Recent Breaking News: European Electric Metals Engages Nordmin Group of Companies | Financial Buzz

Recent Breaking News: European Electric Metals Engages Nordmin Group of Companies

European Electric Metals Inc. (OTC: EVXXF) (TSX-V: EVX) is pleased to announce that it has engaged the services of the Nordmin Group of Companies (“Nordmin”) to undertake a site inspection and to comment on the apparent condition of the surface and underground infrastructure and equipment of Skroska mine in Albania. The Company expects the technical team of Nordmin to be on site in December 2018.

The Nordmin Group of Companies is a 100% North American owned and operated provider of comprehensive EPC and EPCM solutions worldwide to industrial sectors spanning resource and project definition through construction and site closure.   They provide a diverse portfolio of sustained services in engineering, procurement, contract management, and construction execution for a complete and co-ordinated deliverable.  The group includes Nordmin Engineering, Nordmin Constructors and Nordmin Operators, and is based in Thunder Bay, Ontario with offices in Sudbury, Ontario, Kamloops, British Columbia and Salt Lake City, Utah.  

The site inspection will allow Nordmin to comment on whether the existing underground workings and mine equipment appear to be able to be used if the operations at the Skroska mine are restarted at present capacity of approximately 200 tonnes per day (“tpd”) or what would be required to support increased production if its capacity is expanded to a certain level or levels. 

The Skroska Mine

The Skroska deposit had a historic resource of 22.4 million tonnes of laterite grading 0.99% Ni, 49.13% Fe (not 50% Fe as earlier reported) and 0.065% Co. The resource is historic in nature (see note below). The laterite deposit is estimated to range from 2 meters to 10 meters in thickness and to average approximately 6 meters thick. It occurs between the ultramafic rocks (serpentinized) below and limestone on top or as a capping. The limestone is a competent rock which makes it an excellent candidate for use as a natural roof for the open stope underground mining method employed in the mine historically and proposed for the future. Records indicate that approximately 1.15 million tonnes of laterite ore was mined between 1985-1990 (by the state-owned mining enterprise) and between 2008-2013 (by a local private company). The Company is acquiring the Skroska mine from the local company as reported previously (see EVX news release dated October 11, 2018).

Based on the visits completed by EVX staff up to its recent sampling program, the mine openings (haulage, development and production areas) were observed to be accessible and free of major blockages. Electrical power supply to the underground areas was available while major mine equipment both inside the underground works and on the surface were observed to appear to be in good condition and are reported to appear to be operational.

Note: The tonnage and grade estimates stated above are historic in nature and were obtained from the records at the Albanian Geological Survey. The estimates done, using Russian Style Polygon method, are roughly equivalent to the National Instrument 43-101 inferred category. No qualified person (within the meaning of NI 43-101) has done sufficient work to classify the historical estimates as current mineral resources. EVX considers the historical estimates relevant in guiding exploration efforts and planning although EVX is not treating the historical estimates as current mineral resources. EVX will need to undertake a comprehensive review of available data, and to complete further drilling, to verify the historic estimates and to be able to classify them as current resources.  There is no assurance that such verification or classification can or will be completed.

Cobalt and Nickel in Skroska

Skroska was mined in the past for nickel and iron. Cobalt (“Co”) grade was estimated to be very low (0.065% Co) and was not historically recovered with the nickel-iron products. However, in recent sampling by EVX, the cobalt grade in such samples was higher, being up to 0.54% Co with higher nickel (“Ni”) grades of up to 1.92% Ni (see Company news release dated October 11, 2018). EVX aims to be able to recover cobalt and nickel and take advantage of the primary roles these metals have in the electric vehicle revolution.

Jose Mario Castelo Branco, EuroGeol, a Qualified Person within 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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