Positive Re-assay Results at Black Schist Project Paltamo P1 Target
Metals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway, announces that re-assaying of historical diamond core drillholes from the Black Schist Project Paltamo P1 target (“P1”) in Finland has identified high-grade nickel-copper-cobalt-zinc mineralisation across two intersections within a black schist sequence. Results further demonstrate the strength of the Company’s project pipeline and support Metals One’s longer‐term ambition of defining a 200 Mt resource at the Black Schist Project where the current resource stands at 57.1 Mt Ni-Cu-Co-Zn over the R1 and P5 areas.
As part of the Company’s resource expansion strategy, Metals One has re-assayed two historical drillholes at P1 which the Geological Survey of Finland (“GTK”) drilled on one section of the target. Nickel mineralisation within a black schist sequence at P1 indicates that there is potential for a larger, shallow mineral resource, whilst historical drilling intersected a 15m-25m thick zone of nickel mineralisation which is potentially extensive to the west, north and south. P1 sits 8km north of P5.
Intersections (see Tables 1 and 2)
· Intercept (0.10 Ni cut off): 29m-38m: 9m at 0.20% Ni, 0.08% Cu, 0.01% Co, 0.007% Zn, including 5m at 0.24% Ni, 0.12% Cu, 0.01% Co, 0.02% Zn
· Intercept (0.10 Ni cut off): 121.5m-141.5m: 19.5m at 0.22% Ni, 0.10% Cu, 0.017% Co, 0.36% Zn, including 12m at 0.27% Ni, 12% Cu, 0.02% Co, 0.39% Zn
Jonathan Owen, CEO of Metals One, commented:
“We’re pleased to have identified high-grade intersections in the re-assayed historical GTK cores at P1. These results underline the quality of our project pipeline as we aim to fulfil our overarching goal of defining a 200 Mt strategic metals resource which could underpin a long-term producing asset.
P1 is a key target for Metals One and, whilst our core focus remains on delivering a Preliminary Economic Assessment for the existing defined resource at the Black Schist Project which currently covers R1 and P5, we will now begin to explore the option of undertaking a drilling programme over the potential resource area informed by these re-assay results.”
Enquiries:
|
Metals One Plc Jonathan Owen, Chief Executive Officer |
via Vigo Consulting +44 (0)20 7390 0234 |
About Metals One
Metals One is developing strategic metals projects in Finland (Black Schist Project) and Norway (Råna Project), with approximately £9 million of exploration carry exposure through a farm-in agreement. Metals One is aiming to help meet the significant demand for strategic minerals by defining resources on the doorstep of Europe’s major electric vehicle OEMs and battery manufacturers. Metals One’s Black Schist Project in Finland, totalling 706 km2 across three licence areas, has a total Inferred Resource of 57.1 Mt nickel-copper-cobalt-zinc and is located adjacent to one of Europe’s largest strategic minerals producers, Terrafame. Metals One’s fully carried Råna Project in Norway covers 18.14 km² across three contiguous exploration licences, with significant opportunity for exploration of the Råna intrusion, and proven potential for massive sulphide nickel-cobalt-copper mineralisation.
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/metals-one-plc/
X (Twitter): https://twitter.com/metals_one_PLC
Instagram: https://www.instagram.com/metalsoneplc/?igsh=NDU1NHluMGpqeWdl
Subscribe to our news alert service on the Investors page of our website at: https://metals-one.com
