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Battery metals explorer Kuniko Metals (ASX: KNI) has begun a second phase of drilling at its brownfields Ertelien nickel-copper-cobalt project in Norway to expand a mineral resource it unveiled to the market only two days ago.
Ertilian’s maiden mineral resource is inferred to be 23.3 million tonnes at 0.31 percent nickel equivalent (0.21 percent nickel, 0.16 percent copper and 0.014 percent cobalt), for 49.7 kilotonnes of nickel, 37.3 kilotonnes of copper and 3.3 kilotonnes of cobalt.
To build on this, Kuniko is rolling out an 8-hole diamond drilling program of approximately 4,000 metres diamond drilling program, while concurrently undertaking ground electromagnetic geophysical surveys to pin down the continuation of rich mineralisation there.
The company is bolstered by geological indicators which suggest similarities between Ertilian and top nickel-copper deposits in Canada’s Voisey’s Bay, while also noting that it carries grades close to those found at Boliden’s Finnish nickel-copper operation, Kevitsa.
Kuniko CEO Antony Beckmand said this knowledge was guiding continuing work in Norway.
“We are excited to have started this second phase of drilling, leveraging the recently
completed MRE to uncover the further potential of the Ertelien project,” he said.
“Our aim is to demonstrate progress towards developing a Voisey Bay style resource as a potential new source of critical battery metals for European industries. We will benchmark the project data against operational mines, to underscore the commercial viability of the project.
“We are confident we can advance the project rapidly and we plan to move towards early-stage feasibility by year-end.”
Kuniko plans to update the MRE for Ertilian later on this year.
The company is trading at 27c.
