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Boreal Metals Acquires Additional Historic Cobalt Property in Sweden Bringing Portfolio to Total of 6 Historic Nordic Properties - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2018) - Boreal Metals (TSXV: BMX) ...
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[{"type":"text","content":"Boreal Metals Acquires Additional Historic Cobalt Property in Sweden Bringing Portfolio to Total of 6 Historic Nordic Properties - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - February 13, 2018) - Boreal Metals (TSXV: BMX) (TSXV: BMX.WT) has executed a definitive agreement with EMX Royalty Corporation (TSXV: EMX) (NYSE MKT: EMX) to acquire an additional cobalt property in Sweden. Boreal Metals, through its newly created, wholly owned subsidiary, Boreal Energy Metals Corp. is acquiring the 2,383-hectare Guldgruvan cobalt project.InvestmentPitch Media has produced a \"video\" which provides a brief overview of this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Boreal\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_ov09ny4i/Boreal-Metals-TSXV-BMX-acquires-additional-historic-Cobalt-property-in-SwedenWith 6 properties now in its portfolio, this latest acquisition follows the company's growth strategy of acquiring past producing projects, that have undergone only limited modern exploration.The project is accessible year-round, with robust infrastructure including paved roads, power, and skilled labour in nearby municipalities. Cobalt, copper, and nickel were mined on the property between the 1600's to 1750's, which is noted for the region to first discover and recognize nickel as an element in 1751.The exploration license contains numerous historical workings, test pits and shallow drill holes, in addition to 5 major mining sites, including the historic Los Cobalt Mine, one of the better known historic cobalt producers in the region. The cobalt-bearing occurrences define a series of parallel north-northwest trending zones on mineralization that extend for at least 6 kilometres across the claim package. These samples from dump material on the property show cobalt, copper and nickel mineralization, with gold, silver, zinc, and lead also present in zones of mineralization. Under the terms of the acquisition, Boreal Energy will issue 5.9% equity ownership to EMX Royalty Corporation. Boreal Energy will have the continuing obligation to issue additional shares at no cost to allow EMX to maintain its 5.9% interest until the subsidiary has raised CDN$3 million in equity. EMX will also be granted a NSR and a small annual adv...