Highlights of the Silver Mine Project

Location In the municipality of Sotkamo in eastern Finland, 475 kilometres from Helsinki
240 km from the harbour of Oulu
85 km from the airport of Kajaani
Geology Siliceous quartz porphyritic rocks interpreted as felsic volcanic rocks. Metamorphosed to felsic volcaniclastic rocks, including volcanic breccias; banded quartz-sericite-biotite schist and quartz-phyric crystal tuffs. kvar kidetuffia
Resource Area 530 hectares, mining concession and environmental permit process started in March 2009
Discovery 1980
Drilling Noin Approx. 56 000 metres surface and underground drilling

Resource Estimate for the Taivaljärvi Silver Mine Ag-Zn-Pb-Au Deposit as at 28/1/14
(in accordance with the Guidelines of the JORC Code [2004]) (50g/t Ageq COG Applied)

Mineral Resources and Ore Reserves Reports »

Earlier works

  • Extensive exploration and mine technical planning were already completed by the previous operators (Outokumpu Oy and Kajaani Oy)
  • Approximately 28 million Euros has been spent on project development
  • Underground mine access and ventilation shaft are completed
  • Total surface and underground drilling ca. 51 000 m
  • JORC-compliant mineral resource estimate completed
  • Resources could be significantly increased with an additional drilling programme
  • Environmental baseline study is completed
  • No environmental risks that would prevent or slow down the construction of the mine were found
  • Excellent infrastructure in the area (good road network and access to electricity)
  • Expected at the beginning of the year 2018, full production at the end of Q2 2018
  • Good quality concentrates attainable via standard flotation method
  • Production of 4 metals: Ag, Au, Zn and Pb provide additional security against metal price fluctuations

2010-2017  Works completed 

  • 20 kV power line, about 1 500 m and 45 kV power line, about 27 km, sold 2016
  • Dewatering, maintenance and  ventilation of the mine tunnel
  • Jorc -compliant mineral resource estimate completed in December 2014
  • Pilot processing test completed with excellent results; recovery of silver and                gold into silver- and zinc concentrates > 86%
  • Mining Concession process completed, license granted in 2011
  • Capex, Opex, cash-flow and NPV-calculations were completed in 2007-2008, updated 2016
  • Surface and underground drilling, in 2010 11 holes and in 2013 54 holes in 2011, totalling to 6200  meters, in 2013 28 holes, 3 200 meters. Total amount of drilling 58 500 meter
  • Increased quantity and improved quality of mineral resources
  • Bankable Feasibility Study updated 2016
  • Environmental permit received
  • Environmental, Health and Safety and Limited Social Review - Equator Principles Assessment
  • Detailed technical mine and processing plans
  • Granted building permits for concentrating plant, office, laboratory and maintenance buildings at Silver Mine area
  • The environmental permit became legally valid
  • The acquisition of 427 hectares land at the Silver Mine was completed
  • High silver- and gold values were encountered in drilling at the deep extension of the Silvermine deposit
  • The Blaiken concentration plant was acquired

To be completed

  • Financing