VANCOUVER, BC, Sept. 8,
2022 /CNW/ - Capella Minerals Ltd. (TSXV:
CMIL) (OTCQB: CMILF) (FRA: N7D2) ("Capella" or the "Company") is
pleased to advise that it has filed an independent National
Instrument 43-101 ("NI 43-101") technical report on the Company's
high-grade Hessjøgruva copper-zinc-cobalt massive sulfide ("VMS")
project in central Norway. This
report represents the first NI 43-101 compliant technical report to
be completed on the Hessjøgruva project and provides a detailed
review of all exploration activities undertaken to date (including
the historical diamond drill programs that were undertaken during
the 1970's).
A copy of the technical report is available under Capella's
profile on SEDAR (www.sedar.com) and on the Hessjøgruva project
page of the Company's website (www.capellaminerals.com).
Eric Roth, Capella's President
and CEO, commented: "The Hessjøgruva technical report provides
Capella with an extremely solid base from which to plan and execute
further work programs. We currently view Hessjøgruva as being a
cornerstone asset in a broader copper-zinc-cobalt VMS district
which includes two other 100% Capella-owned projects – the adjacent
Kongensgruve concessions, which host the former mines at Rødalen
and Kongensgruve plus a former copper concentrating facility and
tailings dam, and the nearby Kjøli project, where 4 priority target
areas have been delineated for drill testing. I look forward to
keeping the market updated as we advanced our projects in the
Hessjøgruva district".
Qualified Persons and Disclosure
Statement
The independent NI 43-101 technical report for the Hessjøgruva
project has been completed by GeoVista Aktiebolag ("GeoVista"). All
other technical information in this news release relating to the
Kongensgruve and Kjøli projects 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 copper(-zinc-cobalt) and
gold deposits. With respect to base and battery metals projects,
the Company's current focus is on: i) advancing its
recently-acquired Hessjøgruva project in central Norway, and ii) the discovery of further
high-grade VMS-type deposits in district-scale land positions
around the past-producing Løkken (Løkken Verk District) and Kjøli
(northern Røros District) copper mines.
The Company's precious metals focus is on the discovery of
high-grade gold deposits on the Katajavaara-Aakenus JV in
Finland, its 100%-owned Southern
Gold Line Project in Sweden, and
its active Canadian Joint Ventures with Prospector Metals Corp
(TSXV: PPP) at Savant (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 divestiture in
Santa Cruz, Argentina.
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.
References
Alviola, R. 2004, Oriveden Seppälä-Vittaniemi alueen
pegmatiittitutkimus. Geologcal Survey of Finland, Report M19/2141/2004/1/85. 9p. 60
app. (In Finnish).
Eilu, P.(ed.) 2012. Geological Survey of Finland, Special Paper 53,224.
Lahti, S.I. 1981, On the granitic pegmatites of the Eräjärvi
area in Orivesi, southern Finland.
Geological Survey of Finland,
Bulletin 314, 82p.
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SOURCE Capella Minerals Limited