Single drill hole could spark international gold rush in Finland after ‘significant’ discovery
The significant discovery was confirmed to be found in bedrock samples taken from the site in February along the Karelian Gold Line in Ukkolanvaara, according to mining and exploration company Endomines.
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UKKOLANVAARA, Finland – A single drill hole in Finland has unearthed a significant gold deposit, sending shockwaves through the global markets in what could likely be a new international gold rush.
The significant discovery was confirmed to be found in bedrock samples taken from the site in February along the Karelian Gold Line in Ukkolanvaara, according to mining and exploration company Endomines.
The initial drill hole, named UKKO-001, hit three major gold-rich sections and has exceeded expectations, the company's CEo, Kari Vyhtinen, said.
"An impressive result was achieved with the very first drill hole," he notes. "The result confirms the great gold potential of the Ukko-deposit in Ukkolanvaara. Three such high-grade gold zones in the same drill hole is something we have never seen before in exploration."
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Vyhtinen said their plan was to conduct only a three-to four-week research campaign in the area, but the company has now decided to continue the investigations indefinitely.
"The iron deposit in Ukkolanvaara is very extensive," he adds. "Additionally, observations of visible gold in several drill holes indicate that gold is present over a wider area in connection with the iron deposit."
Vyhtinen believes the gold discovery will prove to be "significant."
The company's findings show various samples of gold ranging upwards of nearly 10 grams per metric ton. To date, 12 holes have been drilled, with more results pending.