EMX’s Mjövattnet and Njuggträskliden projects are located in northern Sweden’s southwest of Skellefteå. Mineralization is comprised of massive sulfides enriched in nickel, copper, and cobalt, with both properties hosting historic resources*. As well, the properties have gold and platinum group element (PGE) exploration potential. In early 2018 a purchase agreement for the Mjövattnet & Njuggträskliden properties has been executed with Boreal Energy Metals Corporation (BEMC), a newly created and wholly owned subsidiary of Boreal Metals Corporation. The agreement provides EMX with immediate share equity in BEMC, a 3% NSR royalty on the Projects, and annual advance royalty payments (see EMX news release dated April 11, 2018).
Both projects host drill defined mineralization in targets that remain open at depth and along strike. Given the limited shallow historic drilling (i.e., generally drilling <150 m) and untested targets at depth and along strike, EMX believes that there is high potential for new discoveries at the Mjövattnet and Njuggträskliden properties.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar mineralization.
*EMX has not performed sufficient work to verify the published drill data and historic resource estimates. However, the drill-delineated mineralization as reported in various documents available from the SGU (Swedish Geological Survey) is considered relevant.