European Energy Metals to Conduct Gold Exploration on Northern Finland Licences
European Energy Metals to Conduct Gold
Exploration on Northern Finland Licences
Vancouver, British Columbia--(Newsfile Corp. - April 19, 2024) - European Energy Metals (TSXV: FIN)
(FSE: W28) ("
European Energy Metals
" or the "
Company
") is pleased to announce that beginning in
May, it will begin conducting gold exploration on its Northern Finland portfolio of projects.
The Company
currently holds 5 individual mineral reservations covering approximately 300,000 ha (3,000 km
2
)
primarily in the Central Lapland Greenstone Belt ("CLGB) in Northern Finland (see Figure 1).
The
Company also continues to advance its lithium exploration targets on the Nabba and Nabba 2
Exploration Licences recently granted (Press Release of February 14, 2024).
Figure 1
To view an enhanced version of this graphic, please visit:
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The Paleo-Proterozoic Greenstone Terrane of Northern Finland is comprised of multiple greenstone
belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico Eagle and
Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by Boliden
and Sakatti owned by Aglo-American).
The belt's potential is also suggested by the presence of several
major mining companies in the belt. The belt has very recently garnered significant interest following an
offer from Rupert Resources to buy B2Gold's 70% interest in a Joint Venture between B2Gold and
Aurion Resources which lies adjacent to Ruperts Ikkari Deposit, for $102 million.
The joint venture
ground is strategic to Ruperts proposed development of the Ikkari Deposit but is also host to numerous
gold prospects along a structural corridor that extends >125 km.
The Company's projects occur in an underexplored part of the CLGB but are underlain by favourable
host rocks of the CLGB and numerous throughgoing faults, domain boundaries and unconformities,
considered favourable sites for gold mineralization.
Ikkari occurs adjacent to a domain boundary.
Preliminary reconnaissance prospecting has identified gold and/or copper occurrences locally on the
company's licences.
Jeremy Poirier, the Company's Chief Executive Officer, commented, "We are super excited to initiate
gold exploration field programs on our Northern Finland project portfolio. The recent surge of interest in
the belt highlighted by Rupert Resources offer to acquire B2Gold's 70% interest in a joint venture
between B2Gold and Aurion adjacent to its Ikkari gold project, suggests there is significant potential
within our Northern Finland project portfolio. We believe our exploration teams can unlock the project's
potential under the guidance of our VP Exploration, Mike Basha, who has worked extensively in the
CLGB as the founder and former CEO and President of Aurion Resources."
The Company Also Wishes to Announce it will be attending the Capital Event Management
Conference in Scottsdale this weekend April.19
th
to April.21
st
. The details are included below.
Dates: April.19
th
to 21
st
Location: JW Marriott, Scottsdale, Arizona
Details: The conference introduced growth stage companies to active high net worth investors, brokers
and institutions. Through a day of 1 on 1 meetings and networking activities.
Website:
www.cem.ca
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company primarily 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.
The Company cautions the presence of lithium mineralization on Keliber's
properties is not necessarily indicative of similar mineralization on the Company's mineral reservations.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited
(NYSE
:
SBSW) 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
).
The Finnish Pegmatite Project covers approximately 2,500 km2 within geological terrane that hosts
numerous LCT spodumene pegmatite prospects and deposits.
The company's exploration Licences are
situated less than 10 km from Keliber's Spodumene Concentrator Plant
The 2023 inaugural exploration
season saw the discovery of multiple occurrences of lithium-bearing spodumene pegmatite
mineralization.
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 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.
It is interpreted, based on glacial history of the area, that the boulders have only been
transported 300-500 m from source.
QA/QC Statement
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 this press release.
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.
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 completion of
the transactions contemplated by the Purchase Agreement and the presence of lithium mineralization
at, and the
exploration and development potential of, the Finland Pegmatite Project as well as the
timing of 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 failure of the Company to obtain approval of the TSX Venture Exchange for
the transactions contemplated by the Purchase Agreement, 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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