The Bastuträsk project is located in the highly productive and prospective Skellefteå mineral belt in northern Sweden. VMS style sulfide mineralization was discovered at Bastuträsk by Boliden AB in the 1960’s, and was drilled intermittently in various programs through the early 2000’s. The mineralization is hosted by a folded sequence of volcanic and volcanoclastic sedimentary rocks. The mineralization does not outcrop in the area, and is only known through drilling and as projected from geophysical data. Drill defined zones of mineralization are developed over an area of several kilometers near the apparent nose of a prominent fold hinge.
The Bastuträsk project was sold in December 2018 to OK2 Minerals Ltd., (TSX Venture: OK) for an equity interest equity in OK2, annual advance royalty (“AAR”) payments, and a retained 3% royalty interest, OK2 has the right within six years of the closing date, to buy down up to 1% of the royalty retained by EMX (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