8th Aug 2023 13:40
Metals One PLC - advancing battery metal projects at brownfield sites in Finland and Norway - Says its partner, Kingsrose Mining Ltd, has completed the acquisition and interpretation of magnetotelluric geophysical surveys at the Ranbogen prospect at the Rana project.
Chief Executive Jonathan Owen says: "We are delighted to announce results from geophysical surveying at Ranbogen, one of three priority prospects at our Rana Project. Utilising modern geophysical techniques never previously deployed on the area, our partner Kingsrose has identified highly conductive zones which demonstrate potential for massive nickel-copper-cobalt sulphide mineralisation, further supporting that the Rana intrusion is highly prospective for a significant nickel deposit. These surveys, together with the ground-based and downhole EM surveys currently underway at the prospect, will help inform a drilling programme at Ranbogen designed to test, and hopefully realise, the potential of the Ranbogen Block to host nickel-copper-cobalt deposits."
Current stock price: 4.25 pence, up 2.4% in London on Tuesday afternoon
By Heather Rydings, Alliance News senior economics reporter
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