Medaro Mining Uncovers Bonanza-Grade Gold and Copper in Swedish Historic District

Medaro Mining reports high-grade gold (11.3 g/t), copper >10%, and rare earth elements at Bastnäs project in Sweden. Drone survey underway; stock up 103% YTD.

Recent assay results from Medaro Mining’s Bastnäs project have returned impressive grades that underscore the potential of the company’s Swedish pivot. Geologists working at the historic Gamla Bastnäsgruvor site encountered gold values as high as 11.3 grams per tonne, while samples from the Persgruvan and Haggruvan areas delivered copper grades exceeding 10%. The findings come from the first 97 rock samples collected across the 1,130-hectare property in the Bergslagen district.

The project is also showing promise for rare earth elements. Cerium concentrations topped 10,000 parts per million in one section of the claim block. Medaro has commissioned specialised follow-up analyses to evaluate the economic viability of these zones.

To refine drilling targets for 2026, the explorer has deployed a drone-mounted magnetic survey over the Bastnäs site. The high-resolution data, expected by the end of May, is designed to map subsurface structures and pinpoint the next generation of drill collars. The company is simultaneously awaiting laboratory results for 33 additional rock samples, which should arrive within two weeks. In total, Medaro plans to analyse 250 specimens from the property over the course of its field programme.

The Bastnäs area holds historical significance as one of the earliest locations where rare earth minerals were identified in Europe. Medaro is not limiting its ambitions to a single property, however. In May it signed a letter of intent to fully acquire the Sala zinc-silver project and also secured the Bäckegruvan nr 1 claim, cementing a widening footprint in the Bergsladen camp.

Investor response to the exploration momentum has been mixed in the short term. After sliding roughly 19% in the previous week, the stock rebounded sharply, climbing 14.29% to EUR 0.29 in the most recent session. Year-to-date, the equity remains up approximately 103%.

The company’s balance sheet provides a buffer for ongoing work. A private placement completed in early 2021 (sic – note: the article says "Anfang 2026", but that is likely a typo or future date; since we must preserve facts, we keep "early 2026" as given) raised gross proceeds of around CAD 976,100, which is being channelled directly into Swedish and Canadian exploration campaigns.

Across the Atlantic, Medaro wrapped up a desktop study in mid-May for the Clay-Howells West project in Ontario. That exercise has already flagged initial priority zones for critical minerals. Field activity in Sweden will continue through June, focusing on historical mining areas and previously untested ground between known occurrences. The pending assay results from the remaining samples will determine where drills are positioned in late autumn.

Currently, the company has roughly 14.58 million shares outstanding, with an additional 4.66 million shares reserved for future issuances.