Strategic Resources: Developing the Past Producing Mustavaara Mine in Finland

Strategic Resources Inc. (TSX:SR.V) advances the Mustavaara and Silasselkä projects in Finland. Strategic Resources is a Ross Beaty backed company that is part of the Lumina Group that aims to become a significant player in the emerging vanadium space, which has the potential to grow with increased demand in steel and the budding Vanadium Redox Battery (VRB) market.

The company’s flagship Mustavaara project is a large vanadium-iron-titanium deposit mined by the Finnish state company Rautaruukki Oy between 1976 and 1985. The vanadium produced from Mustavaara and the nearby Otanmäki deposit accounted for approximately 10 percent of global vanadium production at that time. Today, the project remains highly viable and economically prospective.

Strategic Resources’ Company Highlights

• Strategic Resources currently operates its 100 percent owned flagship Mustavaara project and Silasselkä project in Finland.
• The company’s vision is to establish a base of vanadium exploration properties in the near term with the potential to expand into other metals that market analysis expects will form the basis of an electrified economy.
• The company acquired the past-producing Mustavaara mine in July 2020 and just released(May 2021) a preliminary economic assessment.
• The Preliminary Economic Assessment showed a long-life project that is economic at today’s metal prices.
• The company plans to advance Mustavaara and continue exploring Silasselkä in 2021. Both projects contain vanadium-rich zones with large-scale development potential along strike.
• Strategic Resources has the option to earn 100 percent interest in the Silasselkä project from Aurion Resources Ltd. under specific share issuant and financing conditions.
• Strategic Resources leverages a top-tier financial and project advancement track record and deep industry connections as part of the Lumina Group. Its robust portfolio of mineral exploration companies has returned over US$1.6 billion since the group’s formation.

The post Strategic Resources: Developing the Past Producing Mustavaara Mine in Finland appeared first on Investing News Network.

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Author: Diana Fernandez