Metals One releases promising diamond drilling results
By Josh White
Date: Monday 12 Feb 2024
(Sharecast News) - Metals One released promising laboratory results on Monday, from its recent diamond drilling campaign at the R1 Hook target within the Rauta 9-11 licence area at the Black Schist Project in Finland.
The AIM-traded firm said it had identified significant intersections of mineralised black schists in all eight drill holes, indicating geological continuity with its existing resource at R1 and suggesting potential for future resource expansion.
Highlights from the drilling included hole RAU0002, which intercepted 14.7 metres of mineralised black schists from 50 metres depth, containing 0.18% nickel, 0.01% copper, 0.01% cobalt, and 0.57% zinc.
Similarly, hole RAU0003 intercepted 11 metres of mineralised black schists from 199.5 metres depth, with grades of 0.22% nickel, 0.01% copper, 0.01% cobalt, and 0.55% zinc.
The board said the drilling campaign aimed to confirm the structure's potential to host Talvivaara-type Ni-Cu-Co-Zn mineralisation, with Talvivaara being a significant producer of critical battery metals in Europe.
A total of 1,551.2 metres were drilled along what ground and airborne geophysical surveys indicated to be a fold structure to the east of the company's existing resource.
Observations from the drilling indicated the presence of mineralised black schists on the eastern limb of the main R1 Hook fold, with confirmation of the synformal structure dipping steeply to the south.
That suggested significant potential for further mineralisation to the east, prompting the company to extend its permit area in that direction.
Metals One said it had lodged a reservation to secure the area known as Kirkkosuo, with plans for a limited diamond drill programme to confirm the extension of the structure and mineralisation.
"Leveraging new and historical insights and data, the Metals One team is pleased to identify this economically important Talvivaara style of mineralisation," said chief executive officer Jonathan Owen.
"The resulting prospectivity model developed by the team significantly reduces discovery risk as we continue to target high-quality critical battery metal resources across the Kainuu Schist Belt.
"I look forward with excitement to the further development of our R1 Resource, and its potential extension to the east through the R1 Hook and beyond."
Reporting by Josh White for Sharecast.com.
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