- Kuniko (KNI) says its first geochemical soil sample assays from the Skuterud cobalt project in Norway have provided encouraging results
- Geochemical soil sample assays returned encouraging vectors towards the target Fahlband zone, particularly around the Middagshvile historical mine
- 3D investigation of electromagnetic inversion data also identified a significant conductor below the historic Middagshvile mine
- Kuniko says this result has provided it with new drilling targets for 2022, with assays from soil sampling still pending
- Kuniko shares are down 1.22 per cent and trading at $1.21
Kuniko (KNI) has announced its first geochemical soil sample assays from the Skuterud cobalt project in Norway have provided encouraging results.
The Skuterud Cobalt Project is made up of 10 exploration licenses over an area of just over 52 square kilometres, located in central-southern Norway.
The company said the geochemical soil sample assays provided encouraging vectors towards the target Fahlband zone, particularly around the Middagshvile historical mine.
3D investigation of electromagnetic inversion data also identified a significant conductor below the historic Middagshvile mine. The new data showed previous drilling at Middagshvile from 2017 did not penetrate deep enough to test the conductor.
Kuniko said this result has presented the company with new drilling targets for 2022.
“The assay results at our Skuterud cobalt project offer further support that the anomaly identified by our geophysics program is on point, putting us in a prime position to firm up a drilling program for next year,” Kuniko CEO Antony Beckmand said.
“The investment in the airborne geophysics, combined with the extensive soil sampling campaign, demonstrates that there is significant upside exploration potential, with drilling by pervious explorer Berkut having missed the mark.”
“These results and the pending assays from our Vangrøfta Copper Project enable us to plan an efficient drilling program for next year.”
Assays from the soil sampling of the Vangrøfta copper project are still pending, with results expected within the coming weeks.
Kuniko shares were down 1.22 per cent, trading at $1.21 at 2:45 pm AEDT.