Gary Cope, President of Barsele Minerals explains the joint venture project with Agnico Eagle in Sweden.
Barsele is a gold project in Northern Sweden operated by Agnico Eagle, and the resource is growing leaps and bounds. It’s currently 55-45 with Agnico holding the 55%. They can earn up to 70% by delivering a prefeasibility statement. Agnico Eagle is a very prominent senior gold producer, very successful company with a market cap in excess of $10 billion.
Barsele is an interesting project. It has two types of mineralization. The main focus of Agnico is the Gold Zone. It’s expanding in three or four different directions right now. There is a new resource coming out in February, but also there is a massive sulfide component, which they are also starting to drill some exploration holes into and we are very, very interested to see the results of that.
You can’t get a better place to find a mine. The infrastructure there is as good as it gets. You got eight hydroelectric projects within half hour of the project. You’ve got power lines going through the middle of the project. You’ve got a highway right to the edge of the project. You’ve got a rail line that goes right beside the project to the smelter on the East Coast. And you have all these incentives from the Swedish Government to bring a mine into production.
This project is starting to look like it could turn into a world class deposit. If it keeps growing the way it is, it will turn into a world class deposit, with a world class operator.
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