Resource Mining Corporation Ltd (ASX:RMI) has been granted the highly prospective Köyhäjoki exploration permit which covers 2,128.8 hectares and comprises the central part of the Kola Lithium Project in Finland.
The Köyhäjoki Permit has been granted by Tukes, the Finnish Safety and Chemicals Agency, to the company’s Finnish subsidiary, is valid for four years and is renewable to a maximum of 15 years.
There were no objections received during the consultation period for the permit, which covers the area in which high-grade lithium pegmatite boulder trains have recently been identified with the following assay results:
- 52 out of 68 boulder samples contained more than 1.0% Li2O;
- 27 samples contained more than 2% Li2O; and
- The highest assay value was 5.26% Li2O.
Drilling in the Köyhäjoki Permit area is now being planned and the company aims to begin drilling in the Köyhäjoki Permit area as soon as drill rigs become available.
"Extremely prospective"
Resource Mining Corporation’s executive chairman Asimwe Kabunga said: “We are very pleased to receive the Köyhäjoki Exploration Permit, which covers the area within the Kola project where we discovered the continuous presence of high-grade lithium containing pegmatite boulders along the same trend that hosts the under development Keliber Project.
"We are excited to continue our exploration work within this extremely prospective exploration permit, with the intention to start an extensive drilling program as soon as drill rigs become available.”
Kola project’s exploration permits, application areas, sample locations and sample assay results.
Adjacent to Keliber
A lithium hydroxide refinery at Kokkola, Finland, is under construction by Sibanye-Stillwater for its Keliber Lithium Project, which has spare capacity and is around 60 kilometres from RMC’s Kola Lithium Project.
Keliber has a resource of 17 million tonnes at 1.02% Li2O, inclusive of open pit reserves of 12.7 million tonnes at 0.92% Li2O.
Location of RMC relative to Keliber and Kokkola.
Upcoming drilling
RMC’s upcoming drill program will include an extensive bottom of till/top of bedrock drill program to target the source rocks of the high-grade boulder trains identified during exploration conducted and reported by the RMC team.
Meanwhile, RMC expects to get boots back on the ground at Kola as soon as weather conditions allow with fieldwork in the recently approved Neverbacka reservation area, directly north of the Köyhäjoki Permit.
RMC is encouraged by the award of the exploration permit at Köyhäjoki and anticipates the exploration permit for Pikkukallio, which covers the western part of the Kola project, to be awarded in the second quarter of 2024.
The company notes the Finnish Government’s commitment to the exploration of critical minerals in its country and this provides encouragement to the RMC team of receiving support for the company’s exploration and development activities going forward.