Kingsrose Mining Limited (ASX: KRM) ('Kingsrose' or the 'Company') is pleased to provide an update on exploration activities under the exploration alliance agreements with BHP in Norway and Finland ('Alliances').
Under the Project Generation Phase of the Alliances, US$5 million (A$7.75 million) will be allocated to exploration activities prior to 31 March 2025, allowing Kingsrose to carry out one of the largest generative exploration campaigns ever conducted in the regions.
Highlights
An airborne gravity gradiometry survey has commenced in Finnmark utilising a Falcon Airborne Gravity Gradiometer survey system, flown by Xcalibur Smart Mapping. Field teams have mobilised to commence mapping and geochemical sampling over high priority copper-nickel camps identified during the Xplor Program in both Finnmark and Central Finland. Ongoing collaboration with Norwegian Geological Survey (NGU) has confirmed intrusions within Kingsrose Finnmark exploration licences of similar age to Anglo American's Sakatti copper-nickel-PGE discovery, providing compelling new information for prioritising target areas. This represents one of the largest copper-nickel focused generative campaigns in the region and is designed to identify priority camps for follow-up detailed exploration and drill target definition
Kingsrose Managing Director, Fabian Baker, commented 'Exploration activities under our industryleading BHP Alliances are now in full swing in Norway and Finland. These generative exploration work programs have been designed with the combined expertise of Kingsrose and BHP on a regional scale to identify numerous new target areas. It is an incredibly exciting and unique opportunity to be applying cutting-edge exploration programs over such large mineral belts, the discovery potential is very compelling
2024 Exploration Plans
The BHP-Kingsrose Alliances work programs are designed to systematically explore on a regional scale to generate camps of targets which will be prioritised for detailed follow up mapping, sampling and geophysical surveys, leading to the identification of drill targets. Exploration within the Alliances areas of interest is at various stages of the exploration process. The initial work programs are described below.
Contact:
Fabian Baker
Managing Director
Tel: +61 8 9389 3190
Email: info@kingsrose.com
About Kingsrose Mining Limited
Kingsrose Mining Limited is a leading sustainability-conscious and technically proficient mineral exploration company listed on the ASX. The Company has a discovery-focused strategy, targeting the acquisition and exploration of critical mineral deposits. This has resulted in the acquisition of, or joint venture into, the Rana nickel-copper-cobalt and Penikat PGE projects in Norway and Finland. Additionally, Kingsrose was selected for the first cohort of the BHP Xplor exploration accelerator program which operated from January to June 2023 and now has entered two regional exploration alliances with BHP over areas of interest in Norway and Finland.
Forward-looking statements
This announcement includes forward-looking statements, including forward looking statements relating to the future operation of the Company. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement to reflect the circumstances or events after the date of this announcement.
Competent Person's statement
The information in this report that relates to Exploration Results is based on information compiled under the supervision of Andrew Tunningley, who is a Member and Chartered Professional (Geology) of the Australasian Institute of Mining and Metallurgy and is Head of Exploration for Kingsrose Mining Limited. Mr Tunningley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves.' Mr Tunningley consents to the inclusion in this report of the matter based on his information in the form and context in which it appears.
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