VANCOUVER, BC, May 5, 2021 /CNW/ - Capella Minerals Ltd. (TSXV:
CMIL) (FRA: N7D2) (the "Company" or "Capella") is pleased to report
the results of the CARDS Artificial Intelligence ("AI") and Data
Mining analysis undertaken by Windfall Geotek (TSXV:WIN;
OTCQB:WINKF; FRA:L7C2)("Windfall") on the Company's 100% owned
Kjøli high-grade massive sulfide ("VMS") project in central
Norway. Kjøli is a 150 square
kilometre brownfields/greenfields exploration project located
within the northern extension of the past-producing Røros copper
mining district.
Highlights
- The CARDS AI study has resulted in the definition of a total of
24 high-probability base and precious metal targets at Kjøli
(Figures 1 and 2):
-
- 13 copper-zinc targets with signatures of high-grade
copper-rich VMS deposits.
- 11 gold-silver targets, the bulk of which either fully or
partially overlap the 13 defined copper-zinc targets.
- Significant potential has been identified for the discovery of
copper-rich VMS deposits immediately adjacent to, and to the
north-east of, the former Kjøli copper mine.
- The CARDS AI analysis has confirmed Capella's strategy of
focusing exploration efforts on the main prospective horizon which
hosts the former Kjøli and Killingdal copper mines.
Eric Roth, Capella's President
and CEO, commented today: "I am very pleased to be reporting today
the results of the CARDS AI analysis for our Kjøli high-grade
copper project, with the clear definition of 13 priority
copper-zinc targets along the main prospective horizon. The results
of this work mean that our exploration activities can now be
focused on the approximately 10 square kilometers of target areas
with the highest potential for discovery. I look forward to keeping
the market informed as we complete our target generation activities
and move our priority targets forward to drill
testing."
CARDS AI Methodology
The CARDS AI analysis utilized algorithms to create a new
signature based on known high-grade copper-rich VMS occurrences at
Kjøli (using all available geological, geochemical, and
high-resolution geophysical and topographic data) and scoring this
"mineralization footprint" to find other similar sectors within the
project area. The so-called training (or calibration) points
derived from the known VMS occurrences led to the identification of
a total of 13 distinct target areas within the existing Kjøli
property with a high-similarity for the discovery of copper-zinc
mineralization, together with a further 11 target areas with
gold-silver potential. The minimum thresholds used to define new
target areas at Kjøli were expected minimum grades of 1% Cu and
0.5% Zn for copper-zinc targets, and 0.2 g/t Au and 5 g/t Ag for
gold-silver targets.
The CARDS AI technical report will be made available shortly on
the Kjøli project page of Capella's website
(www.capellaminerals.com).
Near-Term Exploration Program
Capella's immediate exploration program at Kjøli will focus on
the evaluation of the 13 target areas which have been defined
through the CARDS AI analysis, in particularly the series of large
(up to 1km in length each) anomalies defined immediately adjacent
to, and along strike to the NE of, the former Kjøli copper mine.
Drill testing of the highest priority targets will be initiated as
soon as the target generation activities have been completed and
drill permits granted.
About the Kjøli Copper Project
The Company's Kjøli copper-rich VMS project lies in the northern
part of the Røros mining district, which saw copper production from
a number of high-grade VMS deposits from the mid-1600's through
until the mid-1980's. Kjøli represents a district-scale
brownfields/greenfields exploration project covering the former
Kjøli and Killingdal mining operations, together with approximately
15 km strike of underexplored but highly prospective stratigraphy
for the discovery of new copper-rich VMS deposits. Access to the
property is excellent, with the main Trondheim-Røros highway and
railway line passing by the SW corner of the property.
Hydroelectric power is also readily available within the broader
Kjøli district.
The Company acquired its 100% interest in the Kjøli Project from
EMX Royalty Corp (NYSE:EMX; TSXV:EMX) in late-2020.
Qualified Persons and Disclosure Statement
The technical information in this news release relating to the
Kjøli project has been prepared in accordance with Canadian
regulatory requirements set out in NI 43-101, and approved by
Eric Roth, the Company's President
& CEO, a Director, and a Qualified Person under NI
43-101. Mr. Roth holds a Ph.D. in Economic Geology from the
University of Western Australia,
is a Fellow of the Australian Institute of Mining and Metallurgy
(AusIMM) and is a Fellow of the Society of Economic Geologists
(SEG). Mr. Roth has 30 years of experience in international
minerals exploration and mining project evaluation.
On Behalf of the Board of Capella Minerals Ltd.
"Eric
Roth"
___________________________
Eric Roth, Ph.D.,
FAusIMM
President & CEO
About Capella Minerals Ltd
Capella is engaged in the acquisition, exploration, and
development of quality mineral resource properties in favourable
jurisdictions with a focus on high-grade gold and copper deposits.
The Company's copper focus is on the discovery of high-grade
massive sulfide (VMS-type) deposits within district-scale land
positions around the past-producing Løkken and Kjøli copper mines
in central Norway. The Company's
precious metals focus is on the discovery of high-grade gold
deposits on its recently acquired Southern Gold Line Project in
Sweden, in addition to its active
Canadian Joint Ventures with Ethos Gold Corp. at Savant
Lake (Ontario) and Yamana Gold
Inc. at Domain (Manitoba). The
Company also retains a residual interest (subject to an option to
purchase agreement with Austral Gold Ltd) in the Sierra Blanca
gold-silver project in Santa Cruz,
Argentina.
Field activities are ongoing on all projects, with the primary
focus being to advance priority targets through the permitting
process and onwards to drilling and discovery.
The Company also holds marketable securities in Cerrado Gold
Inc. (TSXV:CERT; 833,334 shares) and Ethos Gold Corp. (TSXV:ECC;
2,000,000 shares), providing Capella shareholders with indirect
exposure to both exploration and operational success by these
Companies.
Cautionary Notes and Forward-looking
Statements
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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SOURCE Capella Minerals Limited