Four targets at Kuniko’s nickel copper project

Our European battery metals Investment Kuniko (ASX:KNI) recently released some promising results from sediment sampling work at its Ringerike project which lies just 15kms away from its Skuterud project.

While we’re eagerly awaiting the assay results from Skuterud where there was visible cobalt mineralisation in 7 of the 8 drill cores, KNI’s other exploration work is throwing up some interesting targets.

Ringerike includes a historically producing mine called Ertelien and between 1688 and 1716 it produced 400kt of ore at a grade of 1.04% nickel, 0.69% copper and 0.17% cobalt.

KNI also has rock chip assays as high as 1.55% nickel and 4.12% copper from the following locations:

Importantly, the stream sediment sampling program confirmed the north-northwest and south- southeast trend.

CEO Antony Beckmand said the work at Ringerike is aiming to see if there is a “potential extension of cobalt mineralisation from the nearby Skuterud Cobalt Project license area”.

KNI noted that it now has four targets at Ringerike and future works would pursue a magmatic nickel-copper sulphide deposit type, like Voisey's Bay — a 6,000 tonnes-per-day mine in Canada operated by Vale S.A., the largest producer of nickel in the world.

While that is a tantalising prospect, KNI still has a range of follow up exploration activities to attend to with further geochemical sampling work to come in Q2 2023 following the end of the Scandinavian winter.

What’s next for KNI? The countdown is on to get the cobalt assays back from Skuterud, which are expected in late September.