Boreal Metals Solidifies Their Position as Europe’s Leading EV Exploration Company
While the North American market for EV stocks is now reaching saturation, Boreal Metals (CVE:BMX, FRA:03E) is across the Atlantic with all of Europe to itself.
This morning the company announced the acquisition of the Mjövattnet and Njuggträskliden nickel-copper-cobalt projects, located in northern Sweden, southwest of Skellefteå.
Mineralization is comprised of massive sulfides enriched in nickel, copper, and cobalt, with both properties hosting historic resources. In addition, and not common for these style deposits, the properties have exploration potential for gold and platinum group elements (PGE).
Only nickel sulphide deposits can produce the class 1 nickel that is suitable for batteries, and class 1 nickel represents just 50% of current nickel production.
This is what makes Boreal’s newly acquired projects so strategic.
The projects were recognized during a nationwide reconnaissance exploration program for nickel conducted between 1968 and 1984 by the Swedish Geological Survey (SGU).
This led to the discovery of nickel mineralization at Mjovattnet in 1971 and at Njuggtraskliden in 1974.
More than 80 nickel occurrences were identified during the program, with drill programs defining multiple historic mineral resources.
Of all the resources that were defined in the 1970s and 1980s, Njuggtraskliden and Mjovattnet contained some of the highest average grades of nickel.
Both Mjövattnet and Njuggträskliden host drill defined mineralization in targets that remain open at depth and along strike.
Given the limited shallow historic drilling and untested targets at depth and along strike, Boreal believes that there is high potential for new discoveries at the properties.
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