PAHTOHAVARE (Cu-Au) PROJECT
Pahtohavare is located 8km from Kiruna, was previously mined by Outokumpu and hosts a JORC compliant resource of 2.3Mt @ 1.74% Cu, 0.6 g/t Au. There is significant potential to increase the size of this resource by drilling beneath the existing shallow oxide deposit, and beneath the lowest mined levels (150m) of two historic underground copper mines.
Critical Metals has joint ventured the Pahtohavare Project to Swedish mining company Lovisagruvan AB. The joint venture is aiming to create a long-life sustainable mining centre that is environmentally and socially acceptable to stakeholders where the ore is either processed on site or via a toll treatment facility. Lovisagruvan AB can earn a 70% interest in the project by funding all costs up to a Decision to Mine.
The business case for Pahtohavare is based on the Kylylahti mine model in Finland - an old Outokumpu mine, with similar grades and tonnage that with the benefit of additional targeted exploration can generate significant returns for shareholders.