Selvåg

~44+ Mt @ 25% Fe, 2.5% Ti and 0.15% V

61.254416, 5.243962

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Overview

Northern Norway hosts several interesting magnetite deposits along the shoreline. Historically they were not significant enough for further development, however with today’s growing demand for green steel and high-quality heavy media, Mineral Holding sees the potential in re-evaluating these resources. Most of the deposits have already been subject to detailed surface mapping, drilling programs and metallurgical testing, resulting in a wealth of publicly available data that is being reviewed.

Highlights

Selvåg

Estimated to contain ~44 Mt of ore averaging 25% Fe, 2.5% Ti, and 0.15% V.

Excellent infrastructure with ice-free fjords, good logistics, and a mining-friendly county with local demand for workplaces.
Probable continuation in depth, indicating an additional ~150 Mt of lower-grade ore.

The Sørreisa-field

Underexplored iron-phosphate field with ~12 Mt of ore averaging 23% total Fe (16% magnetic Fe) and 0.8% P.

12 drill holes historically conducted — 8 in Espenes and 4 in Kjerring. Mineralizations still remains open in depth.
Testwork produced high-grade concentrate of 72.43% Fe, 0.0048% P, and 0.14% SiO₂, suitable for pellet-feed applications.

Geological Setting

The Selvåg deposit lies within a Proterozoic layered gabbro–anorthosite intrusion of the Lofoten–Vesterålen igneous province in northern Norway. The mineralization occurs as titanomagnetite–ilmenite bands enriched in vanadium-bearing magnetite, formed through magmatic segregation during crystallization. The ore horizon is well-layered and likely continues at depth and along strike, indicating a large, persistent Fe–Ti–V system.

The Sørreisa-field hosts banded magnetite–apatite mineralization within metamorphosed Proterozoic iron formations. The Espenes and Kjerring zones contain layered magnetite-rich bands with significant magnetic Fe content, capable of producing high-grade, low-impurity concentrates suitable for pellet feed. In addition the region between Trømsø and Andørja (~100km) contain multiple magnetic anomalies that could potentially be identical to mineralizations at the Sørreisa-field.

Location and infrastructure

Selvåg is located in Bø Municipality, Nordland County, northern Norway. It lies adjacent to an active quarry producing gravel and aggregate from a nearby mountain. Since much of the Selvåg ore body extends beneath a mountain, developing access from this site could be advantageous for expanding the existing harbor facilities and waste disposal areas.

The deposits in the Sørreisa field are primarily situated in Dyrøy Municipality, with some occurrences in Sørreisa and Salangen municipality, both in Troms County, northern Norway. Several of these deposits were historically mined for high-quality magnetite, prized as “blacksmith-grade” iron ore, but do not have active mining today. This location also have good harbor possibilities and cheap hydroelectrical power for eventual production.

Mineralogy and Metallurgy

The Selvåg deposit is classified as a vanadiferous titanomagnetite (VTM) deposit, with titanomagnetite, ilmenite, and apatite as the main minerals of economic interest. Titanomagnetite constitutes around 82% of the opaque minerals, ilmenite about 12%, and sulfides (mainly pyrrhotite) the remaining 6%. The titanomagnetite averages 0.62% V₂O₅, while the ilmenite contains 2.2% MgO. Historical work and beneficiation tests indicate that the ore is best suited for use as a high-quality heavy-media product, with apatite and high-Mg ilmenite considered as potential by-products.

The Sørreisa field contains more favorable magnetite mineralization, where clean magnetite concentrates have historically been produced. The ore is fine-grained to semi-massive and contains about 23% Fe, of which roughly 16% is magnetite and the rest hematite and other iron minerals. Apatite occurs at 4–5%, corresponding to approximately 0.8% P, and may represent a valuable by-product of magnetite mining since the grains are clean and not intergrown with iron minerals.

Conducted and future work

The Selvåg deposit benefits from an extensive archive of historical geological data, providing a solid foundation for a modern evaluation. Mineral Holding has gathered and are relogging the historically available data to evaluate which new activities should be further conducted.

At the same time, we are engaging in close dialogue with local industrial partners and the municipal authorities to ensure strong cooperation, community alignment, and local support for the project’s next development phase.