Drilling Results from Råna Project, Norway
Drilling at Råna Project intercepts new zones of nickel-copper mineralisation across three holes.
- Total drilling metres 706m
- Metals One ownership of Råna Project 39%
- Maximum nickel grade intercepted 1.6% Ni
- Hole 24RAN009 mineralisation interval 13.8m at 0.4% Ni average
- Hole 24RAN010 first zone 15.7m at 0.3% Ni average
- Hole 24RAN010 second zone 15.8m at 0.5% Ni average
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Metals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway, announces that the Company's Råna Project (nickel, copper, cobalt) partner and operator, Kingsrose Mining Limited (ASX: KRM) ("Kingsrose"), has received all analytical results from the 2024 core drilling programme at the project, where a total of 706m was drilled across three holes at the Rånbogen prospect. The Råna Project is currently 39% owned by Metals One.
Highlights included:
- Drilling tested a previously undrilled zone of outcropping massive sulphide located 600m northwest of the massive sulphide zone intercepted at Rånbogen in 2023 which returned 26.2m at 0.7% Ni, 0.2% Cu and 0.06% Co from 169.0m (see announcement dated 23 October 2023)
- Two holes intercepted broad intervals of disseminated to net-textured sulphide mineralisation demonstrating the presence of high nickel tenors, returning a maximum grade of 1.6% Ni, 0.2% Cu, 0.15% Co (interval length 0.64m, hole 24RAN010 - *see Figure 1):
o Hole 24RAN009 (length: 233m) intercepted 13.8m at an average grade of 0.4% Ni, 0.1% Cu, 0.04% Co from 143m (*see Figure 3)
o Hole 24RAN010 (length: 212m) intercepted two zones of mineralisation:
§ 15.7m at an average grade of 0.3% Ni, 0.1% Cu, 0.02% Co from 143m
§ 15.8m at an average grade of 0.5% Ni, 0.1% Cu, 0.06% Co from 165.2m (*see Figure 4)
- Exploration has demonstrated nickel-copper-cobalt sulphide mineralising processes have occurred in multiple 'stacked' zones throughout the 10km diameter Råna intrusion, indicating a large search-space for future discovery (*see Figure 5)
- Kingsrose is considering how best to advance the Råna Project
Jonathan Owen, CEO of Metals One, commented:
"It's great to report that Kingsrose has identified yet another new zone of nickel-copper mineralisation at the Råna Project associated with an extensive conductive geophysical anomaly.
The 2024 work programme has further demonstrated the prospectivity and scalability of the Råna Project, and we look forward to discussing with our partner the most appropriate next steps for the project which still remains largely underexplored."
*Kingsrose's full announcement, which includes supporting JORC statements and referenced Figures, and other referenced ASX announcements are available at: https://www.kingsrose.com/news.
*Kingsrose Figure 2: Map showing reported drill holes, geology, MT conductive anomalies, modelled EM plates and rock chips at the Rånbogen Prospect, Råna Project. Holes released in this announcement are labelled in bold
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Glossary
| Co | Cobalt |
| Cu | Copper |
| km | Kilometres |
| Massive sulphide | Metal sulphide ore deposit which consists almost entirely of sulphides |
| m | Metres |
| Net-textured | A structure in which one constituent occurs primarily at the grain boundaries, thus partially or completely enveloping the grains of the other constituent |
| Ni | Nickel |
| Tenor | The lowest permissible metallic deposit in an ore |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.