Join our daily newsletter At The Bell to receive exclusive market insights
- The Ministry of Trade and Fisheries of Norway grants Kingsrose Mining (ASX:KRM) permission to start drilling at the Karenhaugen prospect within its Porsanger project
- The project holds potential for ultramafic-hosted massive sulphide nickel-copper-PGE mineralisation
- Historical drilling at Porsvann and Karenhaugen revealed promising intersections, prompting a fixed-loop electromagnetic survey
- Kingsrose plans to commence drilling in December 2024 after a comprehensive consultation process with local stakeholders
- Kingrose Mining is trading at 4.2 cents
Kingsrose Mining (ASX:KRM) has secured approval from the Ministry of Trade and Fisheries of Norway to begin drilling at the Karenhaugen prospect within its Porsanger project.
But what’s interesting, the approved drilling program comes with specific conditions: a drilling period between December 1 and February 15, ongoing risk assessments during drilling, and the presence of two members from the reindeer herding district 14A during operations.
Kingsrose’s application for a drilling permit was initially submitted in April 2022. The Ministry processed it after appeals raised by the local reindeer herding district and Sami Parliament.
Residing in Finnmark County, the project sits at the northern end of two converging greenstone belts: the Karasjok and the Kautokeino Belts.
Stretching roughly 100 kilometres each, these belts are considered prospective for ultramafic-hosted massive sulphide nickel-copper-PGE mineralisation.
Kingsrose acquired exploration licenses through participation in the BHP Xplor program, targeting early-stage exploration in the region.
The Porsanger project encompasses several ultramafic intrusions, including Porsvann and Karenhaugen.
Historical drilling at Porsvann returned intersections of up to 43.2 metres at 0.9 grams per tonne palladium, 0.4 grams per tonne platinum, and 0.1 per cent copper, while Karenhaugen exhibited similar mineralisation patterns.
A fixed-loop electromagnetic survey conducted by Kingsrose indicated a strong conductor down dip of the Karenhaugen intrusion, potentially representing massive sulphide nickel-copper-PGE mineralisation.
Kingrose Mining last traded at 4.2 cents.
