Kuniko (ASX:KNI) confirms conductors at Skuterud ahead of drilling

• Kuniko (KNI) confirms two conductors at its Skuterud cobalt project in Norway
• A downhole geophysical survey was recently completed which targeted historical drill holes surrounding the Middagshvile target
• Kuniko is using the data found to support an upcoming maiden drilling program set to begin on May 2
• Drilling will include seven holes over three prospective targets, aligning with Kuniko’s goal of developing the Skuterud project into a domestic cobalt supplier in Europe
• Kuniko shares are down 21.9 per cent on market close, trading at $1.39 each

Kuniko (KNI) has received results from geophysical survey work at its Skuterud cobalt project in Norway.

The company engaged specialist consultancy firm, GeoVista AB, to complete a downhole geophysical survey to target historical drill holes surrounding the Middagshvile target.

GeoVista then collated and interpreted the data which led to confirming the presence of two conductors.

Using the data from the survey work, Kuniko will begin a maiden diamond drilling program on May 2.

Specifically, drilling will test three highly prospective targets including two cobalt-copper mineralisation targets.

“With drilling set to launch in the next weeks, these latest borehole geophysics results provide further signs of the potential and opportunity at the Skuterud cobalt project,” CEO Antony Beckmand said.

Last month, Kuniko was granted a permit to conduct the upcoming drilling program which will include seven holes, for 2800 metres.

The company is focused on rapidly developing the Skuterud project to meet Europe’s growing demand for domestically-supplied cobalt.

Kuniko shares were down 21.9 per cent to trade at $1.39 on market close.