HISTORY OF MINERAL EXPLORATION WITHIN
THE POLYMETALLIC “ALUM SHALE” OF SWEDEN

 

•1600s – commencement of mining of alum from the Alum Shales for use in the textile and tannery industries

•1800s – the presence of hydrocarbons within the Alum Shales was recognized and efforts of commercial production and refining were attempted

•1940s – high concentrations of vanadium were noted and limited amounts of vanadium were produced for strategic purposes

•1950s to 1980s – the Swedish State evaluated the Alum Shale for its uranium potential including around the Viken area

•2005 – Continental Precious Metals Inc. (“CPM”) started acquiring exploration licenses that make  up the current Viken Project

•2006 to 2009 – CPM carried out various exploration programs on the Viken Project

•2010 – CPM completed a NI 43-101 compliant Preliminary Economic Assessment (“PEA”) evaluating the economic viability of producing vanadium, uranium, and molybdenum from the Viken Project

•2014 – CPM produced an updated PEA investigating the potential for producing nickel, copper, zinc and uranium from a bio-heap leach operation at Viken

•2016 – CPM transfers Viken to EU Energy Corp.

•2017 – EU Energy Corp. begins technical/environmental base line studies for Exploitation Permit with Golder

 
 
 
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HISTORICAL RESOURCES

 

•Viken contains world-class black shale hosted vanadium resource of some

•11 mineral exploration licences

•223 million tonnes (PEA, 2010), open pittable with low strip ratio

•122 drill holes within or adjacent to the Viken MSS licence limits (Updated PEA, February 2014); 152 diamond drill holes (28,667 m) in total mainly on the Viken license

•Viken deposit in total contains 16.7 billion lbs vanadium (NI 43-101, 2008)

•Viken contains higher grade vanadium mineralization—some areas have elevated vanadium grades in excess of 1500 ppm V2O5

•Extensive analysis done to-date including an Updated Technical Report, Resource Estimate, Preliminary Economic Assessment (February, 2014)

•Now conducting study for selective mining and segregation of high-grade vanadium mineralization present in the mineral deposit

•Work is underway with our project Geologist and P&E Engineering to provide for a detailed technical description of the project for submission for the Exploitation permit

 
 
 
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