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Ore Reserves of Keliber’s Largest Lithium Deposit Increased by 55 Percent

Keliber’s ore reserves estimate has been updated, with an effective date of 31 August 2021. The update is based on the revised mineral resource estimate, published in May 2021. The company’s total proved and probable ore reserves have increased from 9.37 to 12.30 million tonnes, representing growth of 32 percent. The estimated ore reserves of the company’s largest lithium deposit, Rapasaari, have increased by 55 percent as compared to the previous estimate, which was published in December 2019.

The estimated proved and probable ore reserves at the Rapasaari deposit now total 8.21 (2019: 5.28) million tonnes at an average lithium oxide (Li2O) grade of 0.89 (2019: 0.94)%. Keliber’s total proved and probable ore reserves now total 12.30 (2019: 9.37) million tonnes at an average grade of 0.94 (2019: 0.98)% Li2O. The Rapasaari deposit represents 67 (56)% of Keliber’s total ore reserves.

“In May, we reported on the significant growth of the mineral resources of the Rapasaari lithium deposit, which raised expectations for excellent numbers regarding the ore reserves. The increase of more than 50% at Rapasaari will extend the life of Keliber's planned mining operations by more than two years. By continuing our exploration activities and systematic drilling programme, we will ensure Keliber's position as a lithium hydroxide producer well into the future,” comments Hannu Hautala, the company's CEO.

The tables below summarize the revised ore reserve estimate for the Rapasaari lithium deposit as well as for all the company's other lithium deposits.

Estimated Ore Reserves at Rapasaari (JORC 2012), 31 August 2021

Open Pit

Mt

Grade Li₂O %

Cut-off Li₂O %

Proved

2.140

0.98

0.40

Probable

4.870

0.87

0.40

Total Open Pit Ore Reserves

7.010

0.90

0.40

       

Underground

Mt

Li₂O %

Cut-off

Proved

0.280

0.91

0.45

Probable

0.920

0.77

0.45

Total Underground Ore Reserves

1.200

0.80

0.45

 

Mt

Li₂O %

Cut-off

Total Ore Reserves

8.210

0.89

0.41

 

The Rapasaari estimate includes both open pit and underground ore reserves. A cut-off grade of 0.40% Li2O has been applied for the open pit ore reserves and 0.45% Li2O for the underground ore reserves.

Keliber’s Total Ore Reserves Estimates (JORC 2012), 31 August 2021

 

Syväjärvi

Rapasaari

Länttä

Outovesi

Emmes

Total

Open Pit

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Proved

1.433

1.18

2.140

0.98

0.168

1.09

       

3.741

1.06

Probable

0.491

0.97

4.870

0.87

0.096

0.93

0.222

1.06

   

5.679

0.89

Total Open Pit Ore Reserves

1.924

1.13

7.010

0.90

0.263

1.03

0.222

1.06

   

9.419

0.96

Underground

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

GradeLi₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Proved

   

0.280

0.91

0.243

0.83

       

0.523

0.87

Probable

   

0.920

0.77

0.583

0.85

   

0.856

1.01

2.359

0.88

Total Underground Ore Reserves

   

1.200

0.80

0.826

0.85

   

0.856

1.01

2.882

0.88

Total Ore Reserves

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

Mt

Grade Li₂O%

 Mt

Grade Li₂O%

Proved

1.433

1.18

2.420

0.97

0.411

0.94

       

4.264

1.04

Probable

0.491

0.97

5.790

0.85

0.679

0.86

0.222

1.06

0.856

1.01

8.038

0.88

Total Ore Reserves

1.924

1.13

8.210

0.89

1.090

0.89

0.222

1.06

0.856

1.01

12.302

0.94

Figures might not perfectly add up due to rounding.

Keliber’s total proved and probable ore reserves are 12.30 (9.37) million tonnes at an average grade of 0.94 (0.98)% Li₂O, using a cut-off grade of 0.40% Li2O for the open pit ore reserves and a cut-off grade of 0.40–0.70% Li2O for the underground ore reserves.

Source: https://www.keliber.fi/en/

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