Resource Mining (ASX:RMI) reports that it has received results following due diligence activities across its three recently acquired “target projects” in Finland.
The results, delivered from the northern Ruossakero Nickel, central Kola Lithium, and southern Hirvikallio Lithium Projects, have been analysed by geological and geophysical specialists Skapto and indicate the existence of numerous exploration targets within the prospective tenement package.
In addition, Resource Mining has reached an agreement with the vendor of the three projects to extend the exclusive option period to 15 November 2022.
The three target projects are located in north, central, and southern Finland respectively and are prospective for nickel, copper, lithium and cobalt mineralisation across various anomalies and deposits.
The projects cover a comprised total land area of almost 550km-square across multiple exploration licences, with Resource Mining exercising the option to acquire all three projects within the Finland portfolio.
Results included ‘high-grade’ lithium values at Hirivkallio (5m @ 2.31% Li2O), as well as the definition of 18 new targets near the Hirvikallio occurrence and the Kola reservation area.
Commenting on the due diligence activities, Resource Mining Executive Chairman Asimwe Kabunga said: “Guided by the Skapto Report into the Target Projects, we are excited to now be preparing the initial field exploration program to further our due diligence activities.
“we are excited to now be preparing the initial field exploration program to further our due diligence activities”
The findings from the Skapto Report and broader due diligence data review have confirmed the extensive presence of lithium and nickel targets within each tenement and we are excited to continue our due diligence exploration works within these extremely prospective regions.”
The company also notes that the Ruossakero nickel tenement has successfully confirmed multiple drilled and sampled Ni-Cu-Co anomalies and has defined 10 targets for future drilling exploration.
With recent due diligence activities now complete, Resource Mining announces that it has moved forward with geological mapping, sampling, and testing of all of the targets identified in the review.
Images: Resource Mining Corporation Limited
