The Løkken project is located 50 km southwest of the regional administrative city of Trondheim. The Løkken deposit is hosted by Ordovician metabasalts of the Løkken ophiolite sequence (overturned) and it the largest known “Cyprus-type” VMS deposit in the world1. The mine closed in the late 1980’s with an estimated 24Mt mined from 1654-1987*.
The Løkken deposit is hosted by Ordovician metabasalts of the Løkken ophiolite sequence which has been overturned by metamorphism. Massive sulfide bodies exhibit classic “vasskis” zoning with copper near the footwall feeder zone, and zinc concentrations grading outward. There are precious metal enrichments, but how these are distributed are poorly understood.
Targets in the Løkken project area include areas around the Dragnet and Hoyden mines. Other targets are the Western, Eastern, and Southern areas. These targets have not seen modern exploration and remain largely untested.
In August 2020, EMX executed option agreement with Capella Minerals (previously named New Dimension Resources) for two polymetallic VMS projects in Norway (including Løkken), and the Southern Gold Line project portfolio. The deal provides EMX with equity interest, a 2.5% NSR, and annual advanced royalty payments. See EMX News Release dated August 11, 2020.
1Sources: Norwegian Geological Survey Ore Deposit Database (1636-015), 2019; Metallognenic Areas in Norway, in Mineral Deposits and Metallogeny of Fennoscandia, Geological Survey of Finland, Special Paper 53, p. 35-138, 2012; Greene, 1989, Løkken Massive Sulfide Deposit, in Economic Geology, v 84., p 2173-2195.
*EMX has not performed sufficient work to verify the “historic” estimates of mineral inventories and production figures, which are not compliant with NI43-101 standards for disclosure of mineral resources. EMX is not treating the estimates as current mineral resources, and these estimates should not be relied upon until they can be confirmed. However, the deposit size and production figures, as widely published in multiple sources, are considered relevant.