• Cu: $
  • Au: $
  • TSX-V: CMIL
  • OTCQB: CMILF
  • FRA: N7D2

Løkken High-Grade Copper-Cobalt VMS Project

Capella 100%

Near-Mine and Greenfields Exploration in Past-Producing Copper Mining District

Capella’s Løkken copper-rich massive sulfide (“VMS”) project is located approximately 50km SW of the regional centre of Trondheim in Trøndelag County, central Norway. The Løkken claim block covers an area of 210 square kilometres (21,000 Ha) and surrounds the former Løkken underground copper mine which closed in 1987 in response to low metals prices. The former Løkken mine is considered to be one of the largest ophiolite-hosted Cyprus-type VMS deposits (by tonnage) to have been developed in the world, producing an estimated 24Mt @ 2.3% Cu and 1.8% Zn (plus silver and gold credits)1.

The Løkken claim block covers a significant portion of the old Løkken mine infrastructure (shafts, historical mineral processing facilities, railway loading area for concentrate, etc), in addition to multiple satellite occurrences of copper-rich VMS mineralization with varying degrees of development.

The Company’s 2022 summer field season at Løkken was focused on advancing drill hole targeting within the 5 highest priority target areas - Amot, Hoydal, Grefstofjellet, Dragset, and Western Area – as defined from the 2021 field season. Work completed included systematic ground magnetic surveys and soil (ionic leach) sampling. Permitting for a maiden core drilling program at the Amot target has been initiated and drilling is expected to commence in Q4, 2022.

Project Snapshot

Location 50 km S of Trondheim, Norway
Ownership 100% Capella Minerals Ltd
2.5% NSR to EMX Royalty, with 0.5% purchasable for USD 1M.
Status Near-mine and greenfields exploration
Deposit types High-grade copper-rich VMS deposits
Property Size 21,000 hectares (210 square kilometres)
Host Rocks Ophiolite sequence
Age Ordovician
Main Economic Elements Copper, Zinc, Cobalt, Silver, Gold
Access All weather paved highways and gravel roads

 

Løkken – Regional Setting

The Løkken and Røros (Kjøli) massive sulfide (“VMS”) districts in central Norway lie within the so-called Caledonian orogeny, which is interpreted to have extended from the productive VMS districts in NE Canada (Bathurst Mining Camp, New Brunswick; Buchans District, Newfoundland) and the Appalachian US to northern Norway (Figure 1). Mineralization at Løkken is hosted by a sequence of Ordovician-age metabasalts (mixed pillow and massive basalts) within an overturned ophiolite sequence.

Figure 1. Location of the Løkken deposit in the Caledonian orogeny (left) and mine-scale geology (right).

Figure 2. The subtle Løkken discovery outcrop (left) and 3D model of the old Løkken mine (right).

The former Løkken Mine consisted of a stratiform massive sulfide deposit which was approximately 4km in length, reached a maximum depth of 1km, and had an average thickness of 60m1 (Figure 2). Mineralization consisted of massive chalcopyrite, sphalerite, pyrite, and pyrrhotite. Given that VMS deposits typically occur in clusters, field activities at Løkken will follow two main paths i) exploring potential extensions to the known mineralization at Løkken, and ii) advancing priority near-mine targets to drilling.

Løkken Claim Block and Priority Exploration Targets

Figure 3. Løkken claim block and 5 priority exploration targets for final drill targeting June & July 2022.
Figure 4. Select VMS targets on the Løkken claim block – Dragset, Hoydal, Amot.

Capella’s 100%-owned claim block at Løkken is a district-scale (210 sq. km; Figure 3) land holding that surrounds the former Løkken copper mining operations. This claim block covers part of the old Løkken mine, a significant portion of the former mine infrastructure (shafts, historical mineral processing facilities, railway loading area for concentrate, etc), in addition to multiple satellite bodies of VMS mineralization with varying degrees of development (Figure 4). The Norwegian State holds a small relict claim over the mined-out central portion of the old Løkken mine, but this does not affect Capella’s goals of exploring for extensions to known mineralization and drill testing of near-mine priority target areas.

H2 2022 Work Program

The Company’s 2022 summer field season at Løkken was focused on advancing drill hole targeting within the 5 highest priority target areas - Amot, Hoydal, Grefstofjellet, Dragset, and Western Area – as defined from the 2021 field season. Work completed included systematic ground magnetic surveys and soil (ionic leach) sampling. Permitting for a maiden core drilling program at the Amot target has been initiated and drilling is expected to commence in Q4, 2022.

1 Historic production values quoted above are from Grenne et al. 1999. Capella and EMX have not performed sufficient work to verify the published data reported above, but both Companies believe this information is considered reliable and relevant. (Mineralium Deposita 34, 422–471)

Historical Photographs – Former Løkken Mining Operations

Open stope in Løkken underground operations
Haulage cart in old Løkken mine
Former processing facilities at Løkken
Electrified railway joining Løkken with the deepwater port at Orkanger