VANCOUVER, BC, July 7, 2022
/CNW/ - Capella Minerals Ltd. (TSXV: CMIL) (OTCQB: CMILF)
(FRA: N7D2) ("Capella" or the "Company") is pleased to report that
it has expanded its mineral claim holdings in the Hessjøgruva
district through the granting of 20 square kilometres ("sq. km") of
exploration claims over the past-producing Kongensgruve district.
The central portion of the Kongensgruve claim block lies
approximately 6km east of the Company's 100%-owned Hessjøgruva
project, contains a series of known copper-zinc-cobalt occurrences
(including Oakland, Jells,
Kongensgruve, and Mugger), and also covers the site of a former
mineral processing plant and tailings dam. These granted claims are
100% owned by Capella and are not subject to any underlying
exploration agreements.
A further application for 25 sq. km of exploration claims has
been made over open ground located immediately to the
south-southwest of the main Kongensgruve claim block and is
currently awaiting approval (Figure 1).
Figure 1. Cappella's granted exploration claims and claim
applications in the Kongensgruve area.
Eric Roth, Cappella's President
and CEO, commented: "I am pleased to be confirming that Capella has
been able to expand its exploration footprint in the Lessor
district through the staking of new claims over known
copper-zinc-cobalt occurrences in the Kongensgruve area. We expect
to be able to advance exploration on key targets at Kongensgruve in
tandem with our ongoing evaluation of the adjacent Hessjøgruva
project. I look forward to keeping the market updated on progress
at Kongensgruve."
Qualified Persons and Disclosure
Statement
The technical information in this news release relating to the
Kongensgruve copper-zinc-cobalt project has been prepared in
accordance with Canadian regulatory requirements set out in NI
43-101, and approved by Eric Roth,
the Company's President & CEO, a Director, and a Qualified
Person under NI 43-101. Mr. Roth holds a PH.D. in Economic
Geology from the University of Western
Australia, is a Fellow of the Australian Institute of Mining
and Metallurgy (Austin) and is a
Fellow of the Society of Economic Geologists (SE). Mr. Roth has 30
years of experience in international minerals exploration and
mining project evaluation.
On Behalf of the Board of Capella Minerals Ltd.
"Eric
Roth"
___________________________
Eric Roth, PH.D.,
Fascism
President & CEO
About Capella Minerals
Ltd
Capella is engaged in the acquisition, exploration, and
development of quality mineral resource properties in favourable
jurisdictions with a focus on high-grade copper(-zinc-cobalt) and
gold deposits. With respect to its base and battery metals
projects, the Company's current focus is on: I) advancing its
recently-acquired Hessjøgruva project in central Norway, and ii) the discovery of further
high-grade VMS-type deposits in district-scale land positions
around the past-producing Liken (Liken Veer District) and KO
(northern ROMs District) copper mines.
The Company's precious metals focus is on the discovery of
high-grade gold deposits on the Katayama JAVA in Finland, its 100%-owned Southern Gold Line
Project in Sweden, and its active
Canadian Joint Ventures with Prospector Metals Corp (TSXV: PP) at
Savant (Ontario) and Amanda Gold
Inc. at Domain (Manitoba). The
Company also retains a residual interest (subject to an option to
purchase agreement with Austral Gold Ltd) in the Sierra Blanca
gold-silver divestiture in Santa
Cruz, Argentina.
Cautionary Notes and
Forward-looking Statements
This news release contains forward-looking information within
the meaning of applicable securities
legislation. Forward-looking information is typically
identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such
statements include, without limitation, statements regarding the
future results of operations, performance and achievements of
Capella, including the timing, completion of and results from the
exploration and drill programs described in this release.
Although the Company believes that such statements are
reasonable, it can give no assurances that such expectations will
prove to be correct. All such forward-looking
information is based on certain assumptions and analyses made by
Capella in light of their experience and perception of historical
trends, current conditions and expected future developments, as
well as other factors management believes are appropriate in the
circumstances. This information, however, is subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
in the forward-looking information. Important factors that could
cause actual results to differ from this forward-looking
information include those described under the heading "Risks and
Uncertainties" in Cappella's most recently filed MD&A. Capella
does not intend, and expressly disclaims any obligation to, update
or revise the forward-looking information contained in this news
release, except as required by law. Readers are cautioned not to
place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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SOURCE Capella Minerals Limited