Ragnar Metals (ASX:RAG) has released the results of its maiden rock sampling program that include two high-priority copper prospects, Domstugan and Tintorp, within the Olserum Project in Southern Sweden.
The company, which has expanded its tenure at Olserum by 36km2, detailed results including 0.8% copper, 1.2 grams per tonne gold, 48g/t silver and 2.2% copper, 0.3g/t gold, and 0.07% molybdenum.
Ragnar, which has a market capitalisation of $9 million, says these results support its decision to obtain additional tenure in the region.
Executive Director Eddie King says with this strategic expansion, the company is positioned at the heart of what could evolve into a new IOCG district in Southern Sweden.
“The decision to secure additional ground in Sweden was driven by the compelling gold and copper indications emerging from our recent work,” King says.
Ragnar’s follow-up work at the Domstugan and Tintorp prospects is focused on copper-gold mineralisation associated with circular magnetic features typical of IOCG systems.
A detailed geological mapping will be undertaken to better define structural controls and alteration zoning at both prospects. Geophysical survey options will also be evaluated to assist in subsurface target delineation.
Upon completion, additional untested magnetic anomalies will be assessed across the broader Gladhammar-Olserum corridor for IOCG potential.
Ragnar will then advance drill target definition at the prospective zones based on combined field, geochemical, and geophysical data. The company will continue to compile regional data across its 159km2 landholding.
Ragnar Metals is a diversified mineral explorer focused on its portfolio of projects located in Sweden.
Write to Aaliyah Rogan at Mining.com.au
Images: Ragnar Metals
