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Perho Lithium Pegmatite Project, Finland

Capella Minerals 70% / Cullen Resources 30%

Lithium-Cesium-Tantalum (“LCT”) Pegmatite Field in southern Finland

Capella has applied for an Exploration Reservation (“Perho”) covering an area of 50 sq km over the Eräjärvi Lithium-Cesium-Tantalum (“LCT”) pegmatite field in southern Finland. The Perho Reservation (VA2022:0056 and shown in green in Figure 1) covers the former Seppälä lithium mine and lies adjacent to the former Viitaniemi and Juurakko feldspar-quartz(-lithium) mines, which are reported by the Finnish geological survey (“GTK”) to have ceased production in 1965 and 1935, respectively. Significantly, more than 70 pegmatite dykes, enriched in B, Be, Li, Nb, Sn and Ta, are reported from the area (Eilu 2012, Lahti 1981, Aviola 2004). Little modern systematic exploration for lithium deposits has been undertaken in the area.

The Perho Reservation has been applied for in the name of local subsidiary Cullen Finland Oy, which is currently owned 70:30 by Capella and ASX-listed Cullen Resources Ltd (ASX: CUL). Cullen Finland Oy is also owner of the Katajavaara-Aaeknus gold-copper project in the Central Lapland Greenstone Belt.

Figure 1. Perho reservation over the Eräjärvi LCT pegmatite field.

The Perho Reservation over the Eräjärvi lithium pegmatite field provides Capella with further exposure to the metals required for Europe’s green energy transition and energy storage. LCT pegmatites are important global sources of lithium, cesium, and tantalum as well as other by-products. In conjunction with our high-grade copper-cobalt assets in Norway, the Company is well placed to participate in the global electrification and decarbonization process.

Project Snapshot

Location 18km SE of Orivesi, southern Finland
Ownership 70% Capella Minerals Ltd
Status Exploration stage project
Deposit type Pegmatite-hosted lithium
Host Rocks Granitoids in paragneiss host
Age Paleoproterozoic
Main Economic Elements Lithium-tantalum-cesium
Access All weather paved highways and gravel roads

Expected 2022/2023 Work Program

Capella’s initial work program at Perho will be to focus on compiling all available geological and geophysical data required to prioritize areas with potential for the discovery of new pegmatite-hosted lithium deposits. This will be followed-up with the ground truthing of areas of interest in late summer 2022, with systematic field work programs expected to begin in Spring 2023.

References

Alviola, R. 2004, Oriveden Seppälä-Vittaniemi alueen pegmatiittitutkimus. Geologcal Survey of Finland, Report M19/2141/2004/1/85. 9p. 60 app. (In Finnish).

Eilu, P.(ed.) 2012. Geological Survey of Finland, Special Paper 53,224.

Lahti, S.I. 1981, On the granitic pegmatites of the Eräjärvi area in Orivesi, southern Finland. Geological Survey of Finland, Bulletin 314, 82p.