European Electric Metals Inc. has started off drilling with a bang at its Rehova Copper Project located in Albania. The company reported initial results from the first four holes drilled this year, all of which interested copper mineralization.
An intersection of 10m at 3.96 per cent Cu including 3m at 5.06 per cent Cu and including 4m at 5.76 per cent Cu (all true widths) occurred near surface (from 51.2m depth). This result is from the periphery of the Kanisqel pit area of the project.
Copper, as many investors know, is a much-needed component in electrification, and is an important battery metal. In addition to further news flow expected from drilling at Rehova, the company also notes that it is on the lookout for other electrification theme metals projects throughout Europe.
EVX has a management team with deep experience in Europe, and also has one of Europe’s most important banks, the European Bank for Reconstruction and Development, as a major shareholder. The European Bank for Reconstruction and Development is owned by 67 shareholders, 65 countries, and two international organizations. Large shareholders of the EBRD include the United States of America, Germany, the United Kingdom, and Japan. Also, fitting for a company looking to help fuel electrification, advisors of the company include a former Minister of Environment (and Deputy Prime Minister) of a G7 country.
Fred Tejda, EVX’s CEO, has put together serious technical talent this year, evidenced in part by the recent addition of Jose Mario Castelo Branco to the team, as Chief Geologist. Mr. Branco has a track record of success throughout Europe, including exploration leadership roles at Lundin Mining Corporation, Rio Tinto, and Rio Narcea Gold Mines S.A.
For six years, Mr. Branco was the Regional Exploration Manager Europe for Lundin, a global mining company with multiple projects, varying from exploration through to development and mining. While at Lundin, Mr. Branco led the team credited with discovering the Semblana mineral deposit near Neves Corvo. He also provided expert assessments and project evaluations for Lundin, including at Las Cruces in Seville, which is now in production, as well as an additional major undertaking that is currently at the prefeasibility stage.
With drilling just started at Rehova, and with new projects being evaluated, this relatively unknown situation promises to gain prominence as the markets attention increasingly turn to the hunt for battery metals.
Source: financialpost.com
