The Skellefte Gold portfolio consists of two projects: Åkerberg and Rismyrliden. The projects are located at the eastern end of the prolific Skellefte Mining, a Paleoproterozoic greenstone belt primarily known for volcanogenic massive sulfide deposits containing high gold values. Mineralization at EMX’s Skellefte Gold projects is thought to resemble that at Mandalay Resources’ Björkdal Mine.
Mineralization at Åkerberg is found in quartz veins associated with minor sulfide minerals like pyrite, pyrrhotite, and chalcopyrite. There is also a close relationship between gold and scheelite and bismuth telluride. This represents a potential pathfinder to target during early exploration.
In Q1 2023 EMX sold the projects to Copperhead Mineral AB (“Copperhead”), an unlisted public company in Sweden for a 9.9% equity interest in Copperhead, annual advance royalty payments, 2.5% Net Smelter Return (“NSR”) royalty interests, work commitments, and other considerations.
Note: Historic production values quoted above are from the Swedish Government Database. EMX has not performed sufficient work to verify the published data reported above, but EMX believes this information is considered reliable and relevant. 1) Geological Survey of Finland, Special Paper 53 pg. 199. 2) https://www.mandalayresources.com/wp-content/uploads/2019/01/Mandalay-Bjorkdal-NI-43-101-Report-FINAL-Mar-28-2019.pdf
Note: The Björkdal and Norrberget NI 43-101 mineral reserves and resources were reported by Mandalay Resources, a publicly traded Canadian company (TSX:MND), in the Technical Report on the Bjorkdal Gold Mine, Sweden, March 28, 2019. The mineral reserves and resources were reviewed and approved by Qualified Person Reno Pressacco, M.Sc.(A), P.Geo
Note: The nearby mines and deposits mentioned above 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