MINEX Forum

Tag: Goldsky Resources

  • Goldsky Resources Initiates Metallurgical Testing at Barsele Project in Sweden

    Goldsky Resources Initiates Metallurgical Testing at Barsele Project in Sweden

    Goldsky Resources Corp, a publicly listed gold exploration company, has announced the commencement of metallurgical test work on composite samples from its Barsele Project in Sweden. The samples, weighing a total of 345 kg, have been sent to Alfred Knight in Truro, United Kingdom, for analysis. This test work is crucial for determining the power requirements and reagent dosage necessary for the project, which is expected to contribute significantly to the Preliminary Economic Assessment (PEA) scheduled for publication in 2027.

    The metallurgical testing will encompass a range of assessments, including crusher comminution tests, Bond rod mill and ball mill tests, gravity gold recovery tests, gold leach kinetic tests, and detoxification tests. These tests are designed to provide essential data that will inform the resource update at Barsele, which is currently host to an Indicated Mineral Resource of 7.88 million tonnes grading 1.27 g/t Au and an Inferred Mineral Resource of 28.75 million tonnes grading 1.98 g/t Au.

    Russell Bradford, CEO of Goldsky Resources, expressed enthusiasm about the initiation of this metallurgical test program, highlighting its importance for the company’s future operations and resource assessment. The entire program is expected to take approximately 16 weeks, with results to be released to the market as they become available.

    Goldsky Resources is consolidating assets in Sweden and Finland, with the Barsele Project being its flagship asset. The company holds a district-scale license position surrounding Barsele, covering around 80,000 hectares on Sweden’s Gold Line greenstone belt, which includes two additional projects, Paubäcken and Storjuktan. In Finland, Goldsky Resources owns the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence in that region, as well as the Rajapalot gold-cobalt project in northern Finland.

    As the mining industry continues to evolve, the results from Goldsky’s metallurgical tests could play a pivotal role in shaping the future of the Barsele Project and the company’s strategic objectives in the region. Investors and stakeholders are keenly awaiting the outcomes of these tests, which are expected to provide valuable insights into the project’s economic viability and operational efficiency.

  • Goldsky Resources Completes Barsele Consolidation From Agnico Eagle and Plans One of Sweden’s Largest-Ever Drilling Campaigns

    Goldsky Resources Completes Barsele Consolidation From Agnico Eagle and Plans One of Sweden’s Largest-Ever Drilling Campaigns

    Goldsky Resources has closed its acquisition of Agnico Eagle’s 55% interest in the Barsele gold project in northern Sweden, becoming the sole owner of a 2.15 million ounce resource and immediately planning what the company describes as one of the largest drilling campaigns ever undertaken across the licence.

    As agreed when the transaction was announced in January, Agnico received $20 million in cash, approximately 75.51 million Goldsky shares valued at C$2.64 each, and a 2% net smelter return royalty. Royalty obligations to Orex Minerals were also transferred to Goldsky as part of the deal. Agnico has emerged as an approximately 32% shareholder in Goldsky, holding nearly 83 million shares and holding an investor rights agreement for top-up participation.

    Goldsky CEO Russell Bradford described the closing as marking “an exciting new chapter” for the company. The Barsele project, located in Västerbottens Län approximately 600 kilometres north of Stockholm, has been explored by Agnico for a decade, with the majority of the existing 2.15 million ounce resource sitting in the inferred category — leaving significant potential for resource growth through systematic drilling. The company has budgeted $25 million for a 2026 drilling programme at the property.

    Goldsky shares were 2.5% higher by midday Thursday at C$3.25, giving the company a market capitalisation of approximately C$598 million ($421.7 million). In addition to Barsele, the Toronto-based junior holds the Paubäcken and Storjuktan projects in Sweden’s historically defined Gold Line belt, as well as three projects in Finland including the Rajapalot property in Lapland.