Hessjogruva Drill Permits Approved
Capella is pleased to advise that it has received the key approvals required for initiating diamond drilling at the Hessjogruva Cu-rich massive sulfide ('VMS') Project on or after
The Hessjogruva permitting was based on the completion of a minimum of 3,000m / 6 holes of both infill and step-out drilling on the high-grade Hessjogruva Lens A deposit, one of three main copper mineralized lenses on the property. The upcoming drill program has been designed to assist the Company with its goal of completing a maiden NI 43-101 compliant Mineral Resource Estimate for Hessjogruva, in addition to providing fresh core for metallurgical testwork and baseline data for initial development studies.
Kjoli Scout Drill Program
Capella completed an initial 1,412m / 8 hole diamond drill program at the Kjoli Cu-Zn-Co VMS project. The eight scout holes were targeted on combined geological and geophysical (electromagnetic and gravimetric) anomalies - considered favourable for the discovery of massive sulfide-type mineralization - in the Guldalsgruva/Rorosmenna area (4 holes), the Kjoli East/Rundhaugen area (2 holes), and the 2km-long Kjoli Deeps target (2 holes, although KJ-008 is a redrill of hole KJ-001 which missed the target due to excessive deviation).
Copper and zinc assays have now been received for drill holes KJ-001 to KJ-007; assays for drill hole KJ-008 (the redrill of KJ-001) at Kjoli Deeps are pending. Locations of completed drill holes and significant intervals returned are indicated below
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
The Company is also exploring the Northern Finland Gold-Copper (NFGC) project in the Central Lapland Greenstone Belt, together with JV partner
Capella 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.
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