22.6.2017 | Company Announcement / Press release
Significant increase of Keliber’s mineral resources
Keliber Oy has conducted diamond drilling during the summer 2016 and during the winter 2016 - 2017 in the area of Rapasaari and Syväjärvi lithium deposits. As a result of the drilling programs, the measured and indicated mineral resource estimates in accordance with the JORC (2012) code have increased by 2.08 million tonnes (35 %) compared with the March 2016 estimates. Keliber Oy's new JORC (2012) mineral resource estimates, using a 0.50% Li2O cut-off grade are:
|Estimate of mineral resources (million metric tonnes), June 2017|
|Ore grade (Li2O %)||1.06||1.24||1.43||1.15||1.14||1.40||1.19|
The mineral resource estimates (JORC 2012) have been prepared by June 20, 2017 by Markku Meriläinen (MAusIMM) and Pekka Lovén (MAusIMM (CP)).
Extensions of the Rapasaari lithium deposit to north, northwest, and west are still underexplored. The company continues drilling of the Rapasaari deposit. During the drilling program that continues until the end of June 2017, about 1,500 meters will be drilled in the northern part of the currently known Rapasaari deposit. Subsequent of the Rapasaari drilling also other prospective areas are targeted for exploration.
The lithium deposits of Rapasaari and Syväjärvi are located in the municipalities of Kaustinen and Kokkola, about 20 km from the company's planned Kalavesi production plant. Both deposits can be mined as conventional open pit.
The ore reserve estimate in accordance with the JORC (2012) code will be updated when the definitive feasibility study of the company’s lithium project is published.
"We are pleased with the received results," says Pertti Lamberg, CEO of the company. "For Rapasaari, the results so far are very good. Based on the results received from the drillings, we estimate that there is still additional potential in the Rapasaari area, and we will continue the ongoing diamond drilling till the end of June 2017, "says Lamberg, CEO.
Chief geologist Pentti Grönholm, tel. +358 (0) 50 3481 535
22.6.2017 / Keliber Oy