Kuniko (ASX:KNI) reports that it has confirmed prospectivity for cobalt mineralisation in multiple sections of diamond drill core from the priority Middagshvile target at its Skuterud Cobalt Project in Norway.
The company has completed 5 drill holes to date at the Middagshvile target and will continue drilling until around mid-July, with about 2,500 metres completed so far.
Cobalt minerals, cobaltite and skutterudite (or other cobalt bearing minerals with similar optical properties to skutterudite) have been observed within the main sulphidic horizon from the Middagshvile target at Skuterud, which has had more than 1 million tonnes of cobalt ore mined historically.
The observed mineralisation is associated with disseminated, veined, rarely semi-massive sulphide mineralisation, predominantly pyrrhotite with subordinate chalcopyrite and pyrite.
Drilling will continue until around mid-July. Logging of the drill core is occurring in parallel with the drilling program, with laboratory assay results expected in about September.
Commenting on the results, Kuniko Chief Executive Officer Antony Beckmand, said: “We are delighted that our drilling has confirmed the prospectivity for cobalt mineralisation at our Skuterud Cobalt Project.
“While we have further work ahead in assaying the drill core and modelling the geology, the occurrence of visible cobalt mineralisation is very encouraging”
While we have further work ahead in assaying the drill core and modelling the geology, the occurrence of visible cobalt mineralisation is very encouraging and assuring that our continued efforts will unlock the potential of this important cobalt project.
Our strategy remains on target for the responsible development of ethical sources of net-zero carbon battery metals from Europe, for Europe.”
The company notes that additional modelling of the SkyTem geophysical data has improved identification of targets and optimisation of drill hole design at Middagshvile with zones of sulphide and cobalt mineralisation intersected in all 5 drill holes, defining a mineralised zone open to depth.
The diamond drilling program began at the Skuterud Cobalt Project in May 2022 and was originally planned to be a 2,800-metre 7 diamond core program but has since been extended to about 3,000m with 10 holes.
All targets are located by the presence of conductive anomalies at depth, with two targets within the ‘fahlband’ trend where historic mining has occurred.
Assaying of historical drill core from previous drilling at Middagshvile has been initiated to add to the geological database and modelling.
Kuniko’s strategy is to focus on the development of copper, nickel, and cobalt projects in Scandinavia and has expanded its interests to include prospects for both battery and technology metals.
The company’s priority assets, located in Norway, include the Skuterud Cobalt Project, the Undal-Nyberget Copper Project, the Ringerike Battery Metals Project, and Nord Helgeland Pegmatite Project.
Additional assets include the Feøy and Romsås Nickel projects and the Vangrøfta Copper Project.
Images: Kuniko Limited