Metals One (MET1) , a battery metals explorer with projects in Northern Europe, announced the completion of 1,548m of diamond drilling across 8 holes at the R1 Hook target of its flagship Black Schist project in Finland. The project is adjacent to Europe's largest operating nickel mine, Talvivaara.
The diamond drilling programme was designed to confirm the structure and potential for Talvivaara-style Ni-Cu-Co-Zn mineralisation at Black Schist. Metals One said that initial visual and portable X-ray Fluorescence (pXRF) assessments of the core indicated potential intersections of this style of black shale hosted mineralisation.
Metals One expects to report drilling assay results in early 2024, alongside structural interpretations and its detailed work programme aimed at materially increasing the Black Schist project's existing resource.
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Metals One has successfully completed its first drill programme at its Black Schist Ni-Cu-Co-Zn project in Finland. The R1 Hook target is a highly prospective extension to the R1 target in the Rauta 9-11 licence area at Black Schist. The project is adjacent to Talvivaara, Europe's largest nickel mine.
The initial assessments of the core indicate potential intersections of Talvivaara-style Ni-Cu-Co-Z mineralisation, which is an important milestone toward significantly increasing the project's existing resource of 28.1 Mt. This style of mineralisation is a highly sought-after low-cost, low-carbon source of battery metals in Europe.
Assay results and further information on Metals One's plans for new licences are expected in Q1 2024.
Work at Black Schist will add to Metals One's existing exploration programme at Råna, Norway where recent results have indicated high-grade sulphide Ni-Cu-Co mineralisation, with operator Kingsrose advancing rapidly through a 5,000m exploration programme. Both assets are shaping up to be significant deposits of critical battery metals.
MET1 shares climbed 3.85% on today's news.
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