Atalaya Mining announced that it entered into two binding agreements with Mineral Prospektering I Sverige AB concerning the exploration of two VMS projects in northern Sweden. Both projects have identical terms, allowing Atalaya to earn 75% interest in each project by funding exploration expenditures and making certain cash payments totaling 12 million USD on each project.
The Skellefte Belt project covers approximately 224km2 in one of Sweden’s most historic mining districts and includes for example the Bjurtraskgruvan discovery returning e.g. 31.35m @ 1.15% Cu, 0.08% Zn, 4.81g/t Ag and 0.16g/t Au. The Rockliden project consists of highly prospective ground surrounding Boliden’s Rockliden deposit that has an inferred resource of 9.2Mt @ 1.7% Cu, 3.9% Zn, and 47g/t Ag.
Rockliden and Skellefte Belt project location in Sweden (Source: www.atalayamining.com)
