The mineral reserve and ore reserve estimates for Keliber’s Syväjärvi lithium deposit have been updated. Estimated proven and probable ore reserves total 1.924 million tonnes, which is about 10 percent more than previously estimated.
After the publication of the previous Syväjärvi mineral resource estimate in May 2018, the company has continued its drilling program and drilled a total of 8397 meters in the Syväjärvi area. The estimated mineral resources of the Syväjärvi deposit have increased. The JORC 2012 compliant measured and indicated mineral resources of the Syväjärvi deposit, total 2.710 million tonnes at a cut-off grade of 0.50% Li₂O. Including the inferred mineral resources category, the mineral resources of the Syväjärvi deposit amount to 2.830 million tonnes. The Li₂O grade of the Syväjärvi mineral resources is 1.20 %.
Based on the results of the drillings and the technical and financial estimates included in the updated definitive feasibility study for the lithium project published in February 2019, a new ore reserve estimate has been prepared in accordance with the JORC code (2012). The proven and probable ore reserves of the Syväjärvi deposit, using a 0.40% Li₂O cut-off grade for the open pit reserves, are 1.924 million tonnes with a grade of 1.13 % Li₂O. In addition to the approximately 10 per cent increase in the ore reserves of the Syväjärvi deposit, the category of proven ore reserves has increased from the previous 0.735 million tonnes to 1.433 million tonnes.
The tables below summarize the prepared new ore reserve and mineral resource estimates of the Syväjärvi lithium deposit.