Perth-based minerals explorer Cullen Resources (ASX: CUL) has announced progress from its Northern Finland Joint Venture. Cullen is a Perth-based minerals explorer with a multi-commodity portfolio including projects managed through a number of joint ventures with key partners, and several projects in their own right. The company’s announcement refers to a statement made by the Joint Venture Manager, Capella Minerals Limited (TSXV: CMIL), regarding the commencement of drilling at the Killerö Gold-Copper Project. Cullen holds a 30% free carried interest in this project up to the Feasibility Study stage.
Capella Minerals reported the initiation of its maiden diamond drill program at the Killerö E gold-copper target in northern Finland. The drilling program, consisting of an initial 11 holes totaling approximately 2,200 meters, aims to test approximately 1km of the Killerö E anomaly’s strike extent. This target was previously defined by Anglo American plc through significant gold-copper Base of Till (BoT) anomalies, which showed maximum BoT values up to 0.59% Cu and 145ppb Au.
In addition to the drilling at Killerö E, Capella is also evaluating concurrent BoT drilling at the nearby Jolhikko and Seisunselka targets. These targets are interpreted to display geological features typical of Precambrian orogenic gold deposits, with BoT drilling required to determine the distribution of precious metals within these areas. The company anticipates a temporary shutdown of drilling between December 22 and January 2 for the holiday season, with drilling expected to resume on January 3, 2026.
Capella acquired its Central Lapland Greenstone Belt project interests, including Killerö, from Cullen Resources through an earn-in agreement announced on August 24, 2021. Capella currently owns an 80% interest in the Killerö project, which now forms part of the September 2, 2025, Tümad earn-in agreement. Cullen Resources retains a 30% free carried interest to Feasibility Study.
