Svenska
Deutsch
The CEO of the mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “Eurobattery” or the “Company”), Roberto García Martínez, presented the Company at an investor meeting yesterday, 15 January 2024. A recording from the investor meeting is available on Financial Hearings’ webcast, https://ir.financialhearings.com/eurobattery-minerals-2024.
The investor presentation covered, among other things, a status update regarding the progress of the battery mineral mine projects in Finnish Hautalampi and in Spanish Corcel. A selection of the information is summarised below.
In 2023, the Company has increased its stake in FinnCobalt Oy and the Hautalampi project to 70 per cent, and achieved several important milestones in the project, including the publication of a Preliminary Feasibility Study, the achievement of the highest UNFC classification as a viable mining project, the registration of the Hautalampi mining permit, and the submission and approval of an updated Environmental Impact Assessment. In 2024, the Company intends to accelerate the work in Hautalampi by finalising the acquisition of the project, applying for an environmental permit, as well as signing a non-binding offtake agreement and delivering a feasibility study.
In the Spanish Corcel project, the Company continues to await a positive decision from the Energy and Mining Authority of Galicia. Eurobattery has, as previously communicated through a press release on 30 August 2022, submitted all necessary information for environmental and operating permits and will resume the development of Corcel when possible. Since the European Parliament on 12 December 2023 voted in favour of a bill under the Critical Raw Materials Act (CRMA), which among other things entails that the permit process for a mine should be significantly speeded up and that at least 10 per cent of the EU’s annual consumption of strategic raw materials should be mined within the EU by 2030, the Company hopes that the permit process in Corcel will be made easier in the near future.
Stockholm, 12 December 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) today announces the result of a metallurgical study in its Spanish Corcel project. The study, carried out on 3 samples with different Nickel (Ni) grades (medium, low and high), confirms a high level of Nickel worth EUR 113.9 million (1) only in the small part of the Castriz project.
Highlights
- Metallurgical tests for Ni recovery have been performed on 3 samples (medium, low and high grade) from the drilling campaign carried out in 2021 in the Corcel project.
- The results of the metallurgical study, carried out by AGQ LABS, confirm the economic interest of the Corcel project, obtaining Ni recoveries above 50% in all the flotation tests carried out using conventional techniques.
- Considering the results of the flotation tests and the resources estimated in the NI 43-101 Technical Report, there would be 6,435 (2) tonnes of Ni concentrate only in the small part of the Castriz prospect area evaluated. In the larger Corcel, Castriz is one part, but the larger project also includes Monte Mayor and Monte Castello, deposits with similar rock formation indicating a much larger Ni deposit.
“With the metallurgical study in hand we can now see that there is a huge potential in the Corcel project with clear indications of EUR 113.9 million worth of Ni only in the small part of the Castriz project covered. With all current data available we can see that the potential of the Corcel project is significantly higher than previously anticipated. Combining this insight with the identification that we can use well-proven techniques to extract the minerals with recoveries above 50% underline that the outlook for a significant battery mineral mine in Corcel is great,” said Roberto García Martínez, CEO of Eurobattery Minerals.
The metallurgical study was carried out by AGQ LABS in Burguillos (Seville). AGQ LABS is a Chemical Technology Centre with a direct presence in 20 countries and has extensive experience in the mining sector, providing services in both the pre-operational and post-operational stages.
The scope of the study included a first stage of flotation foam and a subsequent stage of acid leaching of the flotation residue. The results obtained showed that the Ni content is recoverable by flotation, obtaining values higher than 50% (higher than 70% in the case of the high-grade sample).
Attached to this press release is an appendix with a detailed summary of the metallurgical study.
The complete metallurgical study is available for download via this link: https://eurobatteryminerals.com/en/projects/corcel-project/.
(1) Considering a payable Ni concentrate price of 17,698 €/t, the gross value of the Ni resources evaluated to date in the Corcel project amounts to 113,889,847 €.
(2) 5,595,580 mineral tonnes x 0.23 (Ni tonnes/100 mineral tonnes) x 50 Ni concentrate tonnes / 100 Ni tonnes) = 6,435 Ni concentrate tonnes
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 Roberto García Martínez, CEO of Eurobattery Minerals AB, on December 12, 2022, at 07:30 CET.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
Email: info@eurobatteryminerals.com
Contact Investor Relations
Sara Pinto
Phone: +49 (0) 89-1250903-35
Email: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB
Phone: +46 (0) 86 042 255,
Email: info@augment.se.
Stockholm, 30 August 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) today announces that it has submitted the necessary document to the Energy & Mining Service of La Coruña, Spain, to complete the Environmental Impact Statement and the Operating Permit for its Spanish battery mineral project Corcel.
“The nickel-cobalt-copper mine in northern Spain will be instrumental in delivering responsibly mined raw material needed for a clean transition of the electric vehicle and energy industry. Due to their scarcity and as a result of the increased demand in recent years, these are recourses declared strategic by the European Union. At Eurobattery Minerals, we are committed to responding to European policymakers and businesses with battery minerals mined in Europe”, said Roberto García Martínez, CEO of Eurobattery Minerals.
More information about the documents submitted
Completion of the Environmental Impact Statement and the Operating Permit is fundamental for the start of mining operations in Corcel. In order to obtain these permits, Eurobattery Minerals has now submitted the Exploitation Project (1), the Environmental Impact Study (2), and the Restoration Plan (3) to the local authorities.
- The Exploitation Project (1) justifies that the Ni-Co-Cu resources within the Corcel project allow for developing a technically and economically viable mining project.
- The Environmental Impact Study (2) analyses the current state of the area where the project will be developed and identifies the possible impacts of the mining project’s implementation on the environment.
- Based on the Environmental Study, the proposed Restoration Plan (3) will be designed for the area’s environmental and landscape integration and ecological improvement. The Restoration Plan justifies that the development of the Corcel mining project adds value to a resource declared as strategic by the European Union due to its scarcity and increased demand in recent years. Furthermore, the development of the Corcel mine is contributing to the “ecological transition” and decarbonisation. It allows the development of an economic activity that generates wealth and employment and positively impacts the area where the project will be implemented.
About the Corcel project
The Corcel project compromises three different deposits (Castriz, Monte Mayor and Monte Castello) and is located on a large Ni-Co-Cu deposit in the northeast of Spain. Based on results from several recent drilling campaigns and independent reports, Eurobattery Minerals aims to produce minerals for a few million car batteries with a capacity of 60 kWh from the Corcel project in the future.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se
Stockholm, 15 June 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”) just received its independent NI 43-101 technical report for the Spanish Ni-Co-Cu project Corcel. Considering a Nickel grade of 0.23% of the Castriz deposit only, Eurobattery Minerals can produce minerals for a few million car batteries with a capacity of 60 kWh in the future.
Key information and findings
- The independent technical report has been set up in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) guidelines and the regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”)
- The report indicates that the Corcel project contains a large Ni Deposit. Only with the mineral evaluation of Castriz zone indicated in the technical report (i.e. about 5.6 million tons of rock with a 0.23% Ni grade), EBM would be able to manufacture 500,000 car batteries with a capacity of 60 kWh. Everything indicates that EBM is dealing with a large Ni deposit, which could easily reach 60 million tons with 0.25 % Ni
- With the underlying mineral evaluation carried out in 2021, the report is covering results from the Castriz prospect zone, on the so-called “West Anomaly” area, defined in 2019, which is one of three primary prospect zones in the Corcel project that also includes Monte Mayor and Monte Castello
Outlook
“We are very happy that we were finally able to finalize and publish the report. With the report in hand we can now concretely predict that with only one tenth of the entire volume of the Corcel deposit we will be able to mine nickel for about half a million car batteries,” said Roberto García Martínez, CEO of Eurobattery Minerals AB.
About the technical report
The report has been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as well as with the CIM Definition Standards for Mineral Resources and Mineral Reserves adopted by the CIM Council in May 2014, and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines prepared by the CIM MRMR Committee in November 2019.
Firstly, a compilation of all historical data and data from the 2019 and 2021 campaigns was carried out and a visit was made to the work area to verify the work procedures. According to the Technical Report, the work procedures comply with the established standards and requirements and the high competence of the technical staff of Corcel Minerals stands out.
With the data collected, a mineral resource model of the Castriz area has been developed by means of a three-dimensional Block Model using Datamine Studio RM software, with a block size of 125 cubic metres.
Once the mineralised zone was modelled, a mineral evaluations was made for different Ni grades.
According to the tonnage-grade table for different Ni grades included in the technical report and the graph represented in figure 2 (see appendix), it can be said that only with the drilling campaign carried out during the year 2021 (which is the area evaluated in the technical report), in the Corcel project, have been evaluated: 5,595,580 tons with 0.23% Ni grade (Ni grade 0.16%).
As indicated in the technical report, the current target area is small but open with good potential to define additional Ni resources. Several of the nickel geochemical anomalies have not been tested and additional mineral resources may be added in these areas.
The report can be downloaded at the following link.
All the tables and figures can be viewed in the appendix of the release (see below).
Qualified persons
The technical report was prepared by Alan C. Noble, P.E. of Ore Reserves Engineering, Lakewood, CO, USA, and by Monica Barrero Bouza, EurGeol. Mr. Noble is a qualified person for resource estimation based on having received a B.S. Degree in Mining Engineering from the Colorado School of Mines, registration as a Professional Engineer in the State of Colorado, USA, and over 50 years of experience with resource estimation on over 156 mineral deposits throughout the world. Mr. Noble is independent of Corcel Minerals, using all the tests of NI 43-101. Ms. Barrero Bouza is a qualified person based on having received a BS Degree in Geology from the University of Oviedo (Spain), registered member of the Official Association of Professional Geologist of Spain (ICOG), registered Eurogeologist, and 25 years of diverse experience in the geology of precious and base metal projects. Ms. Barrero Bouza is independent of Corcel Minerals, using all the tests of NI 43-101.
The works carried out during the year 2021 in the Corcel Project were directed and supervised by Mr. Felipe Antonio Casillas Castañón, Geologist member No. 7572 of the Official Association of Geologists of Spain and European Geologist, No. 1816 with more than 40 years of experience in the investigation of metallic deposits. Felipe also holds degrees in Mining Engineering and Geological Engineering. His extensive experience includes the discovery of two wolfram deposits, a Pb-Zn deposit and an Antimony deposit, all of them in the northwest of Spain. Felipe has already led the geochemical and geophysical prospecting campaigns of the Corcel project in 2019.
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 Roberto García Martínez, CEO of Eurobattery Minerals AB, on 15 June 2022 at 07:30 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.
Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.
Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com
Contact Investor Relations
Linda Lenz
Phone: +49 (0) 172 834 18 92
E-mail: ir@eurobatteryminerals.com
Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB: Phone: +46 (0) 86 042 255, e-mail: info@augment.se.
Stockholm, 29th of March 2022 – Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, announces that additional assay results have been received from the drill holes carried out in the 2021 diamond drilling campaign on its Spanish Corcel project, initiated in June 2021 and completed according to the budget in December 2021. Because of Covid-19, the ALS lab is delayed providing the necessary data needed for the Qualified Person to issue the accredited resource certification (Ni 43-101). This is now expected during the second quarter of 2022.
- Results have been received for 5 drill holes (COR005, COR006, COR007, COR008 and COR011) of the 7 drill holes drilled in the 2021 campaign.
- Elevated levels of nickel (Ni), copper (Cu) and cobalt (Co) intersected in all the drill holes for which results are available. Assay highlights from these drill holes include:
- 17.6 m @ 0.27% Ni, 0.03% Cu and 0.01% Co (COR005)
- 24.1 m @ 0.40% Ni, 0.13% Cu and 0.01% Co (COR006)
- 20.1 m @ 0.41% Ni, 0.07% Cu and 0.01% Co (COR007)
- 22.0 m @ 0.30% Ni, 0.05% Cu and 0.01% Co (COR008)
- 18.40 m @ 0.29% Ni, 0.05% Cu and 0.01% Co (COR011)
- These results, together with those obtained in the 2019 campaign, confirm the interest of the Ni-Cu-Co deposit of the Corcel project and, taking into account the size of the anomalous zone, the company may be looking at a deposit of considerable size (around 60 million tonnes with 0.25% Ni).
- The results of the last two drill holes carried out in the 2021 campaign are awaited and are expected at the end of March, according to laboratory forecasts (ALS).
- Due to delays resulting from Covid-19 at the ALS lab in Ireland, the lab has been unable to finalize the necessary data needed for the Qualified Person to issue the accredited resource certification through the NI 43-101 technical report. This was originally planned for the first quarter of 2022 but is now expected during the second quarter of 2022.
“With 70% of the results in hand, I can assure that the results are as satisfactory as we earlier communicated. We are now eagerly awaiting to obtain the accredited resource certification that will enable us to plan for the next step for our nickel project in the heart of Europe. The tragic developments in our region have yet again underlined the importance of our need for European self-sufficiency in these critical battery minerals”, said Roberto García Martínez, CEO of Eurobattery Minerals.
In 2021 a total of 7 diamond drill holes have been completed with a total drilled length of 1,134 meters. Work has focused on the “West Anomaly” where the company’s previous exploration work recorded ground anomalies of up to 0.33% Ni coincident with an increase in the magnetic response of the underlying rocks. DDH COR003 (19DD0001) confirmed the source of the anomaly in this area with an average grade of 69 m @ 0.30% Ni, 0.038% Cu and 0.01% Co from 78 m depth, including 21m @ 0.345% Ni, 0.045% Cu and 0.011% Co from 78 m depth.
To date, the results of five surveys (COR005, COR006, COR007, COR008 and COR011) have been received, and the results of the last two (COR009 and COR010) are expected to be received by the end of March, according to forecasts from the laboratory where the samples are sent (ALS, Ireland).
Laboratory turnaround times are proving to be longer than normal due to the situation caused by the Covid-19 pandemic in early 2022.
“Our laboratory in Ireland found itself in a critical situation in the first weeks of January with increased turnaround times. Our workforce was significantly reduced due to the steady increase in Covid-19 positive cases and close contact isolates”, said David Risueño Romero,Operation Manager at ALS Global.
Due to delays resulting from Covid-19 at the ALS lab in Ireland, the lab has been unable to finalize the necessary data needed for the Qualified Person to issue the accredited resource certification through the NI 43-101 technical report. This was originally planned for the first quarter of 2022 but is now expected during the second quarter of 2022.
Next steps
With 70% of the results of the samples taken from the drillholes, the results are very satisfactory. The company is waiting to obtain the rest of the results to evaluate the real potential of the investigated area and obtain an accredited resource certification (Ni 43-101) in the second quarter of the year 2022.
Please see appendix for further information: Appendix to press release 29th of March 2022 – Additional detailed summary of the drilling results in Corcel.
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
Follow us:
LinkedIn: https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 29th of March 2022 at 07:30 CEST.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market.
Visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
Stockholm, 17 January 2022 – Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, announces that the first assay results have been received from the drill holes carried out as part of the 2021 diamond drilling campaign on its Spanish Project (Corcel Project), initiated in June 2021 and completed on time and on budget. The company believes the results are highly satisfactory for the continued projection of the Corcel resource.
- The first assay results have been received from the first two drill holes (COR005 and COR006) of the seven drill holes carried out in 2021 in the Corcel Project.
- Elevated levels of nickel (Ni), copper (Cu) and cobalt (Co) intersected in drill holes COR005 & COR006. Assay highlights from the first two drill holes include:
- 17.6 m @ 0.27% Ni, 0.03% Cu and 0.01% Co (COR005)
- 23.2 m @ 0.24% Ni, 0.03% Cu and 0.01% Co (COR006)
- The first assay results of this campaign verify the interesting potential of the “West Anomaly”, where drill hole COR003 (19DD001) confirmed at depth the good results obtained in the geochemical campaign, with an average of 69 m @ 0.30% Ni, 0.04% Cu and 0.01% Co.
- Assay results pending from the remaining drill holes. Results anticipated in the first months of 2022 to obtain the accredited resource certification (Ni 43-101) in the first quarter of 2022.
- Based on the results obtained in the 2019 campaign and the first results received this year, and taking into account the size of the anomalous zone, there is potentially a deposit of considerable size (around 60 million tonnes with 0.25% Ni).
“The results from this and the previous drilling campaign indicate the excellent potential of establishing a solid nickel project in the south of Europe,” commented Roberto García Martínez, CEO of Eurobattery Minerals.
In 2021, a total of seven diamond drill holes were completed with a total drilled length of 1,134 meters. Work focused on the “West Anomaly” where the company’s previous exploration work recorded ground anomalies of up to 0.33% Ni coincident with an increase in the magnetic response of the underlying rocks. DDH COR003 (19DD0001) confirmed the source of the anomaly in this area with an average grade of 69 m @ 0.30% Ni, 0.038% Cu and 0.01% Co from 78 m depth, including 21 m @ 0.345% Ni, 0.045% Cu and 0.011% Co from 78 m depth.
Summary of the first drilling results
The 2021 drilling campaign was designed to define – from surface to a depth of approximately 150 metres – the existing resources of Ni, Cu and Co in an area that is approximately 150 metres in length along the western anomaly defined in the 2019 campaign, which has a North-South length of approximately 1,200 meters and an East-West width of approximately 375 meters.
The results of the sample assays from the current drilling campaign are mostly pending. To date, only those corresponding to hole COR005 and part of hole COR006 have been received.
The assay results available to date are highly satisfactory and corroborate the interesting potential of the “West Anomaly” as can be seen in the table below, which presents the intersections of these drill holes determined at a 0.15% Ni cut-off grade (normally applied in Ni open-pit mines).
|
HOLE |
|
FROM (m) |
TO (m) |
INT (m) |
Ni (%) |
Cu (%) |
Co (%) |
|
COR005 |
|
17,05 |
122,80 |
105,75 |
0,200 |
0,024 |
0,012 |
|
incl. |
41,50 |
45,50 |
4,00 |
0,230 |
0,055 |
0,014 | |
|
and |
85,20 |
103,20 |
18,00 |
0,246 |
0,040 |
0,011 | |
|
incl. |
88,20 |
91,20 |
3,00 |
0,311 |
0,059 |
0,012 | |
|
and |
105,20 |
122,80 |
17,60 |
0,268 |
0,029 |
0,011 | |
|
incl. |
105,20 |
110,20 |
5,00 |
0,345 |
0,059 |
0,013 | |
|
COR006 |
|
5,90 |
10,60 |
4,70 |
0,414 |
0,117 |
0,015 |
|
|
54,40 |
77,60 |
23,20 |
0,236 |
0,027 |
0,011 | |
|
incl. |
57,40 |
65,60 |
8,20 |
0,290 |
0,049 |
0,012 | |
|
incl. |
58,40 |
61,40 |
3,00 |
0,396 |
0,083 |
0,013 |
Table 1. Initial assay highlights. Average grades have been determined with a cut-off grade of 0.15% Ni.
In drill hole COR005, all the results of which are available, several intersections with high Ni grades (above 0.2%) have been identified:
- 4 m @ 0.230% Ni, 0.055% Cu and 0.014% Co from 41.50 m depth.
- 18 m @ 0.246% Ni, 0,040% Cu and 0.011% Co from 85.20 m depth (which includes an intersection of 3 m @ 0.311% Ni, 0.059% Cu and 0.012% Co).
- 17.60 m @ 0.268% Ni, 0.029% Cu and 0.011% Co from 105.20 m depth (which includes an intersection of 5 m @ 0.345% Ni, 0.059% Cu and 0.013% Co).
These intersections were within a broader intersection of 105.75 m @ 0.200 % Ni, 0.024% Cu and 0.012% Co from 17.05 m depth.
For drill hole COR006, only partial results are available for two sections, where the following mineral intersections have been identified:
- 4.70 m @ 0.414% Ni, 0.117% Cu and 0.015% Co, from 5.90 m depth.
- 23.20 m @ 0.236% Ni, 0.027% Cu and 0.0115 Co, from 54.40 m depth. This includes 3 m @ 0.396% Ni, 0.083% Cu and 0.013% Co from 58.40 m depth.
The Ni mineralisation present is mainly Pentlandite (see Figure 1). This mineralisation is closely linked to Ultramafic and Ultrabasic rocks consisting of Pyroxenites and Peridotites, which are amphibolitised to varying degrees of intensity in the vicinity of the mineralisation.
Figure 1. Pentlandite mineralisation in drill hole COR005 (61.25 m depth).
Figure 2 shows the “looking North” section according to drill holes COR003, COR005 and COR006, where the mineralised zones intersected by these drill holes can be seen. Here, large orange-coloured zones can be observed corresponding to mineralisation with samples displaying values between 0.2% Ni and 0.25% Ni. These mineralised zones are located around other red-coloured zones that represent samples with Ni values above 0.25%, reaching values of 0.6% Ni.
In view of this section, albeit incomplete and taking into account a possible cut-off grade of 0.15 % Ni for an exploitable deposit in open pit, indications suggest a mineralised body with a width of between 90 m and 120 m from the surface elevation of 380 m to the elevation of 250 m, which was the depth investigated.
The western limit of the mineralisation is comprised of a fault, with apparent strengths of between three and five metres, with the result that from here to the west, all the drill holes cut gabbroic rock with intercalations of amphibolite layers and whose analytical results never exceed 950 ppm Ni (sterile area).
Figure 2. “Looking North” section according to drill holes COR003, COR005 and COR006.
Next steps
The company is satisfied with the results obtained in the first two drill holes of the 2021 campaign and is awaiting the remaining results to assess the potential of the area investigated during this campaign and obtain an accredited resource certification (Ni 43-101) in the first quarter of 2022.
As indicated in Figure 3, which shows the geology of the area and the drill holes with the mineral intersections, it is evident that – despite many assay values yet to be received – we are beginning to see a section of a deposit that could potentially be of a considerable dimension. This is supported by the drill holes carried out in 2019, further north of the area investigated in 2021 at some 600 metres distance (COR001 and COR002), which also cut mineralisation with values in the same order as those obtained in this campaign. Considering the size of the anomalous zone, there is potentially a deposit of some 60 million tonnes with a nickel grade of 0.25%.
Figure 3. Geological map and drill holes
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
Follow us:
LinkedIn: https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 17 January 2022 at 08:00 CET.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market.
Visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
Stockholm, 28 December 2021 – Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”), a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces the completion of the drilling campaigns in its Hautalampi project in Finland and its Corcel project in Spain. The campaigns have been completed on schedule and on budget. The drill cores have been dispatched to a laboratory operated by ALS to verify the resources. Due to delays at the lab because of the Covid-19 pandemic, the results will be presented in the first quarter of 2022.
“We are pleased to announce the completion of the drilling campaigns in both the Hautalampi and Corcel projects, where we see great potential for mining battery minerals on European soil. We are now eagerly awaiting the results from the lab,” comments Roberto Garcia, CEO of Eurobattery Minerals.
About the Hautalampi project drilling campaign
FinnCobalt Oy has informed Eurobattery Minerals that the recent core drilling campaign at the Hautalampi Mine development project (“Phase 2”) has been completed on schedule and on budget. Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oy in a staged acquisition.
FinnCobalt Oy commenced a new drilling campaign in mid-October 2021 in the Hautalampi mine project development area. The campaign covered the previously non-drilled gap area between the Hautalampi deposit and the north-eastern extension of the project, known as the Mökkivaara deposits, and aimed to verify resources between these already established deposits.
In total, 45 holes have been completed totalling 4,606 metres in length. The Phase 2 drilling campaign will continue with core logging and assaying, which is expected to be completed during the first quarter of 2022. This will be followed by the mineral resource update to be completed in the second quarter of 2022.
The main goals of the Phase 2 drilling campaign were:
- Convert inferred resource to indicated resource at the Hautalampi resource area through drilling the most important gaps in the currently existing indicated resource zone (Hautalampi-Resource conversion).
- Extend the Hautalampi resource area further to the north-east (Central-Resource extension).
- Fill the drilling gap between the existing Hautalampi resource area and the north-eastern extension known as the Mökkivaara resource area (Central-Gap fill).
- Create an indicated mineral resource of the Mökkivaara resource by increasing the drilling density.
Based on the visual observations of the drill cores, the campaign is expected to reach all the goals set.
Map of the drilling operations in the Hautalampi project
About the Corcel project drilling campaign
The diamond drilling campaign in Eurobattery Minerals’ Spanish Corcel project initiated in June 2021 has been completed on budget and on schedule.
Key points from the 2021 drilling campaign:
- The drilling campaign initiated in June 2021 at the Corcel Project has been completed.
- A total of seven diamond drill holes were completed at a total drilled length of 1,134 metres.
- Work in this campaign focused on the “West Anomaly,” where drill hole COR003 (19DD001) confirmed at depth the favourable results obtained in the geochemical campaign, with an average of 69m @ 0.30% Ni, 0.038% Cu, 0.01%.
A total of seven diamond drill holes were completed at a total drilled length of 1,134 metres. Work focused on the “West Anomaly,” where the company’s previous exploration work recorded ground anomalies of up to 0.33% Ni coincident with an increase in the magnetic response of the underlying rocks. DDH COR003 (19DD0001) confirmed the source of the anomaly in this area with an average grade of 69m @ 0.30% Ni, 0.038% Cu, 0.01% Co from 78m, including 21m @ 0.345% Ni, 0.045% Cu, 0.011% Co from 78m depth. Work will continue with the logging and sampling of the drill holes and is expected to be completed in the first quarter of 2022.
The objective of this campaign was to fully recognise this anomaly and obtain a resource estimate in this area. Based on the core observations in the boreholes, the campaign is expected to achieve its objective and a proven resource estimate in accordance with National Instrument 43-101 – Standards for Disclosure for Minerals Projects (“NI 43-101”) is expected in the first quarter of 2022.
Image 1. DDH realised in the 2021 campaign.
For more information, please contact:
Roberto García Martínez, CEO of Eurobattery Minerals
Follow us:
LinkedIn: https://www.linkedin.com/company/eurobattery-minerals-ab/
Twitter: https://twitter.com/eurobatterymin
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market.
Visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
- A new drilling campaign starting in June 2021 will target the Castriz prospect zone. Castriz is one of three primary prospects in the larger Corcel project in Spain, together with Monte Mayor and Monte Castello.
- With a target of approximately 1,000 metres of new drilling, the campaign – along with an estimate of inferred resources as stipulated in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC code) – will be finalised in December 2021.
- The previous drilling campaign in 2019 confirmed a larger-than-expected mineralised zone and demonstrated the existence of extensive Ni-Cu-Co anomalies with higher grade values than initially anticipated (especially in Ni).
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, hereby announces the start of a new drilling campaign as part of its Spanish Corcel project. The new drilling campaign will target the Castriz prospect zone. Castriz is one of three primary prospects in the larger Corcel project, together with Monte Mayor and Monte Castello. The aim of the drilling campaign is to obtain an estimate of inferred resources, as stipulated in the JORC code. The drilling campaign and the JORC resource estimate will be finalised in December 2021. The Corcel project is located in northwest Spain, some 50 kilometres from the city of La Coruña.
“I am excited about the start of the new drilling campaign in our Spanish battery minerals project. We already know that the Corcel project has significant potential. This year’s drilling and subsequent JORC will give us a more precise calculation of the ore potential. With this in hand, we will be able to take the next step in preparing for an open-pit mine for European-mined battery minerals, which is our objective in Corcel,” says Roberto García Martínez, CEO of Eurobattery Minerals.
The drilling campaign will begin in June and be finalised in December 2021, with a target of carrying out new drilling totalling approximately 1,000 metres. The aim of the new campaign is to define an accredited resource estimation using the JORC code. The code sets out the minimum standards, recommendations and guidelines for estimating and public reporting of exploration results, mineral resources and ore reserves.
The previous drilling campaign in 2019 demonstrated extensive Ni-Cu-Co anomalies with higher grade values than initially expected (especially in Ni). The final results of the work carried out in 2019 showed that the mineralised area prospected was more significant than initially expected. The drilling results considerably increased the size of the prospective resource, confirmed the grade and demonstrated the continued potential for large tonnage resource. The results of the mineral test conducted by SGS Lakefield in Canada and ALS GLOBAL in Perth, Australia, confirmed the economical grade nickel sulphide found in the Corcel Project1:
- The results from the analytical method utilised by ALS Global (ME-ICP09) confirmed that 75-85% of the nickel in the samples submitted is attributable to nickel sourced from economic sulphide minerals.
- The mineral studies conducted by SGS Lakefield in Canada (QEMSCAN and EPMA) determined the predominant Ni-sulphide mineral pentlandite with very minor millerite and violarite. Silicate minerals, iron oxides and chromite contain relatively low nickel concentrations.
The 2021 drilling works will focus on the “western anomaly,” in the vicinity of the DDH COR003 (19DD0001), where the company’s previous exploration activities recorded soil anomalies up to 0.33% Ni coincident, with an increase in the magnetic response of the underlying rocks. The DDH COR003 (19DD0001) confirmed the source of the anomaly in this area with an average grade of 69m @ 0.30% Ni, 0.038% Cu, 0.01% Co from 78m, including 21m @ 0.345% Ni, 0.045% Cu, 0.011% Co from 78m depth. Due to the results obtained during the last campaign, the objective of the work in 2021 is to fully recognise the anomaly and to be able to obtain resources from this area by the end of the year. In order to carry out the drilling work, an agreement has been reached with the owners of the land where the anomaly is located.
Image 1. Work area during 2021
The leading infrastructure contractor GEONOR will perform the drilling campaign. GEONOR previously drilled the 2019 diamond drill holes in the Corcel project and is thus familiar with the characteristics of the terrain to be drilled during this campaign.
For further information, please contact:
Roberto García Martínez, CEO
E-mail: roberto@eurobatteryminerals.com
Website: https://eurobatteryminerals.com/en/
This information is such 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 at 8:30 a.m. CEST on June 15, 2021.
About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on NGM Nordic SME (BAT) and Börse Stuttgart (EBM). As the foundation of the battery value chain, the company’s vision is to help Europe become self-sufficient in ethical and fully traceable battery minerals for the electric vehicle industry. The company is focused on exploration and development of several nickel-cobalt-copper projects in Europe to supply sustainably mined raw materials critical to the rapidly growing battery market.
Please visit www.eurobatteryminerals.com for more information.
Augment Partners AB, e-mail: info@augment.se, phone: +46 8-604 22 55, is the company’s Mentor.
1 Mineral tests confirm economical grade nickel sulphide at Corcel, Press release 20 September 2020
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 mineral test results conducted by SGS in Canada on the nickel, cobalt, copper Castriz prospect in Galicia, northwest Spain. In the larger Corcel project, Castriz is one of three primary prospects together with Monte Mayor and Monte Castello.
Key points:
- Mineral identification and characterisation studies completed on mineralised samples from Castriz Ni-Cu-Co prospect at the Corcel project.
- The results of the analysis conducted by SGS Lakefield in Canada confirms the economical grade nickel sulphide findings in the Corcel project and further confirms the broader prospectively of the Castriz project area.
Seven samples from four diamond drill holes completed in 2019 were submitted to SGS Lakefield (Canada) for mineral identification and characterisation using QEMSCAN (Quantitative Evaluation of Materials by Scanning Electron Microscopy), chemical analysis and EPMA (electron microprobe analysis). The majority of samples were selected from the main mineralised nickel sulphide intervals previously confirmed by geochemical assaying (Fig. 1)[1][2]. The objective of the study was to determine the mineral abundances and high-level analysis of liberation characteristics of sulphide and gangue (waste) minerals to aid with future mineral testing programmes.“We are encouraged by the mineral test results which confirm high-value nickel sulphide minerals as dominating asset in the Castriz deposit. Our attention will now turn to identifying ways to maximise the value of our discovery by identifying potential massive sulphide zones and assessing the optimal mineral processing option for recovering the sulphides. The Corcel Project holds an important position in our project pipeline and we look forward to unlocking further value from this project in the future,” said Roberto García Martínez, CEO of Eurobattery Minerals.
Figure 1. Plan view of the Castriz prospect showing highest priority areas for further investigation (blue boxes). Drill hole intersections show nickel-in-sulphide assay results.
The Project
Samples submitted for analysis were sourced from mineralised intervals from the “Northern” and “Western” anomalies (Figs. 1). The mineral studies determined the predominant Ni-sulphide mineral to be pentlandite ([Fe,Ni]9S8) with very minor millerite (NiS) and violarite (Fe2+Ni3+2S4). Silicate minerals, iron oxides and chromite contain relatively low nickel concentrations. The main silicates minerals include serpentine, pyroxenes, amphibole and chlorite. The Company is pleased that nickel concentrations in silicate minerals is low as this variety if nickel is refractory and physically non-recoverable. Furthermore, BAT is encouraged that the main Ni-bearing sulphide mineral is pentlandite as it is amenable to the conventional mineral recovery process of froth flotation. Initial nickel and copper mineral characteristics indicate that liberation will likely improve with decreasing grind size. Additional experimental studies are required to further understand mineral recovery parameters.
Next steps
The Company is encouraged by the latest evidence on the presence of nickel sulphides at Castriz which further confirms the broader prospectivity of the project area. BAT is assessing the latest mineral analysis results in relation to potential economic implications and development scenarios. Both bulk tonnage (low grade, large tonnage) and selective mining (high grade, smaller tonnage) strategies are being evaluated.
The Company is currently engaging with geophysical consultants and contractors to assess alternative geophysical methods, including electromagnetic (EM) surveys, that will preferentially image denser accumulations of sulphide minerals. Such metal accumulations are likely to have compelling financial metrics and be amenable to lower tonnage, selective mining methods.
All future capital intensive work programmes proposed at Corcel are being assessed in the context of the Company’s larger project portfolio. The Company remains focused on advancing its near-term production projects.
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 21 September 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 one mining licence 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 BAT press release 4th May 2020 “New test results from Corcel Project confirm high proportion of nickel sulphide”.
[2]See BAT press release 22nd June 2020 “Final assays confirm high nickel sulphides discovery at Corcel Project”.
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 the final results for sulphide mineral tests at the nickel, cobalt, copper Castriz prospect in Galicia, northwest Spain. In the larger Corcel project, Castriz is one of three primary prospects together with Monte Mayor and Monte Castello.
Key points:
- Final assay results received from nickel sulphide (Ni•S) assays on mineralised samples from recent drilling at the Castriz prospect in northwest Spain confirm significant nickel sulphide discovery at Castriz.
- Analytical methods that detect nickel sourced from sulphide minerals has shown that 75% to 85% of the total nickel from the main mineralised intervals previously reported is from sulphide minerals.
-
Assay highlights include:
- 21m @ 0.26% Ni•S from 78m and 12m @ 0.41% Ni•S from 129m, including 3m @ 0.64% Ni•S from 132m (19DD0001)
- 24.5m @ 0.26% Ni•S from 14.5m, including 12.5m @ 0.31% Ni•S from 14.5m (19DD0002)
- 24.35m @ 0.31% Ni•S from 182.5m, including 9.0m @ 0.40% Ni•S from 191.5m (19DD0003)
- Nickel grades considered to be of economic grade with 0.15% Ni a common cut-off grade for open pit resources.
- Prospective area confirmed for over 700m in strike length and approximately 700m in width with mineralisation commencing at surface to vertical depth of 200m. This makes Castriz potentially amenable to low-cost, open pit bulk mining.
- Samples submitted for more detailed mineralogy studies and QEMSCAN analysis to determine sulphide species and mineral liberation characteristics.
A total of 129 samples from four different drill holes from the 2019 Castriz drilling were analysed by ALS Global[1] in Perth, Australia, using methods for analysing the proportion of nickel in a rock sourced from sulphide minerals. Nickel sulphide, also known as Class 1 nickel, is the preferred mineral for producing the intermediate products required for electric battery applications. The latest results from across previously reported intervals confirms most of the nickel is sourced from economic sulphide minerals.
– The final assay results confirm Castriz to be a significant nickel sulphide discovery. With these results, we have taken a large step forward in our ambition to become a producer of battery minerals and thus a significant contributor to the foundation of the battery value chain in Europe. We will now look into different development scenarios at Castriz, including mineral processing and mining studies, said Roberto García Martínez, CEO of Eurobattery Minerals.
Summary of final nickel-in-sulphide assay results
The analytical method utilised, referred to by ALS Global as ME-ICP09, is specifically applicable for assessing the proportion of nickel sulphide. In conjunction with total nickel analysis (ME-ICP61), which gives total nickel contents of the rock, it is possible to assess the proportion of economic sulphide nickel versus non-economic nickel contained in silicate minerals.
The final assay results confirm that most of the nickel in the samples submitted is attributable to nickel sourced from economic sulphide minerals (Table 1). Nickel in the main mineralised intervals is sourced 75-85% from sulphide minerals. The Company is extremely encouraged about the potential size of the mineral system discovered, which measures at least 700m in strike and 700m in width based on limited drilling completed so far. Importantly, mineralisation commences from surface to a depth of over 200m, making the ore body potentially amenable to low cost, open pit mining.
Table 1. Nickel-in-sulphide assays from drilling at Castriz prospect.
| Hole ID | From (m) | To (m) | Int (m) | ME-ICP61 | ME-ICP09 | % Ni-in- | |
| Total | Sulphide | sulphide vs | |||||
| Ni ppm | Ni ppm | total Ni | |||||
| 19DD0001 | 45.00 | 147.00 | 102.00 | 0.28 | 0.21 | 75% | |
| incl. | 78.00 | 147.00 | 69.00 | 0.30 | 0.23 | 75% | |
| incl. | 78.00 | 99.00 | 21.00 | 0.35 | 0.26 | 76% | |
| and | 129.00 | 141.00 | 12.00 | 0.48 | 0.41 | 85% | |
| incl. | 132.00 | 135.00 | 3.00 | 0.69 | 0.64 | 93% | |
| 19DD0002 | 3.00 | 114.00 | 111.00 | 0.21 | 0.18 | 84% | |
| incl. | 14.50 | 39.00 | 24.50 | 0.30 | 0.26 | 86% | |
| incl. | 14.50 | 27.00 | 12.50 | 0.36 | 0.31 | 87% | |
| 19DD0003 | 131.50 | 206.85 | 75.35 | 0.24 | 0.21 | 86% | |
| incl. | 182.50 | 206.85 | 24.35 | 0.34 | 0.31 | 89% | |
| incl. | 191.50 | 200.50 | 9.00 | 0.44 | 0.40 | 90% | |
| 19DD0004 | 6.80 | 35.60 | 28.80 | 0.20 | 0.12 | 60% | |
| 178.85 | 251.30 | 72.45 | 0.20 | 0.14 | 71% |
Next steps
Samples are currently being analysed at SGS’s Canadian facilities for more detailed mineralogy studies and QEMSCAN analysis to determine sulphide species and mineral liberation characteristics. The results of these studies will be used in assessing the economics of potential development scenarios at Castriz.
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 22 June 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 one mining licence 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] ALS Global is the leading full-service provider of analytical geochemistry services to the global mining industry.