Capella currently expects scout core drilling of the priority Killero East target to commence in late Q1, 2024; this drill program would represent the first ever drill testing of the historical BoT copper-gold anomalies. Capella is also currently evaluating an initial diamond drill program on the Saattopora West target - the northwestern extension to
Figure 1. Location of the newly-granted Killero West permit plus the five exploration permits granted in May, 2023 (Saattopora W, Keisunselka, Jolhikko, Katajavaara, and Killero East) in the
1 References made to nearby mines and analogous deposits provide context for the Northern Finland Gold-Copper project but are not necessarily indicative that these projects host similar tonnages or grades of mineralization. |
Capella currently holds a 70% interest in the Northern Finland Copper-Gold project through a Joint Venture ("JV") agreement signed with ASX-listed Cullen Resources Ltd (ASX: CUL)("Cullen")(see Company News Release dated
Killero East and West Target Areas
The Company's priority Killero East target area has been defined through a combination of: i) BoT copper-gold anomalies derived from previous Anglo American plc exploration programs2, and ii) interpretation of data from the Company´s own high-resolution drone magnetic survey completed in April, 2022. The historical BoT data confirm an extensive copper-gold anomaly associated with a major NE-trending fault/shear zone, with this deformation zone also displacing interpreted E-W trending mafic to ultramafic volcanic and/or intrusive rocks (Figure 2). Initial drilling at Killero East will be designed to vector in to potential sources of the copper-gold anomalism.
Similarly, the Killero West target areas contains significant intervals of anomalous (>110ppm Cu) BoT values which appear to be broadly associated with mafic/tholeiitic volcanic rocks and which have also been cross -cut by later-stage NE-trending faults / shear zones (albeit with smaller offsets than observed in Killero East).
Figure 2. Killero E target areas as defined by combined geochemical (BoT) and geophysical (drone magnetic survey data) anomalies.
2 Historic geochemical results quoted for Killero are derived from GTK ( |
Aside from the Killero East / West and the Saattopora NW extension permits the remaining three exploration permits cover the following targets:
- Keisunselka – interpreted Au mineralization in cross-cutting structures in deformed mafic volcanic units. Concept is expected to be tested through BoT drilling in late Q1, 2024.
- Jolhikko – zone of intense structural complexity with potential for orogenic-style gold mineralization. Target is also expected to be tested through BoT drilling in late Q1, 2024.
- Katajavaara – potential SE extension of mineralization outlined in Outokumpu's former Saattopora Au-Cu mine.
All of the Company´s target areas lie adjacent to the Sirkka thrust zone, a well-mineralized structural corridor in the Central Lapland Greenstone Belt which hosts a number of recent exploration discoveries (such as Rupert Resources' Ikkari gold project1). The granted exploration permits allow the Company to undertake more detailed field evaluations - including ground geophysical surveys and diamond drilling - within the individual target areas. Engagement with local communities / stakeholders on upcoming work programs will be a priority going forward.
The technical information in this news release relating to the Northern Finland Gold-Copper project has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by
On Behalf of the Board of
"Eric Roth"
___________________________
President & CEO
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.
On
The Company continues to explore the Northern Finland Gold-Copper project in the Central Lapland Greenstone Belt, together with JV partner Cullen Resources Ltd (ASX: CUL). A total of six exploration permits have now been approved, including the priority Killero East Cu-Au target. In central
Capella also retains exposure to exploration success in precious metals projects through its active
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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