Breaking News: European Electric Metals Provides Update on Underground Work Program

  • existing underground workings in excess of 11,000 metres
  • 200 samples to be taken from three mining blocks

European Electric Metals Inc. (OTC: EVXXF) (TSX-V: EVX) is pleased to provide an update on its underground work program at the Skroska Nickel-Cobalt Mine.

EVX geologists have arrived onsite and have commenced an underground sampling program, being conducted at close spacings within three separate mining blocks (not two block as earlier reported), the largest block measuring 110m x 60m (not 250m x 45m as earlier reported).

Approximately 200 channel samples are expected to be collected from pillars of the developed mining blocks, primarily from Mine Level-815 and Mine Level-850 (see company website for location of these areas http://www.europeanelectricmetals.com/).

The purpose of this underground program is to collect data to produce a NI 43-101 compliant resource estimate for these three mining blocks which are an initial area of focus for the company. 

Also, concurrent with the sampling program, the company continues the evaluation of equipment and infrastructure at the property. There are approximately 11,000 metres of underground workings and the underground has been deemed by the company to be in excellent condition.

There is electricity throughout the mine and the track system and air compression systems are in good working order. There is no water issue and the mine is well ventilated with no mechanized ventilation system in place. There are no rockfalls in any areas of the mine. The mine is serviced via hydro-electric power (the mine is on the power grid) and has paved road access nearby the property area with well-maintained gravel roads to the site (approximately 6 kms). The site also has good office infrastructure and various storage/outbuildings.

There are two underground substations within the mine, each having a capacity of 180 KVA. The surface substation has a capacity of 1000 KVA.

It is anticipated that the sampling program will be completed within the next 30 days, during which time the Company also intends to engage an engineering firm to conduct geological model and engineering studies focused on restarting operation.

EVX CEO, Fred Tejada, states, “Elevated cobalt levels at Skroska describes, in our view, a new discovery within an existing mine. We believe this new cobalt discovery has the potential to positively impact the economics of the project.” 
Jose Mario Castelo Branco, EuroGeol, a Qualified Person under the meaning of Canadian National Instrument 43-101 and Chief Geologist of the Company is responsible for the technical content of this news release.

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1 Comment
  1. Paul Donohue 1 month ago
    Reply

    hopefully this initial assessment is right. Excess cobalt deposits would be amazing

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