Medaro Mining Reports High-Grade Rare Earths and Copper in Sweden

Medaro Mining Corp. disclosed assay results from its Bastnäs project in the Bergslagen Mining District of Sweden. The company analyzed 218 rock chip samples collected from waste dumps and outcrops during the summer of 2026. These samples recorded total rare earth oxides (TREO) ranging from 9.7% to 33%. The mineralization also included polymetallic elements such as gold, copper, silver, gallium, and tungsten.

A specific sample identified as BS39b returned the highest concentration of 32.99% TREO. This specimen was collected from magnesium-iron-calcium enriched skarn rock at the historic Cerite Shaft. The assay indicated that 99.6% of the TREO consisted of light rare earth oxides, primarily cerium and lanthanum. The sample also contained 0.37% yttrium oxide and 1.75% fluorine.

Polymetallic Grades Exceed Industry Benchmarks

The sampling program highlighted the diversity of critical metals present at the site. Selective samples returned up to 16.5 grams per tonne of gold and 23.7% copper. Additional assays detected 260.1 grams per tonne of gallium oxide, 0.31% tungsten, and 0.34% cobalt. Twenty-two of the total samples exceeded 1.0% TREO, with nine samples surpassing the 10% threshold.

Nine samples from waste rock dumps near the Old Bastnäs mines and one from the Stålklockan workings contained both copper sulphide and gold mineralization with TREO levels above 10%. These findings suggest a complex mineralized system rather than isolated rare earth occurrences. The company noted that such polymetallic assemblages are significant for potential processing efficiency and value realization.

Exploration Targets Defined for Late 2026

Medaro Mining plans to advance exploration efforts in the latter part of 2026. The company will conduct mineralogical work and core drilling to evaluate the depth and continuity of the mineralization. A high-resolution drone magnetic survey flown during the summer supported the identification of these targets. The focus is now on verifying the in-situ nature of the high-grade samples.

Management emphasized that rock-chip samples are selective and may not represent the underlying geology. The original geological context of material from historical waste dumps is unknown. The results do not yet demonstrate mineralized widths or economically recoverable reserves. Mark Carruthers, President and CEO, stated that the data provides a strong foundation for systematic follow-up.

Historical Context and Data Limitations

The Bastnäs project is located in a region with a long history of mining activity. The samples came from areas associated with historic operations, including the Cerite Shaft. However, the company cautioned that these assays are preliminary. The data does not confirm the economic viability of the deposit. Further drilling is required to establish the scale and grade of the mineralization in the ground.