Proactiveinvestors recommends

Red Sky Energy sees upside potential as New South Wales decision on Talma CSG pilot draws near
Xceed Resources: Cash backed and developing coal production and cash flows from Moabsvelden
Oro Verde on the exploration trail of gold and copper in Chile, commences trading today

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	SCR
Latest Price:	0.25 (0.00%)
52-week High:	0.65
52-week Low:	0.20
Market Cap:	14.44M

1 year chart

1 day chart

Scandinavian Resources

Scandinavian Resources' (ASX:SCR) strategy is to ‘incubate’ a highly prospective portfolio of iron, gold, PGE and base metals projects in Scandinavia, primarily in Sweden and Norway.

The company is one of the largest landholders (by area) of minerals exploration projects in Sweden and one of the largest landholders in the world class Kiruna IOCG District.

Scandinavian Resources sees significant copper potential at Daningen

Monday, July 26, 2010

Scandinavian Resources (ASX: SCR) has received multiple high-grade copper assays from rock chip sampling at its 100% owned Daningen Project located 50km southwest of Tärnaby, in the Swedish Caledonides mountains, which hosts multiple base metal mineral deposits and mines.

The high-grade assays from in-situ (i.e. not boulder) rock chip sampling include 4.95% copper, 6.55% copper, 4.99% copper, 2.26% copper, and 7.13% copper. Mineralised samples are co-incident with an historic EM anomaly identified in 1950.

Scandinavian Resources are to complete a modern EM survey this Quarter to better refine bedrock targets for future diamond drill testing.

The mineralised samples were collected by prospector Kjell Stenmark and are co-incident with a discrete historic electromagnetic (EM) anomaly.

Amanda Arrowsmith, exploration manager said, “it’s very exciting to have these high grade copper assays and now having put them into context with the historical EM surveys I think the project has significant potential."

"I aim to visit the project this Quarter and co-ordinate a modern EM survey over the areas of interest as soon as possible. The aim of the survey will be to generate diamond drill targets for the next field season," Arrowsmith added.

A second discrete EM anomaly has also been identified within the historic data and is located within the eastern portion of the Project. Anomalous zinc up to 1.26% has also been reported from one of the rock chips.

The Daningen project is one of a number of projects within Scandinavian Resources’ ‘Project Pipeline’ that it aims to develop into ‘Primary Project’ status as soon as possible and reinforces the merits of the company’s incubation strategy.

Field validation of the historic EM anomalies is scheduled for August 2010 and a modern EM survey will follow soon thereafter to further define both anomalies.

Whilst copper mineralisation within the project area has been known about since 1939 when minor costeaning was completed, no drilling has ever occurred.

Scandinavian Resources said the exploration activities to be completed during the next twelve months will aim to establish whether the Daningen Project has the potential to host an economic copper deposit.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.