Kuniko

Projects in Norway

Norway – Active Mining Jurisdiction & Leader in Renewable Energy

Clients
Clients

Skuterud Cobalt project

The historical home of cobalt production

  • Skuterud has had over 1 million tonnes of cobalt ore mined from 1773-1898 and was the world’s largest cobalt producer
  • Kuniko’s license area covers the so-called “Fahlband“ ore zone, a c. 9km trend holding the historic cobalt workings with >100 years of mining
  • Favourably located ~ 90 minutes’ drive from Oslo
  • Kuniko’s maiden drilling campaign intercepted cobalt in all 8 drill holes at its priority target priority “Middagshvile” target, nearby the historic cobalt mine
  • Mineralization open along strike and at depth, providing confidence in the potential for a large-scale cobalt and copper deposit
  • Second drill programme commenced February ‘23 to test the continuity and extent of mineralization along strike and at depth

One of the main cobalt minerals, skutterudite is named after the Skuterud mine where it was discovered.

RINGERIKE NICKEL, COPPER AND COBALT PROJECT

Brownfield Nickel-Copper mines and mine workings

  • Located 15km from Skuterud, the Ringerike licenses represent 360 km2 of exploration area, prospective for nickel, copper, and cobalt
  • Ni-Cu trend of historical mines and workings crosses property
  • The Project includes the brownfield Ertelien Ni-Cu mine with a prior NI 43-101 resource estimate (Ringerike Battery Metals Project)
  • Ringerike Battery Metals Project
        • The license covers a prospective suite of mafic intrusions to the NE of Skuterud project.
        • Historical Ni-Cu mines and mine workings are present on the property, including the brownfield Ertelien Ni-Cu-Co mine.
        • The area has been covered by modern geophysical surveys, however has seen limited drill testing.
        • Kuniko is targeting magmatic Ni-Cu sulphide deposit type, analogous to the Voisey’s Bay model.
        • Exploration work to date has identified four principal targets on the Ringerike property for follow-up: Høgås, Langedalen, Ulleren and Ertelien.
  • Ertelien Nickel-Copper-Cobalt Project
        • Ertelien is a gabbronorite-hosted orthomagmatic Ni-Cu-Co deposit and has been exploited between 1688 and 1716.
        • Ertelien mine produced approx. 400kt of ore @ 1.04% Ni, 0.69% Cu and 0.17% Co
        • Assay results of historical drill core confirm high grades of Nickel, Copper and Cobalt over 28.1 m @ 1.34% Ni, 1.19% Cu, 0.07% Co.
        • Maiden drilling in Q1’23 by Kuniko has intersected massive sulphides.

Trøndelag Copper Projects

High grades, rich history of copper production

  • Projects located in a historically important copper producing area of Trøndelag county in Norway
  • Undal-Nyberget Copper Project
        • Brownfield copper projects located in the prolific Røros Copper region, a copper belt which has historical hosted Tier 1-2 mines, including the Løkken Mine with historical production of 24 Mt @ 2.3 % Cu
        • Historical production from Undal had grades of 1.15 % Cu, 1.86 % Zn, while adjacent, Nyberget has had surface grades up to 2% Cu
        • A maiden 10-hole, 1,770m drilling programme commences in March ’23
        • Two high confidence, prospective priority conductor targets have been identified showing along-strike electromagnetic geophysical continuity with outcropping sulphide mineralization
  • Vågå Copper Project
        • Vågå Copper Project includes anomalies representing immediate targets, including a prospective horizon with a known strike extent of ~9km, A further shallow conductor can also be traced for several kilometres

High-grade, near-surface Polymetallic Mineralisation

  • Gullvåg is a highly prospective Cu-Zn prospect showing promising historical base metal grades and shallow plunge angles.
  • Gullvåg Project
        • Outcropping Cu-Zn sulphide lens discovered during the construction of a forestry road in 1980s. No historic mining.
        • Three holes drilled for 155 m, one of three missed.
        • Key intervals include:
          • 1.00 m @ 3.60 % Cu, 1.38 % Zn from 26.00 m
          • 0.60 m @ 1.04 % Cu, 12.02 % Zn & 73 ppm Ag from 37.90 m
        • Mineralisation remains unconstrained by drilling and geophysics.
        • Regional helicopter geophysics helped define prospective target window over 7 km.
        • Waste dump samples grading up to 7.14 % Cu, 7.75 % Zn, 0.378 ppm Au & 41.8 ppm Ag.
  • Deposits are believed to be of a comparable style and setting, amenable to the same exploration techniques.
  • Reasonable prospects for discovering and delineating several high-grade, near-surface mineralised lenses to carry further or sell to another operator.