Valkea Resources Establishes the Bulk-Tonnage Koivu Zone; Drills 15.35 Meters of 3.43 g/t Gold, Including 2.75 Meters of 12.92 g/t Gold at the Paana Project, Finland

Rhea-AI Summary

Valkea Resources has announced significant drill results from its inaugural exploration program at the Paana project in Lapland, Finland. The 1,997-meter, six-hole program targeted gold mineralization at the Aarnivalkea West discovery.

Key highlights from the Koivu Zone:

• Hole AW-24-005: 36.45 meters of 1.50 g/t gold, including 15.35 meters of 3.43 g/t gold and 2.75 meters of 12.92 g/t gold
• Hole AW-24-004: 37.95 meters of 0.61 g/t gold, including 12.65 meters of 1.25 g/t gold

The Honka Zone drilling revealed notable intersections:

• Hole AW-24-003: 10.25 meters of 1.45 g/t gold, including 4.75 meters of 2.77 g/t gold
• Hole AW-24-001: 8.6 meters of 1.03 g/t gold, including 0.5 meters of 4.53 g/t gold

Positive

• All six drill holes successfully intercepted gold mineralization
• Strong continuity of bulk-tonnage gold mineralization over 100-meter dip extent
• High-grade intersection of 62.4 g/t gold over 0.5 meters in Koivu Zone
• Strategic location near Europe's largest gold producer (Kittila mine)
• Mineralization remains open for expansion

Negative

• True widths of mineralization currently unknown
• Significant gap of 500 meters between zones remains untested
• Additional drilling required to determine economic viability

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - Valkea Resources Corp. (TSXV: OZ) (the "Company" or "Valkea") is pleased to announce drill results from its inaugural exploration drill program at its 100% owned Paana project in Lapland, Finland. The 1,997 meter, six hole drill program targeted both high-grade (Kittila-style) and bulk-tonnage (Ikkari-style), disseminated gold mineralization at the Aarnivalkea West discovery.

Highlights: Koivu Zone

• Holes AW-24-005 and AW-24-004 tested the up-dip and down-dip extent of disseminated gold mineralization discovered in historical hole FAVD-64 (55.48 meters of 1.63 g/t gold including 8.50 meters of 8.57 g/t gold⁷)
  
  
• Drill hole AW-24-005 intersected 36.45 meters of 1.50 g/t gold including 15.35 meters of 3.43 g/t gold and including 2.75 meters of 12.92 g/t gold from 150.15 meters down hole
  
  
• AW-24-004 intersected 37.95 meters of 0.61 g/t gold including 12.65 meters of 1.25 g/t gold and including 1.50 meters of 4.99 g/t gold from 220.10 meters down hole
  
  
• Results demonstrate strong continuity of Ikkari-style, bulk-tonnage gold mineralization over a 100-meter dip extent where it remains open down-dip. Further step-out drilling down-dip and along strike is warranted

"Results from our inaugural drill program at the Aarnivalkea West target have verified the significant potential of the target area," stated Chris Donaldson, CEO of Valkea Resources. "Every hole drilled hit gold mineralization. Based on new data from these holes, as well as from a concurrent core relogging program, we now have the technical data required to create a structural model and target the extents of both the high-grade (Kittila-style) mineralization and the newly established disseminated gold (Ikkari-style) mineralization.

"The Central Lapland Greenstone Belt is a prospective district with numerous significant gold occurrences, yet it has been historically under explored. Valkea is strategically positioned with a dominant land position next to Kittila, Europe's largest gold producer (Agnico Eagle Mines) and proximal to the development stage Ikkari project of Rupert Resources. The region has become globally significant for gold exploration and discovery and is experiencing a surge in recent exploration, including neighbouring projects controlled by B2Gold and Kinross Gold.

"We look forward to updating our shareholders with plans for our next phase of exploration."

Aarnivalkea West Target

The Aarnivalkea West target, located approximately 24 km northwest of Agnico Eagle's Kittilä mine and 65 km northwest of Rupert Resource's Ikkari deposit (Figure 1), is underlain by highly prospective rocks of the Central Lapland Greenstone belt. Based on previous exploration programs, the broad and open 1.3 km long target is considered prospective for both Kittila-style, high-grade mineralization and Ikkari-style disseminated mineralization.

Figure 1. Map of the Central Lapland Greenstone Belt highlighting Valkea's landholdings as well as neighboring companies and associated exploration, development and mining projects. See References below for sources of data.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7621/242589_8429d81bd4ffa888_001full.jpg

Drill Program

1,997 metres of core drilling in six holes were completed across the Aarnivalkea West target (Figure 2). New drilling has outlined and expanded two zones of strong gold mineralization, the northern Koivu zone and the southern Honka Zone.

Figure 2. Map showing drill collar locations with selected highlights from Aarnivalkea West.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7621/242589_8429d81bd4ffa888_002full.jpg

Koivu Zone: Holes AW-24-004 and AW-24-005 targeted the up- and down-dip extent of disseminated bulk-tonnage style mineralization near historical hole FAVD64 (Figure 3). Hole FAVD64 was the only deep hole previously drilled on section 772400N (Figure 3).

AW-24-005 intersected 36.45 meters of 1.50 g/t gold including 15.35 meters of 3.43 g/t gold from 150.15 meters down hole (Table 1). This interval is approximately 30 meters up-dip from FAVD-64 (Figure 3). A high-grade interval of 0.5 meters of 62.4 g/t gold cored the broad zone of mineralization (Figure 3). Similarly, AW-24-004, a 25-meter step-out, down-dip from mineralization in FAVD64, intersected 37.95 meters of 0.61 g/t gold, including 12.65 meters of 1.25 g/t gold and including 1.5 meters of 4.99 g/t gold. This hole bottomed in 20.25 meters of 0.37 g/t gold including 4.45 meters of 1.10 g/t gold at 285.35 meters down hole (Figure 3). This lower intercept is down-dip from a deeper interval in AW-24-005 (Figure 3) and demonstrates the presence of a parallel east-dipping zone of disseminated mineralization. Mineralization at Koivu consists of quartz-carbonate-pyrite veins and veinlets hosted in deformed and silicified intermediate volcanic rocks and diorite porphyries (Figure 3).

Table 1. Aarnivalkea West Assay Results - Koivu Zone

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)
AW-24-004	47.25	54.90	7.65	0.18
and	65.80	68.00	2.20	0.29
and	127.70	129.25	1.55	1.22
and	176.40	181.35	4.95	0.41
and	220.10	258.05	37.95	0.61
including	245.40	258.05	12.65	1.25
including	245.40	246.90	1.50	4.99
and	285.35	305.60	20.25	0.37
including	290.00	294.45	4.45	1.10
AW-24-005	122.90	143.95	21.05	0.21
and	150.15	186.60	36.45	1.50
including	169.40	184.75	15.35	3.43
including	182.00	184.75	2.75	12.92
including	182.00	182.50	0.50	64.20
and	223.95	242.20	18.25	0.38
and	295.85	302.80	6.95	0.19

 

1. Calculations are uncut and length-weighted using a 0.1 g/t gold cutoff with less than five continuous meters of internal dilution.
2. Intervals are downhole core lengths. True widths are unknown.

Figure 3. Section (B to B') showing results from holes AW-24-004 and 005 drilled at the Koivu Zone. See references below for sources of historical data. Inset, box photos of AW-24-005 showing drill core from ~182 meters downhole. Zones of bleaching was caused by silca-sericite-carbonate alteration associated with veins and veinlets of quartz-carbonate-pyrite and disseminated gold mineralization. Abbreviations, qtz = quartz, carb = carbonate, py = pyrite.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7621/242589_8429d81bd4ffa888_003full.jpg

Honka Zone: Holes AW-24-001, 002, 003 and 006 targeted the extent of and structural control on vein-hosted gold mineralization through a series of systematic step-outs on ~25 to 50 meter centres between and offset from historical holes FAV62 and FAVD71 (Figure 4).

All four holes intersected vein-hosted gold mineralization highlighted by AW-24-003; 2.77 g/t gold over 4.75 meters within 1.45 g/t gold over 10.25 meters. Hole AW-24-001, collared 55 meters south of AW-24-003, intersected 4.53 g/t gold over 0.5 meters within 1.03 g/t gold over 8.6 meters in AW-24-001 (Table 2). Similar to the northern Koivu zone, a deeper zone of potentially parallel mineralization was intersected in AW-24-006, which bottomed in 5.03 g/t gold over 1.55 meters within 0.99 g/t gold over 9.2 meters (Figure 4). Mineralization in these southern holes consists of quartz-carbonate-pyrite-arsenopyrite veins and veinlets hosted in deformed and albite-carbonate-sericite altered basalts and intermediate tuffs (Figure 4). Higher-grade veins contain strong arsenopyrite mineralization associated with wall rock albite-sericite alteration. This style of mineralization is typical of Kittila-style orogenic gold deposits.¹²

Whole rock geochemical data, together with detailed logging/relogging and structural data from oriented core are being integrated from the Honka zone to define the geological and structural model for the area. Based on this new model, further drilling will target plunging zones of high-grade, Kittila-style mineralization within broader zones of east-dipping bulk-tonnage style mineralization.

Figure 4. Oblique view of section C to C' showing results from holes AW-24-001, 002, 003 and 006 drilled at the Honka Zone. See references below for sources of historical holes. Inset, box photos of AW-24-003 showing drill core from ~191 meters downhole. Zones of bleaching was caused by albite-sericite alteration associated with quartz-carbonate-pyrite-arsenopyrite veins. Abbreviations, qtz = quartz, carb = carbonate, py = pyrite, apy = arsenopyrite.

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/7621/242589_8429d81bd4ffa888_004full.jpg

Table 2. Aarnivalkea West Assay Results - Honka Zone

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)
AW-24-001	77.70	101.35	23.65	0.17
and	113.55	119.80	6.25	0.31
and	156.70	190.10	33.40	0.35
including	181.50	190.10	8.60	1.03
and	229.00	258.30	29.30	0.21
and	331.40	334.65	3.25	0.48
AW-24-002	103.45	108.50	5.05	0.35
and	203.30	218.80	15.50	0.55
including	203.30	206.80	3.50	1.87
and	234.90	242.60	7.70	0.48
including	238.75	242.60	3.85	0.77
and	262.80	276.00	13.20	0.52
including	269.00	270.70	1.70	2.44
and	282.35	285.60	3.25	1.24
and	315.40	317.45	2.05	1.87
and	337.85	380.60	42.75	0.24
AW-24-003	123.60	144.00	20.40	0.24
and	172.20	174.00	1.80	0.77
and	187.00	197.25	10.25	1.45
including	192.50	197.25	4.75	2.77
and	269.00	323.00	54.00	0.21
including	272.00	276.80	4.80	0.79
AW-24-006	43.00	66.00	23.00	0.16
and	122.10	135.00	12.90	0.28
and	150.80	169.00	18.20	0.48
including	150.80	152.85	2.05	3.40
and	183.05	188.15	5.10	0.20
and	206.15	261.50	55.35	0.25
and	293.70	302.90	9.20	0.99
including	293.70	295.25	1.55	5.03

 

1. Calculations are uncut and length-weighted using a 0.1 g/t gold cutoff with less than five continuous metres of internal dilution.
2. Intervals are downhole core lengths. True widths are unknown.

Summary and Next Steps

The drill program at Aarnivalkea West successfully accomplished its three main objectives: 1) confirm the presence of high-grade and disseminated gold mineralization in two key areas, 2) expand the footprint of known areas of mineralization, and 3) refine the geological and structural model incorporating results from new drilling and relogging of historical drill core.

Follow-up drilling is warranted to test the lateral and vertical extent of gold mineralization at the Koivu and Honka zones. The lightly tested, 500-meter gap between the two zones also warrants systematic drill testing (Figure 5). The Company is also planning project-wide infill BoT (bottom of till) drilling and exploration diamond drilling at the Aarnivalkea East target. Additional targets in neighboring exploration application licences that form part of the greater Paana Project will also be evaluated.

Figure 5. Schematic long section (A to A') through the Aarnivalkea West target showing new and historical drill data. See references below for historical holes.

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/7621/242589_8429d81bd4ffa888_005full.jpg

Table 3. Drill Collar Information

Hole ID	Easting (m)	Northing (m)	Elevation (m)	Azimuth	Dip	EOH (m)
AW-24-001	418381	7551792	241	270	-55	353.9
AW-24-002	418474	7551839	243	270	55	380.6
AW-24-003	418406	7551842	243	270	-50	350.9
AW-24-004	418605	7552399	244	270	-55	305.6
AW-24-005	418529	7552396	246	270	-55	302.8
AW-25-006	418341	7551789	264	300	-55	302.9

 

Coordinates are in UTM Z 35 N

Sampling, Chain of Custody, Quality Assurance and Quality Control

All drill core analytical results have been monitored through the Company's quality assurance and quality control program (QA/QC). Drill core was sawn in half at Valkea's dedicated and secure core logging and processing facility in Sodankylä, Finland.

Half of the drill core was sampled and delivered in secured bags to the ALS Global preparation facilities in Sodankylä, Finland. Core samples were prepared using ALS standard preparation procedure PREP-31A which involves crushing the sample to 70% less than 2mm, followed by a riffle split of 250g, and then a pulverised split to better than 85% passing 75 microns.

Following sample preparation, the pulps were sent to the ALS Global analytical laboratory in Galway, Ireland for analysis. ALS Global is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures.

Drill core samples were analyzed for 48 elements by ICP-MS on a 0.25-gram aliquot using a four-acid digestion (method ME-MS61). Overlimit samples (>10,000 ppm As) were re-analyzed using an ore-grade, four-acid digestion and ICP-AES finish (method ME-OG62). Gold was analyzed by fire assay on a 30-gram aliquot with an AES finish (inductively coupled plasma atomic emission spectroscopy - method Au-ICP21). Overlimit samples (>10 ppm Au) were reanalysed by fire assay using a gravimetric finish on a 30-gram aliquot (Au-GRA21).

In addition to ALS Global laboratory QA/QC protocols, Valkea implements a rigorous internal QA/QC program that includes the insertion of field and lab duplicates, certified reference materials (standards prepared by an independent lab) and blanks into the sample stream. Data verification of the analytical results includes a statistical analysis of the QA/QC data. Results are considered acceptable.

Investor Awareness and Marketing Agreement

The Company has retained Bluehand Consulting AG ("Bluehand") to provide ongoing digital media marketing services. Bluehand will work to facilitate investor awareness about the Company and its gold exploration projects. It is budgeted that Bluehand will be paid up to €250,000 to develop required content, for a term ending Dec 31, 2025. The budget allocated to Bluehand may be adjusted up or down during the term based on market conditions and Company requirements, and the agreement may be renewed or terminated upon mutual agreement or 3 months' notice. Bluehand is based in Switzerland and provides investor relations and digital marketing services to issuers. To the best of the Company's knowledge, Bluehand does not have any equity interest in the securities of the Company, or a right to acquire such an interest. The Company is at arm's length to Bluehand. The agreement remains subject to the approval of the TSX-V.

About Valkea Resources

Valkea Resources at the forefront of gold exploration in Finland's highly prospective Central Lapland Greenstone Belt (CLGB). With an extensive portfolio of high-potential projects, including the flagship Paana project, Valkea Resources is committed to discovering and advancing significant gold deposits in one of the world's emerging gold districts.

Contact Information

For more information please contact:

Chris Donaldson, Chief Executive Officer and Director

Tel: (604) 813-3931 | Email: info@valkea.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

The disclosure of technical or scientific information in this press release has been reviewed and approved by Christopher Leslie, Ph.D., P.Geo., Chief Geologist for Valkea Resources and a Qualified Person as defined under the terms of National Instrument 43-101.

Some technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The historical technical information has not been verified by Valkea and may in some instances be unverifiable. Mineralization hosted on adjacent and/or nearby projects is not necessarily indicative of mineralization hosted on Valkea's projects.

References

1. Agnico Eagle website (agnicoeagle.com), Dec. 31, 2023 Reserve & Resource statement
2. Agnico Eagle website (agnicoeagle.com), 2009-2023 annual results reports
*total endowment, sum of proven and probable mineral reserves, measured, indicated and inferred mineral resources and historical production
3. Thomas, B., Larouche, I. and Digges La Touche, G. (2023), NI 43-101 Technical Report Rupert Resources Lt. Updated Mineral Resource Estimate for the Ikkari Project - Finland, Effective Date December 12, 2023, Rupert Resources website (rupertresources.com) ⁺indicated mineral resource
4. Aurion Gold website (aurion.com), May 2^nd, 2022 NR and June 13^th, 2022 NR
5. Aurion Gold website (aurion.com), March 19^th, 2024 NR
6. S2 Resources website (s2resources.com.au), August 12^th, 2020 NR
7. S2 Resources website (s2resources.com.au), January 4^th, 2021 NR
8. S2 Resources website (s2resources.com.au), October 11^th, 2021 NR
9. S2 Resources website (s2resources.com.au), September 26^th, 2019 NR
10. S2 Resources website (s2resources.com.au), August 5^th, 2019 NR
11. S2 Resources website (s2resources.com.au), October 8^th, 2019 NR
12. Wyche, N.L., Eilu, P., Kopptrom, K, Kortelainen, V.J., Niiranen, T., and Valimaa, J., (2015), The Suurikuusikko Gold Deposit (Kittila Mine), Northern Finland, Chapter 5.2., Mineral Deposits of Finland

Forward Looking Statements

This news release contains forward-looking statements or forward-looking information relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements in this news release include but are not limited to statements regarding the Company's exploration plans.

Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the Company's ability to carry on exploration and development activities; the timely receipt of required approvals; the price of metals; and the Company's ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include but are not limited to: the Company's early stage of development; the fluctuation of the price of metals; the availability of additional funding as and when required; the speculative nature of mineral exploration and development; the timing and ability to maintain and, where necessary, obtain necessary permits and licenses; the uncertainty in geologic, hydrological, metallurgical and geotechnical studies and opinions; infrastructure risks, including access to water and power; environmental risks and hazards; risks associated with negative operating cash flow; and risks associated with dilution. For a further discussion of risks relevant to the Company, see the Company's other public disclosure documents.

Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242589

FAQ

What are the most significant gold intercepts from Valkea's OZBKF Paana project drilling?

The most significant intercept was 36.45m of 1.50 g/t gold, including 15.35m of 3.43 g/t gold from hole AW-24-005 in the Koivu Zone.

How many meters were drilled in Valkea's OZBKF February 2025 exploration program?

The program completed 1,997 meters of drilling across six holes at the Aarnivalkea West target.

What are the two main mineralization zones identified at OZBKF's Paana project?

The two main zones are the Koivu Zone in the north and the Honka Zone in the south, with a 500-meter gap between them.

How close is OZBKF's Paana project to the Kittila gold mine?

The Aarnivalkea West target is located approximately 24 km northwest of Agnico Eagle's Kittila mine.

What type of gold mineralization styles were targeted in OZBKF's drilling program?

The program targeted both high-grade Kittila-style and bulk-tonnage Ikkari-style disseminated gold mineralization.