Vancouver, British Columbia–(Newsfile Corp. – February 22, 2018) – Sienna Resources (TSXV: SIE) (FSE: A1XCQ0) (OTCPink: SNNAF) has started drilling on its Slättberg Cobalt-Nickel-Copper Project in Sweden. The company recently significantly increased its land holdings at this project, located 25 kilometres northwest of Falun, Sweden, which now consists of 3 exploration licenses covering 12,733 acres and at least 16 historic mines.
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The new land acquisition included the historic Mårtanberg copper mine, which was operated in the late 1700’s and early 1800’s, and is located in an area known for its copper-rich skarn-style mineralization, with underground workings extended to depths of 80 to 100 metres. Sienna plans to bring modern techniques and views to this added acreage, which to date has experienced little to no modern exploration.
This maiden drill program will consist of 5 to 7 prioritized drill holes of 125 to 200 meters in length. The first holes will target a zone of massive sulfide mineralization intercepted in historic drilling (1970-era) near the Helenegruvan Mine. The first hole, targeting a shallow zone of mineralization intersected in previous drill holes, will be assayed for a wider range of elements than the historic drill holes, including gold and PGE. Other holes will test down dip extensions of the mineralization that were not tested by the shallow historic drill holes.
The second group of drill targets will focus on a strong magnetic anomaly identified by 2018 ground magnetic surveys in the vicinity of the Myrgruvans Mine. This robust magnetic anomaly, positioned to the east of the mine workings, has not been tested by historic drilling. Other drill holes will target the western end of the trend of mine workings, where the most mining activity occurred, with the mineralization remaining open at depth.
Jason Gigliotti, President, stated: “We are very pleased to be commencing our first major drill program in many years. Our shareholders have been patient and we feel this project has great potential and we are looking forward to what the next few months will return. This phase of drilling will provide a strong start to build on the historic data. We are at the early stages of this project and look forward to bringing this project forward with modern approaches and views at a time when the battery metals sector is gaining significant traction globally.”
On January 30, 2018 the company announced that initial results had been received from the ongoing magnetic survey work on the Slättberg Cobalt-Nickel-Copper Project in Sweden. High resolution magnetic surveys in the area of historic nickel-copper-cobalt mines have defined multiple strong magnetic responses along the trends of mineralization, which are interpreted to represent steeply plunging bodies of massive sulfide mineralization that is rich in pyrrhotite.
Along with the historic drill data, this new magnetic data is being used to define multiple high priority drill targets for the upcoming drill program. Slättberg’s massive sulfide mineralization is known to be strongly magnetic, owing to its high concentrations of pyrrhotite, a magnetic ferrous sulfide mineral associated with the Co-Ni-Cu mineralization.
Cobalt prices have more than doubled in the last year, and are currently trading at US$36.06, near 10 year highs.
With Europe rapidly moving towards electrification, Sweden has a unique position to establish large-scale battery production to support this transition with its clean and affordable energy, proximity to raw materials, and a strong industrial tradition. There are now more than 20 mega battery factories currently being planned or constructed globally, creating a massive demand for battery metals such as cobalt, nickel and lithium.
Northvolt recently announced plans to build Europe’s biggest electric car battery factory in its home country, Sweden.
For more information, please visit the company’s website at www.siennaresources.com, contact Jason Gigliotti, President, at 604-646-6900 or email info@siennaresources.com.
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