The Meråker project is located near the Norwegian city of Trondheim, and contains multiple historic mines and prospects developed on trends of polymetallic VMS style mineralization. Copper was the chief product from many of the historic mines, but significant zinc mineralization is seen in the mine dumps and outcrops in the area. There are several parallel trends of mineralization within the project area, extending for nearly 30 kilometers along strike. Little modern exploration has taken place at Meråker.
The Meråker project has been sold in December of 2018 to OK2 Minerals Ltd., a Canadian company (TSX Venture: OK) for an equity interest equity in OK2, annual advance royalty (“AAR”) payments, and a 3% royalty which OK2 has the right within six years of the closing date, to buy down up to 1% of the royalty retained by EMX on any given project (leaving EMX with a 2% NSR royalty) by paying EMX $2,500,000 (see Company news release dated December 13, 2018). OK2 Minerals Ltd has changed its name to Norra Metals Corp, TSX-V: NORA, in February 2019.
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