Avira earns majority stake in Swedish project
ASX-listed Avira Resources has completed the Stage 2 earn-in requirements for the prospective Puolalaki nickel/copper/cobalt project, in Sweden.
“We are thrilled to have completed the Stage 2 earn-in requirement as per the terms. This achievement is a testament to our team's dedication and the strong collaboration with our partners,” said executive director David DeLoub.
To complete the Stage 2 earn-in, Avira had to spend no less than A$650 000, and to progress to Stage 3, the company must spend at least another A$1.5-million that will take its ownership to 80%.
The project is located in Sweden’s premier Gällivare mining district which is host to Europe’s largest open-cut copper mine Aitik, owned by Boliden and to LKAB’s Malmberget iron-ore mine.
The Puolalaki project currently comprises a single exploration permit centred over a syn-orogenic gabbro intrusion that hosts the nickel mineralisation discovered by NAN in 1998.
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