Metals One PLC has reported that two drill holes at the SRH Råna project in Norway have shown “high-grade massive sulphide nickel, copper, and cobalt mineralization”.
The results from the two holes indicate strike length of 150 metres, within a previously undrilled area which is open along strike and down dip, the company said in a statement.
“We are pleased to report that our SRH Råna Project partner Kingsrose has discovered a new high-grade, relatively shallow nickel-copper sulphide zone at the Rånbogen prospect, demonstrating that the wider Råna intrusion is host to significant mineralisation outside of the historical mine,” said chief executive Jonathan Owen.
“These results, including the interception of two stacked zones of sulphide mineralisation, confirm the scale potential of the Råna intrusion, with the exposed lower zone underexplored and highly prospective.”
Owen added: “Diamond drilling has now identified high-grade massive sulphide nickel-copper-cobalt mineralisation at both the Rånbogen and Arnes prospects.
“The operator is continuing to make good progress with the exploration programme which includes drill testing several targets at Rånbogen with similar signatures.”
Exploration partner Kingrose has the right to earn up to 75% of the project, through stages spending of up to A$15 million over an eight-year period. As a result, Metals One’s share of costs is ‘carried’.