Kingsrose Mining (ASX:KRM) expects to begin drilling at its Penikat Platinum Group Elements (PGE) Project in Finland in January 2027, subject to regulatory approvals and no appeals.
The company is progressing Area 6 permitting at the project, which hosts an exploration target of 21–32 million tonnes @ 4–7.4g/t platinum, palladium, rhodium, iridium, ruthenium, and gold (6E) for 2.8–7.7 million ounces 6E.
The Finnish Safety and Chemicals Agency, or Tukes, Finland’s mining authority, is progressing Kingsrose’s exploration permit application and enforcement order application submitted in July 2026.
Statements from environmental regulator, the Finnish Supervisory Agency, and state landowner Metsähallitus are expected in September, with public consultation feedback due in early October.
Tukes intends to prioritise the Area 6 exploration permit, with determination expected in early December 2026. Following the required 37-calendar-day appeal period, Kingsrose targets drilling in January 2027.
The proposed drilling program targets interpreted extensions of the AP reef within Area 6, which sits outside the Natura 2000 area, providing a more direct permitting pathway.
“Subject to the remaining regulatory processes and statutory appeal period, we are targeting drilling in January 2027,” CEO Andy Caruso says.
“The program is planned to test the interpreted extensions of the AP reef and is designed to provide greater understanding of the scale and continuity of the known PGE mineralisation.”
Historical drilling at Penikat has averaged about 43m depth, leaving the depth, continuity, and extensions of known PGE mineralisation largely untested.
If the enforcement order is appealed during the 37-calendar-day period, drilling would be delayed. An expedited appeal could take about three months, moving drilling to August 2027.
Kingsrose Mining holds a 100% interest in the Penikat Project in northern Finland, a PGE-nickel-copper exploration project hosted within a layered mafic-ultramafic intrusion.
The project has approximately 23km of cumulative strike extent of prospective reefs.
Kingsrose Mining is an Australian explorer focused on nickel, copper, cobalt, platinum group elements, and gold, with a Nordic portfolio that includes the Råna and Finnmark projects in Norway.
Write to JC Villarba at Mining.com.au
Images: Kingsrose Mining
