Bayrock Resources Expands Mineral Lease Area for Vuostok Nickel-Copper Project in Northern Sweden
Bayrock Resources, backed by QX Resources, has announced an expansion of the mineral lease area for its promising Vuostok nickel-copper project located in Northern Sweden. QX Resources, led by Steve Promnitz, acquired a 39% stake in Bayrock Resources, an unlisted Australian company with a portfolio of nickel-copper-cobalt projects in Sweden, in July.
The Vuostok project is situated approximately 60km northwest of Lainejaur, presenting a potential joint development opportunity as part of a broader district play. The addition of the Nr 102 lease has expanded the total mineral lease area at Vuostok by 33%. QX Resources notes that this expansion could place Vuostok within potential trucking distance to Lainejaur, benefiting potential stand-alone nickel-copper-cobalt operations or providing additional ore feed for a potential Lainejaur development.
The region boasts a well-established all-weather road network and supporting infrastructure, making ore material transportation for processing a routine aspect of operations in Northern Sweden.
Additionally, significant nickel-copper assay results have been obtained from boulders within the newly expanded Vuostok lease and from drill results near the surface at Vuostok. These results reinforce Bayrock's decision to expand the prospect and suggest the emergence of a district-scale operation, given the proximity of Bayrock's Lainejaur and Vuostok Projects in a mining-friendly region of Sweden. Further updates are expected as Bayrock continues its exploration efforts, including the Notträsk Project, one of Bayrock's six 100% owned nickel-copper projects.
The recently released assay results highlight substantial widths of nickel-copper mineralization from eight drill holes at the Storbodsund Prospect within Vuostok, with promising results. Those indicate the presence of near-surface massive nickel-copper sulphides, ranging from 0.3-6m in thickness, located less than 18m from the surface and beneath a thin layer of glacial sediments, according to QX Resources.
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