- Kuniko Metals (KNI) intercepts more sulphide mineralisation in two twin holes following success in its maiden drill hole at its Ertelien nickel project in Norway
- However, another hole in the area had to be aborted at 48.5 metres after the company struck unmapped historical workings assumed to be from a 19th-century mine section
- The drill core from the first Ertelien hole has now been logged, sampled and dispatched for assay analysis, with results due sometime in March
- Meanwhile, Kuniko has kicked off a second drilling program at the Middagshvile target within its Skuterand cobalt project to comprise 10 holes for 2500 metres
- Kuniko (KNI) shares are up 8.89 per cent and trading at 49 cents at 1:49 pm AEDT
Kuniko (KNI) has struck more sulphide mineralisation in two twin holes following success in its maiden drill hole at its Ertelien nickel project in Norway.
The company intersected both magmatic textures and massive sulphide veins in the two new holes. However, drilling in another hole had to be aborted at 48.5 metres after the company struck unmapped historical workings assumed to be from a 19th-century mine
Recent assay results published in early February from historical drill core sampled from the Ertelien project confirmed sulphides of greater than 90 per cent abundance and high-grade nickel-copper-cobalt mineralisation.
The company cautioned, however, that while the new drill holes were encouraging, visual estimates of sulphide material abundance should not be considered a substitute for laboratory analysis, which was still underway.
The drill core from the first Ertelien hole has been logged, sampled and dispatched for assay analysis, with results due sometime in March.
Kuniko has prepared a new drill pad for its next exploration hole at Ertelien.
Meanwhile, the company has kicked off a second drilling program at the Middagshvile target within its Skuterand cobalt project to comprise 10 holes for 2500 metres
The Skuterud project lies west of Oslo and approximately 15 km southwest of the Ringerike battery metals project.
“The exploration team is off to a cracking start this year, first with a successful maiden drilling campaign at the Ertelien nickel project, and now with momentum building as the Skuterud Cobalt drilling campaign runs in parallel,” Kuniko CEO Antony Beckmand said.
“Spearing further massive sulphide mineralisation at the Ertelien nickel project continues to encourage us of the potential of this project. Importantly, the observations are correlating with the historic work and drill core inventory, which, once validated, will enable the project to be on a fast track toward a maiden resource estimate.”
Kuniko (KNI) shares were up 8.89 per cent and trading at 49 cents at 1:49 pm AEDT.