CAPELLA MINERALS LIMITED Field activities are currently focused on the definition of specific drill locations within the 14 CARDS AI targets identified along strike from the former Kjoli copper mine. Historical copper grades in the old Kjoli mine were reported to be 2.9% Cu1.
Final drill targeting at Kjoli will be undertaken using a combination of geochemical (Ionic Leach) and geophysical (ground gravity and drone magnetic survey) techniques with demonstrated effectiveness in the discovery of copper-rich massive sulfide ('VMS') deposits. The initial focus will be on the 4 largest CARDS AI targets, each measuring 2+km in length, located immediately adjacent to, and to the NE of, the former Kjoli mine.
A systematic Ionic Leach soil sampling program will be undertaken over the main CARDS AI targets with the objective of detecting geochemical anomalies associated with buried high-grade base metal mineralization.
In parallel, a systematic ground gravity survey will be completed with the objective of differentiating higher density units (such as copper-rich massive sulfide deposits) from their host rocks. This will be the first time that the ground gravity geophysical technique has been employed at Kjoli.
A high-resolution drone magnetic survey will also be completed over the 20km-long 'prospective horizon' with the highest potential for copper-rich VMS discoveries. The survey has been designed to highlight the sulfide mineral pyrrhotite, which is intimately associated with the high-grade copper-zinc mineralization at Kjoli.
Formal drill permitting for priority drill locations will be initiated as soon as results from the current work program have been received and evaluated.
About the
The Company's Kjoli copper-rich VMS project lies in the northern part of the Roros mining district, which saw copper production from a number of high-grade VMS deposits from the mid-1600's through until the mid-1980's. Kjoli represents a district-scale brownfields/greenfields exploration project covering the former Kjoli and Killingdal mining operations, together with approximately 20 km strike of underexplored but highly prospective stratigraphy for the discovery of new copper-rich VMS deposits. Access to the property is excellent, with the main Trondheim-Roros paved highway and railway line passing by the SW corner of the property. Hydroelectric power is also readily available within the broader Kjoli district.
About
Capella is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and copper deposits. The Company's copper focus is currently on the discovery of high-grade VMS-type deposits within 100%-owned, district-scale land positions around the past-producing Lokken and Kjoli copper mines in central
Field activities are ongoing on all projects, with the primary focus being to advance priority targets through the permitting process and onwards to drilling and discovery.
The Company also holds marketable securities in
Cautionary Notes and Forward-looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Capella, including the timing, completion of and results from the exploration and drill programs described in this release. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Capella in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances.
This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading 'Risks and Uncertainties' in Capella's most recently filed MD&A. Capella does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
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