VANCOUVER, BC, Feb. 28, 2022 /PRNewswire/ - Capella Minerals Ltd. (TSXV: CMIL) (FRA: N7D2) (the "Company" or "Capella") is pleased to report that a high-resolution drone magnetic survey has commenced on the Katajavaara-Aakenus Joint Venture ("JV") project in northern Finland (Figures 1 & 2). The drone magnetic survey will cover the combined 200 square kilometer project area, and is being undertaken by Finnish contractor Radai Ltd. The drone magnetic data set will allow the Company to obtain a greater understanding of both the basement geology and known gold-copper occurrences at Katajavaara-Aakenus, including potential extensions to Outokumpu Oy's former Saattopora gold-copper mine.
Capella currently holds a 70% interest in the Katajavaara and Aakenus JV, in accordance with the terms of the agreement signed with ASX-listed Cullen Resources Ltd (ASX: CUL)("Cullen") and announced by the Company on August 24, 2021.
Figure 1. Location of the Katajavaara-Aakenus project, together with known gold-copper deposits and occurrences within the district. The Company's initial priority target areas are also indicated.
Figure 2. Drone equipment being utilized for the high-resolution magnetic survey.
About the Katajavaara-Aakenus Project
The Katajavaara-Aakenus project covers a total area of 200 square kilometres and is located in the highly-productive Central Lapland Greenstone Belt ("CLGB") of northern Finland. The CLGB contains numerous occurrences of both gold and base metals, with significant recent discoveries including Ikkari (Rupert Resources) and Aamurusko (Risti-Launi; Aurion Resources)1.
The Company's initial focus will be on five priority gold and/or copper target areas (see also Company News Release dated December 7, 2021):
- potential extensions to Outokumpu Oy's Saattopora former gold-copper mining operation, which is entirely surrounded by the Aakenus project;
- potential extensions to S2 Resources' Aakenusvaarus gold project, which is bounded to the E by the Katajavaara project and to the W by Aakenus;
- the Killero copper-gold ("Cu-Au") anomaly, where exceptional Cu-Au values were returned from historical Base of Till ("BoT") drilling by AngloAmerican but never followed up with diamond drilling;
- the Riikonkoski-Lonnakko-Kangas cluster of copper occurrences located along the eastern boundary of the Aakenus project;
- the Kittilan orogenic gold occurrence located in the southern part of the property.
The Company's projects also flank the S2 Resources-Kinross JV area at Home, where Kinross has the option to earn-in to a 70% interest in Home in return for an exploration investment of USD 9.5M (see S2 Resources' News Release dated June 3, 2021).
| 1 References made to nearby mines and analogous deposits provide context for the Katajavaara-Aakenus project but are not necessarily indicative that these projects host similar tonnages or grades of mineralization. |