release The Geological Survey of Finland (GTK) Economics / Mathematics and natural sciences 02.07.2010 10:32 Communications contact Sini Autio sini.autio@gtk.fi Phone: 020 550 2322 Mobile: 040-548 6545 Fax: Assessment of platinum group element resources in Finland The Geological Survey of Finland (GTK) has evaluated platinum group element resources in Finnish bedrock to a depth of one kilometre. Platinum group elements include metals such as platinum and palladium. Most of Finland’s known deposits of platinum group elements are located in the northern part of the country in layered intrusions around 2,450 million years old. Most of these layered intrusions are located in a belt crossing Finland to the east from Tornio to Näränkävaara in Koillismaa. Another belt containing layered intrusions runs from northwest Finland (referred to as the ‘arm of Finland’) southeast through Lapland via Akanvaara and continues into Russia. Most of the potential, but as yet undiscovered, deposits of platinum group elements in Finland are estimated to be located in layered intrusions about 2,450 million years old in northern Finland. GTK has assessed the metal content of these undiscovered deposits at various probabilities. The assessment has been carried out using a three-part assessment method developed by the U.S. Geological Survey. Areas in which there could be certain types of ore deposits are delineated based on deposit models, the numbers of potentially undiscovered deposits in the areas are estimated, and the quantities of metals contained in the deposits are calculated. Significant metal resources are waiting undiscovered in Finland’s bedrock Forty-three areas that could contain undiscovered deposits of platinum group elements were established in Finland. The areas are expected to contain approximately 50 undiscovered deposits, and their combined quantity of metals calculated at a probability of 50% are at least 5,600 tonnes of platinum, 12,000 tonnes of palladium, 430 tonnes of gold, 4,200,000 tonnes of nickel and 5,700,000 tonnes of copper. In Finland, there are six known deposits of platinum group elements located in layered intrusions that are 2,450 million years old, on which a reliable ore estimate has been published, and over 30 prospecting sites established. In addition, the large Kevitsa polymetallic deposit contains a considerable quantity of platinum and palladium. The total known platinum group element resources in Finland are around 90 tonnes of platinum and 240 tonnes of palladium. In the light of these figures, the share of currently known deposits of Finland’s potential overall platinum group element resources is at the level of two per cent. The assessment does not, however, take a view on the amount of undiscovered resources that will possibly be discovered. The results of the survey have been published in GTK's Report of Investigation 180: Rasilainen, Kalevi; Eilu, Pasi; Halkoaho, Tapio; Iljina, Markku & Karinen, Tuomo 2010. Quantitative mineral resource assessment of platinum, palladium, gold, nickel, and copper in undiscovered PGE deposits in mafic-ultramafic layered intrusions in Finland. Geological Survey of Finland, Report of Investigation 180. 32 pages, 8 figures, 7 tables and 5 appendices. Total number of pages 338. (Electronic publication) Available online at: http://arkisto.gtk.fi/tr/tr180.pdf The map shows areas containing deposits of platinum group elements http://en.gtk.fi/export/sites/default/_system/In_focus/kuvat/Platinametallien_esiintymisalueita_EN.pdf GTK 125 years - eternally young The decree establishing the Geological Survey of Finland was issued 125 years ago. For further information, please contact: Geological Survey of Finland Kalevi Rasilainen, Geologist, tel. +358 (0)20 550 2401 or +358 (0)40 722 9850, kalevi.rasilainen@gtk.fi Pasi Eilu, Senior Scientist, tel. +358 (0)20 550 2565 or +358 (0)40 864 9165, pasi.eilu@gtk.fi Reference link: http://en.gtk.fi/