Eurobattery Minerals receives new Hautalampi mine resources estimate

The new resource estimate includes newly estimated Hautalampi area and its North-Eastern extension known as the Mökkivaara deposit area, which was the target of the year 2020 core drilling campaign.

Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.

Highlights:

• Compared to earlier estimates, the total tonnage in the measured, indicated, and inferred resource categories has increased approximately 100% and contained metal approximately 50% in the mine lease area.
• The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC-code).
• Hautalampi deposit measured and indicated mineral resource:
  • 5.3 million t at an average grade of 0.35% Ni, 0.24% Cu, and 0.08% Co.
  • Contained metal Ni 18 300 t, Cu 12 800 t, and Co 4300 t in the measured and indicated category.
    • Additional inferred resources at Hautalampi area 0.2 million t at an average grade 0.26% Ni, 0.14 Cu, and Co 0.05%.
• Newly established NorthEastern extension of Hautalampi project, known as ‘the Mökkivaara deposit’, with following inferred resource:
  • 2.2 million t at an average grade 0.25%Ni, Cu 0.16%, and Co 0.06%.
  • Contained metal Ni 5 400 t, Cu 3 500 t, and Co 1200 t.
• The mineral resource is estimated using a database containing approximately 82 000 m of diamond core drilling including 3 768 m drilled during the 2020 campaign.
• An additional drilling campaign is planned for in the coming months. It is expected that the majority of the inferred mineral resources could be upgraded to indicated with this additional drilling.

“We are very pleased for the outcome of this now completed JORC-compliant mineral resource estimate of the Hautalampi project. Compared to earlier, historical resource estimates from the area, we can observe that the total resource tonnage has doubled and contained metal tonnes increased some 50%”, comments Roberto Garcia, CEO of Eurobattery Minerals AB.

The resource estimate is based on database containing approximately 82 000 m, 457 holes of core drilling, including 3768 m, 29 holes, which were drilled during 2020.

Read the article online at: https://www.globalminingreview.com/mining/22062021/eurobattery-minerals-receives-new-hautalampi-mine-resources-estimate/