Viscaria
Location
Sweden
Operator
Gruvaktiebolaget Viscaria
Commodity
Copper-Iron
Royalty
0.5-1% NSR
EMX acquired the Viscaria copper-iron royalty, as well as other assets, from Freeport-McMoRan Exploration Corporation in 2010. EMX has a 1% NSR royalty on Viscaria production and initially will pay half of the royalties, up to a maximum of US$12 million, to Outokumpu Oyj. This yields an effective 0.5% NSR royalty until the payment cap is reached, at which point EMX will retain a full 1% NSR royalty payment.
The Viscaria copper-iron project occurs in the world-class Kiruna IOCG mining district, and is situated within two kilometers of LKAB’s Kirunvaara iron mine. Mineralization occurs as three north-northeast trending stacked subvertical horizons containing copper (the A and B zones) and iron (D zone) that are hosted in Precambrian rocks of the Kiruna Greenstone Group.
Historic production from the deposit includes 12.5 Mt at 2.3% Cu from 1983 until 1997.
Viscaria is currently being advanced by Gruvaktiebolaget Viscaria (formerly Copperstone Resources AB) (NASDAQ: VISC). Copperstone released an updated resource estimate for Viscaria in November 20221, shown in the table below. 2024 drilling2,3 resulted in the discovery of a new zone of copper mineralization, the ‘ABBA’ zone, at depth between the A- and B-zones (See Viscaria Press Release dated September 24, 2024). Drilling results also show the continuation of mineralization at further depths, some with higher copper grades than the current resource. These new findings at Viscaria show significant growth potential.
|
Zone |
Category |
Mton |
Cu % |
Cu (kton) |
Fe MAG % |
Fe MAG (Mton) |
Zn % |
Zn (kton) |
Au (g/t) |
Au (t) |
Ag (g/t) |
Ag (t) |
Co (ppm) |
Co (Kton) |
|
A Zone 0.25% Cu cut off |
Measured |
15.8 |
1.52 |
239.0 |
|
|
|
|
|
|
|
|
|
|
|
Indicated |
5.6 |
1.09 |
60.4 |
|
|
|
|
|
|
|
|
|
|
|
|
Inferred |
3.6 |
0.8 |
30.3 |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
24.9 |
1.32 |
329.7 |
|
|
|
|
|
|
|
|
|
|
|
|
B Zone 0.25% Cu cut off |
Measured |
0.1 |
1.17 |
1.5 |
|
|
|
|
|
|
|
|
|
|
|
Indicated |
19.7 |
0.65 |
128.1 |
|
|
|
|
|
|
|
|
|
|
|
|
Inferred |
11.4 |
0.77 |
87.9 |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
31.2 |
0.70 |
217.4 |
|
|
|
|
|
|
|
|
|
|
|
|
D Zone Copper Domain 0.4% Cu cut off |
Measured |
7.8 |
1.15 |
89.7 |
25.0 |
2.0 |
|
|
|
|
|
|
|
|
|
Indicated |
8.1 |
1.13 |
92.1 |
23.7 |
1.9 |
|
|
|
|
|
|
|
|
|
|
Inferred |
4.8 |
1.15 |
55.8 |
21.2 |
1.0 |
|
|
|
|
|
|
|
|
|
|
Total |
20.8 |
1.14 |
237.7 |
23.6 |
4.9 |
|
|
|
|
|
|
|
|
|
|
D Zone Iron Ore Domain 0.4% Cu cut off |
Measured |
7.7 |
0.21 |
16.2 |
25.6 |
2.0 |
|
|
|
|
|
|
|
|
|
Indicated |
5.5 |
0.21 |
11.6 |
25.4 |
1.4 |
|
|
|
|
|
|
|
|
|
|
Inferred |
2.8 |
0.18 |
5.1 |
25.4 |
0.7 |
|
|
|
|
|
|
|
|
|
|
Total |
16.0 |
0.21 |
32.9 |
25.5 |
4.1 |
|
|
|
|
|
|
|
|
|
|
Total A, B, D zones |
93.0 |
|
817.7 |
|
9.0 |
|
|
|
|
|
|
|
|
|
|
Tailings Dam 0.06% Cu cut off |
Measured |
12.5 |
0.27 |
34.0 |
|
|
0.2 |
30.3 |
0.06 |
0.8 |
0.9 |
11.0 |
145.0 |
1.8 |
|
Indicated |
0.2 |
0.17 |
0.3 |
|
|
0.2 |
0.3 |
0.05 |
0.0 |
0.5 |
0.1 |
146.0 |
0.0 |
|
|
Total |
12.7 |
0.27 |
34.2 |
|
|
|
30.7 |
|
0.8 |
|
11.1 |
|
1.8 |
|
|
Total Viscaria |
105.7 |
|
851.9 |
|
9.0 |
|
30.7 |
|
0.8 |
|
11.1 |
|
1.8 |
|
1 The mineral resource estimates for Viscaria (A, B and D Zones), which was prepared in accordance with the PERC Code, an acceptable foreign code under NI 43-101, is referenced from Copperstone Resources AB news release titled “Successful mineral resource upgrade at Copperstone’s Viscaria Mine” dated November 18, 2022.
The mineral resource estimate for Viscaria (tailings facility), which was prepared in accordance with the PERC Code, an acceptable foreign code under NI 43-101, is referenced from Copperstone Resources AB report titled “Mineral Resource Estimate, Viscaria Tailings Facility” and dated February 3, 2022. Accessed March 1, 2024 from https://copperstone.se/app/uploads/2022/10/Viscaria-Tailings-PERC-2017-Feb-3-2022.pdf.
EMX’s royalty does not cover all estimated mineral resources for the Viscaria tailings facility. EMX’s Qualified Person under NI 43-101 has made an estimate that the royalty covers approximately 33% of the mineral resource footprint for the tailings facility.
*Nearby mines and deposits provide context for the project, but do not necessarily indicate similar size, styles or grade of mineralization within the project.
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