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 is about to commence drilling at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project in Outokumpu, eastern Finland. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition. Eurobattery Minerals is assuming the full cost for this drilling campaign as part of the option agreement between Eurobattery Minerals and FinnCobalt Oy.
- The new drilling campaign, starting in mid-October 2021, will target the Hautalampi project resource increase.
- The campaign will cover the previously non-drilled gap area between the Hautalampi deposit and the north-eastern extension of the project known as the Mökkivaara deposits aiming to verify resources between these already established deposits.
- Previous drilling campaign in 2020 confirmed a resource increase of approximately 100%.
- With a target of approximately 5000 m of new drilling, the campaign will be finalised in early 2022.
“We are pleased to start a new drilling campaign at our nickel-copper and cobalt Hautalampi-project. Last year's drilling campaign verified a 100% increase in the mineral resources of the area. We are now excited to see, if the Hautalampi and the Mökkivaara deposits are connected to each other as anticipated. This connection would make the production from Mökkivaara deposit economically more feasible as development works could be done in ore body,” said Roberto García Martínez, CEO of Eurobattery Minerals.
A diamond drill rig and crew were scheduled to arrive at the site on 13 October with drilling to commence immediately. An experienced Finnish drilling contractor, Northdrill, has previously worked on the project in 2017 – 2018 and 2020.
The main goals of this drilling campaign are:
- Converting inferred resource to indicated resource at the Hautalampi resource area through drilling the most important gaps in the currently existing indicated resource zone (Hautalampi-resource conversion).
- Extending the Hautalampi resource area further to the NE (central-eesource extension).
- Filling the drilling gap between the existing Hautalampi resource area and thenorth-eastern extension known as the Mökkivaara resource area (central-gap fill).
- Creating an indicated mineral resource of the Mökkivaara resource through increasing the drilling density.
Read the article online at: https://www.globalminingreview.com/exploration-development/15102021/finncobalt-commences-drilling-at-eurobattery-minerals-hautalampi-project/
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