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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 additional assay results from summers drilling programme at the Hautalampi Ni-Co-Cu Project (“Hautalampi”; “the Project”), eastern Finland. The Company has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
Key points:
- Additional assay results have been received from the drilling programme completed at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project in eastern Finland.
- Drilling has confirmed significant extensions to the known mineralisation from 800 meter to 1,400 meter along strike to the northeast of the historical resource. Mineralisation still open along strike and down dip.
-
Thick intervals of nickel (Ni), cobalt (Co) and copper (Cu) sulphide mineralisation have been intersected. Assay highlights include:
-
15.1m @ 0.25% Ni, 0.08% Co, 0.25% Cu (0.57% NiEq)[1] from 95m (HA20-015)
- including 2.65m @ 0.36% Ni, 0.16% Co, 0.40% Cu (0.94% NiEq) from 95.4m
- and 4.95m @ 0.25% Ni, 0.08% Co, 0.29% Cu (0.58% NiEq) from 102m
-
4.0m @ 0.42% Ni, 0.06% Co (0.59% NiEq) from 94m (HA20-021)
- including 1.0m @ 0.56% Ni, 0.13% Co, 0.12% Cu (0.93% NiEq) from 94m
- 12.0m @ 0.27% Ni, 0.09% Co, 0.21% Cu (0.57% NiEq) from 117m (HA20-021)
- including 2.0m @ 0.42% Ni, 0.19% Co, 0.54% Cu (1.12% NiEq) from 125m
- 7.0m @ 0.34% Ni, 0.02% Co (0.39% NiEq) from 256m (HA20-021)
-
15.8m @ 0.24% Ni, 0.05% Co (0.39% NiEq) from 52m (HA20-029)
- including 2.25m @ 0.37% Ni, 0.09% Co, 0.18% Cu (0.67% NiEq) from 53.9m
- 6.0m @ 0.26% Ni, 0.06% Co, 0.11% Cu (0.45% NiEq) from 90m (HA20-020)
-
15.1m @ 0.25% Ni, 0.08% Co, 0.25% Cu (0.57% NiEq)[1] from 95m (HA20-015)
- Final assay results are anticipated in the beginning of 2021. Following receipt of the results, a review of the data will be completed with the view of establishing a mineral resource and plan for Phase 2 drilling in 2021.
“In combination with the previously announced results, and the fact that the drilling campaign only covered a small area of the Hautalampi project, the analysis gives us even more confident that the mineralisation along strike from the historic resource contains high metal grades. Based on visual observations, we anticipate that the remaining assays will define a prospective zone that is at least 600 meter in length which is still open along strike and down-dip, this is very encouraging, said Roberto García Martínez, CEO of Eurobattery Minerals.
FinnCobalt has informed the Company of assays received from Phase 1 drilling at the project from July to 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 was subject to industry standard QA/QC procedures.
Drilling has further confirmed the occurrence of Ni-Co-Cu sulphide-bearing lodes along strike of the historic resource. The westernmost lode (Blue Sky 1) is particularly exciting with assays now confirming significant mineralisation between 800 – 1,400m along strike from the historic resource. The latest results are particularly pleasing as extensional drilling to previous announced results confirm that the mineralisation is continuous along strike[2]. Pyrrhotite, pentlandite and chalcopyrite are the dominant sulphide minerals which is important as these minerals are recoverable using conventional mineral processing technologies (Fig. 2). The latest assay highlights are summarised in Table 1.
FinnCobalt is currently interpreting geological and structural data collected on the core and optimising the geological and ore deposit model developed for the adjacent Keretti copper mine. All the ore intersections encountered occupy a position in the hangingwall of the Keretti deposit and were not the target of most of the historical drilling or any mining. The current model interprets the mineralisation as a tightly folded antiform which is inclined to the northwest. Importantly, the lower limb of the mineralisation is thickening and increasing with grade at depth with mineralisation still open down-dip (Fig. 3).
The latest assay results have further proven the potential for economic grades of Ni-Co-Cu mineralisation along strike from the historical mineral resource. Remaining assay results from the 2020 drilling programme will be announced early 2021.
|
Hole ID | Target | From (m) | To (m) | Int (m) | Ni (%) | Co (%) | Cu (%) | NiEq (%) | |
| HA20-015 | Blue Sky 1 | 92.75 | 93.55 | 0.80 | 0.30 | 0.11 | 0.16 | 0.63 | |
| 95.00 | 110.10* | 15.10 | 0.25 | 0.08 | 0.25 | 0.57 | |||
| incl. | 95.40 | 98.05 | 2.65 | 0.36 | 0.16 | 0.40 | 0.94 | ||
| and | 102.00 | 106.95 | 4.95 | 0.25 | 0.08 | 0.29 | 0.58 | ||
| HA20-021 | Blue Sky 1 | 94.00 | 98.00 | 4.00 | 0.42 | 0.06 | 0.04 | 0.59 | |
| incl. | 94.00 | 95.00 | 1.00 | 0.56 | 0.13 | 0.12 | 0.93 | ||
| 117.00 | 129.00 | 12.00 | 0.27 | 0.09 | 0.21 | 0.57 | |||
| incl. | 121.00 | 123.00 | 2.00 | 0.27 | 0.11 | 0.26 | 0.65 | ||
| and | 125.00 | 127.00 | 2.00 | 0.42 | 0.19 | 0.54 | 1.12 | ||
| 132.00 | 133.00 | 1.00 | 0.25 | 0.03 | 0.23 | 0.43 | |||
| 256.00 | 263.00 | 7.00 | 0.34 | 0.02 | 0.00 | 0.39 | |||
| HA20-029 | Blue Sky 1 | 52.00 | 67.80 | 15.80 | 0.24 | 0.05 | 0.05 | 0.39 | |
| incl. | 52.00 | 60.00 | 8.00 | 0.28 | 0.06 | 0.08 | 0.47 | ||
| incl. | 53.90 | 56.15 | 2.25 | 0.37 | 0.09 | 0.18 | 0.67 | ||
| and | 62.00 | 67.80 | 5.80 | 0.20 | 0.04 | 0.04 | 0.32 | ||
| HA20-020 | Blue Sky 1 | 61.40 | 65.00 | 3.60 | 0.38 | 0.05 | 0.07 | 0.54 | |
| 90.00 | 96.00 | 6.00 | 0.26 | 0.06 | 0.11 | 0.45 | |||
| incl. | 94.00 | 95.00 | 1.00 | 0.37 | 0.11 | 0.16 | 0.69 | ||
| HA20-014 | Blue Sky 1 | 36.20 | 37.30 | 1.10 | 0.28 | 0.03 | 0.33 | 0.51 | |
| 66.00 | 70.80 | 4.80 | 0.27 | 0.03 | 0.01 | 0.34 | |||
| incl. | 69.00 | 70.00 | 1.00 | 0.32 | 0.03 | 0.01 | 0.39 | ||
| 75.00 | 78.00 | 3.00 | 0.26 | 0.04 | 0.06 | 0.38 | |||
| incl. | 77.00 | 78.00 | 1.00 | 0.24 | 0.07 | 0.07 | 0.43 | ||
| HA20-019 | Blue Sky 1 | 29.00 | 30.00 | 1.00 | 0.35 | 0.02 | 0.01 | 0.41 | |
| 142.70 | 143.70 | 1.00 | 0.35 | 0.04 | 0.16 | 0.51 | |||
| HA20-009 | Blue Sky 2 & 3 | 40.10 | 41.10 | 1.00 | 0.45 | 0.01 | 0.02 | 0.49 | |
| HA20-010 | Blue Sky 2 & 3 | 37.70 | 40.00 | 2.30 | 0.34 | 0.02 | 0.02 | 0.41 |
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
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 30th of November 2020 at 08:00 CEST.
Eurobattery Minerals in brief
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, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ 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] See press release 13th October 2020 “High grade cobalt and nickel at Hautalampi project in Finland”.
Due to increased turnover in the share, Eurobattery Minerals AB (publ) terminates its agreement with Mangold Fondkommission AB as a liquidity provider for Eurobattery Minerals’s share on NGM Nordic SME (BAT). The last day for trading in the liquidity guarantee is 25 November 2020.
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
Eurobattery Minerals in brief
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, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor
- Collaboration between Eurobattery Minerals and the AHG University of Science and Technology in Krakow advances to next stage
- The project goal is to identify the main mineral carriers of vanadium in the black shales at Fetsjön
- The ultimate objective is to form a base to develop an optimal technology for the extraction of the metal from vanadium-rich minerals
- Vanadium is a crucial element in batteries for the electric revolution.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, and the AHG University of Science and Technology in Krakow in Poland, today announced an extension of its existing project collaboration.
The goal of the project is to identify the main mineral carriers of the battery mineral vanadium and methods to extract the metal efficiently. In this research project, scientists will use black shale rock material from Eurobattery Minerals exploration project Fetsjön in northern Sweden. Previous results from 52 exploration boreholes and chemical analyses confirm that the black shales at Fetsjön include large quantities of vanadium.
“Vanadium plays a key role in the electrification of the society as it’s included in high capacity chargeable batteries. As a provider of critical raw material, supporting groundbreaking research projects on efficient extraction of these minerals is one important part of our business”, said Roberto García Martínez, CEO of Eurobattery Minerals.
Dr Maciej Manecki at the Department of Mineralogy, Petrography and Geochemistry at AGH University of Science and Technology conducting this scientific project, hypothesize that vanadium in this kind of rock is bound to oxide and mica minerals. This hypothesis is supported by previous research at Fetsjön and other parts of the world with similar rock formations.
To identify the vanadium-bearing minerals, the scientists will thermally remove the carbonaceous substance of the shales and then use a sequence of procedures for the separation of mica and heavy minerals to obtain and identify the vanadium-enriched fractions.
“The preliminary work carried out on the core samples a year ago strengthened my confidence that there is a raw material potential in Fetsjön shales and I am happy to continue the project with support from Eurobattery Minerals”, said Dr Maciej Manecki. “If vanadium-enriched fractions are obtained and identified in the way we believe is possible, works can be undertaken in the future to develop an optimal technology for the extraction of vanadium”.
For further information, please contact:
Roberto García Martínez, CEO
roberto@eurobatteryminerals.com
https://eurobatteryminerals.com//en/
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.
- Project on new and modern industrialised methods to extract Rare Earth Elements (REE)
- REE rich black shales from Eurobattery Minerals exploration project in Fetsjön will be part of the project
- Eurobattery Minerals will support with funding as part of the Vinnova application submitted by the Uppsala University with final approval at the beginning of spring 2021.
Eurobattery Minerals AB (Nordic Growth Market: “BAT”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, announced an extension of its ongoing collaboration with Uppsala University. The company supports the university in its application to the Swedish innovation agency Vinnova in a project that focuses on new and modern methods of extracting REE from the shales in Fetsjön and other apatite rich discoveries in Sweden. As part of this project, Eurobattery Minerals will provide both mineralised samples from Fetsjön as well as financial funding. Vinnova is expected to announce their decision in the beginning of spring 2021.
The scientist from the Department of Earth Sciences at Uppsala University has figured out an efficient way of extracting REE from phosphates typically located in black shales, such as in Fetsjön. The next step is now to create a small experimental plant and run the University led REE beneficiation experiments on a bigger scale.
“We are thrilled to continue to support the scientists at Uppsala University. In Fetsjön, we know from previous comprehensive drilling and analyses that the REE level in the black shales is high. As critical components to the electric revolution, we are interested in finding efficient and sustainable methods to obtain those minerals from our projects”, said Roberto García Martínez, CEO of Eurobattery Minerals.
The project that is headed by Dr Jaroslaw Majka, Associate Professor in Metamorphic Petrology at the Department of Earth Sciences at Uppsala University, is pleased with the continued support from Eurobattery Minerals.
“We are excited about the possibility to conduct larger-scale testing of this new industrialised method for extracting rare earth elements. We believe that it will enable more efficient and sustainable extraction of these key components in electric vehicles and other battery-run equipment”, said Dr Jaroslaw Majka.
For further information, please contact:
Roberto García Martínez, CEO
roberto@eurobatteryminerals.com
https://eurobatteryminerals.com//en/
This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 19 November 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.
Third quarter 2020 (same period previous year)
- Net sales amounted to SEK 0 thousand (SEK 0 thousand).
- Operating income after depreciation/amortisation and financial items totalled SEK –3,510 thousand (SEK –2,421 thousand).
- Earnings per share after depreciation/amortisation and financial items amounted to SEK –0.25 (SEK –0.24).
- Cash flow from operating activities was SEK –4,777 thousand (SEK –3,620 thousand).
First nine months of 2020 (same period previous year)
- Net sales amounted to SEK 0 thousand (SEK 0 thousand).
- Operating income after depreciation/amortisation and financial items totalled SEK –8,692 thousand (SEK –9,261 thousand).
- Earnings per share after depreciation/amortisation and financial items amounted to SEK –0.74 (SEK –0.96).
- Cash flow from operating activities was SEK –8,423 thousand (SEK –9,284 thousand).
Significant events during the period
- Drilling commenced at the Hautalampi Nickel-Cobalt-Copper (Ni-Co-Cu) Project, Outokumpu, eastern Finland. Initial drilling programme aimed at expanding the historic mineral resource estimate of 3.2 Mt @ 0.43% Ni, 0.35% Cu and 0.12% Co.[1]
- The Company completed a rights issue, which was subscribed to 209 percent and raised SEK 47.3 million before issue costs. The number of shares increased by 3,938,142 to 13,783,499. The subscription price in the rights issue was SEK 24.00 per unit, where one unit consists of two shares and one warrant.[2]
- The process for advancing the Environmental Impact Assessment procedure for combined mining and processing at Hautalampi commenced. It is anticipated that the EIA procedure will be completed within twelve months. This will be immediately followed by the Environmental Permit Application.[3]
- Mineral tests conducted by SGS Canada at the Corcel Project in Spain confirm the economical grade nickel sulphide findings and further confirm the broader prospectively of the Castriz project area.[4]
- The European Raw Materials Alliance (ERMA), of which the Company is a member, officially launched on 29 September 2020. The purpose of ERMA is to secure access to strategic metals and minerals, advanced materials, as well as industrial processing know-how, focusing on sustainability.[5]
Significant events after the period
- The price of the warrants issued as part of the July rights issue was set at SEK 12.00.[6] The exercise period for the warrants expired in October with a 96-percent subscription rate. This means that the Company will receive proceeds of approximately SEK 22.7 million before issue costs. The number of shares in the Company will amount to 15,679,318 and the share capital will amount to SEK 15,679,318.[7]
- The Company has joined the Initiative for Responsible Mining Assurance (IRMA). The membership is one of several important steps in the Company’s efforts to provide ethical and traceable battery minerals.[8]
- Eurobattery Minerals announced the completion of phase 1 drilling at the Hautalampi Project in central Finland. A total of 29 drill holes have been completed for a total of 3,769 metres confirming high grade cobalt and nickel.[9]
- FinnCobalt Oyj (formerly Vulcan Hautalampi Oy) has informed the Company about its expansion in eastern Finland. FinnCobalt Oyj has been granted a new reservation permit for exploration over the highly prospective Hietajärvi Project, which covers over 289 km2 of ground highly prospective for cobalt, copper, nickel and zinc deposits.[10]
Summary of CEO comments:
“During the third quarter, we have developed our operations further across our projects in Finland, Spain and Sweden, and overall as a company via a successful rights issue subscribed to 209 percent. In combination with the warrant trade finalised in late October, we have raised an additional SEK 70 million for the Company, enabling us to advance our operations.
We have also joined the EU funded European Raw Material Alliance (ERMA) with the purpose to secure access to strategic metals and minerals, advanced materials, as well as industrial processing know-how, focusing on sustainability. In our efforts to provide ethical and traceable battery minerals, we also joined the initiative for responsible mining assurance (IRMA). Sustainable mining is at the core of our business strategy, so we look forward to collaborating with IRMA in the future”
Eurobattery Minerals AB Interim Report January – September 2020 is attached to this press release and is available to download from the Company’s website:
https://eurobatteryminerals.com//en/economic-reports/
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
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 18th of November 2020 at 08:00 CEST.
Eurobattery Minerals in brief
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, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor
[1] Drilling to commence at the Hautalampi project, Finland, press release 09/07/2020.
[2] Eurobattery Minerals’ rights issue subscribed to 209 per cent, the company will receive sek 47.3 million, press release 17/07/2020.
[3] Hautalampi project Environmental Impact Assessment procedure commenced, press release 17/08/2020.
[4] Mineral tests confirm economical grade nickel sulphide at Corcel, press release 21/09/2020.
[5] Eurobattery Minerals is part of the European Raw Materials Alliance launched today, press release 29/09/2020.
[6] The subscription price for the warrants of series 2020:1 has been set to SEK 12.00 and the exercise period begins on Monday 5 October 2020, press release 02/10/2020.
[7] Eurobattery Minerals receives approximately SEK 22.7 million through warrant redemption, press release 21/10/2020.
[8] Eurobattery Minerals becomes member of global responsible mining initiative, press release 07/10/2020.
[9] High grade cobalt and nickel at Hautalampi project in Finland, press release 13/10/2020.
[10] New granted reservation permit for exploration in Finland, press release 14/10/2020.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.
During June-July 2020, Eurobattery Minerals AB (publ) (NGM Nordic SME: “BAT”; “the Company”) carried out a rights issue of units, consisting of shares and warrants of series 2020:1 (the “Warrants”). Those who subscribed for one (1) unit in the rights issue during the period June 29 to July 14 received one (1) Warrant per subscribed unit. Each Warrant gave the right to subscribe for one (1) new share in Eurobattery Minerals AB. The exercise period for the Warrants ended on October 16 and a total of 1,895,819 Warrants were exercised, corresponding to a subscription rate of approximately 96 per cent. The Company will thereby receive proceeds of approximately SEK 22.7 million before issue costs. The issue proceeds will be used for further feasibility studies for the Corcel and Hautalampi projects, but also to explore the possibilities for new interesting acquisitions of assets in Europe.
Number of shares and share capital
The Company will receive proceeds of approximately SEK 22.7 million before issue costs of approximately SEK 1.2 million. After the new shares have been registered with the Swedish Companies Registration Office, the number of shares in the Company will amount to 15,679,318 and the share capital will amount to SEK 15,679,318.
“We are very happy for the great interest our investors have shown us and for the additional investment we are now being provided. We are committed to be the foundation of the battery value chain in Europe and with this capital injection we are able to accelerate our business strategy and shortening the time for us to become a producer of ethical and fully traceable battery minerals for the electric vehicle industry”, says Roberto García Martínez, CEO of Eurobattery Minerals.
Advisers
Augment Partners AB is acting as financial advisor and Bird & Bird Advokat KB is acting as the legal adviser to the Company in connection with the transaction.
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 21 October 2020 at 08:00 CEST.
Eurobattery Minerals in brief
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has two mining licences and eight exploration licences. The headquarters are located in Stockholm.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.
Important information
Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.
This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.
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 Oyj (formerly Vulcan Hautalampi Oy) has informed the Company about its expansion in eastern Finland with a new granted reservation permit for exploration over the highly prospective Hietajärvi Project (“the Project”). The Project covers over 289km2 of ground highly prospective for cobalt, copper, nickel and zinc deposits. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oyj in a staged acquisition.
Key points:
- FinnCobalt expands its footprint in eastern Finland being granted a reservation permit for exploration over the highly prospective Hietajärvi Project.
- Located ~30km south of FinnCobalt Hautalampi Project, Hietajärvi contains similar prospective rocks known to contain Co-Cu-Ni-Zn deposits.
- Historical mineral resources defined at the project total 0.74Mt @ 0.11% Co, 0.56% Cu, 0.6% Zn and 0.18% Ni (1.74% CuEq%).
“With the electric revolution, the need for batteries and battery minerals is growing fast. To meet the demands, Europe needs to open more mines for battery minerals. With this in mind, exploring new mineral projects is a fundamental part of our business. Therefore, it is encouraging to see that FinnCobalt is further expanding its footprint in Finland”, said Roberto García Martínez, CEO of Eurobattery Minerals.
The Hietajärvi cobalt, copper, nickel and zinc deposit is ideally located to infrastructure and FinnCobalt’s current base of operations being approximately 30 km south of the Hautalampi Project (Fig. 1). Importantly, the prospective Outokumpu rock formations occur in the reservation permit area. The same formation hosts the Hautalampi Ni-Co-Cu deposit and other major mineral prospects and deposits. A reservation gives priority right to FinnCobalt to apply for an exploration permit over the area.
The Hietajärvi reservation contains two exciting prospects that the Company will initially focus on:
- Hietajärvi – contains a defined Co-Cu-Zn-Ni deposit. The mineralisation is documented to be an Outokumpu-type mixed hydrothermal system with massive and disseminated sulphides. Outokumpu Oyj investigated the region between 1955 and 1994 completing multiple exploration campaigns and pilot plant tests. Outokumpu Oyj ultimately defined a mineralised body consisting of two, nearly E-W trending sulphide lodes dipping 40-50°S. The lodes are 200 meters (E-lens) and 100 meters (W-lens) in length have thicknesses varying between 3 meters and 20 meters. A non-compliant historical resource estimate of 0.341Mt @ 0.15% Co, 0.7% Cu, 1.2% Zn and 0.18% Ni (2.33% CuEq) containing 511.5t Co, 4126t Zn, 2421t Cu and 614t Ni has been defined at Hietajärvi. The prospect has seen little advanced exploration work completed at the prospect subsequent to Outokumpu Oyj.
- Kettukumpu – also contains a defined Cu-Co-Ni-Zn deposit documented to be a Outokumpu-type mixed hydrothermal system. The prospect was explored by Malmikaivos Oy from 1975 – 1983, completing multiple exploration campaigns. In 2006, GTK in its work on the deposit published a non-compliant mineral resource estimate of 0.4Mt @ 0.44% Cu, 0.18% Ni and 0.07% Co (1.24% CuEq). Like Hietajärvi, the prospect has seen no recent exploration activity.
FinnCobalt has indicated work on the Hietajärvi project will initially be essentially restricted to desktop studies as this is a condition of the reservation permit. A plan on the preparation of the exploration permit application will be presented following a full project review.
Figure 1. Hietajärvi reservation permit area (green area) in relation to Hautalampi Project (red).
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://eurobatteryminerals.com//en/
This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on October 14, 2020 at 08:00 CEST.
About Eurobattery Minerals
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has two mining licences and eight exploration licences. The headquarters are located in Stockholm.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, 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 Oyj (formerly Vulcan Hautalampi Oy) has informed the Company the completion of Phase 1 drilling at the Hautalampi Ni-Co-Cu Project (“Hautalampi”; “the Project”), eastern Finland. The drilling campaign has confirmed resource expansion potential between 800 meters and 1,400 meters along strike from historical mineral resource estimate with consistent Ni-Co-Cu mineralisation being intersected. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oyj in a staged acquisition.
Key points:
- Phase 1 drilling completed at Hautalampi Project in central Finland. In total 29 drill holes completed for a total of 3,769 meters. More than 1,000 samples submitted for geochemical assaying at ALS Geochemistry in Outokumpu with final assay results anticipated in 6-8 weeks.
- Drilling targeted resource expansion in the prospective Blue Sky zone located along trend from historical mineral resource.
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Drilling has confirmed resource expansion potential between 800 meters and 1,400 meters along strike from historical mineral resource estimate with consistent Ni-Co-Cu mineralisation being intersected. Assay highlights include:
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2.0m @ 0.45% Co, 0.63% Ni, 0.29% Cu (1.85% NiEq)[1] from 51m (HA20-018)
- including 0.5m @ 1.59% Co, 1.40% Ni and 0.26% Cu (5.32% NiEq) from 52.5m
- 4.5m @ 0.31% Ni, 0.01% Co (0.35% NiEq) from 75.5m (HA20-017), and
- 4.0m @ 0.26% Ni, 0.02% Co (0.33% NiEq) from 138m (HA20-017)
- 1.0m @ 0.37% Ni, 0.19% Co and 0.29% Cu (0.96% NiEq) from 59m (HA20-016), and
- 6.3m @ 0.25% Ni, 0.05% Co, 0.1% Cu (0.41% NiEq) from 71m (HA20-016)
- 2.4m @ 0.47% Ni and 0.03% Co (0.55% NiEq) from 74m (HA20-005)
- 4.75m @ 0.30% Ni and 0.03% Co (0.33% NiEq) from 84.25m (HA20-001)
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2.0m @ 0.45% Co, 0.63% Ni, 0.29% Cu (1.85% NiEq)[1] from 51m (HA20-018)
“We are incredibly impressed with the progress of the Project so far with drilling being completed well ahead of schedule and are encouraged with what FinnCobalt has observed in the drilling and the initial assay results confirm our expectations. The high-grade intersection of 1.59% cobalt and 1.40% nickel is particularly pleasing and confirms the potential of the Project. We look forward to receiving the remaining assay results in the coming weeks”, said Roberto García Martínez, CEO of Eurobattery Minerals.
FinnCobalt has informed the Company that Phase 1 drilling has been completed at Hautalampi Project. All drill holes were completed within the valid Hautalampi mining concession. The Phase 1 drilling programme is the first completed since the Company announced the option to acquire the Project in May 2020[1]. Drilling targeted resource extensions along strike from 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 (Fig. 1).
More than 1,000 samples have so far been submitted for geochemical assaying at ALS Geochemistry in Outokumpu. Drilling has confirmed the presence of Ni-Co-Cu sulphides and resource expansion potential between 800m and 1,400m along strike from the previously defined historical mineral resource. A consistent zone of mineralisation containing Ni-Co-Cu sulphides have being intersected including high-grade Co-Ni mineralisation (Fig. 2).
Assay highlights include:
| Hole_ID | From (m) | To (m) | Int. (m) | Ni (%) | Co (%) | Cu (%) | NiEq (%) | |
| HA20-018 | 51.00 | 53.00 | 2.00 | 0.63 | 0.45 | 0.29 | 1.85 | |
| incl. | 52.20 | 52.70 | 0.50 | 1.40 | 1.59 | 0.26 | 5.32 | |
| 89.40 | 91.00 | 1.60 | 0.28 | 0.08 | 0.17 | 0.55 | ||
| HA20-017 | 62.50 | 64.00 | 1.50 | 0.36 | 0.02 | 0.00 | 0.40 | |
| 75.50 | 80.00 | 4.50 | 0.31 | 0.01 | 0.01 | 0.35 | ||
| incl. | 75.50 | 77.00 | 1.50 | 0.39 | 0.02 | 0.01 | 0.44 | |
| 91.00 | 92.00 | 1.00 | 0.30 | 0.03 | 0.03 | 0.39 | ||
| 138.00 | 142.00 | 4.00 | 0.26 | 0.02 | 0.02 | 0.33 | ||
| incl. | 138.00 | 139.00 | 1.00 | 0.37 | 0.05 | 0.08 | 0.52 | |
| 149.00 | 150.00 | 1.00 | 0.25 | 0.02 | 0.25 | 0.41 | ||
| HA20-016 | 59.00 | 60.00 | 1.00 | 0.37 | 0.19 | 0.29 | 0.96 | |
| 71.00 | 77.30 | 6.30 | 0.25 | 0.05 | 0.10 | 0.41 | ||
| incl. | 75.00 | 76.00 | 1.00 | 0.29 | 0.05 | 0.09 | 0.44 | |
| HA20-005 | 74.00 | 76.40 | 2.40 | 0.47 | 0.03 | 0.01 | 0.55 | |
| incl. | 75.70 | 76.40 | 0.70 | 0.88 | 0.08 | 0.04 | 1.08 | |
| HA20-001 | 84.25 | 89.00 | 4.75 | 0.30 | 0.01 | 0.00 | 0.33 | |
| incl. | 88.00 | 89.00 | 1.00 | 0.65 | 0.03 | 0.00 | 0.73 |
Eurobattery Minerals is highly encouraged by the initial assay results which confirm the potential for economic grades of Ni-Co-Cu mineralisation being found outside the historic mineral resource area. The high-grade cobalt and nickel intersection is of particular interest for the addition of high-value resources.FinnCobalt have informed the Company that following geological logging and core processing, all remaining assays will be received over the next 6-8 weeks. Following receipt of the final assays, FinnCobalt and the Company will assess all drilling results and plan the next stage of resource expansion drilling and prefeasibility study.
Figure 1. Drill hole collar plan for Hautalampi Project. Drill holes recently completed highlighted by red dots.
Figure 2. Drill hole HA20-018 showing massive sulphide zone from 51.4-52.4m. Interval assayed 2m @ 0.45% Co, 0.63% Ni, 0.29% Cu (1.85% NiEq) from 51m, including 0.5m @ 1.59% Co, 1.4% Ni, 0.26% Cu (5.32% NiEq) from 52.2m.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://eurobatteryminerals.com//en/
This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 13 October 2020 at 08:00 CEST.
About Eurobattery Minerals
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has two mining licences and eight exploration licences. The headquarters are located in Stockholm.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.
[1] See press release 11th May 2020 “Eurobattery Minerals signs investment agreement with option to acquire the Hautalampi nickel-cobalt-copper mine.
- Eurobattery Minerals becomes a member alongside global industry leaders in Initiative for Responsible Mining Assurance
- The membership is one of several important steps in the company’s effort to provide ethical and traceable battery minerals for the fast growing electric vehicle industry
Eurobattery Minerals AB (Nordic Growth Market: “BAT”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has joined the Initiative for Responsible Mining Assurance (IRMA). As a member, Eurobattery Minerals will participate in and support credible independent third-party verification and certification against a comprehensive best-practice standard that addresses the range of environmental and social issues related to industrial-scale mines.
“At Eurobattery Minerals we are determined to not only provide the electric vehicle industry with critical battery minerals, we are also committed to do it in an ethical way and with full focus on traceability. Therefore, joining IRMA is an important milestone. The membership will both provide us with learnings from other industry leaders as well as give us the opportunity to share our knowledge and experiences to promote a more responsible mining industry,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Eurobattery Minerals joins the multi-stakeholder membership in IRMA that includes private sector companies alongside labor unions, civil society organisations and mining affected communities. Other well-known members include leading global mining company Arcelor Mittal, automaker BMW Group, tech company Microsoft as well as Human Rights Watch.
”We are looking forward to working with Eurobattery Minerals in the coming years. The membership is the first step for companies to become involved in IRMA’s assurance programs and to support the IRMA vision of a world where the mining industry respects the human rights and aspirations of affected communities, provides safe, healthy and supportive workplaces, minimizes harm to the environment, and leaves positive legacies.” said Aimee Boulanger, Executive Director at IRMA.
About IRMA
The Initiative for Responsible Mining Assurance (IRMA) is the answer to a global demand for more socially and environmentally responsible mining. IRMA offers true independent third-party verification and certification against a comprehensive standard for all mined materials that provides ‘one-stop coverage’ of the full range of issues related to the impacts of industrial-scale mines. For more information, please visit https://responsiblemining.net.
For further information, please contact:
Roberto García Martínez, CEO
roberto@eurobatteryminerals.com
https://eurobatteryminerals.com//en/
This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 07 October 2020 at 08:00 CEST.
About Eurobattery Minerals
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.
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During June-July 2020, Eurobattery Minerals AB (publ) (NGM Nordic SME: “BAT”; “the Company”) carried out a rights issue of units, consisting of shares and warrants of series 2020:1. The exercise period for these warrants begins today and continues until 16 October, 2020. Due to the exercise period of the warrants, the Company invites to digital investor meetings.
Investor meetings
The digital investor meetings with the Company’s CEO are held on the following occasions (note that the investor meetings are held in English):
- Thursday, 08 October, 2020 at 17.30 CEST
- Monday, 12 October, 2020 at 17.30 CEST
Registration for the investor meetings above is sent to info@augment.se.
For further information, please contact:
Roberto García Martínez, CEO
Email: roberto@eurobatteryminerals.com
Eurobattery Minerals in brief
Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm.
Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor.
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