Kuniko releases promising historical drill results

Our European battery metals exploration Investment, Kuniko (ASX:KNI), released solid assays from a historical drill core today.

The result from the Ertelien Nickel project was as follows:

• 28.1 metres @ 1.34% Nickel, 1.19% Copper, 0.07% Cobalt and 0.14 g/t Gold which included 19.9 metres @ 1.82% Nickel, 1.64% Copper, 0.09% Cobalt and 0.19 g/t Gold

That’s a very good hit - but again this was from an old core.

KNI’s first hole at its Eterlien project was actually a “twin” of this hole, which is basically when a company drills an almost identical drillhole right next to one completed previously.

KNI drilled the “twin” hole down to a depth of ~470m, but more importantly confirmed multiple intercepts with massive sulphides of greater than 90%.

Massive sulphides are important because they typically host high grade mineralisation.

Drilling is now underway at KNI’s project and the idea now is to use this core as a guide for extending the mineralisation.

Below is where this assay was taken from at Ertelien with the other holes KNI intends to drill as part of 1470m 5 hole campaign:

We’re particularly interested in the outcome of the two holes targeting near-surface mineralisation to the east

The previous owners of the Ertelien nickel project compiled a mineral resource of ~2.7mt at 0.83% nickel, 0.69% copper and 0.06% cobalt - however this resource is not currently JORC compliant.

KNI CEO Antony Beckmand said the company is aggressively pursuing a JORC resource which we think is the right strategy.

The near term newsflow from the nickel project combined with another crack at the Skuterud project, and some large copper targets to go after in March will provide the market with a good look at the potential of KNI’s projects.

What’s next for KNI? It’s on to Skuterud later this month, KNI’s cobalt project. KNI now has two rigs in Norway which should speed things up.