CAPELLA METALS LIMITED (TSXV: Camille; Pink OTC: CMILF); FRA: N7D) has announced the commencement of a reconnaissance diamond drilling program at the Killero W gold and copper project in the Central Lapland greenstone belt, northern Finland.
The Killero W project is one of five projects that form part of the Tümad Madencilik Sanayi Ve Ticaret AS (Tümad) joint venture for northern Finland with an existing drilling program at Killero W following the recently completed 2,008m/nine-hole diamond drilling program at Killero E.
The Northern Finland projects (Killero E, Killero W, Jolhikko, Seiseunselka, Saattopora W) are located 40 km southwest of Agnico Eagle Mines Limited(TSX: AEM; New York Stock Exchange: AEM) to produce the Kittila Gold Mine, with all five projects now under Agnico following the successful closing of Agnico’s acquisition of Rupert Resources Ltd on 16 June 2026.
Highlights: A reconnaissance diamond drilling program has commenced at the Killero W gold and copper project. Drilling will be conducted in two initial target areas – PKW-1 and PKW-2 – identified on the basis of Base Till (BoT) gold and copper anomalies derived from Anglo American plc’s historical regional geochemical surveys, strongly magnetic host rocks (interpreted as either fine-grained meta-gabbros or mafic volcanic rocks and host rocks suitable for gold and copper mineralization), and cross-sections in the northeast. Fracture/shear zones.
The current drilling program represents the first diamond drilling to be conducted in the Killero W project area.
Capella currently owns an 80% stake in the five projects in Northern Finland, while Cullen Resources Ltd. (ASX:CUL) The remaining 20% stake. Capella acquired its 80% interest in the five projects by fulfilling all of its exploration commitments as set out in the earn-out agreement as announced on 24 August 2021.
Eric Roth, President and CEO of Capella, commented: “I am very pleased to announce today the start of the first diamond drilling program at the Killero W project. The initial focus will be on two gold and copper targets defined by a synchronous base of anomalies, favored host rocks, and highly probable cross-sectional structural corridors. There is also additional potential to define additional target zones outside of these core zones. I look forward to updating the market as we progress with drilling tests at Killero W.”
Jolhikko and Seisunselka – The four Base of Till (BoT) and Top of Bedrock (ToB) survey lines have been completed over the Jolhikko and Seisunselka gold targets in northern Finland. A total of 102 BoT samples and 55 ToB samples were collected and sent to ALS laboratories for analysis. Potential targets for follow-on diamond exploration will be identified once all results have been reviewed and interpreted.
On January 15, 2026, Capella announced the signing of a binding letter of intent with Verde Metals in relation to a profit agreement at the Solana Iron Oxide Copper Gold (IOCG) project in southern Spain. Work plans for the Solana Project are currently subject to approval by the Andalusian Mining Authority, and field activities are expected to begin in early Q3 2026.
On September 2, 2025, Capella announced the signing of a definitive agreement with the Turkish mining company, Tümad Madencilik Sanayi Ve Ticaret AS (Tümad), to acquire interim gains from the company’s portfolio of precious metals and base metals projects in Scandinavia. Tümad’s minimum first-year investment commitment includes up to 12,000 meters of diamond exploration at the company’s gold and copper projects in the Central Lapland Greenstone Belt in northern Finland and the Hessjogruva copper, cobalt and zinc project in central Norway.
Capella also holds a 10% interest through production in the Lucken copper, cobalt and zinc VMS project in central Norway through a partnership with Tiaco Minerals. In addition, Capella owns net smelter equity in the Savant Gold project in Ontario, Canada (BMetals) and lithium projects in central Finland (Great Metals), as a result of the divestment of non-core assets.
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