Drilling on Keliber´s new exploration target in Finland continues with improving results. So far 16 holes, approximately 1,200 meter, have been drilled.

As previously informed a new and possibly significant spodumene pegmatite vein has been identified in northern Kaustinen municipality. The vein continues in northern direction and has so far reached a total length of 300 meter. The vein thickness has increased from about 5 meter in south to about 10 meter in north as true width. The vein continues to be open in northern direction.

Analytical results of drill cores from the first 13 drill holes in the southern and middle parts of the area give an average lithium grade of approximately 1.2% Li₂O. The analysis has been done by the Finnish laboratory Labtium Oy. In comparison, Keliber's Länttä deposit is measured to a length of approximately 400 meter with true width of the two main spodumene pegmatite veins varying from 5 to 10 meters and an average lithium grade of 1.0% Li₂O.

Drilling will continue in northern direction to investigate further extension of the vein. The drilling program on this particular target is scheduled to be finished mid-December. The last analytical results can be expected mid-January 2011 and a preliminary resource estimate on the target will be scheduled late January 2011.

Keliber's general manager Olle Sirén comments: "Apparently the ongoing drilling campaign has identified an interesting target. Both vein thickness and lithium grades so far are very promising for Keliber. We look much forward to further results from the campaign and the preliminary resource estimate. Hopefully, we will have sufficient information for a first independent and classified resource estimate."   

As from mid-December, Keliber's drilling program will continue in other targeted areas in the Ostrobothnia lithium province. The purpose is to identify additional resources for Keliber's contemplated lithium production.

For questions please contact CFO Lars K. Grøndahl, telephone + 47 - 901 60 941.

 

Oslo, 1 December 2010
Nordic Mining ASA

 

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)