Business
Commencement of Drilling at Råna Project, Norway
Commencement of Drilling at Råna Project, Norway.
About this update from Metals One Plc
[{"type":"text","content":"\n\n\n \n25 July 2024\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nCommencement of Drilling at Råna Ni-Cu-Co Project, Norway\n \nMetals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway, is pleased to announce that the Company's Råna Project (nickel, copper, cobalt) partner and operator, Kingsrose Mining Limited (ASX: KRM) (\"Kingsrose\"), has entered into a service agreement (\"Drill Contract\") with Arctic Drilling AS (\"Arctic Drilling\"), for the commencement of helicopter supported core drilling at the Rånbogen prospect on the Råna Project in August 2024 (*see Figure 1).\n \nHighlights\n \n· Drilling is anticipated to complete in early September 2024, with assay results expected in October to November 2024\n· Drilling is focused on two targets identified last year through geophysics\n· Compelling targets comprise shallow, highly conductive electromagnetic (\"EM\") anomalies immediately down dip from mineralised nickel-copper-cobalt massive sulphide at surface (*see Figure 2)\n· Completion of a minimum 700m drilling will satisfy the drilling milestones under Metals One (via Scandinavian Resource Holdings Pty Ltd's) Transaction Implementation Agreement with Kingsrose and Global Energy Metals (*see Kingsrose's ASX announcement dated 18 January 2023)\n· Arctic Drilling is a Norwegian owned and domiciled company based out of Finnmark County, Norway, bringing extensive experience of operating in arctic regions with local knowledge\n \nJonathan Owen, Chief Executive Officer of Metals One, commented:\n \n\"It's great news that Kingsrose is ready to begin drilling again at the Råna Project. This strategic work programme is aimed at testing two compelling anomalies characterised by highly conductive EM responses down dip of nickel-copper-cobalt mineralised massive sulphide in outcrop, which were identified during last year's core drilling and are located within a previously undrilled area.\n \nWe look forward to updating shareholders on progress at the Råna Project as Kingsrose continues to build on the high-grade results from last year's drilling to verify the largely underexplored Råna intrusion's scale potential.\"\n \nRånbogen Dri...