EMX acquired the Viscaria copper-iron royalty, as well as other assets, from Freeport-McMoRan Exploration Corporation in 2010. EMX has a 1% NSR royalty on Viscaria production and initially will pay half of the royalties, up to a maximum of US$12 million, to Outokumpu Oyj. This yields an effective 0.5% NSR royalty until the payment cap is reached, at which point EMX will retain a full 1% NSR royalty payment.
The Viscaria copper-iron project occurs in the world-class Kiruna IOCG mining district, and is situated within two kilometers of LKAB’s Kirunvaara iron mine. Mineralization occurs as three north-northeast trending stacked horizons containing copper (the A and B zones) and iron (D zone) that are hosted in Precambrian rocks of the Kiruna Greenstone Group.
Historic production from the deposit includes 12.5Mt at 2.3% Cu from `983 until 1997. Viscaria is currently being advanced by Copperstone Resources AB (NASDAQ: OMX First North), and has an updated mineral resource estimate and scoping study that outlines the project’s development upside. Copperstone has also identified new exploration targets for follow-up where mineralization is open at depth and along strike.
The resources at Viscaria are 58.97 Mt at 1.20% Cu and 28.44% Fe. An updated resource is expected 2021/2022.
Copperstone has released a PERC 2017 compliant Mineral Resource Estimates in November 2020. The resources stated are from the PERC compliant Mineral Resource Inventory Report – Viscaria D Zone November 2020 and resources were reported by Copperstone Resources AB, a publicly traded Swedish company (NASDAQ:COPP B). The mineral reserves and resources were reviewed and approved by Responsible Competent Person Jari Juurela is a full-time employee of Copperstone Resources. He is a Member of AusIMM which is a Recognized Professional Organization (RPO) of PERC. For a copy of this report please visit https://www.copperstone.se
EMX has not done sufficient work to classify the resources as compliant with NI 43-101 regulation. However, EMX believes these results to be reliable and relevant.Note: The nearby mines and deposits mentioned above 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
Note: The nearby mines and deposits mentioned above 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