Eurobattery reports 50% resources increase at Hautalampi Ni-Cu-Co project in Finland
(Kitco News) - Eurobattery Minerals, a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announced a new maiden mineral resources estimate results from its Hautalampi mine development project in Finland.
According to a press-release, compared to earlier estimates, the total tonnage in the measured, indicated and inferred resource categories has increased approximately 100% and contained metal approximately 50% in the mine lease area.
Hautalampi deposit's updated measured and indicated mineral resources amounted to 5.3 million tonnes (Mt) at an average grade of 0.35% Ni, 0.24% Cu and 0.08% Co, with contained Ni metal of 18,300 tonnes, Cu metal of 12,800 tonnes and Co metal of 4,300 tonnes in the measured and indicated category. The company said that additional inferred resources at Hautalampi area are 0.2 Mt at an average grade 0.26% Ni, 0.14% Cu and 0.05% Co.
Additionally, a newly established NorthEastern extension of Hautalampi project, known as "the Mökkivaara deposit", has following inferred resource: 2.2 Mt at an average grade 0.25% Ni, 0.16% Cu and 0.06% Co, with contained Ni metal of 5,400 tonnes, Cu metal of 3,500 tonnes and Co metal of 1,200 tonnes.
"We are very pleased for the outcome of this now completed JORC-compliant mineral resource estimate of the Hautalampi project. Compared to earlier, historical resource estimates from the area, we can observe that the total resource tonnage has doubled and contained metal tonnes increased some 50%," commented CEO Roberto Garcia.
Eurobattery Minerals is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy, an owner of Hautalampi project, in a staged acquisition.