Regulatory Uncertainty Clouds Ragnar Metals’ Uranium Prospects in Sweden
Ragnar Metals has identified multiple large conductive anomalies at its Viken Project in Sweden, reinforcing the potential for significant uranium, vanadium, and molybdenum mineralisation. These findings, derived from reprocessed VLF geophysics and historical drilling data, set the stage for targeted exploration.
- Reprocessed VLF data reveals three major conductive trends spanning 16 km
- Historical drilling confirms polymetallic mineralisation including uranium, vanadium, and molybdenum
- Viken South and Viken East anomalies coincide with significant drill intercepts
- Exploration licenses cover a large 62 sq km area with additional conductive anomalies
- Regulatory environment for uranium mining in Sweden remains under review
Reprocessed Geophysics Highlights New Opportunities
Ragnar Metals Limited (ASX: RAG) has announced compelling results from the reprocessing of Very Low Frequency (VLF) geophysical data over its recently granted Viken Project in Sweden. The analysis identified several extensive conductive anomalies that align closely with polymetallic mineralisation previously intersected in historical drilling campaigns.
Three principal conductive trends have been delineated: two approximately 5 kilometres long at Viken South and one about 6 kilometres at Viken East. These anomalies correspond with drillholes that returned significant uranium (U3O8), vanadium (V2O5), and molybdenum (Mo) grades, including intercepts such as 95.6 metres at 185 ppm U3O8 and 0.26% V2O5 at Viken South.
Polymetallic Potential Supported by Historical Drilling
The conductive trends are not isolated geophysical curiosities but are strongly supported by historical drilling data. For instance, drillhole MYR78002 at Viken South intersected nearly 96 metres of mineralisation with notable uranium and vanadium grades, while MYR78007 and NAK78004 also returned substantial polymetallic results. These intersections underscore the prospectivity of Ragnar’s 62 square kilometre landholding.
Importantly, the mineralisation is hosted within alum shales, a geological setting analogous to nearby deposits such as Viken and Häggån, which are known for their uranium-vanadium resources. This geological similarity enhances confidence in the exploration model and the potential scale of mineralisation.
Navigating Regulatory Landscape and Next Steps
While the company highlights uranium assay results alongside other energy metals, it clarifies that current Swedish environmental legislation prohibits new uranium exploration licenses granted after July 2018. However, a government inquiry initiated in early 2024 into the uranium mining ban introduces an element of regulatory uncertainty and potential future opportunity.
Ragnar plans to advance 3D geological modelling and apply additional electromagnetic survey techniques to refine the understanding of these conductive zones. These efforts aim to prioritise targets for follow-up drilling and further exploration, potentially unlocking significant value from this underexplored region.
Chairman Steve Formica emphasised the significance of these findings, noting the extensive conductive anomalies and their alignment with historical mineralisation as a strong foundation for the company’s next phase of exploration.
Bottom Line?
Ragnar Metals’ identification of extensive conductive trends at Viken positions the company at the forefront of Sweden’s evolving energy metals landscape, with exploration and regulatory developments to watch closely.
Questions in the middle?
- How will the Swedish government’s inquiry into uranium mining impact Ragnar’s project timeline and licensing?
- What are the planned timelines and budgets for the next phase of 3D modelling and electromagnetic surveys?
- Could further drilling confirm a resource that rivals nearby established uranium-vanadium deposits?
