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Stockholm, 24 May 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”), today announces that FinnCobalt Oy, current owner of the Hautalampi project, has submitted the Hautalampi project Environmental Impact Assessment (EIA) Report to the North Karelia Centre for Economic Development, Transport and the Environment (“ELY-centre“) for official review. The EIA report will present the current status of the environment of the Hautalampi mine project, the environmental impact of the assessed options as well as their significance. As soon as the environmental compatibility of the Hautalampi project is officially confirmed, one of the conditions for Eurobattery Minerals to start mining at Hautalampi will be fulfilled.
“We are very pleased that we have now completed this important step. The environmental impact assessment is a key part in our business strategy to establish a battery mineral mine and provide responsible mined European minerals. The report is comprehensive and includes all the environmental aspects of the Hautalampi project,” comments Roberto García Martínez, CEO of Eurobattery Minerals AB.
The report comprises two different options for the Tailings Storage Facility and two options for the discharge waters and has been drafted based on the EIA-programme and the competent authority’s official conclusion on the programme. The official conclusion of the Environmental Impact Assessment report is expected on 22 September 2022. FinnCobalt Oy will commence the preparation of the Environmental Permit Application immediately and will submit the application in due course.
The report has been compiled by Envineer Oy together with FinnCobalt Oy own personnel and other consultants and is available (in Finnish) at the following links:
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 31st of March 2022 – Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces first results from the phase 2 drilling campaign completed at the FinnCobalt Hautalampi Ni-Co-Cu project in eastern Finland, a project Eurobattery Minerals have the option to acquire to 100 %.
The results indicate a connection and resource expansion potential between the earlier defined Hautalampi and Mökkivaara resources making intended future mining operations more efficient and economic. Complete results (initially planned for in Q1 2022) are delayed due to Covid-19 problems at the external ALS Laboratory, Ireland. Results and a mineral resource update in accordance with the JORC code, is now expected in Q2.
Key points
- The first received assay results and visual observations from phase 2 drilling campaign in Hautalampi Ni-Co-Cu project give a strong indication that Hautalampi and Mökkivaara resources are connected.
- The company expect to receive final assays results based on the 1,600 samples from 45 drill holes completed in phase 2 drilling campaign including a mineral resource update in the second quarter of 2022.
- Complete results (initially planned for in Q1 2022) are delayed due to Covid-19 at the external ALS laboratory in Ireland. Results and a mineral resource update in accordance with the JORC code, is now expected in Q2.
- Previous drilling campaign in 2020 confirmed a resource increase of approximately 100%.
“From what we know to date, the drilling has confirmed our view of the connection between Hautalampi and Mökkivaara resource area. This means that we most probably have some 2,5 km continuous resource area. This will subsequently make intended future mining activities more efficient and economic. Obviously, we are very eager to get the results and as such concerned about the delay caused by ALS laboraory in Ireland due to circumstances outside of our control”, comments Roberto García Martínez, CEO of Eurobattery Minerals.
Additional information
FinnCobalt Oy commenced the new drilling campaign (Phase 2) in mid-October 2021 in the Hautalampi mine project development area. The campaign covered the previously non-drilled gap area between the Hautalampi deposit and the north-eastern extension of the project, known as the Mökkivaara deposit, and aimed to verify resources between these already established deposits.
The goals of the Phase 2 drilling campaign were:
- Fill the drilling gap between the existing Hautalampi resource area and the north-eastern extension known as the Mökkivaara resource area (Central-Gap fill).
- Convert inferred resource to indicated resource at the Hautalampi resource area through drilling the most important gaps in the currently existing indicated resource zone (Hautalampi-Resource conversion).
- Extend the Hautalampi resource area further to the northeast (Central-Resource extension).
- Create an indicated mineral resource of the Mökkivaara resource by increasing the drilling density.
Phase 2 drilling campaign was completed in late 2021. In total 45 drill holes were completed for a total of 4,606 meters. More than 1,600 samples will be submitted for geochemical assaying at ALS Geochemistry in Outokumpu and Ireland.
The first received assay results and visual observations give a strong indication that Hautalampi and Mökkivaara resources are connected. Assay results from the first 18 holes are:
The true width of the intercepts is estimated to be mainly 80 – 90 percent and in minimum 75 percent of the intercept length. In HA21-125 and HA21-126 the true width is estimated to be lower than in other holes because of oblique drilling against the strike. All core loss is assigned a 0 value. Notable core loss occurs in HA21-120 between 64.42m – 65.62m, totalling 1.2 m.
NiEq = nickel equivalent percentage. NiEq grade is calculated using USD prices of nickel $17,500/t, copper $7500/t and cobalt $45,000/t. No metallurgical or recovery factors have been assumed at this early stage of the Project. NiEq grade calculation = NiEq = Ni% + (Co%*45000 + Cu%*7500)/17500.
Quality assurance and quality control (QA/QC)
Drill core is logged and sampled in a secure core storage facility located in Outokumpu, Finland. The core samples were sent to ALS Laboratories in Outokumpu, Finland, for cutting the core in half by a diamond saw and for sample preparation. From Outokumpu, the samples were sent to ALS Laboratories in Ireland for a four-acid digest multi-element suite including cobalt, nickel, and copper. Based on previous studies the silicate nickel content of the Hautalampi host rock is below 0.03 %. Blank, field duplicates, and standards were included in the sample batches and their values allow the public disclosure of the assay results. No QA/QC issues were noted with the results reported herein.
Qualified person
The technical information in this press release has been reviewed by Dr Hannu Makkonen from Suomen Malmitutkimus Oy. He has over 40 years of experience in mineral exploration in Finland, he is a European Geologist (EurGeol) and a Competent/Qualified Person as defined by the PERC Reporting Standard 2021, JORC Code, 2012 Edition, and by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr Makkonen owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
Follow us:
LinkedIn: https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 31st of March 2022 at 07:30 CET.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. 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.
Visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
Stockholm, 28 December 2021 – Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces the completion of the drilling campaigns in its Hautalampi project in Finland and its Corcel project in Spain. The campaigns have been completed on schedule and on budget. The drill cores have been dispatched to a laboratory operated by ALS to verify the resources. Due to delays at the lab because of the Covid-19 pandemic, the results will be presented in the first quarter of 2022.
“We are pleased to announce the completion of the drilling campaigns in both the Hautalampi and Corcel projects, where we see great potential for mining battery minerals on European soil. We are now eagerly awaiting the results from the lab,” comments Roberto Garcia, CEO of Eurobattery Minerals.
About the Hautalampi project drilling campaign
FinnCobalt Oy has informed Eurobattery Minerals that the recent core drilling campaign at the Hautalampi Mine development project (“Phase 2”) has been completed on schedule and on budget. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
FinnCobalt Oy commenced a new drilling campaign in mid-October 2021 in the Hautalampi mine project development area. The campaign covered the previously non-drilled gap area between the Hautalampi deposit and the north-eastern extension of the project, known as the Mökkivaara deposits, and aimed to verify resources between these already established deposits.
In total, 45 holes have been completed totalling 4,606 metres in length. The Phase 2 drilling campaign will continue with core logging and assaying, which is expected to be completed during the first quarter of 2022. This will be followed by the mineral resource update to be completed in the second quarter of 2022.
The main goals of the Phase 2 drilling campaign were:
- Convert inferred resource to indicated resource at the Hautalampi resource area through drilling the most important gaps in the currently existing indicated resource zone (Hautalampi-Resource conversion).
- Extend the Hautalampi resource area further to the north-east (Central-Resource extension).
- Fill the drilling gap between the existing Hautalampi resource area and the north-eastern extension known as the Mökkivaara resource area (Central-Gap fill).
- Create an indicated mineral resource of the Mökkivaara resource by increasing the drilling density.
Based on the visual observations of the drill cores, the campaign is expected to reach all the goals set.
Map of the drilling operations in the Hautalampi project
About the Corcel project drilling campaign
The diamond drilling campaign in Eurobattery Minerals’ Spanish Corcel project initiated in June 2021 has been completed on budget and on schedule.
Key points from the 2021 drilling campaign:
- The drilling campaign initiated in June 2021 at the Corcel Project has been completed.
- A total of seven diamond drill holes were completed at a total drilled length of 1,134 metres.
- Work in this campaign focused on the “West Anomaly,” where drill hole COR003 (19DD001) confirmed at depth the favourable results obtained in the geochemical campaign, with an average of 69m @ 0.30% Ni, 0.038% Cu, 0.01%.
A total of seven diamond drill holes were completed at a total drilled length of 1,134 metres. Work focused on the “West Anomaly,” where the company’s previous exploration work recorded ground anomalies of up to 0.33% Ni coincident with an increase in the magnetic response of the underlying rocks. DDH COR003 (19DD0001) confirmed the source of the anomaly in this area with an average grade of 69m @ 0.30% Ni, 0.038% Cu, 0.01% Co from 78m, including 21m @ 0.345% Ni, 0.045% Cu, 0.011% Co from 78m depth. Work will continue with the logging and sampling of the drill holes and is expected to be completed in the first quarter of 2022.
The objective of this campaign was to fully recognise this anomaly and obtain a resource estimate in this area. Based on the core observations in the boreholes, the campaign is expected to achieve its objective and a proven resource estimate in accordance with National Instrument 43-101 – Standards for Disclosure for Minerals Projects (“NI 43-101”) is expected in the first quarter of 2022.
Image 1. DDH realised in the 2021 campaign.
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
Follow us:
LinkedIn: https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. 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.
Visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
- The new drilling campaign, starting in mid-October 2021, will target the Hautalampi project resource increase
- The campaign will cover the previously non-drilled gap area between the Hautalampi deposit and the north-eastern extension of the project known as the Mökkivaara deposits aiming to verify resources between these already established deposits.
- Previous drilling campaign in 2020 confirmed a resource increase of approximately 100%
- With a target of approximately 5,000 meters of new drilling, the campaign will be finalized in early 2022
Stockholm, 14th October 2021. Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart “EBM”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that FinnCobalt Oy is about to commence drilling at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project (“Hautalampi”; “the project”) in Outokumpu, eastern Finland. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition. Eurobattery Minerals is assuming the full cost for this drilling campaign as part of the option agreement between Eurobattery Minerals and FinnCobalt Oy.
“We are pleased to start a new drilling campaign at our nickel-copper and cobalt Hautalampi-project. Last year’s drilling campaign verified a 100% increase in the mineral resources of the area. We are now excited to see, if the Hautalampi and the Mökkivaara deposits are connected to each other as anticipated. This connection would make the production from Mökkivaara deposit economically more feasible as development works could be done in ore body,” said Roberto García Martínez, CEO of Eurobattery Minerals.
A diamond drill rig and crew are scheduled to arrive at the site on Wednesday 13th October with drilling to commence immediately. The experienced Finnish drilling contractor, Northdrill has previously worked on the project in 2017-2018 and 2020.
The main goals of this drilling campaign are:
- Converting inferred resource to indicated resource at the Hautalampi resource area through drilling the most important gaps in the currently existing indicated resource zone (Hautalampi-Resource conversion).
- Extending the Hautalampi resource area further to the NE (Central-Resource extension).
- Filling the drilling gap between the existing Hautalampi resource area and the north-eastern extension known as the Mökkivaara resource area (Central-Gap fill).
- Creating an indicated mineral resource of the Mökkivaara resource through increasing the drilling density.
Figure 1. Location map of Hautalampi Project, eastern Finland
Figure 2. Plan view of Hautalampi and Mökkivaara resources highlighting proposed drill hole collar locations (red dots).
About the Hautalampi project
The Hautalampi Project is located at the same site as the famous Keretti (Outokumpu) copper mine (Figure 1). Approximately 28.5Mt @ 3.8% Cu was mined at Keretti from 1912 – 1989. The Hautalampi Ni-Co-Cu orebody is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations and roads, provide significant location advantages to the project. Approximately €10-15M has been invested in Hautalampi by previous owners, including 26,000m of core drilling, a decline and additional underground mine development works (2,100m), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study. The previous investment enables FinnCobalt Oy and BAT to fast-track the project to an updated feasibility study status.
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
Follow us:
LinkedIn: https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. 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.
Visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the company”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has been informed that FinnCobalt Oy has received a complete JORC 2012 compliant Mineral Resource report entitled “Hautalampi Ni-, Cu-, Co-Deposit Mineral Resource Estimate, Outokumpu, Finland” for the Hautalampi Mine development project. The Mineral Resource Report provides an update for the Hautalampi deposit and adjoining Mökkivaara deposit resources. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
The report has been prepared by AFRY Finland Oy and can be found from:
https://investors.eurobatteryminerals.com/en/projects/hautalampi/
The resource estimate is based on the database containing ca. 82 000 meters, 457 holes of core drilling including 3 768 meters, 29 holes which were drilled during 2020.
The new resource estimate covers the whole Hautalampi project area including the results from the year 2020 drilling program at the project, in eastern Finland. The drilling confirmed significant resource expansion from 800m to 1 400m along strike to the northeast of the historical Hautalampi mineral resource to the Mökkivaara area.
“With the report in hand we are now planning for an additional core drilling campaign in the next months to close the gap between Hautalampi and Mökkivaara resource area. We believe that with this additional drilling the tonnage will increase also in the future. The next step will be to use this robust resource base for the technical and economical evaluations of the project viability”, said Roberto García Martínez, CEO of Eurobattery Minerals.
The map of the mine lease area including Hautalampi and Mökkivaara deposit resource areas is presented below.
The resource estimate and estimation principles have been tabulated below:
| Hautalampi | Tonnes | Ni | Cu | Co | S | Ni Eq | Cu Eq |
| (t) | % | % | % | % | % | % | |
| Measured | 2,582,000 | 0.38 | 0.28 | 0.08 | 2.18 | 0.72 | 1.67 |
| Indicated | 2,701,000 | 0.31 | 0.20 | 0.08 | 3.22 | 0.61 | 1.42 |
| total | 5,283,000 | 0.35 | 0.24 | 0.08 | 2.71 | 0.66 | 1.54 |
| Contained Metals | tonnes | 18289 | 12783 | 4337 | |||
| Hautalampi | Ni | Cu | Co | S | Ni Eq | Cu Eq | |
| Tonnes | % | % | % | % | % | % | |
| Inferred | 195,000 | 0.26 | 0.14 | 0.05 | 2.14 | 0.45 | 1.04 |
| Contained Metals | tonnes | 505 | 267 | 98 | |||
| Hautalampi Mineral resource as of 21st June 2021. @ 0.3 Ni Equivalent Cut-off | |||||||
| Mökkivaara | Ni | Cu | Co | S | Ni Eq | Cu Eq | |
| Tonnes | % | % | % | % | % | % | |
| Inferred | 2,186,000 | 0.25 | 0.16 | 0.06 | 2.60 | 0.46 | 1.07 |
| Contained Metals | tonnes | 5410 | 3509 | 1218 | |||
| Mökkivaara Mineral resource as of 21st June 2021. @ 0.3 Ni Equivalent Cut-off |
Mineral resource notes and assumptions:
(1) The mineral resource estimate has an effective date of June 21, 2021. (2) Mineral resources do not have demonstrated economic viability. (3) The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012). (4) Exchange rate used: USD/EUR 1.18. (5) Base case cut-off grade for the estimate of the mineral resources is 0.3 % NiEq. (6) NiEq = nickel equivalent percentage. NiEq grade calculated using (USD prices of) nickel US $17,500 /t, copper US$ 7,500 /t and cobalt US$ 45,000 /t. No metallurgical or recovery factors have been assumed at this early stage of the Project. NiEq grade calculation = Ni% + (Co%*45000+Cu%*7500)/17500. (7) It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration. (8) FinnCobalt is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources. The Ordinary Kriging method (“OK”) algorithm for grade interpolation was used for the Hautalampi Mineral Resource using an experimental variogram models created for the elements Ni, Cu, Co, S, Fe, and Zn. Mökkivaara Mineral Resource estimation was carried out using the Inverse Distance Squared method (“ID2”) algorithm using a search ellipsoid oriented to the average strike, plunge and dip of the mineralised zone.
Samples within the wireframes were composited to 1.5 m intervals. The estimate is based on a block size of 5 m (X)by 5 m (Y) by 5m (Z), with sub-blocks of 2.5m by 2.5m by 2.5m. The block model is rotated -45 degrees around Z -axis to match the general strike of the mineralization. A bulk density value of 2.82t/m³ was assigned to all materials (ore and waste).
Competent Person’s Statement
The Information in this release that relates to Mineral Resources is based on information compiled by Mr. Ville-Matti Seppä, a Competent Person who has an EurGeol qualification. Mr. Seppä is a full-time employee of AFRY Finland Oy. Mr. Seppä has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr. Seppä has reviewed, verified, and approved the contents of this news release as they relate to the mineral resource estimate. Mr. Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://investors.eurobatteryminerals.com/en/
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. 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.
Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
Highlights
- 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
- The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC-code)
- Hautalampi deposit measured and indicated mineral resource:
- 5.3 million tonnes (Mt) at an average grade of 0.35% Ni, 0.24%Cu and 0.08%
- Contained metal Ni 18 300 tonnes, Cu 12 800 tonnes and Co 4 300 tonnes in the measured and indicated category
- Additional inferred resources at Hautalampi area 0.2 Mt at an average grade 0.26% Ni, 0.14 Cu and Co 0.05%
- Newly established NorthEastern extension of Hautalampi project, known as “the Mökkivaara deposit” with following inferred resource:
- 2.2 Mt at an average grade 0.25%Ni, Cu 0.16% and Co 0.06%
- Contained metal Ni 5 400 tonnes, Cu 3 500 tonnes and Co 1200 tonnes
- The mineral resource is estimated using a database containing approximately 82 000 m of diamond core drilling including 3 768 meters drilled during the 2020 campaign
- An additional drilling campaign is planned for in the coming months. It is expected that the majority of the inferred mineral resources could be upgraded to indicated with this additional drilling
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the company”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has been informed that FinnCobalt Oy has received a new maiden mineral resources estimate results from its Hautalampi mine development project. The new resource estimate includes newly estimated Hautalampi area and its North-Eastern extension known as the Mökkivaara deposit area, which was the target of the year 2020 core drilling campaign. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
“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%”, comments Roberto Garcia, CEO of Eurobattery Minerals AB.
The resource estimate is based on database containing ca. 82 000 meters, 457 holes of core drilling including 3 768 meters, 29 holes which were drilled during 2020.
The resource estimate and estimation principles have been tabulated below:
| Hautalampi project | Tonnes | Ni | Cu | Co | S | Ni Eq | Cu Eq |
| (t) | % | % | % | % | % | % | |
| Measured | 2,582,000 | 0.38 | 0.28 | 0.08 | 2.18 | 0.72 | 1.67 |
| Indicated | 2,701,000 | 0.31 | 0.20 | 0.08 | 3.22 | 0.61 | 1.42 |
| total | 5,283,000 | 0.35 | 0.24 | 0.08 | 2.71 | 0.66 | 1.54 |
| Contained Metals | tonnes | 18289 | 12783 | 4337 | |||
| Hautalampi area | Ni | Cu | Co | S | Ni Eq | Cu Eq | |
| Tonnes | % | % | % | % | % | % | |
| Inferred | 195,000 | 0.26 | 0.14 | 0.05 | 2.14 | 0.45 | 1.04 |
| Contained Metals | tonnes | 505 | 267 | 98 | |||
| Hautalampi Mineral resource as of 21st June 2021. @ 0.3 Ni Equivalent Cut-off | |||||||
| Mökkivaara area | Ni | Cu | Co | S | Ni Eq | Cu Eq | |
| Tonnes | % | % | % | % | % | % | |
| Inferred | 2,186,000 | 0.25 | 0.16 | 0.06 | 2.60 | 0.46 | 1.07 |
| Contained Metals | tonnes | 5410 | 3509 | 1218 | |||
| Mökkivaara Mineral resource as of 21st June 2021. @ 0.3 Ni Equivalent Cut-off |
For details about mineral resource notes and assumptions, please see further down.
Mineral resource notes and assumptions:
(1) The mineral resource estimate has an effective date of June 21, 2021. (2) Mineral resources do not have demonstrated economic viability. (3) The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012). (4) Exhange rate used: USD/EUR 1.18. (5) Base case cut-off grade for the estimate of the mineral resources is 0.3 % NiEq. (6) NiEq = nickel equivalent percentage. NiEq grade calculated using (USD prices of) nickel US $17,500 /t, copper US$ 7,500 /t and cobalt US$ 45,000 /t. No metallurgical or recovery factors have been assumed at this early stage of the Project. NiEq grade calculation = Ni% + (Co%*45000+Cu%*7500)/17500. (7) It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration. (8) FinnCobalt is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources.
The Ordinary Kriging method (“OK”) algorithm for grade interpolation was used for the Hautalampi Mineral Resource using an experimental variogram models created for the elements Ni, Cu, Co, S, Fe and Zn. Mökkivaara Mineral Resource estimation was carried out using the Inverse Distance Squared method (“ID2”) algorithm using a search ellipsoid oriented to the average strike, plunge and dip of the mineralised zone.
Samples within the wireframes were composited to 1.5 m interval. The estimate is based on a block size of 5 m (X)by 5 m (Y) by 5m (Z), with sub-blocks of 2.5m by 2.5m by 2.5m. The block model is rotated -45 degrees around Z -axis to match the general strike of the mineralization. A bulk density value of 2.82t/m³ was assigned to all material (ore and waste).
The new resource estimate covers the whole Hautalampi project area including the results from the year 2020 drilling program at the project, in eastern Finland. The drilling confirmed significant resource expansion potential from 800m to 1 400m along strike to the northeast of the historical mineral resource, as well as continuity of the westernmost mineralised horizon in a southwest direction towards the historic Hautalampi mineral resource.“We have a plan for an additional core drilling campaign in the next months to close the gap between Hautalampi and Mökkivaara resource area. We believe that with this additional drilling the tonnage will increase also in the future. The next step will be to use this robust resource base for the technical and economical evaluations of the project viability”, said Roberto Martinez Garcia.The map of the mine lease area including Hautalampi and Mökkivaara deposit resource areas is presented below.
The complete Hautalampi and Mökkivaara deposit project mineral resources estimate report will be published on the Eurobattery Minerals AB and FinnCobalt Oy web pages immediately when the companies receives the report. This is expected to happen during July 2021.
Competent Person’s Statement
The Information in this release that relates to Mineral Resources is based on information compiled by Mr. Ville-Matti Seppä, a Competent Person who has an EurGeol qualification. Mr. Seppä is a full-time employee of AFRY Finland Oy. Mr. Seppä has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr. Seppä has reviewed, verified, and approved the contents of this news release as they relate to the mineral resource estimate. Mr. Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://investors.eurobatteryminerals.com/en/
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 21th of June 2021 at 08:00 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. 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.
Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
- FinnCobalt Oy has informed Eurobattery Minerals that it will join BATCircle 2.0, a Finnish research project focusing on circular ecosystem of battery metals. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
- FinnCobalt’s own subproject will use materials from the former Outokumpu Keretti copper mine tailings area, part of the Hautalampi mine development project.
- The tailings area sampling will also be incorporated into the current Environmental Impact Assessment (EIA) report for the Hautalampi project, which will be published in autumn.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the company”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has been informed that FinnCobalt Oy will join BATCircle 2.0. BATCircle 2.0 is a Finnish governmental-sponsored research project focusing on mitigating the effects of climate change, developing materials recycling, and contributing to sustainability in all steps of the battery metals and materials value chain.
BATCircle 2.0 aims to improve the manufacturing processes of the mining industry, metals industry, and battery chemicals and increase the recycling of lithium-ion batteries, where cobalt is one of the major metals. The goal of the project is to strengthen the cooperation between the participating companies and research organisations. Furthermore, by creating increased understanding and potential in circularity, it is expected that new business opportunities will come out of the project.
“One important cornerstone of sustainable mining is to make the most out of the material that we have already extracted. Therefore, it’s great that the Finnish government initiates this project, and we are happy to contribute. Further to the environmental aspect, there is also a potentially big financial upside. Extracting battery minerals from the material from the tailing areas can add several years of operational activity at a future Hautalampi mine,” said Roberto García Martínez, CEO of Eurobattery Minerals.
FinnCobalt’s role will be sampling and delivering material from the former Outokumpu Keretti copper mine tailings area. From the historical production data, these tailing areas contain cobalt-bearing pyrite material. Some areas have even been subject to the reprocessing and production of copper concentrate during earlier decades. Sampling will commence during the following weeks, and samples will be delivered to Aalto University, Finland, where suitable processing methods will be tested aiming to produce cobalt chemicals.
If successful, the reprocessing of old tailings can add several years of operational time for the Hautalampi mine project and improve project economics. Also, reprocessing of old tailings will reduce and rectify environmental issues in the area.
As a result of the BATCircle 2.0 project, the company has decided to include the tailing areas sampling in the EIA. The Geological Survey of Finland Mintec Laboratories is also currently doing the test work to reduce environmental issues regarding tailings sulphur grades of the planned Hautalampi mine project. The final EIA report will also incorporate these results and will be presented in Autumn 2021. All these works will reduce the time needed for the final Environmental Permit Application.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://investors.eurobatteryminerals.com/en/
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. 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. Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
- FinnCobalt Oy has informed Eurobattery Minerals that it has commenced preparation of the updated mineral resource estimate for the Hautalampi Ni-Co-Cu Project, which Eurobattery Minerals has the option to acquire by 100 percent.
- Tier-1 process consulting company AFRY (ÅF Pöyry) will prepare the estimation.
- Results of new resource estimates are expected in 6 months.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that FinnCobalt Oy has hired a Tier-1 process consulting company AFRY to prepare a mineral resource estimate for the Hautalampi project (“Hautalampi”; “the Project”). AFRY will also provide other technical and economical evaluations and guidance for FinnCobalt Oy. The results are expected in 6 months. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
“We are very thrilled to see the results of the new resource estimate, it’s an important background factor in developing a battery mineral mine. Our hypothesis’s of the Hautalampi mineralisation extending North-East from the Hautalampi mine was confirmed by last year’s drilling. Now it remains to see the results in numbers”, comments Roberto García Martínez, CEO of Eurobattery Minerals.
The new resource estimate will cover the whole Hautalampi project area including the results from the year 2020 drilling programme at the Project, in eastern Finland. The drilling confirmed significant resource expansion potential from 800m to 1,400m along strike to the northeast of the historical mineral resource, as well as continuity of the westernmost mineralised horizon in a southwest direction towards the historic Hautalampi mineral resource.
Also, the already estimated Hautalampi mine mineral resource will be updated using updated metal price forecasts and results from the recent metallurgical test work, which was completed by GTK Mintec and Outotec Oyj during the years 2018-2019.
AFRY (ÅF Pöyry) is a Swedish-Finnish engineering, consulting and design company within the fields of energy, industry, infrastructure and information technology. It was formed in 1895 and is one of the biggest Scandinavian consulting giants with headcount close to 17,500 consultants all over the world. AFRY is the new common brand resulting from the merger between ÅF (originally, Aktiebolaget Ångpanneföreningen (The Steam-Boiler Association) and Pöyry Oyj.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://investors.eurobatteryminerals.com/en/
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply raw material critical to the expanding electric vehicle battery market. Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 604 22 55 is the company’s Mentor.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”) a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that FinnCobalt Oy has updated the Company on the final assay results from summers drilling programme at the Hautalampi Ni-Co-Cu Project (“Hautalampi”; “the Project”), eastern Finland. The drilling has confirmed significant resource expansion potential from 800m to 1,400m along strike to the northeast of the historical mineral resource, as well as continuity of the westernmost mineralised horizon (Blue Sky 1) in a southwest direction towards the historic Hautalampi mineral resource. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
Key points:
- Final assay results received from the drilling programme completed at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project in eastern Finland.
- Drilling has confirmed significant resource expansion potential from 800m to 1,400m along strike to the northeast of the historical mineral resource as well as continuity of the westernmost mineralised horizon (Blue Sky 1) in a southwest direction towards the historic Hautalampi mineral resource.
- Assay highlights include:
- 5.0m @ 0.19% Ni, 0.07% Co, 0.21% Cu (0.46% NiEq)[1] from 62.0m (HA20-022), and
- 3.0m @ 0.37% Ni, 0.02% Co (0.41% NiEq) from 74.0m (HA20-022)
- 4.7m @ 0.26% Ni, 0.03% Co, 0.11% Cu (0.38% NiEq) from 110.3m (HA20-023)
- incl. 1.4m @ 0.47% Ni, 0.06% Co, 0.23% Cu (0.72% NiEq) from 113.6m
- 7.15m @ 0.46% Ni, 0.06% Co, 0.10% Cu (0.64% NiEq) from 104.5m (HA20-024)
- incl. 0.5m @ 1.15% Ni, 0.18% Co, 0.32% Cu (1.72% NiEq) from 105.5m
- and 2.7m @ 0.51% Ni, 0.05% Co, 0.06% Cu (0.65% NiEq) from 107.15m
- 9.0m @ 0.23% Ni, 0.05% Co, 0.04% Cu (0.38% NiEq) from 39.0m (HA20-025)
- 9.0m @ 0.24% Ni, 0.09% Co, 0.18% Cu (0.55% NiEq) from 66.1m (HA20-026)
- incl. 0.5m @ 0.65% Ni, 0.29% Co, 0.15% Cu (1.40% NiEq) from 66.75m
- and 0.75m @ 0.28% Ni, 0.14% Co, 0.32% Cu (0.77% NiEq) from 68.5m
- 8.5m @ 0.24% Ni, 0.06% Co, 0.11% Cu (0.44% NiEq) from 82.6m (HA20-027)
- incl. 0.7m @ 1.41% Ni, 0.33% Co, 0.19% Cu (2.28% NiEq) from 89.7m
- 5.0m @ 0.19% Ni, 0.07% Co, 0.21% Cu (0.46% NiEq)[1] from 62.0m (HA20-022), and
- Geological and mineralisation models are being updated following analysis of diamond core and assay data. Data will be used for prioritising Phase 2 drilling and fast-tracking a mineral resource.
“The final phase 1 drilling results from the nickel-copper-cobalt Hautalampi project further demonstrate the continuity of the mineralised horizon along strike from the historic resource. This is very promising and we are confident there is still significant upside to be realised with additional drilling both along strike and downdip. We look forward to seeing the final analysis from FinnCobalt soon which will then be used for drill planning and resource definition,” said Roberto García Martínez, CEO of Eurobattery Minerals.
The Hautalampi Project
FinnCobalt has informed the Company of the final assay results received from Phase 1 drilling at the project completed in September 2020. The Phase 1 drilling targeted resource extensions to the northeast of the historic NI43-101 mineral resource estimate of 3.15Mt @ 0.43% Ni, 0.35% Cu, 0.12% Co (Fig. 1). A total of 29 drill holes were completed for 3,769m with all drill holes completed within the valid Hautalampi mining concession (Fig. 1). More than 1,700 samples from the drilling have been submitted for geochemical assaying at ALS Geochemistry. All sample preparation and analysis were subject to industry standard QA/QC procedures.
Previous drilling results highlighted the potential for resource expansion with significant Ni-Co-Cu sulphide mineralisation being confirmed from 800m to 1,400m along strike [2],[3]. The latest results further confirm the continuity of the westernmost mineralised horizon (Blue Sky 1) in a southwest direction towards the historic Hautalampi mineral resource. Good thicknesses and grades of mineralisation were intersected in HA20-022, HA20-023, HA20-026 and HA20-027 (Fig. 1). The latest assay highlights are summarised in Table 1. Pyrrhotite, pyrite, pentlandite and chalcopyrite are the dominant sulphide minerals.
| Hole ID | Target | From (m) | To (m) | Int (m) | Ni (%) | Co (%) | Cu (%) | NiEq (%) | |
| HA20-022 | Blue Sky 1 | 59.00 | 70.00 | 11.00 | 0.18 | 0.05 | 0.12 | 0.37 | |
| incl. | 62.00 | 67.00 | 5.00 | 0.19 | 0.07 | 0.21 | 0.46 | ||
| 74.00 | 77.00 | 3.00 | 0.37 | 0.02 | 0.00 | 0.41 | |||
| HA20-0231 | Blue Sky 1 | 83.00 | 84.00 | 1.00 | 0.43 | 0.08 | 0.11 | 0.66 | |
| 110.30 | 115.00 | 4.70 | 0.26 | 0.03 | 0.11 | 0.38 | |||
| incl. | 113.60 | 115.00 | 1.40 | 0.47 | 0.06 | 0.23 | 0.72 | ||
| HA20-0242 | Blue Sky 1 | 88.10 | 99.30 | 11.20 | 0.16 | 0.04 | 0.10 | 0.30 | |
| incl. | 88.10 | 92.00 | 3.90 | 0.19 | 0.06 | 0.20 | 0.42 | ||
| 104.50 | 111.65 | 7.15 | 0.46 | 0.06 | 0.10 | 0.64 | |||
| incl. | 104.50 | 106.80 | 2.30 | 0.69 | 0.10 | 0.22 | 1.04 | ||
| incl. | 105.50 | 106.00 | 0.50 | 1.15 | 0.18 | 0.32 | 1.72 | ||
| and | 107.15 | 109.85 | 2.70 | 0.51 | 0.05 | 0.06 | 0.65 | ||
| and | 110.60 | 111.65 | 1.05 | 0.31 | 0.03 | 0.05 | 0.41 | ||
| HA20-025 | Blue Sky 1 | 39.00 | 48.00 | 9.00 | 0.23 | 0.05 | 0.04 | 0.38 | |
| 53.00 | 56.00 | 3.00 | 0.20 | 0.04 | 0.03 | 0.31 | |||
| 59.00 | 62.00 | 3.00 | 0.20 | 0.05 | 0.09 | 0.36 | |||
| 66.00 | 70.00 | 4.00 | 0.27 | 0.02 | 0.06 | 0.35 | |||
| incl. | 66.00 | 67.00 | 1.00 | 0.43 | 0.03 | 0.10 | 0.55 | ||
| HA20-026 | Blue Sky 1 | 53.50 | 54.00 | 0.50 | 0.42 | 0.03 | 0.16 | 0.57 | |
| 57.50 | 61.00 | 3.50 | 0.22 | 0.05 | 0.05 | 0.36 | |||
| 66.10 | 75.10 | 9.00 | 0.24 | 0.09 | 0.18 | 0.55 | |||
| incl. | 66.75 | 67.25 | 0.50 | 0.65 | 0.29 | 0.15 | 1.40 | ||
| and | 68.50 | 69.25 | 0.75 | 0.28 | 0.14 | 0.32 | 0.77 | ||
| 102.40 | 103.00 | 0.60 | 0.37 | 0.03 | 0.02 | 0.46 | |||
| HA20-0273 | Blue Sky 1 | 82.60 | 91.10 | 8.50 | 0.23 | 0.06 | 0.10 | 0.42 | |
| incl. | 88.00 | 91.10 | 3.10 | 0.44 | 0.11 | 0.13 | 0.76 | ||
| incl. | 89.70 | 90.40 | 0.70 | 1.41 | 0.33 | 0.19 | 2.28 | ||
| HA20-0284 | Blue Sky 1 | 35.36 | 49.00 | 13.64 | 0.21 | 0.05 | 0.05 | 0.33 | |
| 51.00 | 54.00 | 3.00 | 0.25 | 0.05 | 0.07 | 0.39 | |||
| 57.00 | 59.00 | 2.00 | 0.30 | 0.02 | 0.10 | 0.40 | |||
| incl. | 57.00 | 58.00 | 1.00 | 0.38 | 0.03 | 0.14 | 0.50 |
Table 1. Summary of latest assay highlights from the Hautalampi project. The true width of the intercepts is estimated to be mainly 90 – 99 percent and in minimum 75 percent of the intercept length. All core loss is assigned a 0 value.
1 Includes core loss 113.1m-113.6m (0.5m).
2 Includes core loss 90.8-91.0m (0.2m); 94.4-95.6m (1.2m); 97.7-98.6m (0.9m); 106.8-107.15m (0.35m); 109.85-110.6m (0.75m).
3 Includes core loss 89.3-89.7m (0.4m).
4 Includes core loss 42.6-42.7m (0.1m).
Further Steps: FinnCobalt is currently interpreting geological and structural data collected from the Hautalampi core and adapting the geological and ore deposit model previously developed for the Keretti copper mine. All the drilling and assay data will be used for assessment of mineral resources and planning of Phase 2 drilling in 2021. Future drilling will target down-dip extensions to the recent drilling and also infill drill the gap between the historic resource and the 2020 drilling. There is good potential to define an additional 775m of strike extension of the Blue Sky mineralised lodes in this area.
Figure 1. Drill hole collar plan for Hautalampi Project. Drill holes recently completed highlighted by red dots.
Figure 2. Drill core from HA20-027 between 80.8m and 87.6m.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://investors.eurobatteryminerals.com/en/
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 25 of January 2021 at 08:00 CEST.
The technical information in this press release has been reviewed by Dr Hannu Makkonen from Suomen Malmitutkimus Oy. He has 40 years of experience in mineral exploration in Finland, he is a European Geologist (EurGeol) and a Competent/Qualified Person as defined by the JORC Code, 2012 Edition and by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr Makkonen owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply raw material critical to the expanding electric vehicle battery market. Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.
[1] NiEq = nickel equivalent percentage. NiEq grade calculated using (USD prices of) nickel $14,264/t, copper $6,545/t and cobalt $34,200/t. No metallurgical or recovery factors have been assumed at this early stage of the Project. NiEq grade calculation = Ni% + (Co%*34200+Cu%*6545)/14264.
[2] Press release 13/10/20: “High grade cobalt and nickel at Hautalampi project in Finland”.
[3] Press release 30/11/20: “Assays confirm resource expansion at the Hautalampi project, Finland”.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that FinnCobalt Oy has received a decision of 630,000€ (6.4 MSEK) development grant for its Finnish Hautalampi mine and processing plant project from the South Savolax Centre for Economic Development, Transport and the Environment (“ELY-centre”). The European Regional Development Fund (ERDF) program granted the funds. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
“I am very pleased with the positive grant decision. It’s a clear sign that the governmental bodies in the EU are supporting the transition to sustainable mined battery minerals as the foundation of the electrification of the transport industry. For the Hautalampi project, the grant will be an important injection for our aim to transform it from development to a fully-fledged battery mineral mine”, comments Roberto García Martínez, CEO of Eurobattery Minerals.The 630,000€ development funds have been granted for diamond core drilling and related chemical assaying, consultancy work and personnel costs directly related to the development project of Hautalampi mine and battery minerals processing plant. About 300,000€ of the grant will be invested in diamond core drilling and assaying as well as the balance for consultant and personnel salary costs. The project period for granted funds run from the 2nd of June 2020 to the 30th of June 2022. This means that already accrued project costs since the project start-up are eligible for the grant.
For further information, please contact:
Roberto García Martínez, CEO
roberto@eurobatteryminerals.com
https://investors.eurobatteryminerals.com//en/
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 16th of December 2020 at 08:00 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT). As the foundation of the battery value chain the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply raw material critical to the expanding electric vehicle battery market. Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.