The Tynset VMS project is located in the historic Røros mining district in southern Norway and consists of four historic mining areas in a consolidated land position. The trend of historic mines in the Tynset area is ~30 km long and has experienced little modern exploration. Portions of the Røros District saw production through the 1970's, but several decades have passed without significant activity. In late 2016 the Tynset 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.
Mineralization at Tynset consists of polymetallic, Caledonian-aged VMS style mineralization, which has been metamorphosed and deformed. Sulfide mineral grains have been coarsened and also re-concentrated in fold hinges and other structural traps.
EMX and BMC recognize multiple opportunities in the Tynset area. Mining was only conducted to shallow depths and exploration was limited to the immediate vicinity of the historically defined mineralized zones. Ample opportunity exists for continued discovery both down plunge and along strike of these zones.
Likewise, little attention was paid to gold endowments in the historic operations. Recent EMX and NGU sampling has demonstrated that some of the VMS deposits in this belt are enriched in gold, and this potential remains unassessed.
The Tynset project has excellent infrastructure with year-round access. Supportive local communities and Norway's highly favorable fiscal regime and regulatory framework make this an ideal setting for further discovery and mineral resource development.