Issue link: http://resourceworld.uberflip.com/i/937377
58 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 1 8 1.7% lead, 0.7%n to 4% copper, 13 to 35 g/t silver, and 0.5 to 4 g/t gold, varying between different mineralization types. New geologic interpretations, geophysical surveys and reconnaissance drilling by EMX Royalty identified multiple exploration targets, near the his- toric workings. Boreal also holds the Adak VMS project and the Burfjord iron ore-copper-gold project in Sweden and the Tynset VMS project in Norway. The company recently signed a definitive agreement with EMX Royalty Corp. [EMX-TSXV, NYSE AMERICAN] to acquire the Modum Project which surrounds southern Norway's historic Skuterud Mine (also known as the Modum Mine) – Europe's largest and highest grade producer of cobalt though the nineteenth century. First Quantum Minerals Ltd. [FM-TSX] is a major copper producer with operations on several continents. In Spain, the company has a 100% interest in the Las Cruces open pit copper mine located 20 km northwest of Seville which produced 73,643 tonnes of cathode copper in 2106. Production for 2017 is expected to be approximately 72,000 tonnes. Mine life is expected to last until 2022. In central Finland, First Quantum has a 100% interest in the Pyhasalmi underground copper-zinc mine. During 2016, 14,795 tonnes of copper and 20,800 tonnes of zinc were produced at an average grade of 1.1% copper and 1.7% zinc. The current esti- mated mine life is six years. Hannan Metals Ltd. [HAN-TSXV] recently reported encour- aging drill results from the resource expansion program at its 100%-owned Kilbricken zinc-lead-silver-copper deposit in County Clare, Ireland. The current drilling program follows last July's maiden resource estimate. The maiden mineral resource for Kilbricken ranked Kilbricken as one of the top 10 base metal deposits discovered in Ireland by tonnes and grade. Total indicated resources were calculated as 2.7 million tonnes at 8.8% zinc equivalent, including 1.4 million tonnes at 10.8% ZnEq and total inferred mineral resources of 1.7 million tonnes at 8.2% ZnEq, including 600,000 tonnes at 10.4% ZnEq. Importantly, as hole DH218 shows, the initial resource is expandable at all scales, from near resource to prospect scale. Significant mineralization, demonstrating thicknesses and grades consistent with the resource areas at Kilbricken, has been intersected in all four step-out resource expansion holes. These holes have extended mineralization up to 250 metres and 200 metres from the Chimney and Fort resource areas, respectively. • DH 17-3679-219 (DH219), a 50-metre step-out hole from the Fort Zone, intersected massive sulphide mineralization within a total downhole thickness of 92.9 metres. Highlights included: • 8.4 metres at 8.0% zinc equivalent (ZnEq) (6.2% zinc, 0.9% lead, 15 g/t silver and 0.35% copper), including 1.4 metres of 20.8% ZnEq; 12.8 metres of 5.1% ZnEq, including 0.9 metres of 17.8% ZnEq. • DH 17-3679-220 (DH220), the first diamond drill hole to test along strike from the Chimney Zone, was a 75-metre step-out. Highlights included 3.3 metres of 10.4% ZnEq, including 1.0 metre of 18.6%. As of late December, five holes have been completed and one in progress for a total of 4,160 metres. A 6,500-metre resource expansion drill program is continuing, with two drill rigs now at site to test along strike and down-dip from the mineral resource area. Drilling will continue through to the first quarter of 2018. The drill program is now progressing to larger 300-to-500-metre step-outs from existing resources, targeting additional base metal mineralized bodies adjacent to Kilbricken. The company has also completed a 40.6 line-km 2-D seismic survey. Lundin Mining Corp. [LUN-TSX; LUMI-SWEDEN] has two producing mines in Europe. At the 100%, indirectly-owned, Zinkgruvan zinc-lead-copper-silver mine in south-central Sweden, the 1350 Zinc Expansion Project was commissioned on schedule and budget in mid-2017 increasing mill capacity to approximately 1.35 million tonnes per annum (1.17 million tonnes of zinc-lead ore and 0.18 million tonnes of copper ore). At the 100% indirectly owned Neves-Corvu copper-zinc-lead mine in southern Portugal, plans are to double zinc production by 2020 through metallurgical improvements and better recov- eries. Proven and probable reserves stand at 29,079,000 tonnes grading 2.4% copper, 0.7% zinc, 0.2% lead and 34 g/t silver. During 2013, Lundin Mining acquired, through a newly formed joint venture with Freeport-McMoRan Inc. [FCX-NYSE], a large scale cobalt chemical refinery located in Kokkola, Finland Alpala Maiden Resource of 1.08 Bt @ 0.68% CuEq 430Mt Indicated @ 0.8% CuEq (2.3 Mt Cu, 6.0Moz Au) 650Mt Inferred @ 0.6% CuEq (2.9 Mt Cu, 6.3 Moz Au) High grade core of 70Mt @ 1.8% CuEq Indicated and 50Mt @ 1.8% CuEq Inferred 15% interest in Cascabel Cu-Au project in Ecuador financed through feasibility, plus ~10% shareholding in Cascabel JV partner SolGold Plc (for total ~23% interest in Cascabel) 2 projects under JV, and 3 drill ready projects Strategic Exploration Alliance with Ecuador's State Mining Company, ENAMI EP EUROPE