European Energy Metals Files Finnish Lithium-Cesium-Tantalum Pegmatite Project Technical Report
European Energy Metals Files Finnish
Lithium-Cesium-Tantalum Pegmatite Project
Technical Report
Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) -
European Energy Metals Corp.
(TSXV:
FIN) (FSE: W28) ("
European Energy Metals
" or the "
Company
") is pleased to announce the receipt
and subsequent SEDAR filing of an independent technical report entitled "Finland Pegmatite Project
Central Ostrobothnia, Western Finland" by Warren D. Robb, P.Geo. (BC) with an effective date of May
30, 2023 (the "
Technical Report
").
European Energy Metals has the option to earn up to an 80%
interest in the Finland Pegmatite Project ("
FPP
") from Capella Minerals Ltd. (TSXV: CMIL) as detailed
in the Company's 2023-March-06 and 2023-March-20 news releases. The report can be found on
SEDAR or the company's website:
europeanenergymetals.com
,
The FPP consists of five mineral reservations prospective for lithium-cesium-tantulum and
cover an area
of 2300 square kilometers. The report focused on the four northern reservations Nabba, Lappajarvi W,
Lappajarvi E, and Kaatiala, located 350 kilometers north of Helsinki and road accessible from the city of
Kokkola.
"The Technical Report supports the Company's decision to acquire the Finland Pegmatite Project and
provides a good technical base for our geological crews as they design our 2023 Phase I exploration
program," stated European Energy Metals CEO Jeremy Poirier. "We believe our Finland Pegmatite
Project portfolio has the potential to become a significant source of lithium and REE's for Europe's
domestic critical metals industry," he continued.
The Geological Survey of Finland ("
GTK
") has been conducting regional studies since the 1960's,
including: till geochemistry, airborne magnetics and radiometrics, and rock sampling.
They combined
their data with industry data from Kebiler Oy and other companies to complete a study for a predictive
model for LCT pegmatites in Finland, identifying several "permissive tracts" with potential to host LCT
pegmatite deposits.
The Finnish Pegmatite Project lies within two of the tracts: the 255 km² Kaustinen
tract, host to the Kebiler Oy LCT lithium project, and the 3,672 km² Järvi-Pohjanmaa tract.
GTK identified anomalous areas in the Kaustinen tract and followed up with detailed geochemical till
sampling between 2003 and 2023,
sampling at 100 metre intervals along lines spaced approximately
1000 metres apart, with the lines oriented perpendicular to the ice flow direction at 240
o
.
An anomaly
was identified on the Nabba concession.
Figure 1. Hilo Finland Lithium Project Exploration Reservations
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GTK identifed and described pegmatite mineralization in boulder trains and in outcrop on the three
southern reservations Lappajarvi W, Lappajarvi W, and Kaatiala, but did not analyze the rocks for lithium.
Figure 2. Permissive Tracts for Lithium
(3 is Järvi-Pohjanmaa tract; 5 is Kaustinen tract)
Source: Quantitative assessment of undiscovered resources in lithium-caesium-tantalum
pegmatite hosted deposits in Finland by R.Kalevi, E.Pasi, A.Timo, H.Tapio, K.Niilo, K.Janne, L.Panu and T.Tuomo dated 2018. Geological Survey
of Finalnd Bulletin 40
6.
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The four exploration reservations* all lie within the Pohjanmaa belt of rocks and are underlain by mica
schists and mica gneisses, which are intercalated with metavolcanic rocks.
The Pohjanmaa belt, which
includes the Kaustinen and Järvi-Pohjanmaa tracts, hosts several rare element pegmatites in the north
proximal to the Nabba reservation. Li pegmatites of the Kaustinen province belong to the albite
spodumene type according to the classification of Černý & Ercit (2005). The Li pegmatites have intruded
after the metamorphic peak conditions of the area and crosscut the metavolcanic and metasedimentary
rocks at the northern edge of the belt.
*
Mineral Reservations in Finland are valid for two years and grant the holder the right to evaluate the reservation's geology to identify and
subsequently secure areas within the reservation deemed worthy of further exploration.
The holder can then apply for an Exploration permit over
the smaller worthy areas to explore further.
The Technical Report recommends the Company design a ground follow up exploration program
consisting of prospecting, geological mapping combined with rock sampling and infill till geochemical
sampling to identify target areas with the exploration reservations for follow up exploration permit
applications.
The cost of the recommended exploration program is budgeted at $500,000.
The data disclosed in this news release is related to historical base of till sampling results. European
Energy has not undertaken any independent investigation of the sampling, nor has it independently
analyzed the results of the historical exploration work in order to verify the results. European Energy
considers these historical base of till results relevant as the Company is using this data as a guide to
plan exploration programs.
R. Tim Henneberry, P.Geo. (BC), a Director of European Energy Metals Corp., is the Qualified Person
who has reviewed and approved the techgnical content disclosed in this release.
About the Finland Pegmatite Project
The Finland Pegmatite Project consists of four exploration concessions in central Finland and one
exploration concession in southern Finland. These reservations cover a total area of 2,300 square
kilometres and are focused on Lithium-Cesium-Tantalum or LCT pegmatite complexes located within
the Jarvi-Pohjanmaa and Seinajoki lithium-permissive tracts as defined by the Geological Survey of
Finland (GTK). Four of the reservations (Nabba, Lappajarvi W, Lappajarvi E and Kaatiala) lie
immediately adjacent to, and to the south of, Keliber Oy's spodumene mine development project in the
Kaustinen district.
Keliber Oy is a consortium, comprised of Sibanye-Stillwater (79%), Finnish Minerals Group (20%) and
Finnish shareholders (1%). A Definitve Feasibility Study by Hatch dated June 14, 2018 states a JORC
Code 2012 compliant Measured and Indicated Mineral Resource of 9.47 million tonnes at a grade of
1.16% Li
2
O.
1
European Energy Metals cautions investors the presence of lithium mineralization at Keliber Oy is not
necessarily indicative of similar mineralzation at the Nabba concession.
Under the terms of an Earn In Agreement with Capella Minerals Limited, European Energy may earn an
80% interest in the Finland Pegmatite Project by issuing 1,750,000 shares, paying Cdn$500,000.00 and
incurring Cdn$2,500,000.00 dollars in exploration expenditures staged over a 4 year earn in period.
1. Definitive Feasibility Study - Executive Summary June 14, 2018 by Hatch.
http://mb.cision.com/Public/14755/2547948/b83a99f0255413fe.pdf
About European Energy Metals Corp.
European Energy Metals. 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 is also focusing on its Champ Copper project
located in Southeast British Columbia.
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 future planned
exploration programs for, and the exploration potential of, 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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