Zak Mir talks to Jonathan Owen, CEO of Metals One, after the recent announcement that the company which is advancing strategic minerals projects in Finland and Norway, said that the Company’s Råna Project partner and operator, Kingsrose Mining Limited, has entered into a service agreement with Arctic Drilling AS, for the commencement of helicopter supported core drilling at the Rånbogen prospect on the Råna Project in August 2024.

The program aims to prove two high-priority targets by September, with results expected in October.

The Rana Project, a former successful mining site, holds promising geological potential near the base of the intrusion.

Successful drilling could lead to extensive resource definition and potential development, moving from exploration to a more de-risked development phase. Kingsrose Mining has invested over $3 million and is approaching a majority shareholding in the joint venture, demonstrating a strong commitment to the project’s prospects.

Metals One benefits from a free carry on the project, relying on Kings Rose’s expertise and operational leadership.

Highlights

·    Drilling is anticipated to complete in early September 2024, with assay results expected in October to November 2024

·    Drilling is focused on two targets identified last year through geophysics

·      Compelling targets comprise shallow, highly conductive electromagnetic (“EM”) anomalies immediately down dip from mineralised nickel-copper-cobalt massive sulphide at surface (*see Figure 2)

·    Completion of a minimum 700m drilling will satisfy the drilling milestones under Metals One (via Scandinavian Resource Holdings Pty Ltd’s) Transaction Implementation Agreement with Kingsrose and Global Energy Metals (*see Kingsrose’s ASX announcement dated 18 January 2023)

·    Arctic Drilling is a Norwegian owned and domiciled company based out of Finnmark County, Norway, bringing extensive experience of operating in arctic regions with local knowledge

Jonathan Owen, Chief Executive Officer of Metals One, commented:

“It’s great news that Kingsrose is ready to begin drilling again at the Råna Project. This strategic work programme is aimed at testing two compelling anomalies characterised by highly conductive EM responses down dip of nickel-copper-cobalt mineralised massive sulphide in outcrop, which were identified during last year’s core drilling and are located within a previously undrilled area.

We look forward to updating shareholders on the progress at the Råna Project as Kingsrose continues to build on the high-grade results from last year’s drilling to verify the largely underexplored Råna intrusion’s scale potential.”