Norway – Active Mining Jurisdiction & Leader in Renewable Energy
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
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.
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
- Gullklumpan Copper Project
- Gullklumpan Copper Project has geological continuity to significant mining districts in the region with outcropping nickel-copper-cobalt mineralisation. The key target is a 3km-long feature marked by a strong coincident
High-grade, near-surface Polymetallic Mineralisation
- Fløttum and Gullvåg are highly prospective Cu-Zn prospects showing promising historical base metal grades and shallow plunge angles.
- Fløttum Project:
- Historical Mine, limited production to ~68 m depth between 1888 and 1917.
- 19 Holes drilled between 1912 and 1953 for a total of 2650 m.
- Key Intervals include:
- 5.30 m @ 2.4 % Cu & 10.52 % Zn from 5.00 m depth
- 1.49 m @ 1.1 % Cu & 28.11 % Zn from 40.50 m depth
- Waste dump samples grading up to 5.83 % Cu, 15.20 % Zn, 0.384 ppm Au & 72.9 ppm Ag.
- 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.