The area of Goldore´s Lycksa Project is situated in the SW-part of map-sheet 23I Malå and NW-part of 22I Lycksele (Geological Map of Sweden Scale 1:50000). It is part of the so called “Goldline”, a NW-SE striking about 200 km long geochemical gold-anomaly-zone (see separate report).

Goldore holds two exploration permits and one application: Lycksa Nr.1, Lycksa Nr.3 and Lycksa Nr.4 on the northern lithological contact (interpreted) between granite and older rocks. These areas include a mineralized outcrop within Lycksa Nr.3. The permit area Lycksa 2 is located at the southern contact and crosses the Lycksa stream.

The region has undergone several geochemical and geophysical surveys from the Geological Survey of Sweden (SGU) in the 80´s and early 90´s. Further, the resulting anomalies have been followed up by extensive boulder-tracing.

Lycksa permit-map with known boulders and outcrops Geomorphology

The landscape is characterized of a glacial till cover with peat bogs. Thus – there is a lack of bedrock-outcrops, but one of the rare outcrops at Sissnartjärn (N7200190/E651886) shows gold-bearing quartz veins with 2.4ppm Au, 20ppm Ag and 0.78% Cu. 2

The map below, from PRAP86079, shows the Quaternary Geology; outcrops and areas with thin soil-cover are marked in red. The main direction of the ice-transport is interpreted from drumlin-axes and glacial striation as 30-40° from NW. This main geomorphological direction can also be derived from the Lidar-Elevation-Model from Lantmäteriet (the Swedish geodetic authority), which the maps are based on.

Soil-map from PRAP 86079, interpreted from aerial photos Geology & Geophysics

Lycksa is located in the central part of the Proterozoic Fennoscandian Shield.

The nearest known major deposits are Kristineberg (massive sulfides) of Boliden, 30km to the northeast, and Barsele (stockwork and vein-type gold) of Agnico Eagle, 35km to the northwest.

According to the Geological Map of scale 1:50,000 of the Swedish Geological Survey, the permit-areas are situated in the contact-zone between the relatively younger 1.8 Ga Revsund-type Granite (mainly coarse-grained with feldspar-porphyroblasts), completely surrounding a remnant of older, 1.9 Ga Meta-Tonalite/Granodiorite (mainly fine-grained).

There are very few outcrops and nowhere is the contact between those two granites exposed in outcrop. The geological map is based on the interpretation of airborne magnetics from 1982 (PRAP 83002). 3

The author of that report, Carl-Axel Triumf, writes that the magnetic patterns may suggest the occurrence of remnants of older supra-crustal rocks in the interpreted contact-zone. Metagreywacke, mica-schist, quartzite, and graphite and sulfide bearing schists are dominating the region west of the prospects. These rocks are dated to be 1.96 – 1.87 Ga. The magnetic map shows patterns and lineations in NNW-SSE and NE-SW directions which indicate a more differentiated bedrock-geology underneath the usually thick till-cover.

An angular mineralized supra-crustal boulder (quartz-banded phyllite, N7200201/E656725) lies in the ice-transport-direction from the strong magnetic anomaly at the contact.

In short, due to the almost total lack of outcrop, very little is known about the geology of the area. Outcrops are of course always the most tangible information. Basically, the only known outcrops are the weakly mineralized outcrop along the road at Nottjärn (just west of Lycksa Nr.3) and the strongly mineralized outcrop at Sissnartjärn, within Lycksa Nr.3. Both known outcrops in the general area are mineralized.

Geological Map from SGU

Airborne Magnetics from SGU Geochemical

Anomalies & Boulder-tracing Although the area has been subjected to multiple glaciations, geochemical methods have been described as reliable instruments to select target areas for gold exploration in Västerbotten (NSG 92038). It is also mentioned that sampling within this geochemical campaign has been carried out carefully and other information (Quaternary Geology, Geology, Geophysics) has to be used for planning and interpretation.

Except the mineralized outcrop at Sissnartjärn, there are no intensive gold anomalies within the permit area but geochemical sampling (GEOK 82004) has shown anomalies for Cu, Zn and Mo south of Nottjärn (N7199418/E650196). In addition to Sissnartjärn we have here a mineralized outcrop and boulders (0.4-1.1 ppm Au). Further boulder tracing has even led to detection of three gold-bearing granitic boulders (0.2-3.6 ppm Au) south of Kalvberget (N7194803/E652854) and the previously mentioned angular phyllite-boulder (11.9 ppm Au) in the southeastern part of Lycksa 4.

According to the Swedish Geological Survey (PRAP 86079), abundant alluvial gold has been found at Stenkulla at the outlet of one of the tributaries of Lycksabäcken to the Ume River. The area has been subjected to several glaciations and reworking of glacifluvial sediments, but the mineralization at Sissnartjärn is one possible source.

The Digital Elevation Model from Lantmäteriet shows that the Lycksa-stream, with the known mineralization at Sissnartjärn in its catchment, could be a source for the alluvial gold at Stenkulla. Based on the terrain, it is likely that the Lycksa-stream has changed its path during the quaternary geological history. Implications

There is strong evidence for orogenic gold-deposits in this region from several sources. Alluvial gold patterns show, that at least part of it could be derived from the prospect-area. Results from outcrops and boulders, together with the sharp edge of the Airborne Magnetics, point out the area in the North (Lycksa Nr. 1, 3 &4), but the patterns of the magnetic map also suggest the area downstream the Lycksa-Stream (Lycksa Nr.2). The geochemical results can only be seen as general, coarse overview because of the low density sampling method (1sample/16km²). The crucial point for further exploration is the lack of outcrops of the bedrock. The mineralized outcrop at Sissnartjärn (Lycksa Nr.3) is the natural starting point for the exploration work. Thus, for further exploration, there is a need for doing Ground-Geophysics (IP, EM), followed by trenching and drilling to the bedrock, and finally a diamond-drilling program.

Hans Selbach Dipl. Geolog

Noted by: Anders West President Goldore Sweden AB (publ)

Literature References

Bergström,J. & Gölin,M. 1983: Utvärdering av bäckmossa som provmaterial vid regional geokemisk prospektering – Paubäcken-Nottjärn och Långtjärn, Västerbotten, BRAP 83030

Gerdin,P. 1982: Lokal geokemisk prospektering vid Pauliden, Nottjärn och Spännfottjärn, GEOK 82004 Gerdin,P. 1983: Norrbyberg – Vackerberget, Blockledningsarbeten på 23I Malå, PRAP 83017

Guld i Västra Västerbotten , PRAP 86027

Einarsson, U. et al. 1989: Södra och Västra Skelleftefältet, Geologiska Prospekteringsarbeten, PRAP 89059.

Exploration Prospects in Northern Sweden No.1, SGU

Exploration Prospects in Northern Sweden No.5, SGU

Hallberg, A., Bergman, T., Gonzalez, J., Larsson, D., Morris, G.A., Perdahl, J.A., Ripa, M., Niiranen, T., and Eilu, P. 2012: Metallogenic areas in Sweden. Geological Survey of Finland, Special Paper 53, pp. 139-206

Ihre,P. & Ehrenborg,J. 1982: Beskrivning till Berggrundskarta 23I Malå SV, BRAP 82120

Kathol, B. & Weihed, P. (eds) 2005: Description of regional geological and geophysical maps of the Skellefte District and surrounding areas. Sveriges geologiska undersökning, serie Ba 57. 197 p.

Lindberg, R. 1981: Guld i Västerbotten, Arbeten utförda 1981, BRAP 81077

Lindberg, R. et al. 1986: Guldvaskning i Lycksele, PRAP 86079

Lindberg, R. 1987: Berggrunden inom Lycksele Kommun Malm-Industrimineral-Sten- och Vaskguld-intressanta områden, PRAP 87010 Lindroos, H. 1989: Projekt Södra och Västra Skelleftefältet, PRAP 89517

Lindroos, H. 1989: Gold exploration in the Juktan area, 1989. Sveriges Geologiska AB, prospekteringsrapport, PRAP 89536.

NSG Gold Exploration in Sweden 1984-1991, compiled by

Lindroos, H.; Nilsson,B. & Ros,F.,

NSG 92038

Olsson, O. 1980: Flygelektrisk Tolkning av 22I Lycksele, FM8013

Triumf, C.-A. 1983: Tolkning av Flygmagnetiska Kartan Petrofysik 23I Malå, PRAP 83002