POSITIVE TEST RESULTS ON THE TALC CONTENT, YIELD AND BRIGHTNESS OF THE TULIKIVI TALC DEPOSIT IN SUOMUSSALMI. FURTHER TESTS NEEDED TO DETERMINE SUITABILITY FOR COMMERCIAL EXTRACTION
Stock Exchange Release June 13, 2017 at 15.00
Tulikivi Corporation announced on 20 April 2017 that it has decided to investigate opportunities to exploit talc deposits in Suomussalmi. Tulikivi Corporation’s soapstone deposit in Suomussalmi has talc deposits that are believed to be suitable for talc production.
Since the announcement, Tulikivi Corporation has collaborated with the Geological Survey of Finland to analyse the suitability of its talc deposits in Suomussalmi for the production of commercial products.
According to a sample analysis carried out by the Geological Survey, the talc types in the deposit correspond to earlier talc projects conducted in Finland in terms of talc content, yield and brightness. Further studies are needed to assess the Suomussalmi deposit’s suitability for commercial use and to identify suitable production processes.
Based on earlier drilling tests that Tulikivi carried out for the purpose of soapstone production and the new test results, Tulikivi estimates that there are approximately 20 million tonnes of talc ore in Suomussalmi. As part of the further studies, the company is planning to drill deeper, which may lead to the discovery that the deposit is yet larger.
A preliminary profitability assessment will be carried out next to determine the suitability of the deposit for commercial extraction. The company will explore the possibility of continuing the project with a potential partner.
The size and quality of the mineral deposit have not been assessed by an external specialist in accordance with the international JORC Code used in the classification of mineral deposits and reserves. At the present stage, there are no guarantees that the Suomussalmi talc deposit will be suitable for commercial extraction in the future. It is also possible that Tulikivi will be unable to find a party that would be willing to finance commercial extraction of the talc either alone or together with Tulikivi.
Board of Directors
Additional information: Managing Director Heikki Vauhkonen tel. 0207 636 555
Distribution: Nasdaq Helsinki, Key media