Ragnar Metals (ASX:RAG) is planning to conduct further work to assess the uranium potential across its newly acquired Flugen, Viken East, and Viken South projects in Sweden, off the back of conducting recent fieldwork and a historical review.
At Flugen, the company intends to focus on additional sampling across several high-radiometric uranium anomalies. The program will assess the potential of the remaining underexplored areas of the tenure, which may contain sediment-hosted uranium mineralisation.
Meanwhile, at the Viken East and Viken South projects, further work will comprise a detailed compilation of previous drilling data in the area.
Ragnar, which has a market capitalisation of $9.95 million, says this includes the construction of an uninterrupted 3D model to enhance target identification.
Ahead of these upcoming activities, additional sampling has resumed at both Viken projects. The company is exploring the use of electrical techniques to map the uranium-rich carbonaceous shales, which could help refine its exploration approach.
This news comes after a maiden reconnaissance rock sampling program was undertaken at all three projects.
Ragnar reports rock assays at Flugen recorded up to 1,185 parts per million (ppm) triuranium octoxide (U3O8), while petrographic work also confirmed the presence of uraninite and other uranium minerals hosted in metasedimentary rock.
Meanwhile, at Viken East and Viken South, rock assays confirmed outcropping vanadium-uranium mineralisation up to 0.56% vanadium oxide and 48ppm U3O8 within the known alum shale host rock at the nearby Viken deposit.
Executive Director Eddie King says the recent fieldwork and data review exceeded expectations, especially given Sweden’s changing sentiment toward uranium mining.
“Our initial exploration work at Flugen has highlighted high-grade uranium mineralisation, justifying further work,” King says.
“The Viken South and Viken East projects are strategically located next to some of Sweden’s largest uranium-vanadium deposits. Previous drilling and rock sampling have provided encouraging results, with potentially elevated uranium-rich shale mineralisation at depth or along strike under cover.”
During October 2024, Mining.com.au outlined Ragnar’s commitment to exploring Sweden, which has a vibrant mining sector that dates back to the Middle Ages and is consistently ranked in the top 10 of the Fraser Institute’s Annual Survey of Mining Investment Attractiveness.
Ragnar says these new projects mark a “significant” expansion to its exploration footprint in Sweden and the initial results and historical data underscore the potential for extensive uranium and vanadium mineralisation.
The Flugen Project covers a 39km2 area in Southern Sweden, while both Viken East and Viken South cover 62km2 in Central Sweden.
Write to Aaliyah Rogan at Mining.com.au
Images: Ragnar Metals
