Metals One, a Europe-focused mining company, announced on that its partner and operator, Kingsrose Mining, will start core drilling at the Rånbogen prospect in August. This drilling campaign is a significant step in the development of the Råna nickel-copper-cobalt project in Norway.
The drilling will focus on two targets that were identified last year through geophysical surveys. These targets are characterized by shallow, highly conductive electromagnetic (EM) anomalies found immediately below surface mineralized nickel-copper-cobalt massive sulphides.
The planned drilling will cover a minimum of 700 meters, fulfilling the milestones set under a previous agreement with Kingsrose and Canada’s Global Energy Metals, each holding a 10% interest in the project. Kingsrose has the option to earn up to 75% of the project through its agreement with Metals One.
“This strategic drilling program aims to test two highly promising anomalies, which were identified last year through geophysical analysis and are situated within an area that has not been drilled before,” said Jonathan Owen, CEO of Metals One, in a news release.
“We are eager to provide updates to our shareholders as Kingsrose continues to advance on the high-grade results from last year’s drilling, working to assess the full potential of the Råna intrusion,” Owen added.
The drilling is expected to be completed by early September, with assay results anticipated between October and November.
In addition to the Råna project, Metals One also owns the Black Schist project in Finland. This project has an inferred mineral resource of 57.1 million tonnes, with grades of 0.18% nickel, 0.09% copper, 0.01% cobalt, and 0.35% zinc. It is located adjacent to Europe’s largest operating nickel mine, Terrafame.