EMX’s Kjøli project is located in the historic Røros mining district in southern Norway. The Kjøli Project represents an extensive trend of VMS-type occurrences and historic mines. Kjøli is positioned along the northern extension of the belt of VMS deposits in Norway that comprise the greater Røros district, which has seen mining for over 300 years, beginning in the mid-1600’s. The Kjøli project contains the Killingdal mine, which operated from 1677-1986, and produced 2.96 million tonnes averaging 1.7% copper, 5.5% zinc, and 0.4% lead*. Recent airborne geophysical surveys identified numerous exploration targets on the Kjøli project that have not yet been followed up.
In August 2020 EMX announced the execution of an option agreement for Løkken project with New Dimension Resources (renamed to Capella Minerals TSX-V: CMIL, FRA: N7D2)(“CAP”) which provides EMX with up to a 9.9% equity interest in CAP, annual advance royalty payments, 2.5% Net Smelter Returns (“NSR”) royalty interests in the Projects and other considerations. See Company news release dated August 11, 2020 for more information.
*Historic production figures are from Birkeland, A. (1986) Mineralogisk og geokjemisk undersokelseav Killingdal gruver, Sor-Trondelag. M. Scient. Thesis, University of Oslo in Geological Survey of Finland, Special Paper 53 pg. 86.
Note: The nearby mines and deposits mentioned above provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization.