Capella Minerals announced the acquisition of the Hessjogruva Copper-Zinc-Cobalt Project in central Norway. The project is located approx. 20km SW of Capella’s Kjoli Cu-Zn-Co project and has a mineral inventory of 3MT @ 1.7% Cu, 1.4% Zn. The estimate is non-NI 43-101 compliant and based on 68 drill holes, amounting to a total of 12000 drill meters. The acquisition of an advanced stage project will provide the company with a near-term development opportunity in addition to its Kjoli project which holds significant exploration upside.
Notably, historical assaying focused primarily on copper and zinc but not on cobalt, the presence of which was confirmed during Capella’s due diligence process. The mineralization is currently defined from surface to a vertical depth of 400m and remains open down dip.
Initial work by Capella will focus on converting the mineralization into an official Ni 43-101 compliant resource estimate, followed by potential infill and step-out drilling.
Location of the Hessjogruva project in relation to Capella’s Kjoli licenses (Source: www.capellaminerals.com)
