Platinum group element resources assessed in Finland

Significant metal resources are waiting undiscovered in Finland’s bedrock, according to the Geological Survey of Finland.

The Geological Survey of Finland (GTK) has evaluated the platinum group element resources in the Finnish bedrock to a depth of one kilometre. Platinum group elements include metals such as platinum and palladium.

Most of the potential, but as yet undiscovered, deposits of platinum group elements in Finland are estimated to be located in layered intrusions about 2,450 million years old in northern Finland. Forty-three areas that could contain undiscovered deposits of platinum group elements were established in Finland.

The areas are expected to contain approximately 50 undiscovered deposits, and their combined quantity of metals calculated at a probability of 50% are at least 5,600 tonnes of platinum, 12,000 tonnes of palladium, 430 tonnes of gold, 4,200,000 tonnes of nickel and 5,700,000 tonnes of copper.

Most of Finland’s known deposits of platinum group elements are located in the northern part of the country in a belt crossing east from Tornio to Näränkävaara. Another belt containing layered intrusions runs from northwest Finland (referred to as the ‘arm of Finland’) southeast through Lapland via Akanvaara and continues into Russia.

There are six known deposits of platinum group elements located in layered intrusions that are 2,450 million years old, on which a reliable ore estimate has been published, and over 30 prospecting sites established. In addition, the large Kevitsa polymetallic deposit contains a considerable quantity of platinum and palladium. The total known platinum group element resources in Finland are around 90 tonnes of platinum and 240 tonnes of palladium.

In the light of these figures, the share of currently known deposits of Finland’s potential overall platinum group element resources is at the level of 2%. The assessment does not, however, take a view on the amount of undiscovered resources that will possibly be discovered.

The assessment was carried out using a three-part assessment method developed by the U.S. Geological Survey. Areas in which there could be certain types of ore deposits are delineated based on deposit models, the numbers of potentially undiscovered deposits in the areas are estimated, and the quantities of metals contained in the deposits are calculated.

Source: Geological Survey of Finland