EQS-News: Eurobattery Minerals: Almost 40% increase in the contained metals in the Finnish Hautalampi Ni-Co-Cu mine project
EQS-News: Eurobattery Minerals AB
/ Key word(s): Miscellaneous
Eurobattery Minerals: Almost 40% increase in the contained metals in the Finnish Hautalampi Ni-Co-Cu mine project Stockholm, 29 September 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) today announces that it has received an updated resource estimate on the Hautalampi project. The independent JORC-compliant estimate prepared by AFRY Finland Oy concludes that compared to previous analysis in 2021, the available mineral resources in the mine project has almost doubled with almost 40% more metals. Eurobattery Minerals owns 40% of the Hautalampi project and have the option to acquire 100% from its current majority owner FinnCobalt. “I am extremely pleased! The new estimate exceeds our previous expectations and confirms that the Hautalampi mine project has more than 1/3 more battery minerals available than what was thought. It's a significant discovery and sends a strong message - our Finnish mine project have all the prerequisites to be an important source for responsible mined battery minerals powering the European automotive and clean energy sector,” said Roberto García Martínez, CEO of Eurobattery Minerals. Key information and findings New area covered: The new resource estimate prepared by AFRY Finland Oy includes newly estimated Hautalampi area and its North-Eastern extension known as the Mökkivaara area. Both areas have been the target of the year 2021 core drilling campaign, which was completed in December 2021. Significant tonnage increase: Compared to the estimate by AFRY Finland Oy in 2021, the total tonnage in the measured, indicated, and inferred resource categories tonnage has almost doubled and contained metal increased approximately 39% in the mine lease area. JORC-code compliant: The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC-code). The mineral resource is estimated using a database containing approximately 86,500 meters of diamond core drilling including 4,600 meters drilled during the 2021 campaign. Next steps: With the resource update in hand, Eurobattery Minerals will now conduct further technical and economical evaluations of the project viability. This includes investigate different downstream processing and off-take options to receive maximum revenue especially from the Nickel-Cobalt concentrate Details about the Hautalampi and Mökkivaara deposit measured and indicated mineral resource
The north-east extension of the mineralization, Mökkivaara deposit, with following inferred resource:
The mineral resource is estimated using a database containing approximately 86,500 meters of diamond core drilling including 4,600 meters drilled during the 2021 campaign. Competent person's statement Mr. Seppä is a full-time employee of AFRY Finland Oy. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr. Seppä has reviewed, verified, and approved the contents of this news release as they relate to the mineral resource estimate. Mr. Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB. Report availability In the attached appendix detailed information about resource estimates and estimations principles can be found along with maps of the Hautalampi project. This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of Roberto García Martínez, CEO of Eurobattery Minerals AB, on 29 September at 07:30 CEST. About Eurobattery Minerals Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well. Contact Eurobattery Minerals AB Contact Investor Relations Mentor
Additional features: File: Appendix Hautalampi JORC_ENG
29.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG. |
Language: | English |
Company: | Eurobattery Minerals AB |
114 56 Stockholm | |
Sweden | |
Phone: | +49 151 6568 0361 |
E-mail: | [email protected] |
Internet: | www.eurobatteryminerals.com |
ISIN: | SE0012481570 |
WKN: | A2PG12 |
Listed: | Regulated Market in Berlin, Frankfurt, Munich, Stuttgart |
EQS News ID: | 1452407 |
End of News | EQS News Service |
|
1452407 29.09.2022 CET/CEST