Valeka Resources reported that Kinross Gold has chosen not to proceed to the second stage of an earn-in agreement for the Palvanen project, thereby returning 100% ownership of the project. Since 2021, Kinross conducted property-wide geophysics, collected over 4900 base of till samples, and drilled over 8000m at the project. The company notes that it is currently compiling all of Kinross’ exploration data to determine the best strategy to advance the project. Notably, by dropping out of the Palvanen project, Kinross also loses its first right of refusal on the company’s flagship Paana project which includes the Aarnivalkea discovery.
Palvanen project geology map showing the work completed to date (Source: www.outbackgoldfields.com)
