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New mineral resource calculation underway in Hautalampi

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Global Mining Review,

Eurobattery Minerals AB, a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has announced that FinnCobalt Oy has hired a Tier-1 process consulting company AFRY to prepare a mineral resource estimate for the Hautalampi project in Finland. AFRY will also provide other technical and economical evaluations and guidance for FinnCobalt Oy. The results are expected in 6 months. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.

“We are very thrilled to see the results of the new resource estimate, it’s an important background factor in developing a battery mineral mine. Our hypothesis’s of the Hautalampi mineralisation extending North-East from the Hautalampi mine was confirmed by last year’s drilling. Now it remains to see the results in numbers”, commented Roberto García Martínez, CEO of Eurobattery Minerals.

The new resource estimate will cover the whole Hautalampi project area including the results from the year 2020 drilling programme at the project, in eastern Finland. The drilling confirmed significant resource expansion potential from 800 m to 1400 m along strike to the northeast of the historical mineral resource, as well as continuity of the westernmost mineralised horizon in a southwest direction towards the historic Hautalampi mineral resource.

Also, the already estimated Hautalampi mine mineral resource will be updated using updated metal price forecasts and results from the recent metallurgical test work, which was completed by GTK Mintec and Outotec Oyj during the years 2018-2019.

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