Junior explorer Kingsrose Mining (ASX:KRM) has uncovered new ‘strongly conductive’ zones from survey work at the Bruvann Mine area within its Råna Nickel-Copper-Cobalt Project in Norway.
These zones were identified following the completion of the acquisition and interpretation of ground-based electromagnetic (EM) and magnetotelluric (SPARTAN MT) geophysical surveys.
The company, which has a $54.18 million market capitalisation, says the ‘strong’ conductive bodies (Bruvann 01, 02, and 03) demonstrate the potential for massive sulphide mineralisation and have been identified in 3 localities proximal to the past-producing Bruvann Mine.
These areas include west-southwest and down-plunge of mined-out sulphide mineralisation at Bruvann, west and down-plunge of disseminated mineralisation (which remains open) at Bruvann, and at the contact between country rock and gabbronorite intrusive northeast of Bruvann.
As a result, drill testing of the targets is now underway to investigate the potential for massive sulphide nickel-copper-cobalt mineralisation associated with the conductive bodies.
Kingsrose believes any extension of the EM geophysical survey and downhole EM is expected to be conducted in late July 2023 to further define the targets and provide additional confidence in future drill targeting.
Meanwhile, the company notes a ground-based MT survey at the Rånbogen prospect and MobileMT survey over the entire Råna intrusive complex are now complete, with results expected to be interpreted over the coming weeks.
Addressing the discovery, Kingsrose Mining Managing Director Fabian Baker says: “Following the MT and EM results reported today, we are eagerly awaiting the final results and interpretations from MT data at the Rånbogen prospect, as well as the MobileMT data which covers the entire Råna intrusion.
“Our systematic approach to exploration is designed to methodically explore the large and prospective landholding which Kingsrose has consolidated at Råna”
Our systematic approach to exploration is designed to methodically explore the large and prospective landholding which Kingsrose has consolidated at Råna.”
Kingsrose Mining is a sustainability-conscious and ‘technically proficient’ mineral explorer with a discovery-focused strategy targeting the acquisition and exploration of critical mineral deposits that have a tier-one potential. This has resulted in the acquisition of the Råna Nickel Project in Norway.
The project represents a brownfields nickel-copper-cobalt asset considered prospective for the discovery of massive sulphide mineralisation. Råna is located in Nordland County, Norway, about 37km west by road from the township of Narvik and a deep-water, ice-free port that ships about 18-20 million tonnes of charger per year, mostly from Swedish iron ore operations.
Kingsrose Mining had $35.2 million cash at hand as of 31 March 2023, as stated in its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Kingsrose Mining Ltd
