Drilling & Exploration Progress Update
Kuniko Limited ("Kuniko" or "the Company") is pleased to | ||
onlyprovide a progress update on its drilling and exploration | ||
activities at its prospective battery metals projects in | ||
Norway. | ||
use | Highlights: | |
▪ Skuterud Cobalt Project - diamond drill campaign continues to track according to | ||
personal | plan with approximately 1,007 metres drilled since the start of May. Drilling at the | |
first target site "Døvikkollen B" was completed 19th May, with drilling now | ||
commenced at the second target site "Damtjern". Drilling at the "Middagshvile" | ||
target nearby the historic cobalt mine is scheduled at the start of June. | ||
▪ Skuterud Cobalt Project - a detailed geochemical rock and soil sampling program | ||
has been completed with a focus around the Fahlband zone. A second sampling | ||
campaign has commenced at six target locations in the exploration license area that | ||
have not been previously sampled. | ||
▪ Ringerike Copper-Nickel-Cobalt Project - stream sediment sampling is underway, | ||
ahead of schedule and approximately 75% complete. | ||
▪ Ringerike Copper-Nickel-Cobalt Project - reconnaissance visits and sampling | ||
completed at three (3) Ni-Cu mineral occurrences in the Ringerike license area. | ||
▪ Undal-Nyberget Copper Project - geological reconnaissance site visit completed at | ||
the two (2) Nyberget exploration licenses providing improved understanding of the | ||
geological and mineralisation setting. | ||
▪ Nord-Helgeland Technology Metals Project - start of a comprehensive pegmatite | ||
sampling program imminent. | ||
▪ Share Purchase Plan (SPP) - closes at 5:00pm (WST) on Friday, 27 May 2022. | ||
Antony Beckmand, CEO, commented: | ||
For |
"Kuniko is rapidly advancing the development of its portfolio of battery metals projects, as planned and on schedule. Drilling at our Skuterud Cobalt Project is running smoothy and efficiently, while our field exploration teams have been able to progress ahead of plan, enabling additional reconnaissance field work to be undertaken which has demonstrated the prospectivity for mineralisation at our other Copper and Nickel project sites. We look forward to reporting the results of our drilling and exploration efforts in the time ahead."
ASX Release
25.05.2022
Highlights
Developing Copper, Nickel,
Cobalt, and other battery metals projects in Europe, for Europe
Ethical Sourcing ensured.
100% commitment to target a net ZERO CARBON footprint.
Operations in Norway, where 98% of electricity comes from RENEWABLE sources.
Corporate Directory
Kuniko Limited
ACN 619 314 055
Chief Executive Officer
Antony Beckmand
Chairman
Gavin Rezos
Non-Executive Director
Brendan Borg
Non-Executive Director
Maja McGuire
Non-Executive Director
Birgit Liodden
Company Secretary
Joel Ives
www.kuniko.eu
info@kuniko.eu
@KunikoLtd
KunikoLimited
Kuniko-limited
Level 11, Brookfield Place,
125 St Georges Terrace
Perth WA 6000
+61 8 6364 5095
onlyCobalt:
Drill Program at Skuterud
usepersonalCobalt:
Sampling
Program at
Skuterud
For
ASX Release
25.05.2022
In March 2022, the Norwegian mining directorate approved Kuniko's application for a drilling permit at the Skuterud Cobalt Project (Refer: Figure 1) with three target prospects for potential cobalt mineralisation, north of the historic Skuterud Cobalt mine. Drilling is planned for approximately 2,800 metres with 7 diamond core (DD) holes at the three sites. All targets are located by the presence of conductive anomalies at depth, with two targets within the 'fahlband' trend where historic mining has occurred. They are supported by the integration of recently acquired geophysical data with soil sampling and historic data. These are confident Co-Cu mineralisation targets. The third target was delineated as a favourable conductivity response in the geophysical dataset but is not located along the previously defined Fahlband trend. It is anticipated that the mineralisation style may differ from that along the Fahlband trend.
The diamond drilling program carried out by local Norwegian contractor, Norse Diamond Drilling AS, commenced on 2nd of May '22 and as at the date of this release, a total of 1,007 metres has been drilled. Drilling commenced at the northern most target "Døvikkollen B", with the two drill holes completed at the site on 19 May 2022 (Refer: Figure 2). Drilling at the second target "Damtjern" commenced on 20 May 2022, with rapid progress made. The third drill target, closest to the historic cobalt mine, is planned to start in the beginning of June, in accordance with guidance from the local municipal authority.
Drill core is currently logged on site and will be sent to a centralized drill core service provider for photographing, cutting, and sampling, after which the samples are dispatched to ALS laboratories in Sweden for analysis. Turnaround times for results are currently anticipated to be approximately 90 days. To minimise delays in results being received and reported, Kuniko will be preparing and submitting batches of drill core on a weekly basis.
An intensive program of soil and rock sampling at the Skuterud Cobalt Project, focussed on the Fahlband zone, commenced on 2 May 2022 and has been completed within May'22 ahead of plan. The field operations team collected a total of 1,017 soil and rock samples along a 50m x 100m soil grid. Figure 4 provides an illustrative map of the sampling coverage across the Skuterud license area, with a focus on the approximate 9-kilometre-long trend of historical cobalt workings around the historic Skuterud cobalt mine.
A second sampling campaign has now commenced, targeting six areas where sampling has not previously been undertaken. Soil and rock samples will be taken along 100m x 200m grids in these areas.
Soil samples from the dense grid will shortly be dispatched to ALS laboratories in Sweden for chemical analysis. Laboratory results are expected to be received during August 2021.
ASX Release
25.05.2022
only | |
Figure 1: | |
Location of | |
Skuterud Cobalt | |
Project and | |
granted | Døvikkollen B |
exploration | |
licenses, | |
including | |
locations of the | |
use | |
three maiden drill | Damtjern |
targets within the | |
exploration | |
licence area. | |
Coordinate System: | |
WGS1984 UTM32N. | |
For personal | Middagshvile |
ASX Release
25.05.2022
onlyFigure 2: Diamond drilling
collar details at Skuterud Cobalt Project.
Coordinate System:
WGS1984 UTM32N.
For usepersonal
ASX Release
25.05.2022
onlyFigure 3: Drilling at the
Skuterud Cobalt Project
For usepersonal
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Kuniko Ltd. published this content on 24 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2022 22:52:07 UTC.