Business
Exploration Update
Exploration Update.
About this update from Kendrick Resources Plc
[{"type":"text","content":"\n \n \n 24 March 2023\n \n \n \n Kendrick Resources Plc\n(\"Kendrick\" or \"the Company\")\n \n \n \n \n Exploration Update\n \n \n \n Kendrick Resources Plc (LSE: KEN), the mineral exploration and development company with nickel, vanadium and copper projects in Norway, Sweden and Finland is pleased to provide shareholders with a general exploration update.\n \n \n Highlights\n \n \n Espedalen Ni - Cu Project\n \n \n ·\n Successful completion of its maiden exploration drill programme targeting the Stormyra deposit (1.16Mt @ 1% Ni, 0.42% Cu & 0.04% Co) at Espedalen for a total of 19 holes and 1,650 metres drilled. The first two batches of drill core have been dispatched for processing and assay with the third and final batch currently being prepared. \n \n \n \n \n \n \n \n ·\n After receiving the assay results we will support the project with further technical studies targeted at completing a resource estimate update.\n \n \n \n \n \n \n \n ·\n Mineralisation was visible in drill core providing early confirmation of good continuity of the Stormyra ore body.\n \n \n \n \n \n ·\n The Project team is currently assessing several other nickel targets and anomalies within the Espedalen area for follow up.\n \n \n \n Airijoki V2O5 - Cu Project\n \n \n \n ·\n Results and assessment of a soil and rock geochemical survey over the four licences held at admission is due late March / early April.\n \n \n \n \n \n \n \n ·\n Soil and rock geochemical survey planned over the two new licenses granted in late 2022 is expected to commence in the summer. \n \n \n \n \n \n \n \n ·\n \n Summer Drilling Programme:\n \n A drilling programme is being scheduled for the Second Quarter when access to the area is possible. The target of the drilling programme is the extension of the existing resource to significantly increase the existing JORC (2012) Mineral Resource of 44.3Mt @ 0.4% V2O5 (in-situ) containing 5.9Mt of magnetite averaging 1.7% V2O5 in concentrate, with a focus on highly prospective geophysical targets representing a northerly extension of the known vanadium mineralisation.\n \n \n \n \n \n \n \n ·\n \n Metallurgical test work:\n \n External consultants are making good progress with metallurgical test work on Airijoki core samples. \n \n \n \n \n \n \n \n \n Colin Bird, Exe...