Tulikivi mineral resources in Suomussalmi increase by 10 million tonnes

TULIKIVI CORPORATION STOCK EXCHANGE RELEASE 3 OCTOBER 2022 AT 10.00 AM
Tulikivi mineral resources in Suomussalmi increase by 10 million tonnes
Tulikivi has carried out additional drilling and surveys 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 content is 44.4 per cent. The update of the mineral resources takes into account the results from the new drilling, the test pits made for extracting samples for beneficiation tests and the analyses carried out on these. The new drill holes penetrate adjoining rock and the deep extension of the ore contacts and confirm that the deposit extends deeper than previously estimated. Based on the samples, the sulphur content of the adjoining rock in the deposit is very low, which significantly reduces the environmental impact of mining operations. The rock mechanical properties were also determined from the samples. The information will be used for risk management in the quarrying plan.

The 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 in excess of 10 million tonnes. Beneficiation tests carried out by GTK show that the 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 the Competent Persons.

"The modelling demonstrates that the Haaponen talc deposit is of very uniform quality and has a clear shape. Together with the significantly larger mineral resource, this forms a strong foundation for developing the deposit for responsible and energy and cost-efficient use. I'm very pleased with the good work that has been done. We are in a good position to proceed," says Erkki Kuronen, who will soon start as Managing Director of Nordic Talc.

It is too early to evaluate 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
Distribution: Nasdaq Helsinki 
Key media 
www.tulikivi.com

Erkki Kuronen appointed Managing Director of Nordic Talc Oy

Erkki Kuronen has been appointed Managing Director of Nordic Talc Oy, a part of the Tulikivi Group. Kuronen comes to Nordic Talc from Sotkamo Silver AB, where he has been Group CEO. He has been employed at Sotkamo Silver since 2016. Previously, he worked for Mondo Minerals Group as Geology and Mining Manager and in other positions as of 1996.

The objective of Nordic Talc Oy is the industrial exploitation of Tulikivi’s talc reserves in the Suomussalmi mining district. Nordic Talc Oy is currently preparing a feasibility study of the Suomussalmi talc project, the purpose of which is to further specify the project's profitability, environmental and mining plans for industrial operations and the environmental impact assessment (EIA).

“I am very pleased to announce Erkki Kuronen's appointment as Managing Director of Nordic Talc Oy. Erkki has 20 years of experience in talc deposits and operations at Mondo Mineral and valuable experience from the start-up of the Sotkamo Silver mine and its production operations,” says Heikki Vauhkonen, Managing Director of Tulikivi Corporation.
Erkki Kuronen: “I am thankful to Tulikivi’s Board for its trust and very pleased about the opportunity to take the lead at Nordic Talc. I am eager to promote the development of the talc reserves in Suomussalmi into responsible and successful industrial exploitation. Talc is part of our everyday life, and used in plastics, paints and new bio-based packaging, for example.”

Nordic Talc pilot testing to be done at Outotec Research
Center in Pori

The laboratory test work is carried out to determine preliminary
engineering parameters before the final beneficiation production plant design, material balances, CAPEX and OPEX estimation, process flow sheet and layout.

The mineralogy of the sample will be analyzed, basic grinding, flotation and dewatering tests will be conducted. After completing all the tests and receiving the required data areport and preliminary process flowsheets will be prepared.

The test are conducted in Outotec Research Center Pori, Finland.The process know how from mine to metal is supported at the research center by 170 experts working in the 10 different laboratories and pilot facilities.

As the global leader in minerals and metals processing technology,
Outotec has developed over decades many breakthrough technologies.

The project is expected to completed within six months and is supported by EU funds.

Erkki Kuronen, M.Sc. (Geology) joins Nordic Talc´s Advisory Board

Erkkki has over 25 years experience in minerals- and mining industry and exploration. Currently he is CEO of Sotkamo Silver AB since 2020, managing director of Sotkamo Silver Oy since 2019, various positions including mining manager and COO since 2016. 
Earlier in his career he worked as Mondo Minerals Group Geology and Mining Manager (2011-2016), various positions since 1996 in Mondo Minerals.



Kati Oy started side rock drilling at the Haaponen deposit 3.5.2021.

The drilling results are used to determine the rock mechanical and mineralogical properties of the side rock. Drill core studies and analyzes are performed by WSP Finland Oy / Golder. The information will also be used in connection with the EIA procedure when planning the side rock waste area. In addition, the existing drilling will be utilized in the mining plan and quarry optimization.
The drilling will be concluded in about two weeks.

Further information: mikael.von.hertzen@nordictalc.fi and anssi.grohn@nordictalc.fi

NORDIC TALC, A TULIKIVI CORPORATION SUBSIDIARY, TO INITIATE AN EIA PROCEDURE FOR THE TALC PROJECT IN SUOMUSSALMI 19 Jan 2021


TULIKIVI CORPORATION
OTHER INFORMATION TO BE PUBLISHED PURSUANT TO THE RULES OF THE STOCK EXCHANGE 19 JANUARY 2021 AT 09.30 AM
NORDIC TALC, A TULIKIVI CORPORATION SUBSIDIARY, TO INITIATE AN EIA PROCEDURE FOR THE TALC PROJECT IN SUOMUSSALMI

As part of the feasibility study for the talc project in Suomussalmi, Tulikivi Corporation’s subsidiary Nordic Talc Oy has decided to initiate an environmental impact assessment procedure (EIA procedure). The procedure will assess the environmental impact of the quarry and talc enrichment plant planned for the site. The planned surface mine is located in the Haaponen deposit, which is a part of Tulikivi’s mining district in Suomussalmi. The planned capacity of the enrichment plant is approximately 125 000 tonnes of talc per year. The EIA procedure will be carried out with Afry Finland Oy and will commence in January 2021.

The objective of the Tulikivi Corporation subsidiary Nordic Talc Oy is the industrial exploitation of Tulikivi’s talc deposits in the Suomussalmi mining district. The Suomussalmi talc project's profitability, environmental and mining plans will be further specified for industrial operations in a feasibility study.

It is too early to evaluate 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, heikki.vauhkonen@tulikivi.fi
Distribution: NASDAQ OMX Helsinki Ltd, key media, www.tulikivi.com

Tulikivi Corporation establishes Nordic Talc Oy 27.03.2020

On 26 March 2020, the Board of Directors of Tulikivi Corporation decided to establish Nordic Talc Oy. The company's objective is the industrial exploitation of Tulikivi’s talc deposits in the Suomussalmi mining district. In the first stage, the objective is to plan and implement a feasibility study of the Suomussalmi talc project, the purpose of which is to specify the project's economic viability, environmental and mining plans for industrial operations. At the same time, Tulikivi is exploring opportunities to attract outside financing and investors to start and develop Nordic Talc's operations for industrial exploitation.

The Board of Directors of Tulikivi Corporation has appointed an advisory board of professionals in the field of industrial minerals and mining. It includes Jan Ekblom, Mikael von Hertzen, Eeva Ruokonen and Tarmo Tuominen.

Heikki Vauhkonen, Managing Director: “The JORC-compliant mineral deposit estimate completed in autumn 2019 confirmed that the talc deposit in the Suomussalmi mining district is significant on a European scale. Based on the surveys, we believe it can be profitably utilised. The newly established company will be responsible for the planning of a commercial product portfolio and of logistics and industrial processes. We are very pleased to have a knowledgeable and experienced advisory board in the project.”    

TULIKIVI CORPORATION

Heikki Vauhkonen    
Managing Director

 

For additional information, contact:
- Tulikivi Corporation, FI-83900 Juuka, Finland, tel. +358 403 063 100, www.tulikivi.com
- Managing Director Heikki Vauhkonen

 

Distribution: NASDAQ Helsinki, central media