Next Investors logo grey

Kuniko's cobalt assays are in, more to come

|

Published 01-JUN-2023 09:00 A.M.

|

1 min read

Shares Held: 2,582,223

|

Options Held: 0

|

Announcement

|

Trust Centre


Yesterday, our EU and North American critical minerals Investment, Kuniko (ASX:KNI) released further assays from its Norwegian cobalt project.

The new assays included:

  • 2.1m @ 0.21 % Co from 23.2m
  • 2.0m @ 0.08 % Co from 28.8m

Previously, KNI had hit an exceptional shallow area of mineralisation (6.2 m grading 0.43% cobalt from 25.2 m) and now has 520m of strike.

KNI is now working on the theory that intervals in the deeper mineralised zone (found in the initial assays) may be peripheral to a higher-grade "payshoot".

KNI will return to conduct further exploration at the Norwegian cobalt project in Q2-Q3.

Below is the model KNI is now working with (blue and yellow lines are conductors):

Screenshot 2023-06-01 at 9.18.20 am

We are now particularly interested in what is to come from KNI’s recently acquired James Bay lithium projects.

What’s next for KNI?

With 3 types of battery metals projects currently on the go, here is what we are now looking forward to from KNI next:

Norway Cobalt: more assays followed by a new drill campaign to test new shallow high grade zone

North American Lithium: fieldwork in lead up to drill program, two stage program, stage 1 complete by June, stage 2 complete by August.

Norway Nickel: a JORC resource as KNI works to understand the mineralisation here (unknown time frame).