MEASURED AND INDICATED MINERAL-RESOURCES INCREASED SIGNIFICANT FROM 3.5 MILLION TONS TO 6 MILLION TONS RESOURCES AT THE SILVER MINE.
Sotkamo Silver is pleased to announce that the amount of measured and indicated mineral- resources have increased by 70 % in terms of tonnage, or with 57 % in terms of amounts of silver, using a cut-off at 50 g/t silver at the Silver Mine.
Measured and indicated mineral-resources have increased from 10.3 million ounces to 16.2 million ounces and from 3.5 million tons to 6 million tons resources.
Resources-increase are due to re-interpretation of geology based on results of extensive sludge-drilling program with significant new silver-rich drill intersections during 2013. Special attention in modelling has been paid on geological continuity, which creates larger mineralised bodies. In the mine planning procedure, this gives an opportunity to schedule mining-operations in a way where ores with highest silver-contents will be mined during first years. This improves the profitability of the planned mining-operations. The deposit is open at depth and based on geophysics. The geological formation with same properties continues below presently known 550 meter level all the way down to at least 1.500-2.000 meters.
The updated mineral-resources are based on the 2013 completed sludge-drilling program and have been estimated in accordance with the guidelines of the JORC Code (2004). Based on these figures mine-plan and ore-reserves will be up-dated during Q1/2014.
Total Mineral Resources as of January 15th 2014 are shown in the table below at a 50g/t Ag cut-off grade.
“I am very pleased with these excellent results. The significant increase in measured and indicated mineral-resources means that Sotkamo Silver's mine-plan can be up-dated and I expect that it will be ready during first quarter of 2014.” says Timo Lindborg, CEO of Sotkamo Silver AB.
Stockholm, January 28, 2014
SOTKAMO SILVER AB (publ.)
Timo Lindborg, CEO
The independent consultant Dr. Jyrki Parkkinen, Doctor in Geology, EURGEO. He holds Qualified Person status under “The European Federation of Geologists” (EFG) has conducted the mineral resource estimation. Dr. Parkkinen is completely independent from the Company and he does not hold any shares in Sotkamo Silver.
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act
The official Stock Exchange Releases are given in Swedish and there may be slight differences in the translated versions.
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns, through its subsidiary mineral deposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101-code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI in NGM and SOSI1 in NASDAQ OMX Helsinki. ISIN-code for Sotkamo Silver shares is SE0001057910..
Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Timo Lindborg, CEO, tel. +358 40 508 3 507
