EMX’s Røstvangen project is located in the historic Røros mining district in southern Norway and consists of several historic mining areas in a consolidated land position. Portions of the Røros District saw production through the 1970’s.
Mineralization is thought to be thickened and enriched along fold hinges and is associated with greenstones. Further studies indicate the presence of untested mafic sequences similar to the mineralized units identified. There are several historic Cu-Co-Zn mines and prospects within the EMX land position. An unpublished non-compliant historic resource exists on the project. In early 2019 EMX has entered into an option agreement with Playfair Mining Ltd. (“Playfair”) (TSX Venture: PLY) for the Røstvangen VMS project. The Agreement provides EMX with immediate share equity in Playfair, and upon Playfair’s completion of the option terms and other consideration, a 9.9% interest in Playfair, a 3% net smelter return (“NSR”) royalty on the Project, and advance royalty payments (see Company news release dated March 4, 2019).
EMX believes that application of modern and updated mineral deposit models and new exploration technologies will likely result in new discoveries at Røstvangen.
Note: The nearby mines and deposits in the region 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.
**EMX has not performed sufficient work to verify the published geochemical, drill and resource data. However, the values in various documents available from the NGU (Norwegian Geological Survey) are considered reliable and relevant.