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15/07/2024
Mining News

European Energy Metals Commences Finnish Pegmatite Project Phase I Exploration

European Energy Metals announced commencement of the 2023 Phase I Exploration Program at its Lithium-Cesium-Tantalum (“LCT”) and Rare Earth Element (“REE”) Finnish Pegmatite Project, consisting of five exploration concessions covering 2,300 square kilometers in central and southern Finland.

Phase I will consist of mapping and sampling of the documented pegmatite occurrences throughout the Finnish Pegmatite Project. Prospecting for new occurrences will also form part of the program. Resourceful Geoscience Solutions Inc., a Canadian consulting firm with in-country experience, will undertake the program, with assistance from Finnish company GeoPool OY.

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“We are very pleased to commence 2023 exploration, with Phase I focussed on evaluating Finnish Pegmatite Project to highlight high priority areas for subsequent permitting for Phase II drilling,” stated European Energy Metals CEO Jeremy Poirier. “European Energy’s objective remains H1 2024 drilling as we continue to work toward developing the Finland Pegmatite Project portfolio into one of Europe’s major sources of lithium and REE’s, critical metals to the green future,” he continued.

The exploration crews plan to work north to south commencing with the Nabbia concession, through Lappajarvi East and West, to Katalia and finally wrapping up at the Kovelo concession. Samples will be sent to the ALS Minerals geochemical prep lab in Sodankylä, Finland. The samples will be analyzed with procedure ME-MS89L, utilizing a sodium peroxide fusion and ALS’s Super Trace ICP-MS methodology.

Pursuant to an earn-in agreement with Capella Minerals Ltd., European Energy has the right to earn an 80% interest in the Finnish Pegmatite Project by issuing 1,750,000 shares, paying Cdn$500,000 and incurring Cdn$2,500,000 dollars in exploration expenditures staged over a 4 year earn in period. A detailed assessment of the historic and government exploration data compiled by the Finnish Geological Survey (“GTK”) identified a series of permissive tracts for LCT pegmatites. The concessions comprising the Finnish Pegmatite Project were identified as a result of this pegmatite research.

 

Source: European Energy Metals

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