VANCOUVER, BC, July 3, 2026 /CNW/ - Capella Minerals Ltd. (TSXV: CMIL) (OTC Pink: CMILF) (FRA: N7D) ("Capella" or the "Company") is pleased to announce the commencement of a reconnaissance diamond drill program at the Killero W gold-copper project in the Central Lapland Greenstone Belt, Northern Finland. The Killero W project is one of five projects that form part of the Tümad Madencilik Sanayi Ve Ticaret A.S. ("Tümad") earn-in Joint Venture ("JV") for Northern Finland (see Company News Release dated September 2, 2025), with the current drill program at Killero W following on from the recently completed 2,008m / 9 hole diamond drill program at Killero E.
The Northern Finland projects (Killero E, Killero W, Jolhikko, Seiseunselka, Saattopora W) are located 40km SW of Agnico Eagle Mines Ltd's ("Agnico"; TSX: AEM; NYSE: AEM) producing Kittila Gold Mine1, with all five projects now surrounded by Agnico following the successful closing of Agnico's acquisition of Rupert Resources Ltd (TSX: RUP) on June 16, 2026 (Figure 1).
Figure 1. Location of the Killero W gold-copper project in Northern Finland, together with the project areas acquired by Agnico as part of its consolidation of the Central Lapland Greenstone Belt. Agnico Eagle Mines Limited - AGNICO EAGLE TO CONSOLIDATE FINLAND'S CENTRAL LAPLAND GREENSTONE BELT IN THREE SEPARATE TRANSACTIONS
1 References made to nearby mines and analogous deposits provide context for the Killero W project but are not necessarily indicative that this project hosts similar tonnages or grades of mineralization. |
Highlights
A reconnaissance diamond drill program has been initiated at the Killero W gold-copper project. Drilling will be undertaken in two initial target areas – PKW-1 and PKW-2 – defined on the basis of: i) Base of Till ("BoT") gold-copper anomalies derived from historical Anglo American plc regional geochemical surveys, ii) strongly magnetic host rocks (interpreted to be either fine-grained meta-gabbro or mafic metavolcanic rocks and favourable host rocks for gold-copper mineralization), and iii) cross-cutting NE-trending fault/shear zones (Figure 2; see also Company New Releases dated May 17, 2022 and May 30, 2023).
The current drill program (Figure 3) represents the first diamond drilling to be undertaken in the Killero W project area.
Capella currently owns an 80% interest in the five Northern Finland projects, with the remaining 20% interest being held by Cullen Resources Ltd ("Cullen"; ASX: CUL). Capella earned-in to its 80% interest in the five projects by meeting all of its exploration commitments as outlined in an earn-in agreement as announced on August 24, 2021.