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5.12.2019 | Company Announcement / Press release
Ore Reserve estimate of Keliber’s Rapasaari lithium deposit has increased by nearly 50 percent

The Ore Reserve estimate for Keliber’s (“Company”) Rapasaari lithium deposit has been updated. Estimated Proven and Probable Ore Reserves total 5.280 million tonnes, which is 49.6 percent more than previously estimated.

New JORC 2012 compliant Ore Reserve estimate for the Rapasaari lithium deposit, including the open pit and underground Ore Reserves, has now been completed. The Proven and Probable Ore Reserves of the Rapasaari deposit, using a 0.40% Li₂O cut-off grade for the open pit and underground reserves, are in total 5.280 million tonnes with an average grade of 0.94% Li₂O. In addition to the approximately 50 percent increase in the total Ore Reserves of the Rapasaari deposit, the estimate includes for the first-time reserves in the category of Proven Ore Reserves in total of 1.440 million tonnes with an average grade of 1.07 % Li₂O.

The total JORC 2012 compliant total Proven and Probable Ore Reserves for the Company, using a cut-off grade of 0.40% Li₂O for the open pit Ore Reserves and a cut-off grade of 0.40 – 0.70% Li₂O for the underground Ore Reserves are 9.372 million tonnes with a grade of 0.98% Li₂O.

The tables below summarize the new JORC 2012 compliant Ore Reserve estimate for the Rapasaari lithium deposit as well as Ore Reserve estimates for all the Company's lithium deposits.

Ore Reserves Rapasaari (JORC 2012)
Open pit Mt Li₂O % Cut-off
Proven 1.440 1.07 0.40
Probable 2.730 0.90 0.40
Open pit reserves 4.170 0.96 0.40
Underground Mt Li₂O % Cut-off
Proven 0.340 0.89 0.40
Probable 0.770 0.86 0.40
Underground reserves 1.110 0.87 0.40
Mt Li₂O % Cut-off
Ore Reserves total 5.280 0.94 0.40

Ore Reserves Keliber Oy (JORC 2012)
Syväjärvi Rapasaari Länttä Outovesi Emmes Total
Open pit Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O%
Proven 1.433 1.18 1.440 1.07 0.168 1.09 3.041 1.12
Probable 0.491 0.97 2.730 0.90 0.096 0.93 0.222 1.06 3.539 0.92
Open pit total 1.924 1.13 4.170 0.96 0.263 1.03 0.222 1.06 6.579 1.01
Underground Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O%
Proven 0.340 0.89 0.243 0.83 0.583 0.86
Probable 0.770 0.86 0.583 0.85 0.856 1.01 2.209 0.92
Underground total 1.110 0.87 0.826 0.85 0.856 1.01 2.792 0.90
Ore Reserves total Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O% Mt Li₂O%
Proven 1.433 1.18 1.780 1.04 0.411 0.94 3.624 1.08
Probable 0.491 0.97 3.500 0.89 0.679 0.86 0.222 1.06 0.856 1.01 5.748 0.92
Grand total 1.924 1.13 5.280 0.94 1.090 0.89 0.222 1.06 0.856 1.01 9.372 0.98

Note: Cut-off grade of 0.70% Li₂O have been applied for the underground Ore Reserve estimates of Länttä and Emmes deposits. Ore Reserve figures in the tables may not sum to equal totals due to rounding.

The Ore Reserve estimates have been prepared by AFRY / Pöyry Finland Oy by competent persons under the supervision of Ville-Matti Seppä MSc (Geology), who has an EurGeol qualification. Ore Reserves estimates have been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012).

“Approximately 50 percent increase in the Rapasaari Ore Reserves is a result of our systematic drilling program and mine planning. We are pleased that the potential of the Rapasaari deposit has been converted into Ore Reserves. Rapasaari deposit with the largest Ore Reserve estimate is an important target for us and we will continue our drilling program on the Rapasaari deposit itself as well as in its immediate vicinity. We estimate that the positive development in the Rapasaari Ore Reserve estimate and earlier in Syväjärvi Ore Reserve estimate, will extend the operating time of our own ores to approximately sixteen years,” says Pertti Lamberg, CEO of the Company.

Further information:

Chief Geologist Pentti Grönholm, tel. +358 50 3481 535

CEO Pertti Lamberg, tel. +358 50 599 1189

Attachment: JORC2012 code table 1 section4 report Keliber Rapasaari

Attachments



5.12.2019 / Keliber Oy


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