Great increase in resources of cobalt-nickel-copper deposit in Hautarampi, Finland

According to the Mining.com website, the ore resources of the Hautarampi (Hautalampi) cobalt-nickel copper project in Finland have increased by 100%, and the amount of metal in the mine license area has increased by 50%.

Hautarampi is located near the town of Otto Kunpu in eastern Finland and is owned by Finnish cobalt (FinnCobalt), a private Finnish company. FinnCobalt has signed an investment agreement with (Eurobattery Minerals AB), a Swedish European battery mining company. As part of the agreement, the latter has agreed to finance the development of the project and will then be entitled to purchase all shares in FinnCobalt.

"We are very satisfied with the resource estimates of the Hautarampi project that meet the JORC standards," Roberto Garc í a, chief executive of European Battery Minerals, said at a media conference. Compared with previous estimates of historical resources in the region, we can see that the total amount of resources has doubled and the amount of metals contained has increased by 50%.

The initial estimate includes the latest estimate of the Hautarampi area and its northeastward extension of the M?kkivaara deposit, which is also the goal of core drilling in 2020. In addition, the estimate is based on a database of 457 boreholes with a total footage of 82000 meters, including 29 boreholes and 3768 meters in 2020.

The proved ore resources are 2.582 million tons, with a nickel grade of 0.38%, a copper grade of 0.28% and a cobalt grade of 0.08%. The presumed ore resource is 2.701 million tons, with a nickel grade of 0.31%, copper of 0.20% and cobalt of 0.08%. According to the amount of metal, the resources of nickel, copper and cobalt are 18289 tons, 12783 tons and 4337 tons respectively.

"We plan to carry out supplementary drilling in the area between the Hautapiran and Mokiwala deposits," Garcia said. "We believe that the amount of drilling resources will increase through this supplementary drilling. In the next step, based on the results of resource estimates, the feasibility of the project will be assessed from the technical and economic aspects.

The company's president pointed out that his company's goal is to help Europe achieve battery mineral self-sufficiency.