ASX Announcement / Media Release
28 April 2010
Kiruna Iron Project
Ground Based Gravity Survey In Progress
Fast Facts
Fast Fats
ASX Code:
ASX Code:
SCR
HNR
Capital Structure
Capital Structure
Shares on issue:
62.5m
Shares on issue:
128m
Options on issue:
Market
80c) cap:
12m (ex 20c –
Market cap:
$21.1m
Options on issue:
65.0m (ex 20c – 25c)
$12m (undiluted)
Scandinavian focussed minerals company Scandinavian Resources Ltd
(ASX:SCR) confirms a ground based gravity survey has commenced at its
100% owned Kiruna Iron Project located approximately 30km from the
2Bt Kiruna iron mine (owned by LKAB) – the world’s largest and most
modern underground iron mine.
Financial Position
Cash &ASX Equities: $20.6m
Cash:
$6 m
Financial Position
Board of Directors
Cash on hand:
Damian Hicks
Value of ASX Listed
Olof Forslund
Equity Positions:
Ian Gregory
Board of Directors
Richard Scallan
Primary
DamianProjects
Hicks
Sweden
Director
William Hicks
Kiruna
Swampy Mountain
Major
NorwayShareholders
Atlas
Iron Ltd
Lake Embrace
Ground based gravity survey in progress at the Kiruna Project
Profiles will cover prospects within the Piedjastjåkko nr 1 & 4
and Luppovare nr 1 & 2 permits (refer attached maps)
New gravity data will then be modelled with historic detailed
ground based magnetic data
$5.2m
Chairman
Scandinavian Resources Ltd Technical Director Mr. Olof Forslund said,
“We are one of, if not the largest, permit holder in the Kiruna District
and have now commenced field work at this very promising iron
exploration project.”
Technical Director
$15.4m
Director & Company
Secretary
Chairman
Managing
Non-Executive
Iron
Director
Iron-copper-gold & PGE
Copper-lead-zinc
Warwick Resources Ltd
Project Pipeline
Projects
(Western Australia)
Commodities
Manganese
Forrestania
Nickel
Gold& Gold
Queen Victoria Rocks Nickel
Copper
Lake Johnston
Nickel & Gold
Jigalong
Manganese
Copper-gold
Copper-lead-zinc
“I have asked the team from GeoVista, one of Sweden’s most
experienced exploration consulting firms, to design and project manage
this initial phase of gravity surveying. The aim of the survey is to assist
with the modelling of the iron drill targets. A work plan for the gravity
has been lodged and approved by all stakeholders and the survey has
commenced. The survey is being completed using snow mobiles and the
initial phase of drilling this summer will utilise a helicopter borne
diamond drill rig.”
Gravity measurements will be performed along a total of 6 profiles
named A-F in the enclosed map, or as many as possible with respect to
the snow melting which may prevent some of the lines to be surveyed.
The number of survey stations is 120 along 11.4 line-km in the
Piedastjåkko area (A-D) and 135 along 11.5 line-km in the Luppovare
area (E-F). In all 255 points over 23 line-km. The station spacing varies
between 50 and 100 metres, occasionally 200 metres at the end of
lines.
Ground Floor, 28 Ord Street, West Perth, Western Australia
PO Box 1668, WA, 6872
+61 8 9324 1153 (T)• www.scandinavianresources.com (W)
ACN: 132 035 842 • ASX:SCR
Kiruna Iron Project – Ground Based Gravity Survey in Progress
28 April 2010
Please visit www.scandinavianresources.com for a detailed summary of the Company’s projects.
Contacts:
Damian Hicks
Chairman
Scandinavian Resources Ltd
Tel: 9324 1153
Karen Oswald
Professional Public Relations
Tel: 9388 0944
Mobile: 0423 602 353
Scandinavian Resources Ltd (ASX: SCR)
By way of introduction Scandinavian Resources’:
strategy is to ‘incubate’ a highly prospective portfolio of iron, manganese, gold, PGE and base
metals projects in Scandinavia (primarily Sweden and Norway).
cornerstone investor is S&P/ASX Top 200 company, OM Holdings Ltd (ASX:OMH).
Technical Director Mr. Olof Forslund was previously Regional Manager of the Geological Survey of
Sweden’s Mineral Resources Information Office in Malå, Sweden.
is the 11th largest landholder (by area) of minerals exploration projects in Sweden and one of the
largest landholders in the world class Kiruna IOCG District.
exploration projects are the Kiruna iron Project (Kiruna District, Sweden), Lake Embrace copperlead-zinc-silver Project (Nordland District, Norway) and Swampy Mountain iron-copper-gold plus
PGE Project (Skellefte District, Sweden).
flagship Kiruna Iron Project is 30km from the 2Bt Kiruna iron mine (owned by LKAB) – the world’s
largest and most modern underground iron mine.
‘pipeline’ of projects cover manganese, gold, copper-gold and lead-zinc prospects in Sweden and
Norway.
Raised AUD6.7 through an Initial Public Offering and was granted admission to the ASX in April
2010
Competent Persons Statement
The information in this document that relates to exploration results is based on information compiled by
Mrs. Amanda Arrowsmith, Consulting Geologist, who is a Member of the Australian Institute of Mining and
Metallurgy. Mrs. Arrowsmith is a consultant to Scandinavian Resources Ltd. Mrs. Arrowsmith has sufficient
experience, which is relevant to the style of mineralisation and types of deposits under consideration and
to the activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition
of the “Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves”.
Mrs. Arrowsmith consents to the inclusion in the report of the matters based on the information in the
form and context in which it appears.
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Luleå 2010-03-31
Offer: Nr. 30/2010 5(5)
Kiruna Iron Project – Ground Based Gravity Survey in Progress
28 April 2010
The above figure highlights the magnetic features, prospective for iron mineralisation, that extend into the Company’s exploration permits from the
Ekstromsberg iron deposit. Refer to page 48 of the Independent Geological Report in the Company’s Replacement Prospectus dated 6 November 2009
for details of the Ekstromsberg iron deposit. Refer to the Summary Table of rock chips collected and assay results contained on page 50 of the
Independent Geological Report for full details of Skuokimjokk sample SKU09002 referred to in the above figure. The Company respectfully acknowledges
the assistance and data provided by the Geological Survey of Sweden (www.sgu.se).
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Kiruna Iron Project – Ground Based Gravity Survey in Progress
28 April 2010
Assay results for each of the prospects highlighted in the figure above have been extracted from the Summary Table of rock chips collected and assay
results contained on page 50 of the Independent Geological Report in the Company’s Replacement Prospectus dated 6 November 2009. This figure also
highlights the exploration permit names that can be cross referenced to the Exploration Permits Schedule contained on pages 35 and 36 of the
Prospectus.
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Kiruna Iron Project – Ground Based Gravity Survey in Progress
28 April 2010
Location of Scandinavian Resources Ltd's primary exploration projects - Kiruna iron project, Lake
Embrace copper-lead-zinc project (Famnvatnet is the Norwegian name) and Swampy Mountain
(Våtmyrberget is the Swedish name)
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