VANCOUVER, BC, April 27,
2023 /CNW/ - Capella Minerals Ltd (TSXV:
CMIL) (OTCQB: CMILF) (FRA: N7D2) ("Capella" or the "Company") is
pleased to advise that its application for Corporate membership in
Euromines was accepted at the Euromines General Assembly held in
Brussels last week. Euromines is
the recognized representative of the European metals and minerals
mining industry, with the associations main objective being to
promote the industry and to maintain its relations with European
institutions at all levels. Capella looks forward to working
together with Euromines and its partners as it works towards the
common goal of securing sustainable and verifiable new supplies of
critical metals within Europe.
Separately, the Company is pleased to advise that permitting for
a late-Q2 2023 diamond drill program at the advanced
exploration-stage Hessjøgruva copper-cobalt-zinc project in central
Norway is well advanced. Initial
planning is based on the completion of 4,000m / 8 holes of infill and step-out drilling
on the high-grade Hessjøgruva Lens A deposit, which was partially
tested as part of the 12,035m / 67
holes of historical diamond drilling completed at Hessjøgruva in
the 1970´s (see Canadian National Instrument 43-101 or "NI 43-101"
compliant technical report filed on SEDAR on September 7, 2022; www.sedar.com). The planned
summer drilling is expected to assist with the definition of
further work required to complete a maiden NI 43-101 compliant
Mineral Resource Estimate for Hessjøgruva, in addition to providing
fresh core for metallurgical testwork and baseline data for initial
development studies.
Eric Roth, Capella´s President
and CEO commented: ¨We are very pleased to be announcing our
incorporation in to the Euromines community. Euromines represents
an important interface between a broad spectrum of mining companies
- from explorers/developers to major mining companies such as
Anglo American and Rio Tinto - with
both EU policy and communities. At our Hessjøgruva project in
central Norway, we are looking
forward to be able to continue moving the project along the path
towards a maiden NI 43-101-compliant Mineral Resource Estimate and
initial development-related studies and permitting."
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 European base and battery metals
projects.
In Norway, the Company's focus
is on: i) the advanced exploration-stage Hessjøgruva copper-cobalt
project and the adjacent Kongensgruve and Kjøli projects in the
northern Røros mining district, Trøndelag province, ii) the
discovery of satellite high-grade copper-cobalt deposits around the
past-producing Løkken copper mine, Trøndelag province, and iii) the
discovery of new copper-cobalt deposits in the former
Vaddas-Birtavarre mining district of northern Norway.
The Company is also exploring the Northern Finland Gold-Copper
(NFGC) project in the Central Lapland Greenstone Belt, together
with JV partner Cullen Resources Ltd (ASX: CUL). A total of seven
exploration permit applications are awaiting approval at NFGC,
including the priority Killero Cu-Au target. In central
Finland, the Company´s focus is on
the discovery of lithium and rare-earth element deposits at both
its Perho reservation, in addition to an extensive package of
properties in the broader Keliber district through a JV with Hilo
Mining (TSX: Hilo).
Capella also retains exposure to exploration success in precious
metals projects through its active Canadian Joint Ventures with
Prospector Metals Corp. (TSXV: PPP) at Savant (Ontario) and Agnico Eagle Mines Ltd (formerly
Yamana Gold Inc.)(TSX/NYSE: AEM) at Domain (Manitoba). The Company also holds a 49%
interest in the Sierra Blanca low sulfidation gold-silver project
in Santa Cruz, Argentina, which is currently being explored
by Austral Gold Ltd (TSXV: AGLD; ASX: AGD).
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