Capella currently owns a 70% interest in Katajavaara and Aakenus JV, pursuant to the terms of the agreement signed with ASX-listed Cullen Resources Ltd (ASX: CUL) (“Cullen”) and announced by the Company on August 24, 2021.
Figure 1. Location of the Katajavaara-Aakenus project, as well as known gold-copper deposits and occurrences in the district. The Company’s first priority target areas are also indicated.
Picture 2. Drone equipment used for high resolution magnetic survey.
About the Katajavaara-Aakenus Project
The Katajavaara-Aakenus project covers a total area of 200 square kilometers and is located in the highly productive Central Lapland (“CLGB”) greenstone belt in the north Finland. The CLGB contains numerous occurrences of gold and base metals, with significant recent discoveries including Ikkari (Rupert Resources) and Aamurusko (Risti-Launi; Aurion Resources)1.
The Company will initially focus on five priority target areas for gold and/or copper (see also the Company’s press release dated December 7, 2021):
- potential extensions to Outokumpu Oy’s former Saattopora gold and copper mining operation, which is entirely surrounded by the Aakenus project;
- potential extensions of S2 Resources’ Aakenusvaarus gold project, which is bounded to the E by the Katajavaara project and to the W by Aakenus;
- the Killero copper-gold (“Cu-Au”) anomaly, where exceptional Cu-Au values were obtained from historic Base of Till (“BoT”) drilling by AngloAmerican but never followed by diamond drilling;
- the Riikonkoski-Lonnakko-Kangas group of copper occurrences located along the eastern boundary of the Aakenus Project;
- the Kittilan orogenic gold showing located in the southern part of the property.
The company’s projects also frame the S2 Resources-Kinross JV area in Home, where Kinross has the option to acquire a 70% interest in Home in exchange for an exploration investment of $9.5 million (see S2 Resources press release dated June 3, 2021).
1 References to nearby mines and similar deposits provide context for the Katajavaara-Aakenus Project but do not necessarily indicate that these projects contain similar tonnages or grades of mineralization.
Qualified Persons and Disclosure Statement
The technical information contained in this news release regarding the Katajavaara-Aakenus Gold-Copper Project has been prepared in accordance with the Canadian regulatory requirements set forth in NI 43-101 and approved by Eric Roth, President and Chief Executive Officer of the Company, Director and Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in economic geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has 30 years of experience in international mineral exploration and the evaluation of mining projects.
On behalf of the Board of Directors of Capella Minerals Ltd.
Eric RothPh.D., FAusIMM
President and CEO
About Capella Minerals Ltd
Capella is engaged in the acquisition, exploration and development of quality mineral resource properties in favorable jurisdictions, with an emphasis on high-grade gold and copper deposits. The company is currently focused on finding high-grade VMS-type deposits in 100% owned land positions district-wide around the former Løkken and Kjøli copper mines in central Norway. The Company’s precious metals is focused on the discovery of high-grade gold deposits at its newly acquired Finnish project (Katajavaara-Aakenus), the 100% owned Southern Gold Line project in Swedenand its active Canadian joint ventures with Ethos Gold Corp. (TSXV-ECC) to Savant lake ontario) and Yamana Gold Inc. at Domain (Manitoba). The Company also retains a residual interest (subject to a call option with Austral Gold Ltd) in the Sierra Blanca gold-silver disposal in santa cruz, Argentina.
The Company also owns 3,000,000 common shares of Ethos Gold Corp., providing Capella shareholders with indirect exposure to exploration success both at the Savant Lake project and elsewhere in Capella’s extensive portfolio of Canadian projects. Ethos.
Cautionary Notes and Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information is generally identified by words such as: believe, expect, anticipate, intend, estimate, assume and similar expressions, or are those which by their nature refer to future events. . These statements include, but are not limited to, statements regarding the future operating results, performance and achievements of Capella, including the timing, completion and results of the exploration and drilling programs described in this communicated. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyzes made by Capella in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management deems appropriate in the circumstances. Such information is, however, subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from such forward-looking information include those described under “Risks and Uncertainties” in Capella’s most recently filed MD&A. Capella does not intend and expressly disclaims any obligation to update or revise the forward-looking information contained in this press release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCECapella Minerals Limited