CAPELLA MINERALS LIMITED Highlights
Capella's recent exploration activities have been focused on advancing the five priority satellite targets that surround the former Lokken copper mining operations, with the main focus being the highly prospective Lokken-Hoydal-Amot corridor (Figure 1).
Field programs included systematic ground magnetic surveys and a soil geochemical (ionic leach) survey in which 987 samples were taken (with only partial results received to date).
Capella's Amot target is now drill-ready and consists of an undrilled 1.5km-long coincident magnetic and electromagnetic ('VTEM') anomaly with elevated soil copper-cobalt values. Initial permits for a scout drill program have been issued.
Evaluation of historic drill data from around the former Hoydal open-pit is also ongoing.
We also continue to see solid exploration results coming out of the four remaining target areas, and a compilation of historical drill data for the old Hoydal copper mine is also underway. I look forward to keeping the market updated on progress at the Lokken project'.
Lokken - Hoydal - Amot Corridor
High-grade copper mineralization at the former Lokken mine is hosted by a sequence of Ordovician-age metabasalts (mixed pillow and massive basalts) within an overturned ophiolite sequence. The main prospective horizon for VMS-style mineralization is interpreted to extend eastward from the former Lokken mine through the old Hoydal open-pit (from which small-scale copper-zinc mining was reportedly undertaken until 1911) and to the Amot target (Figure 3).
At Hoydal, Capella completed a systematic ground magnetic survey and a soil geochemical ('IL') grid (for which results are currently pending; Figure 2) designed to identify potential extensions to the known mineralization at Hoydal. A detailed review of historical drilling1,2 around the old Hoydal open-pit, which appears to have been focused on approximately 750m strike length of an interpreted VMS feeder zone, is also in progress.
Historical results have not been independently verified by the Company. A potential investor should not place undue reliance on these historical drill results when making an investment decision, nor should they be used as the sole criterion for making investment decisions. There is no assurance that the Company can reproduce such results, or that the historic results described herein will be realized.
2 The 3D model shown in Figure 2 was generated using LeapfrogTM software using a copper cut-off grade of 1% and with the explicit purpose of understanding the geological context of the historic Hoydal mineralization with respect to the newly defined surface geophysical and geochemical anomalies. The historic mineralization envelope does not constitute a mineral resource estimate and the Company is not treating the historic mineralization as a current resource.
Capella's Amot target lies approximately 0.5km S of the former Amot copper-zinc mine and is characterized by a coincident ground magnetic and VTEM anomaly with a strike length of 1.5km (Figure 3). The Amot geophysical target has yet to be drill tested and is interpreted by the Company to lie around 150m below surface (hence is a buried target with no surface exposure). Initial permits for a winter drill program have been obtained for Amot, however, it is currently expected that scout drilling will first be undertaken at the Kjoli project before returning to Lokken.
About
Capella is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on European base and battery metals projects.
In
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The Company also retains exposure to exploration success in precious metals projects through its active
Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Capella, including the timing, completion of and results from the exploration and drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Capella in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is 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 this forward-looking information include those described under the heading '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 news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Contact:
Email: info@capellaminerals.com
T: +1.604.314.2662
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