EMX Royalty has made a strategic acquisition by securing a royalty interest in the Mustajärvi gold project in Finland, spotlighting the significant potential of this asset within the prolific Central Lapland Greenstone Belt. The purchase agreement with Aurora Exploration includes an $80,000 (C$107,451) transaction and the issuance of 30,000 common shares from EMX, pending the approval of the Toronto Stock Exchange Venture Exchange.
Located in a region renowned for its gold discoveries, including the Kittila Gold Mine, the Mustajärvi project is under the management of Firefox Gold. The project has demonstrated notable gold mineralization through extensive exploration since its acquisition by Aurora in 2017 and subsequent sale to Firefox.
Aurora’s initial deal included retaining a 1% net smelter return royalty, a stake now acquired by EMX. Firefox, however, retains the option to buy back half of this royalty for $500,000 post a positive feasibility study, showcasing the project’s promising future.
This acquisition follows on the heels of Firefox’s recent collaboration with Agnico Eagle Mines, which saw a private placement intended to finance further exploration efforts at Mustajärvi. The project is characterized by quartz-carbonate-tourmaline veins, with gold mineralization extending over a 2.1km trend that remains open for exploration both along strike and at depth.
Recent exploration has focused on the East Target, unearthing a new zone of gold mineralization. Notable drill intercepts in this area include significant gold findings, with hole 22MJ006 showing 28.74 grams per tonne (g/t) of gold over 13.85m, among others. These results underscore the high-grade potential of the Mustajärvi project.
To date, Firefox and its partners have conducted over 14,158m of drilling on the property, indicating the extensive exploration efforts to unlock the value of this promising gold asset. EMX’s investment in the Mustajärvi project signals confidence in its potential and contributes to the diversification and growth of EMX’s portfolio in the lucrative gold mining sector. 
