EMX’s Vakkerlien project is located in the historic Røros mining district in southern Norway and consists of four historic mining areas in a consolidated land position. Portions of the Røros District saw production through the 1970’s. Mineralized rocks consist of cigar shaped mafic metagabbros and amphibolites mineralized with chalcopyrite, pyrrhotite and pentlandite as well as mineralized structures surrounded by calcareous quartz mica schists.
Mineralization is thought to be thickened along fold hinges and occurs in mafic intrusive rocks associated with granodiorite intrusives. Further studies indicate the presence of untested mafic intrusive rocks allegorical to the mineralized units identified. There are historic Ni-Cu-Zn-Co mines and prospects on EMX land position. An unpublished non-compliant 43-101 compliant resource exists on the project.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 Vakkerlien nickel-copper-cobalt 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 Vakkerlien.
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.