VANCOUVER, BC, Sept. 12,
2022 /CNW/ - Capella Minerals Ltd. (TSXV:
CMIL) (OTCQB: CMILF) (FRA: N7D2) ("Capella" or the "Company")
is pleased to announce that it has applied for an Exploration
Reservation ("Perho") covering an area of 50 sq km over the
Eräjärvi Lithium-Cesium-Tantalum ("LCT") pegmatite field in
southern Finland. The Perho Reservation (VA2022:0056 and shown in
green in Figure 1) covers the former Seppälä lithium mine and lies
adjacent to the former Viitaniemi and Juurakko
feldspar-quartz(-lithium) mines, which are reported by the Finnish
geological survey ("GTK") to have ceased production in 1965 and
1935, respectively. Significantly, more than 70 pegmatite dykes,
enriched in B, Be, Li, Nb, Sn and Ta, are reported from the area
(Eilu 2012, Lahti 1981, Aviola 2004). Little modern systematic
exploration for lithium deposits has been undertaken in the
area.
The new Perho Reservation has been applied for by local
subsidiary Cullen Finland Oy, which
is currently owned 70:30 by Capella and ASX-listed Cullen Resources
Ltd (ASX: CUL). Cullen Finland Oy is
also owner of the Katajavaara-Aaeknus gold-copper project in the
highly-prospective Central Lapland Greenstone Belt.
Figure 1. Perho reservation over the Eräjärvi LCT pegmatite
field.
Eric Roth, Capella's President
and CEO, commented: "The application for the Perho Reservation over
the Eräjärvi lithium pegmatite field has the potential to provide
Capella with further exposure to the metals required for
Europe's green energy transition
and energy storage. LCT pegmatites are important global sources of
lithium, cesium, and tantalum as well as other by-products. In
conjunction with our high-grade copper-cobalt assets in
Norway, the Company is well placed
to participate in the global electrification and decarbonization
process. I look forward to keeping the market updated on progress
at Perho".
Qualified Persons and Disclosure
Statement
The technical information in this news release relating to the
Perho lithium 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
(AusIMM) and is a Fellow of the Society of Economic Geologists
(SEG). 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., FAusIMM
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 base and battery metals projects,
the Company's current focus is on i) advancing its
recently-acquired Hessjøgruva project and the adjacent Kongensgruve
and Kjøli projects in the northern Røros copper mining district of
central Norway, as well as ii) the
discovery of further high-grade VMS-type deposits in a
district-scale land position around the past-producing Løkken
(Løkken Verk District) copper mine. The recent Perho reservation
application over the Eräjärvi pegmatite field is ultimately
expected to provide the Company with further exposure to battery
metals, including lithium, cesium, and tantalum.
The Company's precious metals focus is on the discovery of
high-grade gold deposits on the Katajavaara-Aakenus JV in
Finland, its active Canadian Joint
Ventures with Prospector Metals Corp (TSXV: PPP) at Savant
(Ontario) and Yamana Gold Inc. at
Domain (Manitoba), and its
100%-owned Southern Gold Line Project in Sweden. 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 Capella'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.
References
Alviola, R. 2004, Oriveden Seppälä-Vittaniemi alueen
pegmatiittitutkimus. Geologcal Survey of Finland, Report
M19/2141/2004/1/85. 9p. 60 app. (In Finnish).
Eilu, P.(ed.) 2012. Geological Survey of Finland, Special
Paper 53,224.
Lahti, S.I. 1981, On the granitic pegmatites of the Eräjärvi
area in Orivesi, southern Finland. Geological Survey of Finland,
Bulletin 314, 82p.
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SOURCE Capella Minerals Limited