EMX’s southern Norway gold projects consist of the Bleka and Vekselmyr projects located 120 km southwest and 150 km respectively south of Oslo. The Bleka project has outcropping gold mineralization in an underexplored greenstone belt. The Bleka Vein was discovered in 1990 and was mined from 1880-1916 and 1936-1940. Identified targets remain untested and include the Blengsdalen Vein, Bleka Mine, and the Espelid Vein-Swarm.
The Blengsdalen Vein is a unique vein swarm that outcrops lower in elevation. At the Bleka Mine, only 200m of the 3000m outcropping vein swarm has been explored. Additional targets remain along strike and down dip from existing workings and quartz-veins have not been systematically sampled or drill tested. The Espelid Vein-Swarm has 10 veins with thicknesses between 0.5 – 2m with an observed bismuth alteration halo on the surface.
The Vekselmyr project also has outcropping gold mineralization in an underexplored greenstone similar to Bleka.
The Vekselmyr project is hosted in a metamorphic package composed of amphibolite, migmatites and gneiss. Both nickel and gold mineral occurrences were located on the property. The property is an early-stage greenfields target with little to no known exploration.
In August 2020 EMX entered into an option agreement with Sienna Resources Inc. (“Sienna”) for the Bleka and Vekselmyr projects. Sienna will enter a two year option period to acquire 100% interest in the Projects by satisfying work commitments and making payments of cash and equity to EMX, with EMX retaining 3% net smelter returns (“NSR”) royalty interests upon Sienna’s earn-in. See Company news release dated August 27, 2020 for more details.