Bastuträsk Overview

The Bastuträsk property is composed of two contiguous exploration permits with a total area of 4,739 ha, located in Västerbotten County of northern Sweden.

The area covered by the property is generally flat to rolling, with several large lakes and gentle hills covered in glacial till. It lies in the subarctic climate zone, with vegetation dominated by boreal forest and swamp. Field work is possible from late spring until early fall, with drilling operations possible year-round. Access is via paved and dirt road from the village of Bastuträsk, located several kilometers east of the property. From this village, there are rail and road links to the rest of Sweden and to the city of Skellefteå, 50 km away. Skellefteå is a significant regional centre, providing access to supplies, labour, port facilities and a domestic airport.

Bedrock geology of the property and surrounding area is dominated by Neoproterozoic age plutonic, volcanic and sedimentary rocks of the Baltic Shield.  All units have been deformed and metamorphosed during the Svecofinnian orogeny, and represent the eroded roots of a large mountain range formed during this event. The Bastuträsk property itself is underlain by the Sikträsk granitoid and felsic volcanic and clastic sedimentary rocks of the Skellefte Group, surrounded by the later (but still pre-tectonic) Revsund Granitoid. Massive sulphide mineralization (interpreted based on available data to be VMS-type) is hosted within the Skellefte Group; this is the same unit which hosts several significant currently and past producing base and precious metal mines approximately 20 – 30 km away, including the Renström and Petiknäs South deposits.

Exploration has been conducted sporadically on the property since the 1960’s, with several sustained multi-year campaigns of drilling during the 1980’s and 2000’s and a total of 79 reported drillholes completed on the ground now covered by the Bastuträsk property. There has been no production from the property, and surface mapping and geochemical exploration have been limited by the glacial till which obscures the majority of outcrop. Drilling has defined multiple intercepts of zinc-rich massive sulphide mineralization within the Skellefte Group. The best of these are of sufficient grade and width to be of economic significance, and their existence and proximity to VMS deposits elsewhere in the region is likely the reason for the recurring exploration activity on the property. 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 Bastuträsk Project by David Swanton, M.Sc., P.Geo. dated March 7, 2019