EMX announced the sale of the Mo-i-Råna volcanogenic massive sulfide project in Norway to Mahvie Minerals, a private Swedish company. To keep its interest in the project, Mahvie has to spend a minimum of 200k USD within the first year and an aggregate of 1 million USD or 2000m of drilling within the first three years.
Over 200 mines and prospects of VMS or carbonate replacement style mineralization are known within the property, with historic production of 4.35mtons @3.61% Zn, 0.71% Pb and 0.31% Cu from the Mofjell Mine.
Mo-i-Rana project, Norway (Source: www.emxroyalty.com)
