District Metals (DMX.V) has applied for eight additional mineral licenses covering a total area of in excess of 90,000 hectares targeting Alum Shale deposits (the same time of deposits as its 100% owned Viken Energy Metals deposit elsewhere in Sweden). The alum shale deposits in Sweden typically contain the energy and battery metals that are highly sought after these days. The Viken deposit, for instance, contains uranium, nickel, copper and zinc and although the uranium moratorium remains in full effect in Sweden, there recently has been some movement in the political stance on the moratorium.
The government has now officially initiated an enquiry to remove the moratorium which would be great news for District Metals as the Viken project contains approximately 1.15 billion pounds of uranium in the 2014 historical resource estimate. By staking additional alum share projects and properties, District Metals is taking advantage of its geological knowledge and the changing political winds in Sweden to become one of the country’s largest uranium companies.
Disclosure: The author has a long position in District Metals. District is a sponsor of the website. Please read the disclaimer.
