Canada-based Aurion Resources has entered into an agreement with KoBold Metals from US to conduct critical mineral exploration at its Risti project in Finland.
According to the terms of the agreement, KoBold would be eligible for a 75% stake in a 35 km² section of Aurion's wholly owned Risti project after investing $12 million in exploration over five years, with an initial $1 million commitment within the first 18 months.
After KoBold fulfils its obligations under the agreement, the parties will form a joint venture, with Aurion holding a 25% stake.
"The agreement with a split commodity structure enables Aurion to retain full exploration and ownership rights over significant gold and silver discoveries while leveraging KoBold’s capabilities in critical minerals exploration," Aurion CEO Matti Talikka said.
The region’s base metal potential is underscored by major nearby deposits, including the Kevitsa nickel/copper/platinum group elements mine operated by Boliden and Anglo American’s Sakatti discovery, located 12 km from the Risti project.
Theodor Lisovoy, Managing Editor, Rough&Polished
