European Electric Metals Inc. (“EVX”) (the “Company”) has completed a Phase One underground sampling program at the Skroska Nickel-Cobalt Mine.
Three separate mining blocks were sampled during Phase 1 by EVX geologists. The three blocks being the East Block, Central Block and West Block (see Company website for location of these blocks http://www.europeanelectricmetals.com/). East Block dimension is 110m x 60m, the Central Block is 60m x 40m and the East Block is 80m x 50m.
A total of 174 channel samples were taken from mining panels and pillars, from 66 different underground sample locations.
EVX will take additional samples over the next 10 days outside of these mining blocks, in close proximity to historical drill holes (duplicate samples) and will also take samples from the mining block areas for usage in Specific Gravity testing.
These programs are being conducted to follow up on the initial discovery of elevated cobalt levels, as described by the Company in a News Release dated October 11, 2018.
The blocks are accessible and supported by existing underground mining infrastructure. The area has been deemed during company inspections to be in good working condition, and, subject to engineering review, conducive to restarting mining operation.
There is electricity throughout the mine and the track system and air compression systems are in good working order. There is no water issue and the mine is well ventilated with no mechanized ventilation system in place. There are no rockfalls in any areas of the mine. The mine is serviced via hydro-electric power (the mine is on the power grid) and has paved road access nearby the property area with well-maintained gravel roads to the site. The site also has good office infrastructure and various storage/outbuildings that formerly supported previous state-run operation (1985-1990) and operation by current owner from 2008 to 2013.
EVX CEO, Fred Tejada, states, “This first phase underground was completed efficiently by our team onsite, enabled partly by the good working conditions underground. The goal is to use this sample data to populate a NI 43-101 compliant resource estimate and mine modeling.”
The samples will be sent to ALS Lab in Serbia for preparation and sent to their laboratory in Ireland for analysis. The analytical suite to be used for the analysis will be ME-XRF12n. This analytical suite is suitable in the analysis of nickel laterite samples.
Jose Mario Castelo Branco, EuroGeol, a Qualified Person under the meaning of Canadian National Instrument 43-101 and Chief Geologist of the Company is responsible for the technical content of this news release.
About European Electric Metals Inc.
European Electric Metals Inc. is a Canadian listed public company, with a focus on electrification themed projects in Europe. A major shareholder of EVX is the European Bank for Reconstruction and Development. The goal of EVX is to become a major source of battery metals such as copper, nickel and cobalt, and the Company seeks to do so within safe, stable and logistically attractive European jurisdictions. The Company's projects are ideally located with excellent road, port and grid power availability, and near European countries that are poised to experience dramatic growth in the electric-vehicle-manufacturing industry. There is a strong battery-manufacturing industry within Europe with many more projects in the pipeline.
On behalf of the Company,
Fred Tejada, Chief Executive Officer and Director
Forward-Looking Statements. This news release contains “forward-looking” statements and information relating to the Company and Skroska are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, community relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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