European Energy Metals Central Finland Exploration Licences Granted
European Energy Metals Central Finland
Exploration Licences Granted
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2024) - European Energy Metals (TSXV:
FIN) (FSE: W28) ("
European Energy Metals
" or the "
Company
") is pleased to report
that the Nabba
and Nabba 2 Exploration Licences (ELs) which were applied for in September and October 2023 have
been granted by TUKES (Finnish Chemical and Safety Agency). The licences are located within the
Company's Central Finland Lithium Project and cover 2,780 and 1,740 hectares (ha) respectively.
"European Energy Metals is grateful to TUKES for expediting these licence applications," commented
CEO Jeremy Poirier. "With exploration licenses in place we will be able to advance the targets already
generated with more advanced exploration including diamond drilling this year. European Energy Metals
is poised for continued success in 2024," he concluded.
Under the Finnish Mineral Act the licences are granted for a period of four years after which extensions
can be granted for a total of 15 years.
These licences permit advanced exploration, including trenching
and diamond drilling. The Company is in the process of finalizing its 2024 exploration plans however it is
anticipated that prospecting, geological mapping, ground geophysics, trenching and diamond drilling will
be conducted this year.
Property Highlights
Prospecting during 2023 identified multiple occurrences of lithium bearing spodumene pegmatite
mineralization on the underlying Nabba Reservation.
The highlight was the discovery of the Kyrola
Prospect, a 350m long by 110m wide spodumene-bearing boulder field, where 49 rock chip grab
samples were assayed from 3.84% Li
2
O to 0.003% Li
2
O, with 15 of the 49 samples returning grades in
excess of 0.50% Li
2
O (Li
2
O = lithium oxide). The extent of the boulder field is constrained only by low-
lying overburden covered areas and farm fields.
The mean assay of these samples was 0.53% Li
2
O.
Fifteen samples assayed greater than 0.50% Li
2
O, eleven assayed greater than 1.00% Li
2
O, 4 assayed
greater than 2.00% Li
2
O and 1 assayed greater than 3.00% Li
2
O.
The boulders are generally angular
and range in size from small hand size cobbles up to +1.5m in diameter.
The boulders are also weakly
anomalous in cesium, tantalum, beryllium and tin.
The boulders are comprised mineralogically of albite-spodumene-quartz-muscovite pegmatite with
lesser accessory minerals such as tourmaline, garnet and beryl.
They are typically massive to weakly
zoned and appear to be mineralogically similar to the known Keliber deposits in the region, suggesting
they may be part of the same mineralizing event.
Based on the known glacial history of the area and glacial dispersion of pegmatite boulders at the
Keliber deposits (Ahtola et al, 2015)
it is interpreted that the source of the boulders is likely to be to the
northwest of the boulder field, and possibly within 300 m-500 m.
Further studies will be required to
confirm and define targets for drilling.
The Nabba ELs lie <8 km west of Keliber's Spodumene Concentrator Plant and several previously
known lithium-spodumene pegmatite prospects/deposits occur within 1 km of the Nabba ELs, including
the Emmes Deposit which hosts NNW-SSE trending Li-bearing, spodumene pegmatites, and a
resource of 1.08 Mt grading 1.22% Li
2
O (source: Finnish Geological Survey).
European Energy Metals cautions investors grab samples are selective samples by their nature and are
not necessarily indicative of mineralization on the Nabba ELs. The Company further cautions the
presence of lithium mineralization on Keliber Oy's properties is not necessarily indicative of similar
mineralization on the Company's mineral reservations.
Figure 1: Nabba Exploration Licences Location and Exploration Highlights
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9006/198020_dc4dc1bf14cf99c7_001full.jpg
QA/QC Statement
Samples were submitted to ALS Laboratories in Sodankyla Finland. ALS inserted internal standards,
blanks and pulp duplicates within each sample batch as part of their own internal monitoring of quality
control protocols. European Energy Metals monitors precision and bias performance by inserting
certified lithium standards (OREAS 750 and OREAS 753) as well as blanks into each batch submitted
to ALS at a rate of 1:25.
The major element oxides and trace elements including Li, Cs, Ta and Be were analysed by ALS
analytical package ME-MS89L + B-MS89L involving digestion by Na2O2 fusion followed by ALS's super
trace ICP-MS methodology. QAQC results to date do not indicate any analytical accuracy issues with all
standards returning values Li values within 3 standard deviations of their certified mean and blanks
returning expected values.
Mike Basha, P.Eng., P.Geo. (NL), VP Exploration of European Energy Metals Corp., a Qualified Person
as defined by National Instrument 43-101, has prepared the scientific and technical information
contained in this press release.
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company currently focussed on the Lithium-Cesium-
Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are
legislating environmentally friendly and energy independent laws and policies. One of the key
components is access to REE and, specifically, lithium. The company's concessions are located within
15 kms of the Keliber mine and production complex, currently under construction and expected to begin
production in H2 2025.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in
partnership with the Finnish Minerals Group (
www.mineralsgroup.fi
) is underway in the Kautinen Region
and will see the development of open-pit and underground mining from several deposits, construction of
a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola.
When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply
chain (source:
www.sibanyestillwater.com
).
Pursuant to an earn-in agreement with Capella Minerals Ltd (TSXV: CMIL), European Energy Metals has
the right to earn an 80% interest in the Finnish Lithium Project by issuing 2,000,000 shares, paying
Cdn$500,000 and incurring Cdn$2,500,000 dollars in exploration expenditures staged over a 4 year
earn in period. A detailed assessment of the historic and government exploration data compiled by the
Finnish Geological Survey ("GTK") identified a series of permissive tracts for LCT pegmatites. The
concessions comprising the Finnish Lithium Project were identified as a result of this pegmatite
research.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier, CEO
Telephone: 604-722-9842
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statements Regarding Forward-Looking Information
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 the Company, including the presence of
lithium mineralization at, and the
exploration and development potential of, the Finland Pegmatite
Project as well as any future exploration at the Finland Pegmatite Project. 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 the Company 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 the costs of any anticipated work programs and the
ability to fund such costs, required approvals in connection with any work programs and the ability to
obtain such approvals, risks inherent in exploration as well as those described under the heading
"Risks and Uncertainties" in the Company's most recently filed MD&A. The Company 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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