Norge Mining Plc: major extension of the mineral resources of the Storeknuten deposit


LONDON–(BUSINESS WIRE)–Norge Mining plc (“Norge Mining” or the “Company”), the Anglo-Norwegian mining exploration company specializing in the Bjerkreim exploration project in southwestern Norway, announces that new drilling and assay work at the Storeknuten deposit resulted in a significant increase in mineral resources estimated at nearly 1 billion tonnes.

In May last year, the company reported a JORC2 Compliant mineral resource estimate for Storeknuten of 240 million tonnes, confirming Storeknuten as a world-class deposit of the three critical EU raw materials phosphate, vanadium and titanium. New exploration drilling since May last year has almost quadrupled the JORC’s resources to around 910 million tonnes, reinforcing the global significance of the find.

In addition to estimating the vanadium content of Storeknuten magnetite, the overall magnetite content was also measured for the first time with a view to the potential use of iron content.

Strong points

  • Updated JORC Mineral Resource estimate for Storeknuten of 910 million tonnes, containing average grades of 1.55% phosphorus pentoxide, 4.80% titanium dioxide and 0.07% titanium pentoxide. vanadium.

  • The updated resource compares to Storeknuten’s first mineral resource estimate of 240 million tonnes, containing average grades of 2.36% phosphorus pentoxide, 4.71% titanium dioxide and 0.07% vanadium pentoxide.

  • The exclusion of two low-grade phosphate zones in the updated estimate gives an average grade of 3.36% phosphorus pentoxide in a total resource of 410 million tonnes, a substantial increase in grade from the first estimate.

  • Iron oxide grades of magnetite have been included for the first time, giving an average grade for the mineral resource of 7.24%.

  • The updated resource estimate has been prepared in accordance with the JORC reporting standard by SRK Exploration Services Ltd (SRK), part of the SRK Group, an independent international mining, exploration and development consultant. ‘environment.

Storeknuten Mineral Resource Estimate

The updated JORC compliant mineral resource estimate for Storeknuten is detailed below alongside, for comparison, the first JORC estimate of May 2021.




















Zone B FW







Zone B FW High







Zone B high







Zone B low














Outside zone B FW and FW High







JORC ​​Inaugural Statement






N / A

The data cut-off date used to produce the above estimate was November 14, 2021 and the data comes from a total of 5,398 assayed samples from 25 drill holes. A total of 10,638m of drilling had taken place at Storeknuten by the cut-off date in a drilling program that started in September 2020.

The Bjerkreim exploration project is located in southwestern Norway in the large stratified Bjerkreim-Sokndal intrusion, which has been extensively studied by the Geological Survey of Norway (NGU) and other researchers. Norge Mining is focusing on the Bjerkreim lobe of this intrusion, which forms a large syncline trough structure. This trough extends at the outcrop for about 20 km northwest-southeast and up to 10 km northeast-southwest. It is known to extend over several kilometers deep.

Mineralization at Storeknuten occurs in steeply dipping seams that are continuous down dip and along strike and consists of primary igneous mineral assemblages in which magnetite, ilmenite (titanium) and apatite (phosphate) containing vanadium represent the minerals of interest. Vanadium, titanium and phosphate are all on the EU’s list of critical raw materials, defined as materials of strategic importance to the European economy that the EU currently imports.

Storeknuten is part of the Høyland exploration area of ​​the Bjerkreim exploration project and is located 4.5 km southwest of the Øygrei deposit.

When declaring a mineral resource, it is required that there are reasonable prospects for eventual economic extraction. In this case, the requirement was met by limiting the reported tonnage to that from an open pit which was optimized assuming sales prices of US$175/t ilmenite, US$141.25/t of phosphate and 9.38 USD/lb of V2O5 and which exceeds a net smelter yield threshold calculated on the basis of these prices.

While SRK has reported magnetite content in addition to vanadium pentoxide content for the first time, the portions of each that will be produced will depend on the results of the current scoping study and subsequent studies.

The executive summary of SRK’s full mineral resource report will be made available on the company’s website in due course.

Next steps

The new data is being integrated into the scoping study for the Bjerkreim exploration project, which is expected to be completed in the first half of 2022. Further exploration work is also planned, with the aim of putting upgrade a portion of the Mineral Resources to the Indicated Category.

John Vergopoulos, Managing Director of Norge Mining, said:

“This nearly four-fold increase in Storeknuten’s resources marks another significant milestone in the advancement of Bjerkreim’s exploration project. While we will focus on the 410 million tonnes of high-grade mineralization, the vastness of the Total Resource highlights Norway’s strategic position in developing Europe’s mining industry to meet the demands of the clean energy transition, reduce reliance on global supply chains, and achieve environmental and social sustainability goals.

1 World Class Deposit is used in the context of this announcement to mean a very large deposit with the potential to provide major economic and strategic benefits.

2 The reporting standard for this statement is the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” as published by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia” (the “JORC Code”). The JORC code is a reporting code that has been aligned with the Committee for Mineral Reserves International Reporting Standards (“CRIRSCO”) reporting model and is an internationally recognized reporting standard that has been adopted worldwide for reporting related market and financial investments.

The competent person with overall responsibility for the mineral resource is Dr. Mike Armitage, C.Eng, C. Geol, FGS, MIMM, PhD. Dr. Armitage is a Chartered Geologist who is a Recognized Professional Organization (“RPO”) included in a list promulgated by the Australian Securities Exchange (“ASX”) from time to time. He is a corporate consultant associated with SRK Consulting (UK) Ltd and a director of SRK Exploration Services, and has over 35 years experience in the mining and metallurgical industry and also has sufficient experience which is relevant to the style of mineralization and the type of deposit in question and the activity it carries out to qualify as a Competent Person within the meaning of the JORC Code. Dr. Armitage has been responsible for reporting mineral resources and ore reserves on various properties internationally for the past 30 years.

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About Norge Mining plc

Norge Mining plc is an Anglo-Norwegian natural resources company focused on mineral exploration in Norway.

The company’s first mineral resource estimates from the Bjerkreim exploration project have confirmed world-class deposits of vanadium, titanium and phosphate, critical EU raw materials. The provenance of these materials is of significant strategic importance to net zero carbon commitments, a key requirement for which is supply chain transparency.

Norge Mining, which holds 61 exploration licenses totaling more than 520 square kilometers in southwestern Norway, is currently carrying out a program of exploration work, building on previous studies by the Geological Survey of Norway (NGU) . The Company’s ambition is to become a substantial, sustainable and strategically significant exploration and mining company focused on Norway.

Founded in November 2018, the company is headquartered in the UK and has a wholly owned Norwegian subsidiary, Norge Mineraler AS.

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