Measured and Indicated Mineral Resources of the Rapasaari Lithium Deposit Increased by More than 30 Percent
The Mineral Resource estimate for Keliber’s Rapasaari lithium deposit has been updated. According to the new estimate, the Measured and Indicated Mineral Resources of Rapasaari are 8.10 million tonnes, which is 31 percent more than previously estimated. Including the Inferred Mineral Resource category, the increase is 17.4 percent.
Over the past 15 months, Keliber has continued its exploration and resource drilling program. Since the previous estimate, published in September 2019, an additional 11,413 meters have been drilled at the Rapasaari deposit, now totaling 48,133 meters. The resource drilling focused on the southern extension of the deposit, where most of the new resources have been defined. In addition, exploration and sterilisation drilling programs were undertaken on a larger area, with an additional 9,000 meters drilled.
Considering all three categories, the Mineral Resources of the Rapasaari deposit are now estimated at 9.64 million tonnes with an average lithium oxide (Li2O) grade of 0.98%. Based on the infill drilling, it was possible to successfully upgrade a portion of the previously Inferred Mineral Resources to the Indicated category, showing an increased confidence level of the estimate. Considering all three Mineral Resource categories, the increase is 17.4 percent.
The total Measured and Indicated Mineral Resources of Keliber now total 13.69 million tonnes (previously 11.77). Including the Inferred Mineral Resources, the total Mineral Resources are 15.62 million tonnes (previously 14.19). The average Li₂O grade of the Company’s combined Mineral Resources is 1.05%.
Keliber’s Mineral Resource estimates comply with the JORC 2012 code, and are reported at a cut-off grade of 0.50% Li₂O. The tables below summarize the Mineral Resource estimate for the Rapasaari lithium deposit as well as Mineral Resource estimates for all of the Company's lithium deposits.
|Rapasaari Mineral Resource Estimates (JORC 2012)|
|Keliber’s Total Mineral Resource Estimates (JORC 2012)|
“We are very pleased with the continued successful results we have obtained from the Rapasaari exploration program. They are, once again, a good indication of the geological and resource potential of Central Ostrobothnia's lithium province. These Mineral Resource estimates will underpin an updated Ore Reserve estimate later this year and in parallel we will continue exploration activities in the Rapasaari and Syväjärvi areas,” says Hannu Hautala, CEO of Keliber.
The new Mineral Resource estimate for Rapasaari has been prepared and reported by Payne Geological Services Pty Ltd., an independent Australian consulting company. Competent Person is Mr. Paul Payne, ref. information below. The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012).
Chief Geologist Pentti Grönholm, tel. +358 50 3481 535
COMPETENT PERSON’S STATEMENT
The Information in this release that relates to Mineral Resources is based on information compiled by Mr. Paul Payne, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Payne is a full-time employee of Payne Geological Services. Mr. Payne 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. Payne consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
Keliber is a European, Finnish special chemical and mining company with the aim of producing sustainable, battery-grade lithium hydroxide for the growing lithium battery industry in 2024 by utilizing own ore. www.keliber.fi