VANCOUVER, BC, May 17, 2022 /PRNewswire/ - Capella Minerals Ltd. (TSXV: CMIL) (OTCQB: CMILF) (FRA:N7D2) (the "Company" or "Capella") is pleased to report that it has completed a 4,000-line km high-resolution drone magnetic survey over the Katajavaara-Aakenus project in northern Finland. Interpretation of the data derived from this survey is well underway, with the Company's focus being the evaluation of potential extensions to Outokumpu Oy's former Saattopora gold-copper mining operation and the significant historical gold-copper Bottom of Till ("BoT") geochemical anomalies generated by AngloAmerican in the Killero area (Figure 1).
The Katajavaara-Aakenus project is located along the Sirkka Thrust, a well-mineralized regional structural corridor that hosts numerous recent discoveries such as Rupert Resources' Ikkari and Aurion Resources' Helmi projects1. Capella currently holds a 70% interest in the Katajavaara-Aakenus Joint Venture ("JV"), in accordance with the agreement signed with ASX-listed Cullen Resources Ltd (ASX: CUL)("Cullen") and announced by the Company on August 24, 2021.
Eric Roth, Capella's President and CEO, commented: "The high-resolution drone magnetic data has greatly improved our understanding of the geological controls on known gold-copper occurrences and "bottom of till" anomalies at Katajavaara-Aakenus. We look forward to completing the interpretation of these data, with a view to then rapidly prioritizing areas for conversion to full exploration licences and then moving down the path to discovery drilling. I look forward to keeping markets informed on our progress."
Priority Targets Defined on the Katajavaara-Aakenus Project
Six priority target areas have been delineated from the high-resolution drone magnetic survey:
- Two potential extensions to Outokumpu Oy's former Saattopora gold-copper mine; a northwestern extension at Saattopora West (Aakenus), and a southeastern extension at Katajavaara. At Saattopora West, new exploration targets include a direct western extension of the Sirkka Thrust plus a previously unexplored NW-trending splay of the same Sirkka Thrust.
- The Killero copper-gold target area (Figure 2), where exceptional copper-gold values were returned from historical Bottom of Till ("BoT") sampling by AngloAmerican but never followed-up with core drilling. Anomalous Cu values (the so-called "95th percentile") for BoT samples in the Central Lapland Greenstone Belt are considered by the Finnish Geological Survey ("GTK") to be approximately 110 parts per million ("ppm"); the Killero area contains significant intervals of >110ppm Cu (and a maximum value of 5,962 ppm)2. The elevated Cu values, which are also often associated with elevated Au values, appear to be associated with a NE-trending dextral fault/shear system which cross-cuts interpreted mafic (tholeiitic) volcanic rocks units.
- The Western Banded Iron Formation ("BIF") + Au target: interpreted to be deformed BIF with potential for high-grade gold mineralization hosted in fold hinges. Conceptual model for this target is comparable to that developed by the Company's for its Savant Lake JV in Ontario, Canada.
- the Eastern Structural Corridor - a complex, broadly NW-trending structural corridor with potential for shear-zone hosted gold deposits.
- the Riikonkoski-Lonnakko-Kangas cluster of copper occurrences located along the eastern boundary of the Aakenus project. These 3 occurrences are reported by the GTK to be massive sulfide type deposits; however, field reviews of these areas have yet to be undertaken by the Company.
| 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. |
| 2 Historic geochemical results quoted for Killero are derived from GTK (Geological Survey of Finland) datasets. Whilst Capella has not performed sufficient work to verify the published data reported, the Company believes this information to be considered reliable and relevant. |
Upcoming Work Program
Capella's expected work program for Katajavaara-Aakenus includes:
- Finalization of the interpretation of the high-resolution drone magnetic data set.
- The infilling of two small remnant areas within the original planned survey area - these areas will be flown during August, 2022.
- Defining priority areas within the Aakenus reservation for conversion to exploration licenses. The Aakenus reservation area provides the JV partners with priority staking privileges until December, 2022.
- Design (and obtain permits for) follow-up winter 2022/2023 BoT geochemical surveys, with these to be followed-up by discovery core drilling at both Killero and other targets.
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