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Sibanye-backed lithium developer Keliber reports maiden mineral resources at its Tuoreetsaaret deposit in Finland

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(Kitco News) - Lithium developer Keliber Oy today announced maiden mineral resource estimate for its Tuoreetsaaret lithium deposit in Finland.

According to the company's statement, initial mineral resources (all inferred) at Tuoreetsaaret amounted to 1.41 million tonnes with an average grade of 0.70% Li2O, which increases Keliber's total mineral resources by 9 percent, to 17.03 million tonnes (previously 15.62 million tonnes).

Keliber said that the Tuoreetsaaret deposit is located between the Rapasaari and Syväjärvi lithium deposits, adding that the company initiated the exploration campaign at the Tuoreetsaaret area in March 2020.

Importantly, the company noted that the Tuoreetsaaret deposit is located next to the future concentrator plant.

"The discovery of a new lithium deposit at Tuoreetsaaret is a good indication of the ore potential in our exploration areas. We will continue exploration activities in the area and upgrade the mineral resource categories by infill drilling," said Chief Geologist Pentti Grönholm.

Keliber is a European, Finnish special chemical and mining company with the aim of producing sustainable, high-purity, battery-grade lithium hydroxide for the growing lithium battery industry in 2024 by utilizing own ore.

The planned operations include lithium mines and the concentrator plant in Kaustinen, Kokkola and Kruunupyy, Finland, and a lithium hydroxide plant in Kokkola.

Earlier in September 2021, Keliber reported that estimated proved and probable ore reserves at its Keliber project's largest Rapasaari deposit now total 8.21 million tonnes, up 55% from the previous estimate, at an average lithium oxide (Li2O) grade of 0.89.

Sibanye-Stillwater owns approximately 30% of Keliber.


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