Announcement Date: 2022-10-11
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Kuniko Ltd.
Project name: Skuterud
Location: Norway
Commodities: Copper,Cobalt
Highlight: Drilling results incl. 11.1m at 0.23% Cu, 0.09% Co from 167m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Skuterud Cobalt Project is in central-southern Norway, due west of Oslo, comprising 10 exploration licenses with an area of 52.12 km2 (Refer: Figure 1). The exploration license area includes the historically significant Skuterud Cobalt Mine, now a museum, found in the centre of the project area, while the licenses also cover the extent of the main host horizon (“Fahlband”) at Skuterud, containing the richest cobalt deposits. An initial diamond drill program was completed at the Skuterud Cobalt Project between May and July 2022 (Refer: Figure 1) with a planned 2,800 metres in 7 diamond core (DD) holes at the three target prospects for potential cobalt mineralisation, north of the historic Skuterud Cobalt mine. Following identification of visible cobalt minerals in the drill core from the priority Middagshvile target, nearby the historic Skuterud Cobalt mine, the drill program was extended beyond the original scope to a total of 3,240 meters and 11 DD holes. Drilling at the priority Middagshvile target consisted of 8 holes from two drilling locations approximately 280 meters apart. Drill core assay results for the historic main mineralized position at the priority Middagshvile target have been received from ALS laboratories and significant results from samples in diamond drill holes, where average cobalt grades of approximately 0.05%
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