Medaro Announces Staking in Sweden's Riddarhyttan-Bastnäs District

Core Viewpoint - Medaro Mining Corp. has staked approximately 1,130 hectares of mineral tenure in central Sweden, targeting a region known for its historical mining and mineral occurrences, particularly for iron-oxide copper-gold (IOCG), volcanogenic massive sulfide (VMS), and rare earth element (REE) mineralization [1][2]. Property Location and Tenure - The staking package includes two exploration permit applications totaling 1,131 hectares, which are currently pending approval. Two other parties have submitted overlapping applications for the same area, which is allowed under Swedish mining law [4][5]. - The staking was completed following Swedish mineral tenure procedures, and the company will provide updates on the tenure status as information becomes available [5]. Regional Context and Historical Significance - The Riddarhyttan-Bastnäs area has a long history of mining, with the first copper production recorded in 1633 and a total of 6,545 tons of copper produced by 1873. The area has also historically produced iron ore, cobalt, and REE, including approximately 160 tons of REE ore from the Nya Bastnäs deposit between 1860 and 1919 [6]. - Previous exploration activities in the district have included drilling, prospect-scale sampling, mapping, and geophysical investigations, indicating the potential for modern exploration techniques to refine and prioritize targets for mineralization [7]. Multi-Commodity Potential - The property is considered prospective for multiple commodities, including copper, gold, base metals, and REEs, based on the regional geological setting and historical mining activity [9]. - The Riddarhyttan-Bastnäs district is recognized for its REE-bearing minerals, particularly cerium-rich minerals hosted in cerite, bastnäsite, and allanite-group minerals [9]. Exploration Strategy - The company plans to integrate geoscience datasets with mapping, prospecting, and geochemical sampling to generate and rank exploration targets [9]. - The property benefits from good access and infrastructure, which may support cost-effective exploration programs [9]. Company Overview - Medaro is focused on acquiring and advancing high-quality mineral projects in Ontario, Quebec, and Sweden, aiming to build shareholder value through systematic exploration and responsible development [11].