Mineral Resource Of Rapasaari Deposit Has Increased By Nearly 40 Percent

FINLAND - The Mineral Resource estimate for Keliber’s Rapasaari lithium deposit has been updated. According to the new estimate, the Measured and Indicated Mineral Resources of Rapasaari are 6.183 million tonnes, which is approximately 40 percent more than previously estimated.

After the publication of the previous Rapasaari mineral resource estimate in May 2018, the company has continued its exploration and resource drilling program and drilled a total of 13,242 meters in the Rapasaari area. According to the new JORC 2012 compliant estimate, the Measured and Indicated Mineral Resource of Rapasaari deposit has increased by nearly 40 percent. The JORC 2012 compliant Measured and Indicated Mineral Resources of the Rapasaari deposit, total 6.183 million tonnes at a cut-off grade of 0.50% Li₂O. A portion of Rapasaari Mineral Resources has been now classified for the first time into the Measured category showing that confidence level has increased. Including the Inferred Mineral Resource category, the Mineral Resources of the Rapasaari deposit amount to 8.214 million tonnes. The Li₂O grade of the Rapasaari Mineral Resources is 1.02 %.

The JORC 2012 compliant Measured and Indicated Mineral Resources of the Company now total 11.767 million tonnes at a cut-off grade of 0.50% Li₂O. Including the Inferred Mineral Resources, the Company's total Mineral Resources are 14.194 million tonnes. The Li₂O grade of the Company’s combined Mineral Resources is 1.08 %.

“We are pleased with the results we have received from Rapasaari. The Rapasaari Mineral Resource update is a good indication of the potential of Central Ostrobothnia's lithium province. We will continue exploration activities in the area and update the Rapasaari Ore Reserve estimate later this year,” said Pertti Lamberg, CEO.

The new Mineral Resource estimate for Rapasaari has been prepared and reported by Payne Geological Services Pty Ltd., an independent Australian consulting company. The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012).