointed director and VP Exploration of the company. The two other directors are P. Georghiou and E. Benson.

 

  July 27th 2005





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Additonal ground covered at Koillismaa, including the  Mustavaara vanadium mine

AEbv continues to expand its position at the Koillismaa layered complex, with 3 new Claim Reservations (Mustavaara 1-3). The claims cover part of the prospective basal contact as well as the main part of the magnetite-gabbro horizon which carries important vanadium resources, mined between 1975 and 1985 by Rautaruukki Oy.

 

 

March 17th 2005







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Additional ground covered at Naranka and new claims granted over Koillismaa

AEbv. has managed to secure exploration rights over the entire Narankavaara Complex, following the withdrawal of Polar Mining in December 2004. The granting of  4 new Claim Reservations (Naranka 10-14) over the NW portion of the intrusion have been approved by the Ministry of Trade and Industry.

In addition AEbv acquired 4 Claim Reservations (Kostonjarvi 1-4) over part of the Koillismaa mafic layered complex with known nickel-copper sulphide mineralization along the basal contact.

 

  February 9th 2005







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Exclusive exploration rights granted over the Naranka ultramafic complex in NE Finland.

The Finnish Ministry of Trade and Industry has approved the granting of 9 claim reservations over the Narankavaara intrusive complex in NE Finland. The reservations will give AEbv the possibility to carry out reconnaissance  activities in the area for a period of 1 year.

The 9 Claim reservations, referred to as Naranka 1-9 cover a surface area of  77.1 km2.

 

2004
  May 5th 2004


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Letter of Intend signed with Cuban company CCN  on a Chromite project in central Cuba.

Akkerman Exploration B.V. together with Commercial Carribean Nickel, a 100% Cuban State Company, have signed a letter of intend to jointly study the possibilities to reactivate chromite mining in the Camaguey Province in Cuba.
 

  January 1st 2004





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H. Altozano, senior attorney, becomes partner.

Mr. Hermenegido Altozano, senior attorney of the Spanish lawfirm Lupicinio Eversheds, has purchased 5% of the 360 outstanding shares, through a purchase agreement signed with J.H. Akkerman Holding.

Mr. Altozano will take up the role of legal advisor in the company, bringing extensive experience in international business law to the company.   
 

  2003   
  March 30th 2003






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MOU signed on porphyry copper-gold project in Iran.

A memorandum of understanding has been signed with Zarmehr Gold Company, to jointly investigate the Tanurcheh project located in the Khorasan province, NE Iran.

The project comprises a virgin hydrothermal alteration system believed to be associated with Tertiary porphyry intrusions and offers potential for porphyry copper-gold mineralization in depth.

 

  2002   
  July 3rd 2002






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Akkerman Exploration B.V.  incorporated.

Incorporation took place by decree at the public notary of Mr. A.M. Zwart in Leidschendam-Voorburg, the Netherlands.

A total of 360 ordinary shares were issued to and paid for by J.H. Akkerman Holding B.V as the single shareholder of the company.

J.H.Akkerman has been assigned as Managing Director of the company.   
 


 
 
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