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20.6.2019 | Company Announcement / Press release
Ore reserves of keliber’s Syväjärvi deposit increased after new drillings

The mineral reserve and ore reserve estimates for Keliber’s Syväjärvi lithium deposit have been updated. Estimated proven and probable ore reserves total 1.924 million tonnes, which is about 10 percent more than previously estimated.

After the publication of the previous Syväjärvi mineral resource estimate in May 2018, the company has continued its drilling program and drilled a total of 8397 meters in the Syväjärvi area. The estimated mineral resources of the Syväjärvi deposit have increased. The JORC 2012 compliant measured and indicated mineral resources of the Syväjärvi deposit, total 2.710 million tonnes at a cut-off grade of 0.50% Li₂O. Including the inferred mineral resources category, the mineral resources of the Syväjärvi deposit amount to 2.830 million tonnes. The Li₂O grade of the Syväjärvi mineral resources is 1.20 %.

Based on the results of the drillings and the technical and financial estimates included in the updated definitive feasibility study for the lithium project published in February 2019, a new ore reserve estimate has been prepared in accordance with the JORC code (2012). The proven and probable ore reserves of the Syväjärvi deposit, using a 0.40% Li₂O cut-off grade for the open pit reserves, are 1.924 million tonnes with a grade of 1.13 % Li₂O. In addition to the approximately 10 per cent increase in the ore reserves of the Syväjärvi deposit, the category of proven ore reserves has increased from the previous 0.735 million tonnes to 1.433 million tonnes.

The tables below summarize the prepared new ore reserve and mineral resource estimates of the Syväjärvi lithium deposit.

Ore reserves - Syväjärvi

Category Mt Li₂O % Cut-off JORC

Proven 1.433 1.18 0.40 2012

Probable 0.491 0.97 0.40 2012

Total 1.924 1.13


Mineral resources - Syväjärvi

Category Mt Li₂O % Cut-off JORC

Measured 1.540 1.33 0.50 2012

Indicated 1.170 1.07 0.50 2012

Inferred 0.120 0.79 0.50 2012

Total 2.830 1.20

The above mineral resources include ore reserves.

The ore reserve estimates have been prepared by Pöyry Finland Oy by competent persons under the supervision of Ville-Matti Seppä MSc (Geology), who has an EurGeol qualification. The mineral resources have been estimated and reported by Payne Geological Services Pty Ltd. Both 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).

“We are pleased that our investments in mineral exploration and diamond drilling have produced good results and we that are able to demonstrate the potential of the area in the form of increased mineral resources and ore reserves. This encourages us to continue further with additional drillings. As a result of our drilling program, we have also increased the knowledge and confidence level of the Syväjärvi ore,” says Pertti Lamberg, CEO of the company. “In addition to Syväjärvi, we have also continued our drilling program in the Rapasaari area, and we will later during 2019 update the mineral resource and ore reserve estimates of the Rapasaari deposit,” says Mr. Lamberg.

Further information:

Chief Geologist Pentti Grönholm, telephone +358 50 3481 535

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20.6.2019 / Keliber Oy


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