Significant increase of Keliber’s mineral resources
Positive results from drilling program have increased Keliber's estimated mineral resources with 2.08 million tonnes (35%) compared with previous estimate from 2016.
During the summer 2016 and winter 2016 – 2017, Nordic Mining’s associated company Keliber Oy has conducted drilling at the Rapasaari and Syväjärvi lithium deposits. As a result of the drilling programs, the measured and indicated mineral resource estimates in accordance with the JORC code (2012 Edition) have increased by 2.08 million tonnes (35%) compared with the previous March 2016 estimate.
Keliber's new mineral resource estimates, using a 0.50% Li2O cut-off grade, are presented in the table below:
|Ore grade (Li2O %)||1.06||1.24||1.43||1.15||1.14||1.40||1.19|
The mineral resource estimates have been prepared by Markku Meriläinen (MAusIMM) and Pekka Lovén (MAusIMM (CP)).
The ore reserve estimates will be updated in connection with the ongoing definitive feasibility study (DFS) for Keliber’s lithium project.
Further drilling will continue in the Rapasaari area till the end of June 2017 and subsequently exploration will target other prospective areas.
Keliber’s press release and further information of exploration activity is available at www.keliber.fi.
For questions, please contact CFO Lars K. Grøndahl, telephone +47-90160941.
Oslo, 22 June 2017
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.
Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking a large-scale project development at Engebøfjellet in Sogn and Fjordane 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. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Hordaland and develops the project through its subsidiary Nordic Quartz AS. Nordic Mining’s associated company Keliber Oy in Finland plans to start mining of lithium bearing spodumene and production of lithium carbonate. Nordic Mining holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where the Company has discovered a prospective area of sulphide mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.