Ore Reserves and Mineral Resources
An ‘Ore Reserve’ is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.
A ‘Mineral Resource’ is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade (or quality), and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade (or quality), continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.
An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource.
Blötberget Ore Reserve Estimate
| Ore Reserves | s in metric tons (Mt) |
ORE Grade % | ||||
|---|---|---|---|---|---|---|
| Fe | Magnetite | Al₂O₃ | P | SiO₂ | ||
| Proved | 24.1 | 35.2 | 34.5 | 4.1 | 0.4 | 24.6 |
| Probable | 31.6 | 36.8 | 33.7 | 3.3 | 0.4 | 18.5 |
| Total Proven and Probable Ore Reserves | 55.7 | 36.1 | 34.0 | 3.6 | 0.4 | 21.1 |
Ore Reserves Estimate as reported per July 3rd, 2026
For further information, see JORC (2012) Table 1 Blötberget.
Blötberget Mineral Resource Statement
| Resource Classification | s in metric tons (Mt) |
Head Grade (%) | |||||
|---|---|---|---|---|---|---|---|
| Fe | Magnetite | Al₂O₃ | P | SiO₂ | LOI | ||
| Measured | 26.8 | 39.2 | 37.9 | 4.84 | 0.39 | 29.7 | 0.28 |
| Indicated | 29.4 | 44.3 | 40.9 | 4 | 0.5 | 22.7 | 0.34 |
| Measured + Indicated | 56.3 | 41.9 | 39.5 | 4.4 | 0.45 | 26.1 | 0.31 |
| Inferred | 1.6 | 34 | 24.7 | 6.93 | 0.55 | 28.6 | 0.97 |
| Total | 57.8 | 41.7 | 39.1 | 4.47 | 0.45 | 26.1 | 0.33 |
Mineral Resource Statement as reported per July 3rd, 2026
For further information, see JORC (2012) Table 1 Blötberget.
Blötberget Apatite-Rare Earth Element Mineral Resource Statement
| Resource Classification | Metric tons (Mt) | P (%) | TREO (wt. %) | LREO (wt. %) | HREO (wt. %) |
|---|---|---|---|---|---|
| Inferred | 30.1 | 0.47 | 0.072 | 0.054 | 0.018 |
Mineral Resource Statement as reported per July 3rd, 2026
For further information, see JORC (2012) Table 1 Blötberget.
Väsman Exploration Target
| Exploration Target | Grade (Fe %) | Tonnage (Mt) |
|---|---|---|
| Zone 2 | 28.0 – 39.4 | Jan. 3–Jan. 30 |
| Zone 3 | 22.6 – 45.5 | 4.9 – 50.4 |
| Total | 24.7 – 43.2 | 7.9 – 80.5 |
Exploration Targets Reported as of July 3, 2026
Readers are advised that the potential quantity and grade of the presented Exploration Targets are conceptual in nature, and therefore there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Targets have been prepared and reported in accordance with the JORC (2012) reporting code.
JORC 2012 Table 1 – Blötberget
JORC-2012-Table-1-Blotberget.pdf
JORC 2012 Table 1 – Väsman Field
JORC-2012-Table-1-Väsman Field.pdf
Exploration results
Ore Reserves, Mineral Resources, and Exploration Targets (as defined by The JORC Code 2012 )