- Kingsrose Mining (KRM) reports further high-grade platinum group elements (PGE)- nickel-copper results at its Penikat Project in Finland
- The company has released results of resampling from 19 historical drill holes, which has verified historical drill intercepts and improved understanding of the mineralisation
- These new results support previous high-grade intercepts from the SJ and PV reefs, with intersections at the latter comprising 2.6 metres at 11.5 grams per tonne (g/t) palladium equivalent from 33.5 metres
- Kingsrose said these results gives it confidence that the historical drill results are accurate
- Kingsrose is up 1.27 per cent and trading at 8 cents per share
Kingsrose Mining (KRM) has announced further high-grade platinum group elements (PGE)- nickel-copper results at its Penikat Project in Finland.
The company has released results of resampling from 19 historical drill holes. This resampling has verified historical drill intercepts and improved understanding of the mineralisation at Penikat.
These latest results confirm high-grade historical intercepts from the SJ and PV reefs and identified zones of mineralisation in holes which were historically reported as containing no significant mineralised intercepts.
At PV Reef, Kingsrose reported a strong repeat of historical high-grade intercepts, with significant nickel, copper and gold in addition to high PGE grades over two kilometres.
Intersections include 2.6 metres at 11.5 grams per tonne (g/t) palladium equivalent from 33.5 metres and 1.6 metres at 10.3g/t palladium equivalent from 9.9 metres.
While SJ Reef recorded thicker intercepts than the previous ones. This includes 3.7 metres at 3.6g/t palladium equivalent from 27.9 metres, including 0.5 metres at 8.5g/t palladium equivalent from 29.9 metres.
“These results have consistently returned outstanding PGE grades along with significant nickel, copper and gold over good widths, and give us confidence in the accuracy of historical drill results,” Managing Director Fabian Baker said.
“We have the benefit of historical assay data from 95 drill holes and detailed surface sampling distributed along approximately 10 kilometres of the 25-kilometre mapped strike length of mineralised reefs on our ground.
“The combination of this data, and consistent nature of layered intrusion type deposits, gives Kingsrose great encouragement as to the large-scale potential of Penikat.”
On the market, Kingsrose was up 1.27 per cent and is trading at 8 cents per share at 12:15 pm AEDT.