Kuniko Limited (ASX:KNI) Achieves Significant Resource Increase at Ertelien
Mineral Resource Update
Kuniko Limited (ASX:KNI) has announced a substantial increase in the mineral resource at its Ertelien Nickel-Copper-Cobalt Project, now totaling 40 million tonnes (Mt) of mineral resources. This includes 22Mt of indicated resources and 18Mt of inferred resources, demonstrating an increase in both tonnage and contained metals compared to previous estimates.
The updated Mineral Resource Estimate (MRE) reflects nearly 4,000 metres of diamond drilling and extensive sampling of historical drill core, aligning with JORC guidelines. The MRE reports an average grade of 0.25% Nickel Equivalent (NiEq), which corresponds to approximately 71,000 tonnes of nickel, 49,000 tonnes of copper, and 5,600 tonnes of cobalt.
Operational Highlights
The Ertelien project serves as a strategic source for sustainable battery metals in Europe, given its location in Norway, where 98% of electricity is generated from renewable sources. Kuniko has made a 100% commitment to achieve a net zero carbon footprint throughout their operations. CEO Antony Beckmand stated, “This updated Mineral Resource Estimate is a major milestone for Kuniko, demonstrating a sizable resource at Ertelien. Our exploration efforts have successfully reinforced resource continuity while expanding confidence in the deposit’s potential and quality.”
Future Exploration Plans
Kuniko is focused on further exploration to capitalize on the updated MRE. Upcoming tasks include down-hole electromagnetic surveying and refined geological modelling to enhance drill target generation. The company anticipates potential resource expansion at Ertelien along-strike and down-dip, emphasizing the promising nature of the Ringerike Battery Metals District as a potential source of raw materials for Europe’s green energy transition.
Based on current plans, the company aims to continue validating and expanding upon its resource estimates, paving the way for sustainable and ethical extraction methods aligned with emerging European battery market demands.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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