EMX’s Northern Sweden Nickel project is comprised of the Kukasjärvi, Skogsträsk, Notträsk, and Fiskelträsk projects. These projects are in a belt of mafic intrusion across northern Scandinavia that projects into northern Sweden. The Voustak project lies on the extension to main Nickel Line in the Skellefteå District.
The Kukasjärvi discovery was made by Boliden during the 1970s with boulder exploration, geological mapping, geophysical measurements, and mapping. The geology consists of metamorphosed ultramafic intrusions into graphite and sulfide-bearing Karleian metasediments.
Explored by SGU in the 1970s and more recently by Boss Resources and Subiaco AB, the Skogsträsk project is a magmatic sulfide deposit with recent (2014) drilling intercepting disseminated, net-textured, and massive sulfide styles of nickel-rich mineralization. Nickel mineralization at Notträsk was also first discovered in the 1970s near the southern margin of the Notträsk gabbro with the discovery of 80 m of breccia, matrix and massive nickel and copper sulfides (pyrrhotite, pentlandite, chalcopyrite).
The Fiskelträsk project has low-grade, disseminated styles of Ni-Cu mineralization in gabbros related to the Haparanda Group with similar styles of mineralization found in the surrounding areas such as Notträsk.
The Voustak project is in a mafic intrusive complex that has been explored by multiple companies with multiple mapping/sampling programs, geophysical data sets and drill campaigns. Mineralization is located at the contact between a gabbro and a granitic. Strong assimilation of country rock within the host gabbro is indicative of a feeder dike setting similar to other gabbroic hosted nickel deposits.
in August 2021 EMX entered into an agreement to sell the Northern Sweden Nickel projects to Swedish Nickel Pty. Ltd., a wholly owned subsidiary of Bayrock Resources Limited. Bayrock is an Australian unlisted public company and has a pre-existing nickel mining asset in Sweden. In return for the Projects, the Agreement provides EMX with up to a 6% equity interest in Bayrock, annual advance royalty payments, 3% NSR, work commitments and other considerations.
The nearby mines and mineral deposits provide geologic context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar styles, tonnages and/or grades of mineralization.