Capella Minerals provided an update on its Norwegian Copper Cobalt Projects. At the company’s Kjoli project, drill targeting has been completed with permits for 4000m/25 drill holes in place. Four targets (Kjoli Deeps, the former Kjoli mine, Guldaslgruva and Gronskard) have been outlined. Drilling activities were expected to commence in April but are currently postponed allowing for springtime migration of reindeer through the permit area.
At the Lokken Cu-Zn-Co project, final drill hole targeting is expected to take place in June-July 2022 and will be based on reprocessing of geophysical data as well as ionic leach soil sampling. The company expects a maiden drilling program at Lokken to take place in H2 2022.
In addition, the company has recently been granted new licenses in the vicinity of its Hessejogruva project (non-NI43-101 compliant resource of 3MT @ 1.7% Cu and 1.4% Zn). The newly acquired Kongensgruve claims are prospective for new Cu-Zn-Co resources and represent an ideal site for potential future mineral processing facilities.
Location of Hessjogruva and Kjoli project together with new Kongensgruve claims (Source: www.capellaminerals.com)
