Collin Kettell - Thu, Nov 30, 2017

How You Can Get a Piece of Viking Treasure

article title text beside a viking ship in rough seas

For you to make outsized gains, you need to find great projects and the smart people who know how to run them.

They aren't easy to come by...

But once you find such a combination, you need to take advantage of it.

And that is exactly what I'm going to share with you...

Even EMX Royalty, one of the most successful prospect generators in the junior mining sector, owns 19.9% of this company I'm talking about.

We like EMX Royalty because they know what they're doing and won't invest in just anything...

For example, in 2006 they spun out and sold their Serbian projects to Reservoir Minerals.

They kept royalties on the projects and got shares of Reservoir to hold onto any future success.

Boy that worked out...

Because in 2012, Reservoir Minerals and their partner, Freeport-McMoRan, discovered the Cukaru Peki copper-gold deposit.

It was a great find.

A while later, in 2016, Nevsun Resources acquired Reservoir Minerals for $440 million dollars...

line chart showing Reservoir Minerals 4-year C$ price from Nov. 1 2011

Another example of EMX's strategy working was in the success of Standard Uranium.

In short, EMX made a strategic investment to fund Standard Uranium in 2004. This allowed them to build up their portfolio of cheap uranium assets.

Two years later, Standard Uranium got acquired by Energy Metals.

Then, soon after, Uranium One acquired them.

This gave over a 1,000% return to early investors - like EMX.

That's why we pay close attention to what EMX Royalty is doing.

And their recent spin-off has us interested again...

I'm talking about Boreal Metals (CVE: BMX)

Boreal acquired an impressive Scandinavian land portfolio from EMX Royalty in 2016.

But, why Scandinavia?

It's not only home to the once Vikings, it's also known as the "Mining Capital of Europe."

There are over 30 producing mines between Finland, Norway, and Sweden.

They offer excellent infrastructure, skilled labor, low corporate tax rates, and pro-mining jurisdictions.

I bet you didn't even know that Scandinavia is...

* home to the world's largest underground iron mine (Kiruna)

* has Europe's largest open-pit copper mine (Aitik)

* and has Europe's largest gold mine (Kittila)

These reasons make Scandinavia an ideal place for a junior mining company to make a discovery.

Also, the team running Boreal Metals is very high quality...

Patricio Varas, the Chairman, has over 30 years of experience in exploration and project development from all over the world.

He founded Western Potash Corporation where he and his team discovered and developed the world class 'Milestone Potash' deposit in Canada.

Karl Antonius, the President, has had an impressive career in the resource sector.

He is the Founder and former President of Mandalay Resources Corp. He was also the initial financier of the Szartilden gold mine in Sweden for Viking Resources.

There is also Eric Jensen who is serving as the senior geologist and is on the Board of Directors.

Eric was the co-founder of Bronco Creek Exploration and served as Chief Geologist and GM of Exploration for EMX Royalty Corp.

With such an experienced and proven management, Boreal is ready to develop their portfolio.

They now have 100% ownership of four projects...

  • The Gumsberg Project (Ag, Cu, Pb, Zn) in Sweden

  • The Adak Project (Ag, Au, Cu, Zn) in Sweden

  • The Burfjord Project (Au, Co, Cu) in Norway

  • The Tynset Project (Cu, Zn) in Norway

area map showing base metal deposits and Boreal's projects

Here is a closer look at their advanced projects...

Gumsberg VMS Project - Home to the Östrasilvberg Mine, Sweden's most important silver producer in the 1300s and 1400s.

This project location is in the copper-lead-silver-zinc district. It is right between the world class Falun and Garpenberg mines.

The mineralization remains open along the strike of mine and at depth below mine workings. There are massive sulfide deposits along the 2-kilometer Vallberget-Loberget Trend. To date, there has only been shallow drill-testing, with highlights including 9.8 meters of 22.9% Zn and 0.7% Pb; and 3.7 meters of 17.1% Zn and 1.9% Pb. The trend remains open along strike.

Previous drilling by EMX has confirmed high grade mineralization across many targets.

In terms of exploration Gumsberg, Boreal plans on geophysics, more drilling, and to study any near-term production opportunities.

area map outlining the Gumsberg VMS project and shows nearby mines

Adak VMS Project - This project used to be a producing mine owned by the government of Sweden. There was a fire in the late 1970's that destroyed the mine's interior. It was never re-opened and there was no further exploration.

Since the fire - copper, zinc, and gold resources have sat untouched...

The historic Adak Mining Field has several past producing mines with historic resources, such as Adak, Lindsköld and Brännmyarn (6.33Mt @ 2.02% Cu, 0.6 g/t Au, 9 g/t Ag) and Rudtjebäcken (4.75Mt @ 3% Zn, 0.9% Cu, 0.3g/t Au, 10 g/t Ag). Historical drilling at Adak focused in areas of underground development with almost no step-out or deep drilling, even though drilling ended found mineralization in several areas.

There is zinc, gold, and cobalt potential that needs to assessing.

Boreal plans on compiling technical data in 3D and developing drill targets. Also, a 2006 VTEM survey identified many anomalies. Boreal estimates spending $740,000 on the Adak project for data compilation, geophysics and further drilling.

Once they get a better and up-to-date picture of what the project holds, Boreal can decide how to proceed next.

area map of various mines with infrastructure details

Burfjord IOCG Project - During the 1800's, this area was mined for the prominent high-grade copper. They would load ore onto mules and carry it across steep mountain ranges.

Historical cut-off grades are to have been in 3-5% Cu range and gold not assayed until the 1990s.

There is potential for a major discovery at Burfjord. There is mineralization along flanks of a major regional fold structure, and footprints of more mineralization spanning large areas.

Like the many zones of copper-bearing veins that span hundreds of meters along the strike. . .

Boreal plans on performing geophysics, sampling, and drilling.

Tynset Project - This project sits in the Roros Distritct. There has been significant history of high-grade copper and zinc production here.

The exciting part here is the potential for a major discovery...

There has been no drilling or modern exploration on Tynset.

Boreal wants to explore these trends of exposed minerals. There are actual areas of outcropping mineralization with no drilling done.

Using modern technology and methods to uncover the area, Tynset could be a sleeper...

So, here are the highlights of everything we went over...

  • 100% ownership of four advanced, high quality projects in mining friendly jurisdictions

  • Great infrastructure which gives complete access to all projects year-round

  • EMX Royalty as a strong strategic partner and cornerstone shareholder. They bring their past success and experience to Boreal

  • Proven management that has experience taking projects from all the way. From new discoveries into producing mines

  • These projects offer leverage to rising copper, zinc, and other metal prices

Boreal Metals has the properties, the strategic investors, and the management to develop something big.

Palisade Global Investments Limited holds shares of Boreal Metals. We receive either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate. The information contained in such write-ups is not intended as individual investment advice and is not designed to meet your personal financial situation. Information contained in this report is obtained from sources we believe to be reliable, but its accuracy cannot be guaranteed. The opinions expressed in this report are those of Palisade Global Investments and are subject to change without notice. The information in this report may become outdated and there is no obligation to update any such information. Do your own due diligence. publishes interesting contributor articles in addition to its own content. We have not verified any of the above details.

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