Medaro Mining (CSE:MEDA) plans to combine surface sampling with drone magnetic data to finalise drill collar locations at its Bastnäs Project in central Sweden, after identifying two target concepts for follow-up work.
The company’s latest release provides geological context for its 2026 surface sampling program, first reported on 10 September, and contains no new assay results.
Of 218 samples collected, 56 returned more than 1% copper (Cu), 10 exceeded 10% Cu, peaking at 23.7% Cu, and seven of those came from waste dumps around the historic Persgruvan-Bossan underground workings in Area D.
An additional 15 samples returned more than 2 grams per tonne gold (Au), including two above 10g/t Au.
At Stalklockan in Area C, sample BS159 returned 16.5g/t Au, 3.82% Cu, and 11.68% total rare earth oxide (TREO) from skarn-sulphide waste rock.
Miners worked Persgruvan-Bossan for magnetite from 1880 until 1967. Between 1979 and 1982, an exploration drift extended more than 2km northwest from the Backegruvan workings. Those tunnels are now flooded.
Medaro stresses the samples are selective and their underground source is unknown, so the results do not establish grade, width, or continuity. It describes the clustering of ‘high-grade’ copper as a clear area for geological and geophysical follow-up.
CEO Mark Carruthers says the results highlight two concepts for further work.
“Persgruvan-Bossan contains a strong concentration of the highest-grade copper samples, while Stalklockan returned our strongest gold result together with copper and rare-earth mineralisation,” Carruthers states.
The company will also focus on other historic workings with elevated copper or gold, integrating the results with the drone survey and historical underground data before locating drill holes.
The Bastnäs Project comprises two permits held on trust by McKnight Resources and one held by Explora Mineral. Pending regulatory approvals, the permits are intended to transfer 100% to Medaro.
ALS Scandinavia Laboratories assayed the samples. Consultant Amanda Scott, a qualified person under National Instrument 43-101, approved the technical information.
Medaro Mining is a Canadian explorer advancing rare earths, polymetallics, and lithium projects across Sweden and Canada.
Write to JC Villarba at Mining.com.au
Images: Medaro Mining
