Print

Hautalampi

The Hautalampi Project tenements cover the historic Keretti mine just outside the town of Outokumpu. The deposit is 1km long, 100-150m wide and up to 30m thick and the bulk of the deposit is situated between 70 and 120m below surface. There is potential to significantly increase the size of the Resource. The best drill intercept is 30.4m at 0.62% nickel. The deposit represents the deformed low-grade halo to the main Keretti deposit which produced 28Mt at 3.4% copper, 0.9% zinc, from 1913 to 1989.

An existing portal and 1,200m of decline have been sunk and the decline opening has been backfilled. 

Whilst the deposit is low grade it is close to the Luikonlahti mill and produces excellent concentrates; copper concentrate 25% copper, 10 g/t gold and a mixed concentrate of 8.0% nickel and 2.3% cobalt. Blending of Hautalampi ore feed with Kylylahti ore feed may improve payability of Kylylahti nickel-cobalt concentrates. Belvedere completed a feasibility study on mining at Hautalampi and concluded that pre-production capital costs would approximate €6.5m (A$10.5m), mobile equipment for mining would approximate €5m (A$8.1m) and operating costs were estimated to be €21.40/tonne (A$34.5/t).

Belvedere released a Proven and Probable Reserve Estimate of 2.2Mt at 0.38% nickel, 0.32% copper, 0.1% cobalt (see Appendix for details).


Cross Section of the Hautalampi and Keretti Deposits.  MOdified after Geomex 2006


Hautalampi Block Model Plan View Coloured by Resource Category: Blue = Measured, Green = Indicated and Red = Inferred.  Map grid is 40m x 40m.

Hole

From
(m)

Interval
(m)

Est True Width (m)

Ni
(%)

Cu
(%)

Co
(%)

S(%)

HL-9

109.80

21.90

20.00

0.47

0.18

0.09

2.00

HL-11

102.55

18.55

18.00

0.60

0.70

0.15

2.82

HL-29

98.50

24.20

24.20

0.53

0.25

0.12

2.54

HL-30

82.30

30.40

30.00

0.62

0.77

0.15

3.57

HL-31

71.25

21.45

21.00

0.49

0.96

0.14

2.84

Most Significant Drill Intercepts at Hautalampi

Altona Mining will consider subsequent to its update and review of the Kylylahti Definitive Feasibility Study the option of bringing Hautalampi into production at nickel prices in excess of US$8.50/lb and in year 2-3 of the Kylylahti operation.