Significant increase in Keliber’s mineral resources in Finland

Keliber Oy continued the diamond drilling program during H2 2017 and throughout the first part of 2018. Total of 11.4 km has been drilled in the areas of Rapasaari, Syväjärvi and Emmes lithium deposits. As a result of the drilling program, the measured and indicated mineral resource estimates in accordance with the JORC 2012 code have increased by 1.408 million tonnes (17 %) compared with the June 2017 estimates. The most significant increase in the indicated mineral resources, almost one million tonnes, is in the Rapasaari lithium deposit. Including the inferred mineral resources, the total mineral resources of the company are 10 million tonnes.

During H2 2018, the company continues the drilling program in the areas of Rapasaari, Syväjärvi and Leviäkangas deposits. In Rapasaari, the drilling will be concentrated in the northern and southern part of the currently known deposit. In Syväjärvi and Leviäkangas, mainly the northern parts of the known ore veins will be drilled.The mineral resource estimates (JORC 2012) have been prepared in May 16, 2018 by Markku Meriläinen and Pekka Lovén.

The lithium deposits of Rapasaari, Syväjärvi, Leviäkangas and Outovesi are located in the municipalities of Kaustinen and Kokkola and the lithium deposit of Emmes in the municipality of Kruunupyy. All deposits are about 15 – 25 km from the company’s planned Kalavesi mineral processing plant. Syväjärvi and Outovesi deposits can be mined as a conventional open pit, Rapasaari and Länttä as open pit and underground operation. Emmes is going to be an underground mine.

The ore reserve estimate in accordance with the JORC 2012 code, will be updated when the definitive feasibility study of the company’s lithium project is published.

“We are pleased with the received results. Mineral resources have increased in all drilled deposits. Especially development of mineral resources in Rapasaari has been excellent,” says Pertti Lamberg, CEO of the company.

“We estimate that there is still additional potential in the Rapasaari deposit and in the near vicinity of the area. Similarly, in Syväjärvi, we see a good opportunity for the future positive development of mineral resources. We will continue the ongoing diamond drilling program this year, in both Syväjärvi and Rapasaari areas, “says Pentti Grönholm, Chief geologist of the company.