Gumsberg

The Gumsberg project is located in the historic Bergslagen mining district. EMX acquired Gumsberg because of its significant historic production, apparent lack of modern exploration and drilling, and for its high-grade styles of mineralization that had not been fully appreciated. 

EMX believes the styles of mineralization at Gumsberg are analogous to Boliden’s Garpenberg mine and the historic Falun mine. Deformed and steeply dipping, VMS and CRD mineralization occurs along two trends, and field evidence and comparisons with Bergslagen District analogues suggest mineralization may extend to unknown depths. 

EMX’s 2016 reconnaissance diamond drilling (5 holes, 432.8m) yielded shallow high-grade intercepts of Pb-Zn-Ag mineralization in 4 holes along the > 2 kilometers long Vallberget-Loberget trend of historic mines. See EMX news release dated September 8, 2016 for a description of the QA/QC procedures, sampling methodologies, and other exploration results for the Gumsberg project. 

In October 2024, an option agreement for Gumsberg was executed with Alpha Future Funds SCS (“Alpha”). The agreement provides EMX with a cash payment and work commitments during a one-year option period, and upon exercise of the option, EMX will receive additional deferred option payments, advance royalty payments, milestone payments and a 2% NSR royalty. See Company news release dated October 22, 2024 for more details.

Drilling completed in March 2021 by a previous partner resulted in a discovery at the Fredriksson Gruva prospect where they intersected high grade and significant widths of ‘Broken Hill’ type mineralization. Intersections include 10.35m of 5.24% Zn, 1.84% Pb, 43.86 g/t Ag (see Norden Crown Metals news release dated March 1, 2021).
 

Maps

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Disclaimer:

¹ Grade-Tonnage information obtained from Mineral deposits and metallogeny of Fennoscandia, Geological Survey paper of Finland, Special Paper 53. Pasi Eilu Editor. 401 p. 2012.

² Garpenberg has a PERC Standard proven resource of 17.2 Mt @ 98 g/t Ag, 0.25 g/t Au, 0.04% Cu, 1.3% Pb, and 3.0% Zn and a probable resource of 83.7 Mt @ 88 g/t Ag, 0.31 g/t Au, 0.05% Cu, 1.2% Pb, and 2.5% Zn (Boliden 2023 Annual Report: https://investors.boliden.com/en/investor-relations/reports-and-presentations/financial-reports)

The Garpenberg PERC compliant mineral reserves and resources were reported by Boliden AB, a publicly traded Swedish company (TS:BOL), in its 2023 Annual Report. The mineral reserves and resources were reviewed and approved by Gunnar Agmalm, Boliden’s Ore Reserves and Project Evaluation Manager, and a PERC “Competent Person”. The mineral reserves for Garpenberg provide regional geologic context for EMX’s Project, but this is not necessarily indicative of the mineralization on the Project.

*Nearby mines and deposits provide context for the project, but do not necessarily indicate similar size, styles or grade of mineralization within the project.

Photos

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