Rakkuri - Close to Rail, Roads, Power and Pelletisers

Rakkuri is located some 5 km south of Kiruna and comprises two main skarn-hosted magnetite deposits - Rakkurijoki and Rakkurijärvi prospects.

The Rakkurijoki prospect is the more advanced of the two, having been the subject of a scoping study in 2013. The nearest road is approximately 250 m away, and rail and power lie at a distance of approximately 1.3 km and 400 m respectively.

The Rakkurijoki deposit is located approximately 5 km south of Kiruna. The Rakkurijärvi prospect is located approximately 2 km south west and along strike of the Rakkurijoki prospect and is some 8 km south west of Kiruna township. Almost all of the mineralisation at Rakkurijärvi is located under the lake and detailed environmental studies will be required to understand the impacts of draining the lake for a potential mining scenario.

An exploitation concession application for Rakkurijoki is currently being prepared for lodgement.

In Sweden the railway is Government-owned and available to be used by third parties wanting to access to deep water iron ore ports at either Narvik, Norway (180km) or Luleå, Sweden (340km).

An international iron ore company paid USD1 Million to complete DD on Rakkuri in 2015 and whilst the due diliegnce confirmed the data provided by KIAB, the rapidly falling iron ore price at the time precluded a transaction from being completed.

Rakkuri Project 2017 Resource estimate at 20% Fe cut-off (including the Rakkurijoki and Rakkurijärvi deposits)

Prospect Classification Tonnage (Mt) Iron (% Fe) Phosphorous (% P) Sulphur (% S) Density (t/m3)
Rakkurijoki Indicated 37.2 37.3 0.22 2.0 3.4
  Inferred 38.3 37.3 0.21 2.0 3.4
  Total 75.5 37.3 0.21 2.0 3.4
Rakkurijärvi Inferred 55.7 27.5 0.07 0.9 3.2
Combined Ind. & Inf. Total 131.2 33.1 0.16 1.5 3.3