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Skuterud PROJECT

KEY FACTS

1Mt

of cobalt ore mined historical

5,884 metres

of core drilled at
Middagshvile

90 sq kms

exclusive license area

2x

prospective Co-hosting Fahlbands

OVERVIEW

Skuterud is a prospective region for cobalt with several cobalt occurrences along the main Fahlband trend of over a 12 km strike length and potentially in the less explored Eastern Fahlband. The historic Skuterud Cobalt Mine (1776 -1898) was operated by the Modum Blaafarveværk company to provide cobalt ore for production of cobalt blue pigment. At the time this was the world’s largest cobalt producer Co-(Cu) mineralisation in the ‘Fahlbands’ occurs as disseminated, structurally-controlled Co-minerals (mainly cobaltite) in metasedimentary rocks.

Kuniko has undertaken exploration activities in the licenses area targeting high-grade cobalt mineralisation along the western Fahlband, where most of the historical mine workings occur. Exploration diamond drilling and downhole geophysics have focused on the Middagshvile target during 2022 and 2023. Diamond drilling results have returned high grade and shallow mineralised results including 6.2m @ 0.43% Co from 25.2 m, including the highest-grade interval of 1.0 m @ 1.08 % Co from 30.4 m.

GEOLOGY & MINERALISATION

Co-mineralisation is hosed in metasedimentary rocks and “Fahlbands”. Geological investigations at the Skuterud project have uncovered a consistent mineralised stratigraphy stretching over 11 km along strike, with historical workings confirming the presence of ore-bearing layers, particularly along the graphitic schist – quartz-biotite schist contact where the highest cobalt grades are found.

Analysis of ore horizons suggests the potential for multiple parallel mineralization zones within a 100-150 metre thickness, predominantly following North-South trending structures. Structural measurements indicate tight folds with a North-South axis controlling the shape, thickness, and orientation of mineralized envelopes, with small-scale folding influencing cobalt grades.

Mineralogical studies have identified cobaltite as the primary host of cobalt mineralization, along with pyrite, Co-pentlandite, and grimmite, laying the foundation for future investigations into the chemical properties and geometallurgical aspects of the cobalt ore at Skuterud. These insights provide valuable guidance for further resource expansion efforts along the belt.

HIGHLIGHTS

  • Exploration by Kuniko has been concentrated on the Western Fahlband which is 100-200m wide band.
  • Kuniko’s has drilled a total 19 drillholes for 5,684 m in the Middagshvile target showing high-grade cobalt mineralisation including:
    • 6.2m @ 0.43% Co from 25m, incl. 1m @ 1.08% Co

Other exploration activities include:

  • Soil sampling and geological mapping
  • Airborne electromagnetic SkyTEM survey
  • Ground survey Geophysics (EM), down hole electromagnetic surveys (DHEM), and parameter logging
  • Re-logging and sampling historical drill core
  • Preliminary mineralogical studies including QEMSCAN analysis

Next steps:

  • Geological interpretations and modelling of mineralisation to enhance understanding of ore-forming processes and system model for further targeted exploration
  • Assess size and mineralisation style to evaluate potential for economic extraction

Interpretive sketch section through drillholes KNI_MDV011 and KNI_MDV012.
Structural observations made from the core have defined fold hinge zones, which are key conceptual exploration targets.

Snapshot of OreXplore Core scanning, highlighting tight folding in the high-grade Co- mineralisation drilled by Kuniko in KNI_MDV011.

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Contact Information - Australia

Level 28, AMP Tower 140 St Georges Terrace, Perth WA 6000

ABN: 99 619 314 055

Phone:
+61 8 6364 5095

Email:
info@kuniko.eu

Contact Information - Norway

Level 4, Schweigaards gate 14, 0185 Oslo, Norway

Org. nr. 927 303 663

Phone:
+47 4010 3555

Email:
post@kuniko.eu

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