Assay Results from Black Schist Project
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Metals One (AIM: MET1), which is advancing strategic metals projects in Finland and Norway, announces, further to the announcement on 2 May 2024, that it has received all chemical assay results for the P5 JORC Exploration Target in the Paltamo area of the Finland Black Schist Ni-Zn-Cu-Co Project (the "Black Schist Project").
The P5 JORC Exploration Target was originally estimated by a previous permit holder using portable XRF measurements correlated to a sample of chemical assays. The Company intends to elevate the confidence levels of P5 by completing the chemical assaying of all mineralised intersections of the 5,555m drilled across the target, and generating a new mineral resource estimation with this more accurate data.
The Company is also pleased to announce that it has commissioned Mining Plus, a global mining services provider, to produce the new P5 mineral resource estimate. This will be to the latest JORC 2012 standards and the Company expects to report it to the market in July 2024.
Jonathan Owen, Chief Executive Officer of Metals One, commented:
"Metals One aims to contribute towards the EU benchmark for the domestic supply of strategic minerals by 2030, by rapidly progressing the Black Schist Project through development to production. Adding P5 to the project's existing resource base, namely the 28.1 Mt JORC Inferred Resource at R1, will no doubt further improve the project economics. With a favourable mineral resource estimate for P5, we then intend to quickly move through the project development gears and look to commission a Preliminary Economic Assessment this year."
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Glossary
| Co | cobalt |
| Cu | copper |
| Mt | million tonnes |
| Ni | nickel |
| JORC Exploration Target | Metals One's existing JORC Exploration Target of 16-24 Mt of Talvivaara type mineralisation containing 0.18-0.27% Ni, 0.09-0.13% Cu, 0.01-0.02% Co and 0.33-0.50% Zn at P5 target. Refer to the Company's admission document here for further information |
| JORC Inferred Resource | Metals One's existing Inferred Mineral Resource at the Black Schist Project of 28.1 Mt of Talvivaara-type mineralised material at a grade of 0.19% Ni (53,800t), 0.10% Cu (27,900t), 0.01% Co (3,400t) and 0.38% Zn (180,000t). Refer to the Company's admission document here for further information |
| schist | a medium-grade metamorphic rock formed from mudstone or shale |
| t | tonnes |
| Zn | zinc |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.