Kuniko (ASX:KNI) has speared an “outstanding” intersection of visible cobalt mineralization in a new mineralized horizon at its Middagshvile drill target in Skuterud, Norway.
Highlights:
Skuterud Cobalt Project
▪ Drilling at the Skuterud Cobalt Project is progressing, with 6 holes completed to date for a total of 1,779m.
▪ The priority of the drill programme has been around the Middagshvile target where previous drilling by Kuniko delivered cobalt mineralization in eight of eight drill holes and defined a mineralized zone of 450m, open along strike and at depth.
▪ A new shallow mineralized horizon has been intersected in four drill holes (KNI_MDV011 – KNI_MDV014), with a fifth drill hole (KNI_MDV010) also having intercepts with visually identifiable cobalt minerals.
▪ A visually significant intersection of the new cobalt-mineralized zone is seen in drillhole KNI_MDV011, with plentiful visible cobalt minerals, likely identified to be cobaltite.
▪ Drilling has defined a new zone of 6.8m from 24.2m depth (KNI_MDV011), with field observations by geologists identifying a general sulphide content of 1-2%.
▪ Localized foliation-parallel and sometimes vein-hosted bands of strong cobaltite mineralization have been observed in the zone, demonstrating the potential for high concentrations of cobalt minerals at the Middagshvile target.
▪ To date, drilling at Middagshvile has defined a geologically coherent system that now extends for around 520m along strike between the historical Middagshvile workings in the south and KNI_MDV008 at the current northern end of drilling coverage.
▪ Two additional drillholes from a pad constructed to the north of KNI_MDV008 are planned, and with the potential to extend this system by up to another 200m along strike.
“Our maiden drilling campaign of last year at Skuterud produced results which gave us confidence in the potential of the project to identify cobalt-copper rich zones at a large scale,” CEO, Antony Beckmand, said.
“Our further drilling now is cause for excitement with these intersections having an abundance of visible cobalt mineralization and delivering a new shallow horizon.
“This is a superb result from our drilling so far at Skuterud which signals the potential for further exploration upside that remains to be unlocked at the project. This follows the recent drilling success at the nearby Ertelien nickel project where we had multiple intersects of massive sulphides.
“With progress to date, 2023 is shaping up to be a defining year of significant advancement and value generation across our project portfolio.”
For further information please visit: https://kuniko.eu/
