03.05.2011

Second promising gold deposit discovered in Kittilä in northern Finland

Test samples have contained up to 28g of gold per ton.

A highly promising gold deposit has been discovered in Petäjäselkä near Kittilä in Finnish Lapland during test drilling by the Geological Survey of Finland (GTK). The deposit is about 20km long and 5km wide, and is linked to the gold zone stretching from Kittilä’s Suurikuusikko to Sodankylä’s Pahtavaara.

Some of the test samples have contained as much as 28g of gold per ton, according to Risto Pietilä, director of the GTK unit in Rovaniemi. The usual gold content in the mines in Lapland is about 4g per ton. GTK will present its report to Finland’s Ministry of Employment and the Economy in June 2011, after which the ministry will organise a competitive tender to select who will get the rights to prospect the newly found deposit.

Finland currently has five gold mines but GTK believes that their number will increase in the future as about 200 gold deposits have already been test drilled around the country. Lapland has the most promising deposits and has experienced several gold rushes since the 19th century. With the price of gold at its highest for 50 years, the new discovery is certain to attract interest from international mining companies.

Kittilä already has one operating gold mine owned by the Canadian mining company Agnico-Eagle. Last year Agnico-Eagle extracted and enriched about 5000kg of gold from its Kittilä mine, which is the largest mine in the Nordic countries.


Source: Helsingin Sanomat