Ore Reserve grows its Finland lithium deposit by 50%
Ore Reserve said yesterday that its Keliber’s Rapasaari lithium deposit now has estimated proven and probable ore reserves of 5.280 million tonnes, which is 49.6 percent more than previously estimated.
Ore Reserve said the total JORC 2012 compliant total Proven and Probable Ore Reserves for the company, using a cut-off grade of 0.40% Li2O for the open pit Ore Reserves and a cut-off grade of 0.40 – 0.70% Li2O for the underground ore reserves, are 9.372 million tonnes with a grade of 0.98% Li2O.
CEO Pertti Lamberg said drilling will be ongoing.
“Approximately 50 percent increase in the Rapasaari Ore Reserves is a result of our systematic drilling program and mine planning. We are pleased that the potential of the Rapasaari deposit has been converted into Ore Reserves. Rapasaari deposit with the largest Ore Reserve estimate is an important target for us and we will continue our drilling program on the Rapasaari deposit itself as well as in its immediate vicinity. We estimate that the positive development in the Rapasaari Ore Reserve estimate and earlier in Syväjärvi Ore Reserve estimate, will extend the operating time of our own ores to approximately sixteen years,” says Lamberg.
The lithium project is situated in Finland.