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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 a positive first result from its collaboration with the AGH University of Science and Technology in Krakow. The joint research project has two goals; to identify the main mineral carriers of the battery mineral vanadium and to develop optimal sustainable methods for extracting the metal from vanadium-rich minerals. Vanadium is a critical raw material in batteries and a key component for the electric vehicle (EV) industry.
Key points:
- Positive first results from AGH University of Science and Technology in Krakow on developing an optimal technology of extracting vanadium and rare earth elements (REE) from minerals in black shales
- The technology used in the experiment allows cost-effective and sustainable enrichment of vanadium and REE at relatively low temperatures and no use of chemicals
- The research further concludes that the previously confirmed large quantities of vanadium in the Fetsjön black shales is partly tied to the mineral rutile and partly to clays and mica fraction
- Next step is further tests on separation and extraction of vanadium and REE
- The research project is part of the ongoing collaboration between the universities in Krakow and Uppsala and Eurobattery Minerals.
Via experimental studies on vanadium-rich black shales from Eurobattery Minerals Fetsjön-project, the scientists have concluded that part of the vanadium is tied to the mineral rutile (TiO2) and part to clays and mica minerals. The scientists have managed to thermally concentrate vanadium-enriched fractions to identify the vanadium-bearing minerals and additional rare earth elements (REE) in the black shales. The separation has been successful already at relatively low temperatures meaning that less power is needed. Furthermore, the process allows for separation without using chemicals. Producing a low-cost metal-enriched concentrate may be a new method in extracting vanadium.
“We are thrilled about these early results suggesting that the vanadium in our Fetsjön project, and elsewhere, can be obtained more sustainably and cost-effectively than what we have known to date”, said Roberto García Martínez, CEO of Eurobattery Minerals.
Dr Maciej Manecki runs the research project at the Department of Mineralogy, Petrography and Geochemistry at AGH University of Science and Technology in Krakow, Poland, and he is optimistic about the results:
“The research supports my hypothesis, as well as previous research at Fetsjön and other parts of the world with similar rock formations – vanadium in black shales is bound to oxide and/or mica minerals and it’s possible to thermally concentrate the metal at relatively low temperatures and without the use of chemicals. I am looking forward to seeing the outcome from further tests on the separation and extraction of vanadium and REE”, Dr Maciej Manecki concludes.
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) 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.
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://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 of helping Europe become self-sufficient in ethical battery minerals, today announces its expansion to the Börse Stuttgart, under the ticker EBM, via an extension of its listing on Nordic Growth Market (NGM) in Sweden. As of today, the Eurobattery Minerals stock can be traded in both Sweden and Germany. Furthermore, the Company will open an office in Berlin during the first quarter of 2021. Being presence in the most important automotive market in Europe, enabling easy access for the significant German investor community to invest in Eurobattery Minerals, is a key driver behind the expansion. The Company will remain a Swedish public limited company (AB) with head office in Stockholm.
Key points:
- Eurobattery Minerals is available for trading on the Börse Stuttgart as of today, 15 January 2021, under the ticker EBM. The Company will retain its listing on the Swedish stock exchange.
- The Company also announced the opening of an office in Berlin, Germany, during the first quarter 2021.
- Being present in the most important automotive market in Europe – and the hub for the electric vehicle industry in the region – further enhances Eurobattery Minerals’ business strategy as the sustainable foundation of the electric vehicle revolution.
- The Company has several exploration and mining projects at various stages of implementation across Europe, all focusing on mining ethical and fully traceable battery minerals, primarily Nickel (Ni), Copper (Cu), Cobalt (Co), Vanadium (V) and Rare Earth Elements (REE). Via its projects, the Company is helping Europe to increase its self-sufficiency in these critical raw materials.
- Eurobattery Minerals is one of the first companies to participate in the NGM Reach program, which enables companies listed on NGM to also become available for trading on Börse Stuttgart in Germany, thereby gaining access to the most significant investor community in the EU.
“Our business strategy is clear: Eurobattery Minerals shall be the foundation of the battery value chain. Accordingly, the news today is significant for two reasons. Firstly, we will establish a presence in the very heart of the European and global centre for the automotive industry. Secondly, the dual listing grants the Company access to the largest investor community in the EU, a community where sustainable investments are top of the agenda,” comments Roberto García Martínez, CEO of Eurobattery Minerals.
The dual listing on Börse Stuttgart, where Eurobattery Minerals will be traded under the ticker EBM, will enable for investors across the EU and elsewhere to more easily trade in the stock. Private investors and large institutional investors will now have the opportunity to invest in a European and sustainable battery minerals company.
“Recently, the European Commission pointed to the fact that for the electric revolution to succeed, Europe and its large auto industry need to become self-sufficient in these critical raw materials, and they need to be mined sustainably. I am therefore optimistic that the news today will help the EU and the substantial German auto industry to move in this direction,” Roberto García Martínez comments.
Ongoing battery minerals projects
Eurobattery Minerals is focused on several battery minerals projects in the exploration and development phases in Europe to supply the raw materials critical to the expanding electric vehicle battery market. Projects include the Hautalampi project in Finland, the Corcel project in Spain and the Fetsjön project in Sweden, along with seven other exploration projects in northern Sweden.
Collaboration for sustainability
Eurobattery Minerals believes in joining forces with industry bodies to form partnerships that will promote a reinvigoration of the European mining industry, but also to support a responsible and sustainable mining industry across Europe. In 2020, the Company joined the Initiative for Responsible Mining Assurance (IRMA), the response to global demand for more socially and environmentally responsible mining. Furthermore, Eurobattery Minerals is one of the founding members of the European Raw Materials Alliance (ERMA). The organisation aims to make Europe economically more resilient by diversifying its supply chains, creating jobs, attracting investments to the raw materials value chain, fostering innovation and training young talents.
The launch of NGM Reach will be live streamed today at 8.40 CET via this link: https://www.ngm.se/en/ngm-reach
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) 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 critical raw materials 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.
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://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.
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 submitted Hautalampi projects EIA-Programme to the North Karelia Centre for Economic Development, Transport and the Environment (“ELY-centre“). FinnCobalt Oy expects to submit the final EIA-report before May 2021.The Company has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
“I am happy with the progress in the Hautalampi project and that we have now submitted the important environmental impact assessment programme. With our strong focus on ethics and traceability the EIA is a first important step in providing the EV industry with sustainably mined battery minerals,” said Roberto García Martínez, CEO of Eurobattery Minerals.
About the EIA-programme
The EIA-programme is a plan defining the impacts to be assessed during the EIA-procedure and the methods of the assessment. The programme includes basic information on FinnCobalt Oy’s planned mining and processing operations and the options under assessment, a plan of communications during the EIA procedure as well as an assessment on the schedule of the project and the EIA procedure.
According to the Act on Environmental Impact Assessment, the EIA procedure will examine the environmental effects resulting from Hautalampi projects mining operations and processing operations. These effects concern:
- people’s health, living conditions and well-being in the area
- surface and ground waters, soil, air, climate, vegetation, organisms and diversity of nature
- community structure, buildings, landscape and cultural heritage as well as
- the relationships between these factors.
Three options under evaluation
Three options will be evaluated in the EIA-procedure:
Option 0: No project development at all.
Option 1: Underground mine with adjoining flotation plant to produce copper- and nickel-cobalt concentrate will be developed. Concentrates will be sold and trucked off-site for further processing.
Option 2: Underground mine with adjoining flotation plant to produce copper- and nickel-cobalt concentrate will be developed. Copper concentrate will be sold and trucked off-site; nickel-cobalt concentrate will be processed on-site to produce chemicals for further battery production.
The EIA procedure advances from the programme to a report
The most essential steps in the EIA procedure include: an assessment of the current state of the environment; definitions of various project alternatives, assessments of their environmental impacts, and a comprehensive picture of the impacts of the project and its implementation alternatives, presented together with assessments of the scale and significance of such impacts; plans for the mitigation of detrimental impacts; and the publication of an accurate and coherent EIA report. It must assess impacts on nature, human beings and the built environment and cover exceptional situations, environmental accidents, and means to mitigate adverse impacts.
After the programme phase, an EIA report on the assessed environmental effects will be drafted based on the EIA programme as well as opinions and statements presented on the programme. The EIA report will present, for instance, the current state of the environment, the environmental effects of the assessed options and their significance as well as a comparison of the assessed options. In addition, the report will detail methods to prevent and mitigate harmful effects, for instance.
The EIA procedure is an open process, and residents and other stakeholders have the opportunity to take part in it. Residents and other interested parties may participate in the process by expressing their views to the Eastern Finland ELY Centre, which acts as the coordinating authority. The organisation has published the EIA-programme on the internet https://www.ymparisto.fi/hautalammenkaivosYVA.
Opinions on the EIA-programme concerning the project development may be submitted to the North Karelia Centre for Economic Development, Transport and the Environment before 8th January 2021. Opinions should be sent to kirjaamo.pohjois-karjala@ely-keskus.fi or PL 69, 80101 Joensuu.
Open meeting Thursday 17th December
An open digital meeting on the EIA programme will be held commencing on Thursday, 17th December at 17:00 EET o’clock. Invitation can be obtained by sending an e-mail to petra.paldanius@envineer.fi or from the web-page between 16th-17th December https://www.finncobalt.com/?lang=fi.
The public will have the opportunity to express their views on the environmental impact assessment. Another meeting will be held after the EIA report has been completed.
Please observe that the meeting and all material will be all Finnish language.
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.
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.