Capella Announces Filing of Technical Report for the Hessjøgruva Copper- Cobalt Project, Trøndelag County, Norway
Capella Announces Filing of Technical Report for the Hessjøgruva Copper-
Cobalt Project, Trøndelag County, Norway
VANCOUVER, BC
,
Sept. 8, 2022
/CNW/ -
Capella Minerals Ltd.
(TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) ("Capella" or the "Company") is pleased to
advise that it has filed an independent National Instrument 43-101 ("NI 43-101") technical report on the Company's high-grade Hessjøgruva copper-zinc-cobalt
massive sulfide ("VMS") project in central
Norway
. This report represents the first NI 43-101 compliant technical report to be completed on the Hessjøgruva
project and provides a detailed review of all exploration activities undertaken to date (including the historical diamond drill programs that were undertaken during
the 1970's).
A copy of the technical report is available under Capella's profile on SEDAR (
www.sedar.com
) and on the Hessjøgruva project page of the Company's website (
www.capellaminerals.com
).
Eric Roth
, Capella's President and CEO, commented: "The Hessjøgruva technical report provides Capella with an extremely solid base from which to plan and
execute further work programs. We currently view Hessjøgruva as being a cornerstone asset in a broader copper-zinc-cobalt VMS district which includes two
other 100% Capella-owned projects – the adjacent Kongensgruve concessions, which host the former mines at Rødalen and Kongensgruve plus a former copper
concentrating facility and tailings dam, and the nearby Kjøli project, where 4 priority target areas have been delineated for drill testing. I look forward to keeping
the market updated as we advanced our projects in the Hessjøgruva district".
Qualified Persons and Disclosure Statement
The independent NI 43-101 technical report for the Hessjøgruva project has been completed by GeoVista Aktiebolag ("GeoVista"). All other technical information
in this news release relating to the Kongensgruve and Kjøli projects has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101,
and approved by
Eric Roth
, the Company's President & CEO, a Director, and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology
from the University of
Western Australia
, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and is a Fellow of the Society of Economic
Geologists (SEG). Mr. Roth has 30 years of experience in international minerals exploration and mining project evaluation.
On Behalf of the Board of Capella Minerals Ltd.
"Eric Roth"
_________________________
Eric Roth
, Ph.D., FAusIMM
President & CEO
About Capella Minerals Ltd
Capella is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade
copper(-zinc-cobalt) and gold deposits. With respect to base and battery metals projects, the Company's current focus is on: i) advancing its recently-acquired
Hessjøgruva project in central
Norway
, and ii) the discovery of further high-grade VMS-type deposits in district-scale land positions around the past-producing
Løkken (Løkken Verk District) and Kjøli (northern Røros District) copper mines.
The Company's precious metals focus is on the discovery of high-grade gold deposits on the Katajavaara-Aakenus JV in
Finland
, its 100%-owned Southern Gold
Line Project in
Sweden
, and its active Canadian Joint Ventures with Prospector Metals Corp (TSXV: PPP) at Savant (
Ontario
) and Yamana Gold Inc. at Domain
(
Manitoba
). The Company also retains a residual interest (subject to an option to purchase agreement with Austral Gold Ltd) in the Sierra Blanca gold-silver
divestiture in
Santa Cruz
,
Argentina
.
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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy
of this release.
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.
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SOURCE
Capella Minerals Limited
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For further information:
Capella Contacts: Eric Roth, Email: [email protected], Karen Davies, +1.604.314.2662
CO: Capella Minerals Limited
CNW 09:00e 08-SEP-22