The Vopnafjordur licence covers an area of 598,5 km2 and was last subject to exploration in 1997. Exploration to date has been limited to low-density stream sediment and rock chip sampling and this was extended in 2016 by a mapping and grab sampling exercise over the key areas of interest identified in the earlier survey.
The Oxnadalur licence is a 1017 km2 area is located in the north of Iceland near the town of Akureyri. Peaks in the region reach 1538m above sea level, and there are few significant tracks throughout the majority of the prospect. Due to its northern location, it is more subject to seasonality with respect to the exploration seasons.
Thormodsdalur is located about 20km E of the city center of Reykjavík, SE of the lake Hafravatn. The project has a long history dating from 1908, where a local lawyer, a businessman and the poet Einar Benediktsson found a gold deposit that was investigated in the years 1908-1925. In 1911 with the help of a British company and again after the first World War with the help of a German company, they dug four tunnels and did surface excavations that covered over 400m underground. Some ore was transported to Germany and historical sources reveal that reported gold values were 11-315g/t Au.