Significant increase in Keliber’s mineral resources
As a result of the drilling program in 2017/2018, Keliber’s measured and indicated mineral resources have increased by 17%, to approximately 9.5 million tonnes.
Nordic Mining’s associated company, Keliber has carried out an extensive drilling program in the second half of 2017 and the first part of 2018. In total, around 11.4 km has been drilled in the Rapasaari, Syväjärvi and Emmes lithium deposit areas. As a result of the drilling program, the total mineral resource estimate for the measured and indicated categories in accordance with the JORC code 2012 has increased by 1.4 million tonnes (17%) compared with the June 2017 estimate. The most significant increase, around 1.0 million tonne, is in the Rapasaari deposit. Including the inferred mineral resources, Keliber’s total mineral resources are 10 million tonnes.
Keliber's new mineral resource estimates, using a 0.50% Li2O cut-off grade, are:
|Estimate of mineral resources (million metric tonnes), May 16, 2018|
|Mt||Länttä||Syväjärvi||Outovesi||Rapasaari||Leviäkangas||Emmes||Total||Grade (Li2O %)|
|Grade (Li2O %)||1,04||1,24||1,43||1,13||1,14||1,22||1,16||1,16|
The mineral resource estimates (JORC code 2012) have been prepared by Markku Meriläinen (MAusIMM) and Pekka Lovén (MAusIMM (CP)).
Keliber will continue drilling in the second half of 2018 in the areas of Rapasaari, Syväjärvi and Leviäkangas deposits.
The ore reserve estimates in accordance with the JORC code will be updated in connection with the ongoing definitive feasibility study.
For further information please see Keliber’s press release today at www.keliber.fi. For questions please contact CFO Lars K. Grøndahl on telephone +47 901 60 941.
Oslo, 16 May 2018
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA ("Nordic Mining" or "the Company") is a resource company with focus on high-end industrial minerals and metals in Norway and internationally. The Company's project portfolio is of high international standard and holds a significant economic potential. The Company's assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the west coast of Norway where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Permits for the project have been granted by the Norwegian government, and a prefeasibility study was completed in October 2017. Nordic Mining's associated company Keliber in Finland is in the process of completing its definitive feasibility study and preparing for production of lithium carbonate. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Norway. Further, the Company holds exploration rights at Reinfjord in northern Norway where a prospective area of sulphide mineralisation has been discovered. Nordic Mining is also exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol "NOM".