Capella Obtains Euromines Membership and Provides Hessjøgruva Drill Permitting Update
Capella Obtains Euromines Membership and Provides Hessjøgruva
Drill Permitting Update
VANCOUVER, BC
,
April 27, 2023
/CNW/ -
Capella Minerals Ltd
(TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) ("Capella" or the "Company") is
pleased to advise that its application for Corporate membership in Euromines was accepted at the Euromines General Assembly held in
Brussels
last
week. Euromines is the recognized representative of the European metals and minerals mining industry, with the associations main objective being to
promote the industry and to maintain its relations with European institutions at all levels. Capella looks forward to working together with Euromines
and its partners as it works towards the common goal of securing sustainable and verifiable new supplies of critical metals within
Europe
.
Separately, the Company is pleased to advise that permitting for a late-Q2 2023 diamond drill program at the advanced exploration-stage
Hessjøgruva copper-cobalt-zinc project in central
Norway
is well advanced. Initial planning is based on the completion of
4,000m
/ 8 holes of infill and
step-out drilling on the high-grade Hessjøgruva Lens A deposit, which was partially tested as part of the
12,035m
/ 67 holes of historical diamond
drilling completed at Hessjøgruva in the 1970´s (see Canadian National Instrument 43-101 or "NI 43-101" compliant technical report filed on SEDAR
on
September 7, 2022
;
www.sedar.com
). The planned summer drilling is expected to assist with the definition of further work required to complete a
maiden NI 43-101 compliant Mineral Resource Estimate for Hessjøgruva, in addition to providing fresh core for metallurgical testwork and baseline
data for initial development studies.
Eric Roth
, Capella´s President and CEO commented: ¨We are very pleased to be announcing our incorporation in to the Euromines community.
Euromines represents an important interface between a broad spectrum of mining companies - from explorers/developers to major mining companies
such as
Anglo American
and Rio Tinto - with both EU policy and communities. At our Hessjøgruva project in central
Norway
, we are looking forward
to be able to continue moving the project along the path towards a maiden NI 43-101-compliant Mineral Resource Estimate and initial development-
related studies and permitting."
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
European base and battery metals projects.
In
Norway
, the Company's focus is on: i) the advanced exploration-stage Hessjøgruva copper-cobalt project and the adjacent Kongensgruve and Kjøli
projects in the northern Røros mining district, Trøndelag province, ii) the discovery of satellite high-grade copper-cobalt deposits around the past-
producing Løkken copper mine, Trøndelag province, and iii) the discovery of new copper-cobalt deposits in the former Vaddas-Birtavarre mining
district of northern Norway.
The Company is also exploring the Northern Finland Gold-Copper (NFGC) project in the Central Lapland Greenstone Belt, together with JV partner
Cullen Resources Ltd (ASX: CUL). A total of seven exploration permit applications are awaiting approval at NFGC, including the priority Killero Cu-Au
target. In central
Finland
, the Company´s focus is on the discovery of lithium and rare-earth element deposits at both its Perho reservation, in addition
to an extensive package of properties in the broader Keliber district through a JV with Hilo Mining (TSX:
Hilo
).
Capella also retains exposure to exploration success in precious metals projects through its active Canadian Joint Ventures with Prospector Metals
Corp. (TSXV: PPP) at Savant (
Ontario
) and Agnico Eagle Mines Ltd (formerly Yamana Gold Inc.)(TSX/NYSE: AEM) at Domain (
Manitoba
). The
Company also holds a 49% interest in the Sierra Blanca low sulfidation gold-silver project in
Santa Cruz
,
Argentina
, which is currently being explored
by Austral Gold Ltd (TSXV: AGLD; ASX: AGD).
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.
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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 27-APR-23