Press Releases

Bluelake Mineral conducts biotope mapping and inventory of wetlands in connection with application for Natura 2000 permit

As previously announced, Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company"), has via its Swedish subsidiary Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral") applied for an exploitation concession within the exploration permits Levi K no. 1 and Stekenjokk K no. 1 in Vilhelmina municipality. In its statement to the Swedish Mining Directorate, the County Administrative Board of Jämtland has previously recommended that an exploitation concession for Stekenjokk K no. 1 should be granted. However, during the ongoing examination of the exploitation concession application, the County Administrative Board of Västerbotten has declared that an examination according to Natura 2000 is required for both of the applied exploitation concessions before a final assessment can be made. Therefore, Vilhelmina Mineral submitted a separate application for a Natura 2000 permit on May 3, 2021, in accordance with the Environmental Act to the County Administrative Board of Västerbotten. Subsequently, as previously announced, the County Administrative Board of Västerbotten has decided that a supplement to the application is required regarding, among other things, the impact on the surrounding water systems. The Company therefore has appointed the consulting company Pelagia Nature & Environment ("Pelagia") to carry out biotope mapping and wetland inventory at Stekenjokk and the upper Saxån river during the autumn of 2021.

The Company's subsidiary Vilhelmina Mineral AB has submitted an application for an exploitation concession for Stekenjokk K no. 1 and Levi K no. 1. This application has since been supplemented with an Environmental Impact Assessment (EIA) for the Natura 2000 area Vardo, Laster and Fjällfjällen, developed by consultant Golder Associates AB. The County Administrative Board of Västerbotten has commented on this EIA with a number of questions, for which some additional inventory in the field is required.

In discussions between the Company and the consulting company Pelagia, an inventory area for biotope mapping and inventory of wetlands has been developed, based on models and assumptions previously presented in the EIA for the application for a Natura 2000 permit. The inventory area includes parts of the upper Saxån river, upstream of the inflow from the Stikkenjukke tributary, and Stikkenjukke up to the old mining area.

Due to further field studies and investigative work, the Company has applied for and been granted a new deadline for submitting its response to the County Administrative Board of Västerbotten, and which is now due no later than November 30, 2021.

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Stockholm, September 2021
Bluelake Mineral AB (publ)
The Board of Directors

Additional information

For additional information, please contact:
Peter Hjorth, CEO, Bluelake Mineral AB (publ), phone +46-725 38 25 25
Email: info@bluelakemineral.com 

General information about the Company

Bluelake Mineral AB (publ) is an independent Swedish company active in exploration and mine development of copper, zinc, nickel and gold resources.

The Company owns approximately 99% of the subsidiary Vilhelmina Mineral AB, which is focusing on the development of copper and zinc deposits in the Nordic region. In Sweden, the Company owns Stekenjokk, where a total of approximately 7 million tons of ore was mined between 1976 and 1988. According to previous resource estimates, there is a remaining indicated mineral resource of approximately 7.4 million tons with grades of 1.17% Cu, 3.01% Zn and 47 g/ton Ag (at cut-off grade of 0.9% Cu). In Norway, the Company is owner in the Joma field, where approximately 11.5 million tons of ore was processed between 1972 and 1998 with an average grade of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is, according to a recent mineral estimate by SRK Consulting, containing indicated mineral resources of approximately 5.6 million tons with grades amounting to 1.04 % Cu and 1.67 % Zn and inferred resources of 0.3 million tons with grades 0.9 % Cu and 1.3 % Zn (at cut-off of 50 USD/ton).

In addition, the Company owns the nickel projects Rönnbäcken (which is Europe's largest known undeveloped nickel resource) and Orrbäcken in Sweden. According to the mining consulting company SRK, the Rönnbäcken project contains a mineral resource of 668 million tons with an average grade of 0.176% nickel ("measured and indicated"). The preliminary economic assessment that SRK completed predicts a production of 26,000 tons of high-grade nickel concentrate per year for 20 years, which would be a significant proportion of Sweden's total annual use of nickel which thereby has a strategic value. Orrbäcken is an exploration license that is considered to have potential as a nickel deposit.

The Company owns the gold project Haveri, through its subsidiary Palmex Mining Oy, which in 2014 carried out a so-called Preliminary Economic Assessment (PEA) prepared by SRK Consulting. This report estimates 1.56 million oz. historically inferred mineral resource of gold equivalents with a grade of 0.93 g/t gold.) Kattisavan is mainly considered to have potential as a gold resource and is located within the so-called gold line, close to projects such as Svartliden, Fäboliden and Barsele.

2021-11-24
Regulatory

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company"), has as previously announced, via its Norwegian subsidiary Joma Gruver AS entered into an agreement with SRK Consulting AB ("SRK") to conduct Mineral Resource Estimates ("MRE") for mineralization at Joma (Norway) and Stekenjokk-Levi (Sweden). SRK now has completed the MRE for Stekenjokk-Levi stating inferred mineral resources of 6.7 million tonnes with 0.9 % Cu, 2.7 % Zn, 0.6 % Pb, 55 Ag g/t and 0.2 g/t Au for Stekenjokk and inferred mineral resources of 5.1 million tonnes with 1 % Cu, 1.5 % Zn, 0.1 % Pb, 22 Ag g/t and 0.2 g/t Au for Levi. The Net Smelter Return ("NSR") value for the inferred mineral resources is estimated to 128 USD per tonne for Stekenjokk and 105 USD per tonne for Levi.

2021-11-19
Regulatory

Third quarter 2021 (July - September)

  • Revenue in third quarter amounts to MSEK 0.0 (1.2)
  • Exploration and evaluation costs for third quarter amounts to MSEK -1.0 (-2.2)
  • After-tax result for the third quarter amounts to MSEK -2.4 (-87.6)
  • Result per share for third quarter amounts to SEK -0.05 (-0.15)

First nine months 2021 (January - September) 

  • Revenue for first nine months amounts to MSEK 0.7 (1.2)
  • Exploration and evaluation costs for first nine months amounts to MSEK -2.2 (-2.3)
  • After-tax result for first nine months amounts to MSEK -12.1 (-265.9)
  • Result per share for first nine months amounts to SEK -0.28 (-0.46)
2021-11-15
Regulatory

As previously announced, Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company"), has via its Swedish subsidiary Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral") submitted an application for a Natura 2000 permit on May 3, 2021, in accordance with the Environmental Code to the County Administrative Board of Västerbotten. Subsequently, as previously announced, the County Administrative Board of Västerbotten has decided that a supplement to the application is required regarding, among other things, the impact on the surrounding water systems. Vilhelmina Mineral now has submitted its supplement to the application to the County Administrative Board in which the key conclusion is that the potential negative impact from planned mining operations is very limited on the Natura 2000 area and a Natura 2000 permit should be granted.

2021-10-01
Regulatory

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company"), has as previously announced, via its Swedish subsidiary Nickel Mountain AB ("Nickel Mountain") entered into an agreement with SRK Consulting AB ("SRK Consulting") to conduct a preliminary economic assessment ("PEA") of the Rönnbäcken nickel project in Sweden. As a supplementary analysis to the PEA, Nickel Mountain has now appointed consultant Minviro Ltd ("Minviro") to conduct a so called life cycle assessment ("LCA") including analysis of CO2 footprint and other environmental impact from the Rönnbäcken project.

2021-09-07
Regulatory

The Board of Directors of Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company") has today, with the support of an authorization from the Annual General Meeting held May 26, 2021, decided on a new share issue directed towards a group of private investors (the "Investors") of a maximum of 3,305,784 shares at a subscription price of SEK 1.21 per share at a total value of MSEK 4 (the "Share Issue").

2021-09-02

As previously announced, Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company"), has via its Swedish subsidiary Vilhelmina Mineral AB (publ) ("Vilhelmina Mineral") applied for an exploitation concession within the exploration permits Levi K no. 1 and Stekenjokk K no. 1 in Vilhelmina municipality. In its statement to the Swedish Mining Directorate, the County Administrative Board of Jämtland has previously recommended that an exploitation concession for Stekenjokk K no. 1 should be granted. However, during the ongoing examination of the exploitation concession application, the County Administrative Board of Västerbotten has declared that an examination according to Natura 2000 is required for both of the applied exploitation concessions before a final assessment can be made. Therefore, Vilhelmina Mineral submitted a separate application for a Natura 2000 permit on May 3, 2021, in accordance with the Environmental Act to the County Administrative Board of Västerbotten. Subsequently, as previously announced, the County Administrative Board of Västerbotten has decided that a supplement to the application is required regarding, among other things, the impact on the surrounding water systems. The Company therefore has appointed the consulting company Pelagia Nature & Environment ("Pelagia") to carry out biotope mapping and wetland inventory at Stekenjokk and the upper Saxån river during the autumn of 2021.

2021-08-16
Regulatory

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company") will via its Norwegian subsidiary Joma Gruver AS ("Joma Gruver") participate in a meeting on August 18, 2021 with Røyrvik municipality in Trøndelag to present a zoning plan in relation to plans for restart of the copper and zinc mine in Joma. At the meeting, Joma Gruver will report regarding planned mining operations and the expected social, economic and environmental impact. The zoning plan and approximately 20 impact assessment studies for various areas (which have been published previously) will form the basis for the municipality's decision during the autumn concerning the zoning plan, which is an important step in the Norwegian permit process. Joma Gruver is of the opinion that a restart of the mine can have far-reaching positive consequences in several areas. Through an estimated investment of more than NOK 500 million, the mine will create many direct and indirect jobs and could function as a growth engine both locally and regionally. The number of inhabitants in the municipality is estimated to increase by approximately 25 % and create increased financial resources for further growth. The mine will be established and operated according to strict principles of sustainability with the least possible impact on the local environment and other sensitive and valuable interests such as nature, hunting, fishing and reindeer husbandry. As copper and zinc can be produced locally instead of being imported from other continents, the Joma mine would also contribute to the global environment through, among other things, lower carbon dioxide emissions.

2021-08-02
Regulatory

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company"), has via its Swedish subsidiary Nickel Mountain AB entered into an agreement (the "Agreement") with SRK Consulting AB ("SRK Consulting") to conduct a preliminary economic assessment ("PEA") of the Rönnbäcken nickel project in Sweden.

2021-08-02
Regulatory

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company"), has via its Swedish subsidiary Nickel Mountain AB entered into an agreement regarding loans amounting to 5 MSEK (the "Agreement") with private investors. The objective with the loan is to finance a Preliminary Economic Assessment ("PEA") regarding the nickel project Rönnbäcken in Sweden and to strengthen the Company's cash position. By conducting a PEA, the Company believes that the prerequisites for raising long term financing for the project are significantly improved.

2021-08-02
Regulatory

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company"), has as previously announced, via its Norwegian subsidiary Joma Gruver AS entered into an agreement (the "Agreement") with SRK Consulting AB ("SRK") to conduct Mineral Resource Estimates ("MRE") for mineralization at Joma (Norway) and Stekenjokk-Levi (Sweden). In a first step, SRK now has completed a mineral resource estimate for Joma stating indicated mineral resources of 5.6 million tonnes with 1.04 % Cu and 1.67% Zn and inferred mineral resources of 0.3 million tonnes with 0.9 % Cu and 1.3 % Zn. The NSR (Net Smelter Return) value for the indicated mineral resource is estimated to 94.63 USD per tonne and 82.4 USD per tonne for the inferred mineral resource.

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