Boreal Metals Corp. (TSXV:BMX) is pleased to announce the execution of a definitive agreement with EMX Royalty Corporation (NYSE American: EMX, TSXV: EMX) for the acquisition of the Mjövattnet and Njuggträskliden cobalt and nickel projects by Boreal Energy Metals Corp., a newly created subsidiary of Boreal.
The Mjövattnet and Njuggträskliden Projects are located in the prolific Skellefteå mining area in Northern Sweden. Mineralization is comprised of massive sulfide bodies enriched in nickel, copper, and cobalt, with both properties hosting historic resources. Platinum group elements and gold are also known to be enriched in the zones of mineralization, but have not been systematically assessed, representing additional exploration potential. The Projects have undergone only limited modern exploration which follows Boreal’s development plans to acquire past producing projects and apply modern techniques.
“With the acquisition of Mjövattnet and Njuggträskliden, Boreal is executing its exploration project growth strategy by building on an excellent foundation of base and energy metals exploration projects in Scandinavia,” stated Karl Antonius, President and CEO. “As Sweden and the European Union look towards the future needs for innovation and strategic metals, our projects with historic production have the potential to be part of the production chain. The acquisition of projects continues to deliver significant benefits to Boreal’s shareholders and partners.”
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