Arctic Gold AB
Arctic Gold is planning on a rapid re-start of gold mine in Norway.
Arctic Gold AB is a Swedish exploration and mining development company. Its main project is the gold and copper deposit in Bidjovagge in northern Norway. Profitable gold and copper production was previously taking place in the Bidjovagge mine during the 70’s and 80’s. The current high prices on gold and copper make re-opening the mine interesting. During 2011 the company has started the work on a planning program for the Bidjovagge project. The planning program is an important step where all parts of the project are described and all possible consequences are illuminated.
The development of our mining project in Bidjovagge is progressing according to plan, and we have published estimations of the mineral resource in Bidjovagge totalling 2.3 million tons indicated resource with 1.62 g/t gold and 1.08 % copper which corresponds to around 3,800 kg of gold and 25,000 tons of copper. The company was recently granted a ”utvinningsrett” (roughly equivalent to exploitation concession) for the mine field by the Norwegian authorities, and this is a major step forward for our continued work in Bidjovagge. The goal is to make investment decisions during 2013.