Maiden mineral resource from Hautalampi project in Finland estimates 100 % resource upside

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. Map: Eurobattery Minerals AB  

Eurobattery Minerals AB, 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 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.“