Viscaria Copper Project

The Viscaria Project is located in the Kiruna region in the north of Sweden, which is regarded as a world-class mining province. The mining area is geographically close to significant infrastructure such as the E10 highway, the Luleå-Kiruna-Narvik railway, and the established hydro-power grid. This means the mine has a strategically optimal location close to logistics and energy supply.

Kiruna is home to the world’s largest underground iron ore mine called Kirunavaara, operated by LKAB (owned by the Swedish Government). Kirunavaara has been in production since 1899 and has already produced more than a billion tons of magnetite.
From a historical point of view, the Viscaria Copper Project has produced 12.5 Mton of ore at 2.3% copper concentration. According to the Swedish Minerals Act, it has an excellent potential to become a producing mine again by Copperstone Viscaria AB, the owner of three exploitation concessions. In addition, Copperstone Viscaria AB owns exploration permits over a 17 km regional area adjacent to the future mine site. The Viscaria project contains approx. 363,000 core drill meters, of which Copperstone has drilled more than 20,000 meters. The Viscaria Copper Project is currently in the feasibility stage. An environmental permit application was handed to the Swedish Land and Environment Court in March 2022. If/when the permit has been awardedopper, copper can be extracted. The construction of the processing plant will then commence. The production is expected to average about 30,000 tons of copper in concentrate per year.

Mineral Resources

The Viscaria Project comprises three deposits: A Zone, B Zone, and D Zone containing 74 Mton of copper-bearing rock*. Copperstone is also investigating the opportunity to extract and recycle minerals from the existing waste rock deposit (4-5 Mton) and old tailings (+10 Mton).

A Zone (21.6 Mton copper-bearing rock*)

The A Zone is a copper-rich deposit with minor zinc and gold concentrations mined by LKAB and Outokumpu OYJ between 1983 and 1997. Development primarily consisted of underground mining utilizing sub-level stoping, among other methods. The A Zone mineralisation has been interpreted as a Volcanogenic Massive Sulphide (VMS) style deposit.

B Zone (19.7 Mton copper-bearing rock*)

B Zone is interpreted to be a second lens of the A Zone mineralisation. Some minor material was mined from one level of B Zone during the Outokumpu period with access via a development drive from the A Zone underground development.

D zone (32.8 Mton copper-bearing rock*)

D Zone is a copper and iron deposit and, although directly adjacent to A Zone and B Zone, has a different mineralisation style. It was previously interpreted as an IOCG style deposit or a VMS deposit. D Zone has not been mined and constitutes a significant part of Copperstone´s life-of-mine plan at Viscaria, containing higher-than-average copper grades and is hosted in magnetite that could become a valuable by-product.

* For more detailed information, please refer to About Copperstone / Mineral Resources.