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    SOSI   SE0001057910

SOTKAMO SILVER AB

(SOSI)
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SOTKAMO SILVER : REPORTS DIAMOND CORE DRILLING RESULTS OF THE FIRST PHASE OF THE P700 DRILLING PROGRAM OF THE SILVER MINE

10/21/2021 | 02:46am EST

Press release: Stockholm, October 21, 2021, 08:45 CET

Sotkamo Silver AB is pleased to announce the assay results of the underground diamond core drilling conducted earlier this year. A total of ca. 4 420 meters were drilled as the first phase of P700 drilling program. The drill holes intersect the extension of the ore body at the depth of 350 to 500 meters from surface. The second phase of P700 drilling program is ongoing.

The highlighted intercepts include:

  • T-56 intersected 42.05 meters at 128 g/t silver, 0.41 g/t gold, 0.22% lead and 0.44% zinc
  • T-64 intersected 15.60 meters at 139 g/t silver, 0.43 g/t gold, 0.25% lead and 0.82% zinc including 4.20 meters at 393 g/t silver, 1.16 g/t gold, 0.64% lead and 2.13% zinc
  • T-55 intersected 11.30 meters at 117 g/t silver, 0.26 g/t gold, 0.18% lead and 0.20% zinc
  • T-48 intersected 9.95 meters at 140 g/t silver, 0.24 g/t gold, 0.36% lead and 0.99% zinc
  • T-54 intersected 7.10 meters at 664 g/t silver, 1.11 g/t gold, 0.17% lead and 0.25% zinc
  • T-60 intersected 6.55 meters at 224 g/t silver, 0.49 g/t gold, 0.19% lead and 0.24% zinc
  • T-50 intersected 6.45 meters at 301 g/t silver, 0.60 g/t gold, 0.37% lead and 0.56% zinc, 4.70 meters at 385 g/t silver, 1.63 g/t gold, 0.82% lead and 1.63% zinc, and 3.20 meters at 246 g/t silver, 0.65 g/t gold, 0.51% lead and 0.54% zinc
  • T-57 intersected 3.90 meters at 271 g/t silver, 0.36 g/t gold, 0.16% lead and 0.41% zinc

The results are encouraging and support the further development of the Silver Mine and the P700 project to prolong the life of mine. Results will be utilized in the update of the Mineral Resource and Ore Reserve Estimates during the coming months.  

The drilling was supervised, and the drill core was logged by the Sotkamo Silver personnel. Core size was BQTK resulting 40.7 mm diameter core sample. Standard industry Quality Assurance and Quality Control (QA/QC) procedures with standards, blanks and duplicates have been followed in the sampling and assaying. Drill hole locations and start azimuths have been surveyed and downhole survey of bearing and dip deviations have been performed.

Significant intercepts of mineralized material are presented in the attached table and highlighted in a long section.

Stockholm, October 21, 2021

Sotkamo Silver AB

Erkki Kuronen, CEO
 

Contact person

Erkki Kuronen, CEO, tel. +358 50 599 3539

 

This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above on October 21, 2021, at 08:45 CET.

The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.

 

About Sotkamo Silver AB

Sotkamo Silver's business concept is to develop mineral deposits with regards to human society and environment. The Company owns the Silver Mine in Sotkamo which started production in March 2019. In addition, the Company holds mining and exploration rights to precious and base metal deposits in Finland.

Sotkamo Silver applies SveMin's & FinnMin's own rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to publish mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101 code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.

The ticker symbol is SOSI on NGM Main Regulated Equity in Stockholm and SOSI1 on Nasdaq Helsinki.

ISIN-code for Sotkamo Silver shares is SE0001057910.

Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93

Read more about Sotkamo Silver on www.silver.fi

The Company's press releases, and financial reports are distributed via Cision Sverige and are available on www.silver.fi

 

https://news.cision.com/sotkamo-silver/r/sotkamo-silver-ab-reports-diamond-core-drilling-results-of-the-first-phase-of-the-p700-drilling-prog,c3437021

https://mb.cision.com/Main/15292/3437021/1483774.pdf

https://mb.cision.com/Public/15292/3437021/baa9819608570ecf.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 387 M 42,6 M 42,6 M
Net income 2021 -14,7 M -1,62 M -1,62 M
Net Debt 2021 220 M 24,2 M 24,2 M
P/E ratio 2021 -24,1x
Yield 2021 -
Capitalization 339 M 37,5 M 37,3 M
EV / Sales 2021 1,44x
EV / Sales 2022 1,29x
Nbr of Employees 52
Free-Float 86,1%
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Mean consensus UNDERPERFORM
Number of Analysts 1
Last Close Price 1,69 SEK
Average target price 2,10 SEK
Spread / Average Target 24,3%
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Managers and Directors
Erkki Kuronen Chief Executive Officer
Mikko Sopanen Chief Financial Officer
Eeva-Liisa Virkkunen Chairman
Jarmo Vesanto Independent Director
Ilkka Tuokko Director
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