3 Drill Programs in Q1 after strong cobalt results

Our European battery metals exploration Investment Kuniko (ASX:KNI) released its quarterly report on Monday.

The report was a comprehensive look at KNI’s progress to date, and included more information on the company’s plans going forward.

Most important to us, is the fact that KNI is targeting a three-pronged exploration strategy in Q1 2023.

First, KNI will be testing further targets along strike at Skuterud, where they found significant cobalt-copper mineralisation in all 8 drill holes from the company’s first drill program at the historically producing mine.

Second, KNI is targeting a maiden drill campaign at another brownfields battery metals project called Ringerike.

Ringerike is 15kms away from Skuterud and has returned rock assay grades of up to 1.55% Ni and 4.12% Cu.

With a promising stream sediment sampling program already completed, KNI will aim to drill Ringerike in Q1 2023 as well.

Finally, KNI is also pursuing a Q1 2023 drill program for the Undal-Nyberget copper project to test “high-priority targets” pending the results of currently ongoing geophysics analysis.

Undal-Nyberget is located to the north of Skuterud on the west coast of Norway:

Undal-Nyberget had historical production grades 1.15 % Cu, 1.86 % Zn and surface grades of up to 2% Cu.

Those are excellent copper and zinc grades and Undal-Nyberget looks promising to us at this stage.

All up it means Q1 2023 should be a very busy period for KNI as they pursue this three-pronged exploration strategy.

KNI finished the most recent quarter with a solid $8.3M in cash.