Kingsrose Mining (ASX:KRM) has received permission from Norway’s Ministry of Trade and Fisheries to conduct drilling at its Karenhaugen prospect, as part of its Porsanger Project in Finnmark County.
The $30.10 million market capitalisation company says the decision grants Kingsrose the right to drill from up to 7 drill pad locations applied for by the company, subject to several conditions precedent.
The conditions include drilling only being carried out between 1 December 2024 and 15 February 2025, Kingsrose conducting an ongoing assessment of the risks and impacts of drilling, and it providing for 2 members of reindeer herding district 14A to be present during drilling operations.
Kingsrose applied to the Directorate for Mining in Norway for a permit to drill within Porsanger in April 2022.
However, following appeals raised by the local reindeer herding district and Sami Parliament, the application was forwarded to the Ministry for processing in August 2022.
The company notes drilling is expected to begin in December 2024 to develop further dialogue and cooperation with Sami reindeer herders and local communities.
Kingsrose Mining’s Prosanger Project sits at the northern end of 2 converging greenstone belts that are considered prospective for ultramafic hosted massive sulphide nickel-copper-platinum group element (PGE) mineralisation.
Write to Adam Drought at Mining.com.au
Images: Kingsrose Mining
