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Boreal Metals Corp. - Announcing Execution of Definitive Agreement to Acquire Cobalt Project in Norway
Boreal Metals Corp. - Announcing Execution of Definitive Agreement to Acquire Cobalt Proje...
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[{"type":"text","content":"\n\n\n\nBoreal Metals Corp. - Announcing Execution of Definitive Agreement to Acquire Cobalt Project in Norway\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 16, 2018\n\n\n\nVANCOUVER, Jan. 16, 2018 /CNW/ - Boreal Metals Corp. (\"Boreal\" or the \"Company\") (TSXV:BMX) is pleased to announce the execution of a definitive agreement with EMX Royalty Corporation (\"EMX\") (NYSE American: EMX, TSXV: EMX) for the acquisition of the Modum Project (\"Modum\" or the \"Project\").  The Project surrounds southern Norway's historic Skuterud Mine (also known as the Modum Mine), which was Europe's largest and highest grade producer of cobalt though the nineteenth century.  \n\n\"The Modum Project includes an impressive 12,000 Ha with 12 kilometers of cobalt prospective geology, with stand-alone mining potential,\" stated President and CEO Karl Antonius.  \"Boreal is excited about the timely acquisition of a high grade cobalt project within an emerging battery production sector in the Nordic Region.\"\n\n\n\nThe Nordic Region and Battery Metals Market\n\nThe Nordic region is host to 26 active mines and seven smelters.  This region has excellent infrastructure including deep water ports with year round ice-free harbours, extensive roads, rail and access to skilled workforce, mining universities, and support services. \n\nNorthvolt AB (www.northvolt.com) has selected a location in Sweden to build Europe's biggest battery factory.  Northvolt CEO Peter Carlsson, a former Tesla executive, suggests that the Swedish plant will rival the scale of the U.S. electric carmaker's Gigafactory in the Nevada desert, targeting an annual cell production equivalent to 32 gigawatt-hours by 20231.  Northvolt has announced that that they plan on utilizing as much locally sourced materials as possible for battery production2.\n\nCobalt has many uses, but over half of the total global demand comes from the chemical sector which uses cobalt, among other applications, for metallic cathodes in rechargeable batteries3.  Specifically, lithium ...