Gumsberg

The Gumsberg project is located in the historic Bergslagen mining district. EMX acquired Gumsberg because of its significant historic production, apparent lack of modern exploration and drilling, and for its high-grade styles of mineralization that had not been fully appreciated. 

EMX believes the styles of mineralization at Gumsberg are analogous to Boliden’s Garpenberg mine and the historic Falun mine. Deformed and steeply dipping, VMS and CRD mineralization occurs along two trends, and field evidence and comparisons with Bergslagen District analogues suggest mineralization may extend to unknown depths. 

EMX’s 2016 reconnaissance diamond drilling (5 holes, 432.8m) yielded shallow high-grade intercepts of Pb-Zn-Ag mineralization in 4 holes along the > 2 kilometers long Vallberget-Loberget trend of historic mines. 

In late 2016, a definitive agreement was executed with Norden Crown Metals Corp. (NOCR) which provided for the sale of EMX’s Gumsberg project along with other exploration projects in the Company’s Scandinavia portfolio. Upon closing, EMX will hold a 19.9% equity ownership in NOCR plus an uncapped 3% NSR on the property. See Company news release dated November 22, 2016 for more details.

Drilling completed in March 2021 by Norden Crown Metals Corp. resulted in a discovery at the Fredriksson Gruva prospect where they intersected high grade and significant widths of ‘Broken Hill’ type mineralization. Intersections include 10.35m of 5.24% Zn, 1.84% Pb, 43.86 g/t Ag. See NOCR News Release dated March 1, 2021. 

See EMX news release dated September 8, 2016 for a description of the QA/QC procedures, sampling methodologies, and other exploration results for the Gumsberg project. 

Note: The nearby mines and deposits in the region provide geologic context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar mineralization.

Maps

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Disclaimer:

¹ Grade-Tonnage information obtained from Mineral deposits and metallogeny of Fennoscandia, Geological Survey paper of Finland, Special Paper 53. Pasi Eilu Editor. 401 p. 2012.

² Garpenberg has a PERC Standard proven resource of 17.2 Mt @ 98 g/t Ag, 0.25 g/t Au, 0.04% Cu, 1.3% Pb, and 3.0% Zn and a probable resource of 83.7 Mt @ 88 g/t Ag, 0.31 g/t Au, 0.05% Cu, 1.2% Pb, and 2.5% Zn (Boliden 2023 Annual Report: https://investors.boliden.com/en/investor-relations/reports-and-presentations/financial-reports)

The Garpenberg PERC compliant mineral reserves and resources were reported by Boliden AB, a publicly traded Swedish company (TS:BOL), in its 2023 Annual Report. The mineral reserves and resources were reviewed and approved by Gunnar Agmalm, Boliden’s Ore Reserves and Project Evaluation Manager, and a PERC “Competent Person”. The mineral reserves for Garpenberg provide regional geologic context for EMX’s Project, but this is not necessarily indicative of the mineralization on the Project.

Photos

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