Since signing the agreement with S2 Resources Ltd. in 2021, Kinross funded approximately CAD $5.4 million on exploration across the Palvanen Project before Valkea regained 100% ownership of the project in late 2024. Exploration activities included the acquisition of project-wide, high-resolution geophysical data which focused the collection of over 4,900 base of till samples. These data generated 15 target areas considered prospective for gold mineralization, resulting in over 8,000 metres of diamond drilling. The top-ranked Piekka target is centered approximately 5 km southwest of Agnico Eagle’s Kittila Mine.
Map of the Palvanen Project showing underlying geology, target areas and the location of work completed by Kinross. Abbreviations: BOT = Base of Till samples, DD = Diamond Drill holes.
Valkea is now compiling and assessing all of Kinross’ exploration data to determine whether to explore the Palvanen project independently or to seek a new partner to fund additional and warranted targeted drill programs. Valkea’s goal is to maximize the project’s potential while aligning with its broader exploration and development objectives in the Central Lapland Greenstone Belt (Figure 1).