Norway

Bayrock’s Meråker and Sagvoll projects are both located within the Røros Mining District of Norway. This district hosts well documented occurrences of Volcanogenic Massive Sulfide (‘VMS’) and magmatic nickel-copper sulfide deposits, some of which have historically developed into commercially significant mining operations.

Norway exploration rationale is based on the perceived prospectivity for volcanogenic massive sulfide Cu-Zn-Au deposits:

• Fonnfjell, Mannfjell and Lillefjell copper-zinc deposits in the Meråker Project; and
• Åkervoll and Malsa copper deposits in the Sagvoll Project.

Meråker and Sagvoll Projects location

Meråker Project

The Meråker Project is located in the Meråker municipality, Trøndelag County, Norway, approximately 9km south of the village of Meråker and 68km east of the city of Trondheim. The Meråker Project consists of 19 contiguous Exploration Licences totalling 184km².

Sagvoll Project

The Sagvoll Project is located in the Verdal and Steinkjer Municipalities, Trøndelag County, Norway, approximately 32km east of the town of Verdalsora and 96km northeast of the city of Trondheim. The Sagvoll Project consists of 8 contiguous Exploration Licences totalling 80km².

Targets are defined by historical mineral deposits / mines, geochemical sampling and interpreted anomalies from airborne Electro Magnetic (‘EM’) surveys undertaken by previous explorers.

In particular, Bayrock intends to follow-up EM anomalies interpreted from a 2021 airborne geophysics survey to define drilling targets at these properties. Historical magmatic nickel-copper sulfide deposits have also been identified at the Skjækerdalen deposit in the Sagvoll Project.

Although exploration at the Meråker and Sagvoll Projects remains at an early stage, the conceptual targets identified to date are largely associated with or adjacent to existing historical workings from the 1800’s and 1900’s, that are considered prospective and warrant modern day exploration evaluation.