The mining company Eurobattery Minerals AB just received its independent NI 43-101 technical report for the Spanish Ni-Co-Cu project Corcel. Considering a
Nickel grade of 0.23% of the Castriz deposit only, Eurobattery Minerals can produce minerals for a few million car batteries with a capacity of 60 kWh in the future.
KEY INFORMATION AND FINDINGS
* The independent technical report has been set up in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) guidelines and the regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”)
* The report indicates that the Corcel project contains a large Ni Deposit. Only with the mineral evaluation of Castriz zone indicated in the technical report (i.e. about 5.6 million tons of rock with a 0.23% Ni grade), EBM would be able to manufacture 500,000 car batteries with a capacity of 60 kWh. Everything indicates that EBM is dealing with a large Ni deposit, which could easily reach 60 million tons with 0.25 % Ni
* With the underlying mineral evaluation carried out in 2021, the report is covering results from the Castriz prospect zone, on the so-called “West Anomaly” area, defined in 2019, which is one of three primary prospect zones in the Corcel project that also includes Monte Mayor and Monte Castello
“We are very happy that we were finally able to finalize and publish the report. With the report in hand we can now concretely predict that with only one tenth of the entire volume of the Corcel deposit we will be able to mine nickel for about half a million car batteries,” said Roberto García Martínez, CEO of Eurobattery Minerals AB.
ABOUT THE TECHNICAL REPORT
The report has been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as well as with the CIM Definition Standards for Mineral Resources and Mineral Reserves adopted by the CIM Council in May 2014, and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines prepared by the CIM MRMR Committee in November 2019.
Firstly, a compilation of all historical data and data from the 2019 and 2021 campaigns was carried out and a visit was made to the work area to verify the work procedures. According to the Technical Report, the work procedures comply with the established standards and requirements and the high competence of the technical staff of Corcel Minerals stands out.
With the data collected, a mineral resource model of the Castriz area
has been developed by means of a three-dimensional Block Model using
Datamine Studio RM software, with a block size of 125 cubic metres.
Once the mineralised zone was modelled, a mineral evaluations was made
for different Ni grades.
According to the tonnage-grade table for different Ni grades included in
the technical report and the graph represented in figure 2 (see
appendix), it can be said that only with the drilling campaign carried
out during the year 2021 (which is the area evaluated in the technical
report), in the Corcel project, have been evaluated: 5,595,580 tons with
0.23% Ni grade (Ni grade 0.16%).
As indicated in the technical report, the current target area is small
but open with good potential to define additional Ni resources. Several
of the nickel geochemical anomalies have not been tested and additional
mineral resources may be added in these areas.