Sagvoll Overview

The Sagvoll property is composed of eleven contiguous mineral licences totalling 10,900 ha (109 km²) in area in the Verdal and Steinkjer municipalities of Trøndelag County, Norway.

The area covered by the property is generally hilly, with vegetation dominated by boreal forests with a sub-arctic climate. Field work is possible from late spring until early fall, with drilling operations possible year-round. Access to the property is via paved and dirt road from the towns of Steinkjer and Verdalsøra, each situated approximately 35 km west of the property’s northern and southern ends (respectively). From these towns, the city of Trondheim can be reached in approximately two hours travel via either maintained paved highway or passenger rail service. Trondheim is a major city, providing access to supplies, labour, port facilities and an international airport.

Bedrock geology of the property is dominated by a series of Cambrian to Ordovician age marine metasedimentary and metavolcanic sequences belonging to the Trondheim Nappe Complex. These units have all been deformed and metamorphosed during the Silurian-Devonian Caledonian Orogeny, and presently sit within the Uppermost Allochthon of the Scandinavian Caledonides. The property is largely underlain by rocks of the Gula and Fondsjø groups, with a number of volcanogenic massive sulphide (VMS) occurrences hosted within the Fondsjø Group. A magmatic nickel sulphide occurrence is also present, hosted within a mafic unit intruding the Gula Group. The units underlying the Sagvoll property are correlative to those found in the Røros area, a prolific VMS mining district approximately 150 km south of the property.

There is a long history of mining on the Sagvoll property, with production of copper from the VMS deposits and nickel from the magmatic sulphide deposit during the 19^th century. The Norwegian Geological Survey’s (NGU) mineral occurrence database records four clusters of mineralized showings on the property; three of these are interpreted to be VMS type and are hosted in greenstone of the Fondsjø Group, with the fourth belonging to the magmatic sulphide deposit type. The showings contain economically significant quantities of copper, nickel and zinc consistent with the reported mineralization style at each. Exploration by private companies and the NGU following cessation of mining has been sporadic and relatively small scale. No modern drilling or widespread surface geochemical sampling has taken place. The most significant of the historical work programs are a thesis completed on the magmatic sulphide occurrence, an extensive silt sampling campaign near one of the VMS occurrences and airborne geophysical surveys conducted by the NGU over the majority of the property in 1993 and the southern end of the property in 2006. Prior to acquisition of the exploration licences by EMX, mineral tenure had been allowed to lapse by the prior rights holders.

Reference: 2019 Technical Report on the Sagvoll Project by David Swanton, M.Sc., P.Geo. dated March 12, 2019