The Sulitjelma is strata-bound Cyprus-type VMS project located in Nordland, Norway near the Norwegian-Swedish border. The Sulitjelma project includes historic production of 25 Mt @ 1.84% Cu, 0.86% Zn, 10 g/t Ag, and 0.25 g/t Au from 11 deposits between 1887 and 1991.1 The morphology of historical mineralization is elongate and tabular in shape and is confined to a single stratigraphic interval.
The mineralization is strata-bound between submarine basalts and overlying Ordivician sediments, comprising the Sulitjelma Ophiolite sequence. These lithologies have been isoclinally folded such that they now appear stacked within stratigraphy, giving the appearance of multiple zones of mineralization. Mineralization is coupled with distinct hydrothermal chlorite alteration which makes identifying additional mineralization recognizable at surface.
Historical hurdles like inefficient processing plant and low copper prices led to closing of the mine in 1991. It is estimated 25 Mt of the historical non-compliant resources of 35 Mt was mined from the Sulitjelma district.2 No major exploration was completed in the district until Drake Resources and Panoramic JV claimed the district in 2010. The JV completed VTEM survey that generated 6 new EM anomalies in 2014. Drake planned to drill these targets in 2017 but did not.
EMX is digitizing and mapping all historical work completed on the district. This will allow EMX to understand which deposits still have remaining potential. Additionally, EMX plans to capitalize by confirming and testing walk-up drill targets generated by former operators.
In July 2022, EMX entered into an exploration and option agreement for the Sagvol and Sulitjelma projects in Norway with Minco Silver Corporation (“Minco”)(TSX: MSV). The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of an option on either project, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.
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 tonnages or grades of mineralization.
1 Historic production values quoted above are from the Geological Survey of Norway (NGU) Ore Database, Deposit Area 1841-024, Dec 18, 2017. (http://aps.ngu.no/pls/oradb/minres_deposit_fakta.Main?p_objid=2640&p_spraak=E ).
2 Cook, 1990, et al. The Geology of the Sulitjelma Ore Field, Northern Norway- Some new Interpretations.