The Bleikvassli project located near the Norwegian city of Mo-i-Rana, and contain the historic Bleikvassli mine area, which saw production of lead, zinc and silver mineralization from 1914-1997*. The mine was one of the last metal mines to operate in Norway, and was closed only when flooded in the late 1990’s. The styles of mineralization at Bleikvassli have been the subject of debate, with some authors favoring a VMS origin for the deposit, while others have favored a sedimentary exhalative (“SEDEX”) model. In either case, the deposit consists of stratiform/stratibound lenses of lead-zinc-silver massive sulfide mineralization, which locally grades into more copper and gold-rich compositions. The lenses mined at Bleikvassli constitute a portion of an extensive zone of sulfide mineralization that extends well beyond the mine area, as indicated by historic exploration drilling and extensive surface mapping.
The Bleikvassli 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.
* Geological Survey of Norway Ore Database, Deposit Area 1832-012.
Note: The nearby mines and deposits in the region provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar mineralization.
* Geological Survey of Norway Ore Database, Deposit Area 1832-012. EMX has not performed sufficient work to verify the published assay data reported on this slide, and these data cannot be verified as being compliant with NI43-101 standards. These historically reported data should not be relied upon until they can be confirmed. However, the mineralization as reported in various public documents available online and from the NGU (Norwegian Geological Survey) is considered reliable and relevant.