Critical mineral project explorer Kingsrose Mining (ASX:KRM) has identified ‘strongly conductive’ zones from magnetotelluric (SPARTAN MT) geophysical surveys at the Rånbogen area within its Råna Nickel-Copper-Cobalt Project in Norway.
The company, which has a $52.76 million market capitalisation, says 4 discrete, ‘strong’ apparent conductivity anomalies have been modelled at the Rånbogen prospect over a strike length of 1.8km.
Kingsrose reports 3 of the anomalies (Rånbogen 01, 02, and 04) are hosted within pyroxenite and peridotite lithologies of the Råna intrusion, while the outstanding anomaly (Rånbogen 03) has been interpreted to be a ‘steeply’ south-dipping, ‘very strong’ conductor.
The company notes where these conductors extend to surface, they indicate a ‘strong’ correlation with coincident nickel-copper mineralised massive and disseminated sulphide identified by historical rock chip sampling. Rånbogen 02 is also noted to correlate well with historical drilling.
As a result, Kingsrose Mining announces that ground-based and downhole electromagnetic (DHEM) surveys are in progress to aid detailed drill targeting, and that the drill rig at the Bruvann Mine area will be switched to a helicopter portable system in early August.
This rig will be transferred to Rånbogen, where it will be put to work testing these ‘conductive’ targets.
Addressing the discovery, Kingsrose Mining Managing Director Fabian Baker says: “Our exploration team is bringing a fresh approach to exploration at Råna, utilising modern understanding of nickel sulphide deposit models and geophysical techniques never employed on the project before. Exploration is continuing to generate compelling targets, and with a drill rig currently on site, we look forward to testing several priority areas during the Norwegian summer.”
“We look forward to testing several priority areas during the Norwegian summer”
Kingsrose Mining is an ASX-listed mineral explorer targeting the acquisition and exploration of critical mineral deposits which demonstrate tier-one potential.
The company’s Råna project is located in Norway and represents a brownfields deposit considered prospective for the discovery of massive sulphide mineralisation, including nickel, copper, and cobalt.
Kingsrose Mining had $33.84 million cash at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Kingsrose Mining Ltd
