Tulikivi mineral resources in Suomussalmi increase by 10

PRESS RELEASE OF THE TULIKIVI CORPORATION STOCK EXCHANGE ON OCTOBER 3, 2022 AT 10:00 AM

Tulikivi mineral resources at Suomussalmi increase by 10 million tonnes

Tulikivi has completed additional drilling and surveying and updated the JORC Mineral Resource estimate for the Haaponen talc deposit in the mining district of its Suomussalmi plant.

According to the report, the indicated mineral resources of the Haaponen deposit are 22.3 million tonnes and their average talc grade is 44.4%. The update of the mineral resources takes into account the results of the new drillings, the drillings carried out for the extraction of the samples for the enrichment tests and the analyzes carried out on these. The new drill holes penetrate the adjacent rock and deep extension of the ore contacts and confirm that the deposit extends deeper than previously estimated. According to the samples, the sulfur content of the rock adjacent to the deposit is very low, which considerably reduces the environmental impact of mining operations. The mechanical properties of the rock were also determined from the samples. The information will be used for risk management in the quarry exploitation plan.

Mineral resources were previously estimated at 12.3 million tonnes. According to the Geological Survey of Finland (GTK), the Kivikangas, Sivusuvanto and Kivisuvanto deposits, which are located in the same mining district, have a total mineral resource potential of over 10 million tonnes. Fortification tests conducted by GTK show that talc is suitable for most commercial products.

The Mineral Resource estimate was prepared by Markku Meriläinen, MAusIMM JORC (2012), and Pekka Loven, MAusIMM (CP) JORC (2012), as competent persons.

“The modeling demonstrates that the Haaponen talc deposit is very uniform in quality and has a clear shape. Together with the much larger mineral resource, this forms a solid basis to develop the deposit for responsible, energetic and profitable use. I am very satisfied with the good work that has been done. We are in a good position to continue,” says Erkki Kuronen, who will soon take over as Managing Director of Nordic Talc.

It is too early to assess whether the project will be carried out or to estimate its financial impacts.

TULIKIVI CORPORATION
board of directors

Further information: Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555

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