EQS-News: SunMirror AG: LATITUDE 66 ANNOUNCES HIGH-GRADE COBALT INTERCEPTED AT K9 TARGET
EQS-News: SunMirror AG / Key word(s): Drilling Result
SunMirror AG: LATITUDE 66 ANNOUNCES HIGH-GRADE COBALT INTERCEPTED AT K9
TARGET
06.12.2021 / 08:41
The issuer is solely responsible for the content of this announcement.
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LATITUDE 66 ANNOUNCES HIGH-GRADE COBALT INTERCEPTED AT K9 TARGET
Zug, Switzerland; 06 December 2021 – SunMirror AG („SunMirror“; Vienna
Stock Exchange: ROR1; Frankfurt Stock Exchange: ROR; Düsseldorf Stock
Exchange: ROR; ISIN CH0396131929), is pleased to advise that Latitude 66
Cobalt Limited („Lat66“), which is in the process of being acquired by
SunMirror, today announced the discovery of a new high-grade cobalt zone
at its 100%-owned Kuusamo Schist Belt Cobalt-Gold-Copper Project in
Finland. This new high-grade discovery is located approximately 23
kilometres south-west of the existing K1 resource zone.
The intercept returned from the diamond drill hole (51.7 metres @ 0.44%
Co, 0.24 g/t Au, 0.07% Cu from 123.2 metres) is thick, relatively shallow
and inclusive of an exceptionally high-grade zone (8.3 metres @ 1.02% Co).
This new prospect remains open in all directions.
Thomas Hoyer, CEO of Lat66, stated: „This is a very significant initial
result, testing one of three known geophysical anomalies in the area. We
will commence down hole electromagnetics to gain a better understanding of
the local prospectivity and establish high potential drill targets with
the aim of expanding this intersection and to test the other two
anomalies.
Mr Hoyer added „The Finnish Geological Survey has previously performed
extensive scientific research in the region targeting battery minerals and
this additional high-grade intersection, 23 kilometres south west our
existing K1 resource, underpins our belief that the Kuusamo Schist Belt
hosts a series of high-grade cobalt zones.“
Dr Heinz Kubli, CEO of SunMirror, stated that: „This high-grade intercept
and discovery of a new mineralized zone, reinforces our view that Latitude
66, which holds 9400 square kilometres of exploration permits in Finland
and an existing cobalt resource, has the potential to be a significant
part of the sustainable and ethical supply of critical raw materials for
the EU as part of the green transition.“
In June 2021, The International Energy Agency published a report
estimating that in order to achieve the goals agreed at the Paris Climate
Agreement, the demand for Cobalt will grow 21 times by the year 2040. Such
unprecedented growth in demand will require substantial volumes of
material originating from new mines. Finland today has 3 cobalt refineries
and is the second largest refiner of Cobalt after China. Additional
sources of supply of cobalt from within Finland feeding this Cobalt
refining capability, together with available renewable energy to drive the
mining and refining process, will help to enable the EU to have a secure
domestic sustainable and ethical supply of low carbon footprint cobalt.
The detailed exploration update is available for download on the sunmirror
website ([1]www.sunmirror.com).
About SunMirror AG
The SunMirror Group invests into pre-production mineral exploration assets
with a focus on battery metals, iron ore and gold deposits in developed
markets for the purpose of evaluation and exploration with the aim to
either produce minerals at a later stage or sell those properties. The
company’s shares (ISIN CH0396131929) are listed on the Vienna Stock
Exchange (ticker: ROR1) and the Düsseldorf and Frankfurt Stock Exchange.
For further information, please visit: www.sunmirror.com.
Press contact
edicto GmbH
Doron Kaufmann/Ralf Droz
Phone: +49 69 905505-53
[2]sunmirror@edicto.de
Eschersheimer Landstraße 42 – 44
60322 Frankfurt/Main
Germany
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06.12.2021 This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: SunMirror AG
Steinhauserstrasse 74
6300 Zug
Switzerland
E-mail: info@sunmirror.ch
Internet: https://www.sunmirror.ch
ISIN: CH0396131929
WKN: A2JCKK
Listed: Regulated Unofficial Market in Berlin, Dusseldorf; Vienna
Stock Exchange (Official Market)
EQS News ID: 1254308
End of News EQS News Service
1254308 06.12.2021
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2. sunmirror@edicto.de
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