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- Kuniko (KNI) has received approval from the Norwegian directorate of mining to undertake its drilling program at its Skuterud cobalt project in Norway
- The company has planned a seven-hole drilling program to test three prospective targets, two of which are confident cobalt copper mineralisation targets
- Drilling will commence in the first week of May with Norse Diamond Drilling, who is also conducting a preparatory site inspection this month
- The company believes demand for copper concentrate will accelerate as Europe phases out Russian Energy supply
- Shares have ended the day 1.54 per cent higher at 66 cents each
Kuniko (KNI) has received approval from the Norwegian directorate of mining to undertake a drilling program at its Skuterud cobalt project in Norway.
The company has planned a seven-hole drilling program, for 2800 metres, to test three prospective targets, two of which are confident cobalt copper mineralisation targets.
Drilling will commence in the first week of May with Norse Diamond Drilling, who is also conducting a preparatory site inspection this month.
Preparations for sampling across four project sites are proceeding steadily.
Chief Executive Officer Antony Beckmand believes the demand for copper concentrate will accelerate as Europe phases out Russian energy supply.
“There are already a number of cobalt refineries in Scandinavia, but they will need a
domestic supply of cobalt concentrate,” he said.
“Kuniko has an enormous opportunity with the Skuterud cobalt project in Norway, and
we are delighted to have had a rapid positive response to our drilling permit application
from the Norwegian Directorate of Mining.
“We have three strong targets and plan to develop this important project as fast as possible to help meet Europe’s growing need for a domestic supply of cobalt.”
Shares were trading 1.54 per cent higher today at 66 cents each at market close.
