Located in northwestern Norway, about 100 kilometers southwest of the Nussir Copper project, Burfjord hosts more than thirty historic mines and prospects with outcropping copper and gold mineralization. In late 2016 the Burfjord project was acquired by Boreal Metals Inc., (BMC). EMX holds a 19.9% equity ownership in BMC plus an uncapped 3% NSR on the property. See Company news release dated November 22, 2016 for more details.
Base metals were the focus of previous work, but gold mineralization was documented by the Norweigian Geological Survey in the mid-1990's, and has not been followed up. Host rocks are metavolcanics, and mineralization is present as both stratabound and vein occurrences.
The geology of Burfjord is highly favorable for the development of Au and Au-Cu deposits, with tectonically deformed and dismembered mafic metavolcanic rocks hosting quartz ± calcite, albite and actinolite veins, vein networks, hydrothermal breccias, and lenses of disseminated sulfide (pyrite-chalcopyrite ± pyrrhotite, arsenopyrite) mineralization. EMX sees discovery potential throughout the 55 square kilometer permit area.
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.