Nordli porphyry-molybdenum deposit – Hurdal, Norway

The Hurdal project is the largest molybdenite deposit in Europe and Crew views it as a strategic asset that will assist in accelerating the building of Crew Minerals ASA into an independent company.

In early 2005 Crew Minerals AS was granted the exclusive title for the porphyry-molybdenite properties located in the Oslo region, Norway – the Hurdal and Skrukkelia projects.

The Hurdal project is the largest molybdenite deposit in Europe and the Corporation views it as a strategic asset that will assist in accelerating the building of Crew Minerals ASA into an independent company.

Location and geology
The Nordli (Hurdal) molybdenum deposit is located approximately 90 kilometers north of Oslo in the municipality of Hurdal. The deposit bears a striking similarity to the Climax and Henderson molybdenum deposits in the United States.

The deposit was first discovered in 1979 by Norsk Hydro but was abandoned three years later because of the low molybdenum prices at the time. It is a typical molybdenum-porphyry deposit, with mineralization having occurred during a sequence of sub-volcanic intrusive events, with quartz in veinlets and fissures cutting alkaline granitic rocks.

Work completed
3,960 meters of core drilling from five holes were completed in fiscal year 2006 and over 504 new analyses prepared. The first drill hole returned encouraging values from 408 m of drilled length, with an average of 0.11% MoS2, while the second drill hole intercepted 185 m with 0.08% MoS2 (including 70 m with 0.12% MoS2). These grades were not as high as expected from the proposed model and the third hole showed a significant drop in grade, indicating limits to the structure in this direction. The fourth and fifth holes are still being assayed.

The Corporation held meetings with the municipal representatives of Hurdal in 2005 with the participation of the Norwegian Mining Director, who explained mining legislation and procedures for mining projects. The political leaders expressed strong support for the project and the potential for industrial development in the municipality. A public hearing was held in Hurdal in October 2005, where management presented the project and the immediate work program.

Development of and demand for molybdenum
Molybdenum’s development parallels that of nickel, and the demand for the metal is also strongly associated with the consumption in the stainless and specialty steel sectors. One percent Mo is equivalent to 3% Chrome (Cr) in steel alloys, and stainless construction-steel types may contain 2-3% Mo.

Unlike most othert heavy metals, Mo has a low toxicity which makes it increasingly attractive as a component or substitiute in a range of other metal alloys and non-metallurgical compounds.