9 maart 2022

New financing for Akkerman Finland Oy

Akkerman Finland Oy obtained financing for its 4 exploration projects in Finland through a transaction with Avrupa Minerals Ltd., a Canadian listed company (see also https://avrupaminerals.com/avrupa-closes-deal-to-purchase-four-projects-in-finland/ )

The new funds will be used to advance the company’s search for VMS deposits in the Pyhäsalmi mining district and gold deposits in the Oijärvi Greenstone Belt.

Focus will be on promising areas identified during last year’s helicopter-supported SkyTEM survey and drone-based detailed magnetics performed by Radai. The objective is to outline drill targets on potential extensions of the known Kangasjärvi and Säviä massive sulphide deposits and satellite deposits in their vicinity. The exploration program also aims to find the source of the extensive, distal-type zinc mineralization at Kolima. Akkerman Finland recently applied for an Exploration Permit within its Kolima Reservation and is preparing another application for the area around the former Kangasjärvi mine.

A generative exploration program will also be started in the company’s Yli-Ii Reservation area.  This area covers the southern half of the Oijärvi greenstone belt, which hosts the 250koz Kylmäkangas gold deposit along a major shear zone. Initial work aims to outline other gold-bearing parts of this shear-zone within the Yli-Ii Reservations for detailed follow-up.

The new financing is made available by Avrupa through a share purchase agreement with parent company Akkerman Exploration B.V.  In exchange, Avrupa obtains an initial 49% ownership in Akkerman Finland Oy and an option over a period of 12 months to acquire the remaining shares.