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Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”) a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that FinnCobalt Oyj (formerly Vulcan Hautalampi Oy) has informed the Company the completion of Phase 1 drilling at the Hautalampi Ni-Co-Cu Project (“Hautalampi”; “the Project”), eastern Finland. The drilling campaign has confirmed resource expansion potential between 800 meters and 1,400 meters along strike from historical mineral resource estimate with consistent Ni-Co-Cu mineralisation being intersected.  Eurobattery Minerals has the option to acquire 100% of FinnCobalt Oyj in a staged acquisition.

Key points:

We are incredibly impressed with the progress of the Project so far with drilling being completed well ahead of schedule and are encouraged with what FinnCobalt has observed in the drilling and the initial assay results confirm our expectations. The high-grade intersection of 1.59% cobalt and 1.40% nickel is particularly pleasing and confirms the potential of the Project. We look forward to receiving the remaining assay results in the coming weeks”, said Roberto García Martínez, CEO of Eurobattery Minerals.

FinnCobalt has informed the Company that Phase 1 drilling has been completed at Hautalampi Project. All drill holes were completed within the valid Hautalampi mining concession. The Phase 1 drilling programme is the first completed since the Company announced the option to acquire the Project in May 2020[1]. Drilling targeted resource extensions along strike from the historic NI43-101 mineral resource estimate of 3.15Mt @ 0.43% Ni, 0.35% Cu, 0.12% Co (Fig. 1). A total of 29 drill holes were completed for 3,769m (Fig. 1).

More than 1,000 samples have so far been submitted for geochemical assaying at ALS Geochemistry in Outokumpu. Drilling has confirmed the presence of Ni-Co-Cu sulphides and resource expansion potential between 800m and 1,400m along strike from the previously defined historical mineral resource. A consistent zone of mineralisation containing Ni-Co-Cu sulphides have being intersected including high-grade Co-Ni mineralisation (Fig. 2).

Assay highlights include:

Hole_ID From (m)To (m)Int. (m)Ni (%)Co (%)Cu (%)NiEq (%)
HA20-018 51.0053.002.000.630.450.291.85
 incl.52.2052.700.501.401.590.265.32
  89.4091.001.600.280.080.170.55
HA20-017 62.5064.001.500.360.020.000.40
  75.5080.004.500.310.010.010.35
 incl.75.5077.001.500.390.020.010.44
  91.0092.001.000.300.030.030.39
  138.00142.004.000.260.020.020.33
 incl.138.00139.001.000.370.050.080.52
  149.00150.001.000.250.020.250.41
HA20-016 59.0060.001.000.370.190.290.96
  71.0077.306.300.250.050.100.41
 incl.75.0076.001.000.290.050.090.44
HA20-005 74.0076.402.400.470.030.010.55
 incl.75.7076.400.700.880.080.041.08
HA20-001 84.2589.004.750.300.010.000.33
 incl.88.0089.001.000.650.030.000.73

Eurobattery Minerals is highly encouraged by the initial assay results which confirm the potential for economic grades of Ni-Co-Cu mineralisation being found outside the historic mineral resource area. The high-grade cobalt and nickel intersection is of particular interest for the addition of high-value resources.FinnCobalt have informed the Company that following geological logging and core processing, all remaining assays will be received over the next 6-8 weeks. Following receipt of the final assays, FinnCobalt and the Company will assess all drilling results and plan the next stage of resource expansion drilling and prefeasibility study.

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Figure 1. Drill hole collar plan for Hautalampi Project. Drill holes recently completed highlighted by red dots.

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Figure 2. Drill hole HA20-018 showing massive sulphide zone from 51.4-52.4m. Interval assayed 2m @ 0.45% Co, 0.63% Ni, 0.29% Cu (1.85% NiEq) from 51m, including 0.5m @ 1.59% Co, 1.4% Ni, 0.26% Cu (5.32% NiEq) from 52.2m.

For further information, please contact:

Roberto García Martínez, CEO 

E-mail: roberto@eurobatteryminerals.com

Website: https://eurobatteryminerals.com/en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 13 October 2020 at 08:00 CEST.

About Eurobattery Minerals

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has two mining licences and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.

[1] See press release 11th May 2020 “Eurobattery Minerals signs investment agreement with option to acquire the Hautalampi nickel-cobalt-copper mine.

Eurobattery Minerals 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 Vulcan Hautalampi Oy (“VHOy”) has commenced the Environmental Impact Assessment (“EIA”) procedure for its 100% owned Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project (“Hautalampi”; “the Project”) in Outokumpu, eastern Finland. Eurobattery Minerals has the option to acquire 100% of VHOy in a staged acquisition.

Key points:

“We are incredibly pleased that Vulcan Hautalampi Oy has commenced the EIA procedure so quickly. The EIA is an important step in the process of preparing a fully-fledged mine and battery chemicals plant. This brings Eurobattery Minerals closer to becoming a supplier of ethically sourced and traceable minerals and chemicals critical for the EV industry”, said Roberto García Martínez, CEO of Eurobattery Minerals.  

VHOy (aka FinnCobalt), has informed the Company that the process for advancing the EIA for combined mining and processing at Hautalampi has commenced. It is the Company’s vision to produce Cu-concentrate and either Ni-Co-concentrate or even high value battery Ni-Co-chemicals suitable for electric vehicle (EV) battery manufacturing. This would fulfil the Company’s strategy of being a foundation member of the EV battery value chain in Europe.

The purpose of the EIA procedure is to generate information on the environmental impacts of a project, facilitate the consideration of environmental issues in planning and decision-making processes, and give the public and other stakeholders opportunities to participate in and affect these processes. An EIA must be conducted for all mining projects and is defined by law (EIA Act and Decree [227/2017]). The developer is responsible for investigating and assessing the environmental impacts of the project.

A preliminary consultation meeting has been held between key authorities and VHOy. The involvement of key stakeholders throughout the assessment process is a prerequisite and VHOy looks forward to engaging with them throughout the procedure. VHOy will convene an EIA-procedure monitoring group to facilitate the flow of information.

EIA procedure

The EIA procedure forms part of project planning and is conducted before any decisions are made to officially approve a proposed project. The EIA has two main phases resulting in the publication of an EIA programme and an EIA report. Arrangements for participation play an important role in both phases (Figure 1). The EIA programme will be published and a public hearing will be organised. All relevant stakeholders have a right to give their view of the planned EIA. The EIA procedure concludes with a view and justified conclusion provided by the coordinating environmental authority.

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.

80e8e166d0bbe8bf_800x800ar

Figure 1. EIA procedure (from Finnish Environment Institute).

Envineer Oy

Envineer Oy is a Finnish planning and consulting company founded in 2017. It operates throughout Finland and provides services from small design tasks to managing large projects. Envineer offers expert services in environmental consulting, nature surveys and assessments, contaminated land, waste management and material recovery, spatial planning, geo- and structural engineering, construction, and environmental research and rehabilitation. At the heart of the services are flexibility, reliability and expertise. It is a strong expert in mining, earth and aggregate projects and supporting the implementation of regulatory obligations.

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 17 August 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.






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 Vulcan Hautalampi Oy (“VHOy”) is about to commence drilling at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project (“Hautalampi”; “the project”) in Outokumpu, eastern Finland. The Company has the option to acquire 100% of VHOy in a staged acquisition for an aggregate consideration of €6.05m in shares and cash.








Key points:






The 100% owner and manager of the Hautalampi Project, VHOy, have informed the Company that a diamond drill rig and crew are scheduled to arrive at the site on Monday 13
th July with drilling to commence immediately. The drilling contractor, Northdrill Oy,
www.northdrill.fi/en is an experienced operator in Finland and previously worked on the project in 2017-2018.








– We are incredibly pleased and satisfied for this smooth and quick start-up of the drilling campaign at Hautalampi, said Roberto García Martínez, CEO of Eurobattery Minerals
. Desktop studies of historical drilling and the geological model has recognised the area for resource expansion is greater than previously identified. This is an exciting time for both companies as we fast-track the project to production and we look forward to seeing the results of the drilling over the coming months.







The Project






The Hautalampi Project is located at the same site as the famous Keretti (Outokumpu) copper mine (Figure 1). Approximately 28.5Mt @ 3.8% Cu was mined at Keretti from 1912 – 1989. The Hautalampi Ni-Co-Cu orebody is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations and roads, provide significant location advantages to the project. Approximately €10-15M has been invested in Hautalampi by previous owners, including 22,000m of core drilling, a decline and additional underground mine development works (2,100m), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study. Previous investment enables VHOy and BAT to fast-track the project to an updated feasibility study status.






Figure 1. Location map of Hautalampi Project, eastern Finland.





Drilling Programme






The phase 1 drilling programme has been planned to cover approximately two thirds of the prospective Blue Sky zone. Approximately 45 – 50 drill holes have been planned for 4,500 – 5,000m (Figure 2). Drilling will be undertaken by Northdrill Oy, an experienced contractor with substantial experience in the project area. The drill rig is well conditioned to operate year round, including winter (Figure 3). Drilling rates are anticipated to be approximately 1,500m per month. The Company plans to mobilise additional drill rigs to expedite the completion of phase 1 drilling.Drill holes will be spaced along sections to infill the historical drilling which was completed on 80m sections, thereby providing total coverage at 40m section spacing. Each drill hole will be spaced at 40m within each section. The mineralised horizons in the zones being targeted are relatively shallow and appear to have the most promising metal grades. Drill holes will be angled at approximately -80° to intersect the lodes perpendicular. Drill hole depths will range from 50 – 190m, with an average depth of approximately 110m









Figure 2. Plan view of Mineral Resource and Blue Sky zones highlighting proposed drillhole collar locations (red dots).









Figure 3. Northdrill Oy drill rig manufactured to operate year round in Finland.








For further information, please contact:







Roberto García Martínez, CEO 






E-mail:



roberto@eurobatteryminerals.com








Website:



https://eurobatteryminerals.com/en/









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.


Eurobattery Minerals AB (NGM Nordic SME: “BAT”; the “Company”), a growth company in the mining and exploration industry, closes the investment and shareholders agreement that was entered into on 11 may 2020. The investment and shareholders agreement includes an option for a staged acquisition of 100 per cent of the shares in Vulcan Hautalampi Oy (“VHOy”). The Company paid €0.05M in cash and €0.2M in BAT shares at the closing in consideration for the options to acquire VHOy.

The consideration in BAT shares is made at a price of €200,001 and is paid a 100 percent through the seller’s claim towards the Company, which is set off against payment for 150,663 BAT shares subscribed by the sellers in a directed issue. The shares are issued at an amount of SEK 14.01307 per share, which corresponds to the volume-weighted average price quote on Nordic SME for the Company’s share during ten days prior to the general meeting’s resolution to issue the shares.

All three sellers have entered into a lock-up agreement with the Company. The lock-up period starts today (27 may 2020) and ends on the date falling 270 days after the subscription of the directed issue.

More information regarding the investment and shareholders agreement is available in the press release that was made public on 11 may 2020.

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 27 May 2020 at 12:45 CEST.

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 Spain and northern Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, email: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor


Eurobattery Minerals AB (NGM Nordic SME: “BAT”; the “Company”), a growth company in the mining and exploration industry, has signed an investment and shareholders agreement including an option for a staged acquisition of 100 per
cent of the shares in Vulcan Hautalampi Oy (“VHOy”), 100 per cent owner of the Hautalampi Nickel-Cobalt-Copper Project, in eastern Finland. The option under the Investment and Shareholders Agreement is linked to an obligation to
provide successive cash financing for investments in the Hautalampi nickel-cobalt-copper Project (the “Hautalampi Project”). The consideration to be paid by BAT for acquired shares in VHOy and the option premium, and the cash
financing to be provided by BAT for the Hautalampi Project amount to approximately €8.6M in total, payable during 48 months. The Board of Directors of the Company has decided, subject the approval of an Extraordinary General
Meeting, on a rights issue of units to finance some of the mining activities in connection with the acquisition. For the partial payment of the option premium, the Company will issue new shares to the existing shareholders of VHOy
amounting to €0.2M. More information regarding the rights issue of units will be given through a separate press release.

The Hautalampi Project is located at the same site as the famous Keretti (Outokumpu) copper mine (1912-1989). The Hautalampi Ni-Co-Cu orebody is located parallel to and above the exploited copper deposit. Existing surface and
underground infrastructure provide significant location advantages in what is already a tier 1 mining jurisdiction.

– This acquisition is an important milestone for Eurobattery Minerals as it accelerates our business strategy and shortens the time to us being producers. As the foundation of the battery value chain we are committed to provide
ethically produced and traceable battery minerals from Europe critical for the rapidly growing electric vehicle industry, said Roberto García Martínez, CEO of Eurobattery Minerals.

Key points:

Acquisition terms

The Company has options to acquire 100 per cent of VHOy in a multi-staged transaction in consideration for €6.05M in cash and BAT shares over a 48 months period. The acquisition is structured as follows:

The sellers’ shares will be locked-up for nine (9) months from the point in time when new shares are issued to them. There is a drag-along clause at a valuation exceeding €15.0M, where the Company has to sell its shares if the old
shareholders decide to sell to another party (this at a point when the Company has invested a maximum of €3.5M).

The Board of Directors of the Company has decided, subject the approval of an Extraordinary General Meeting, on a rights issue of units to finance some of the mining activities in connection with the acquisition. More information
regarding the rights issue of units will be given through a separate press release.

 

The Hautalampi Project

Please see the attached full report for details.

 

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 11 May 2020 at 08:00 CEST.

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 Spain
and northern Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.Augment Partners AB, email: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor

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