Metals One PLC (AIM:LON:MET1), which holds a 39% stake in the Råna Project in Norway, has announced positive results from the 2024 drilling programme conducted by project operator Kingsrose Mining.
Three holes, totalling 706 metres, were drilled at the Rånbogen prospect, revealing new zones of nickel, copper, and cobalt mineralisation.
Key results include a maximum grade of 1.6% nickel, 0.2% copper, and 0.15% cobalt over a 0.64m interval in hole 24RAN010.
Broader intervals included 13.8m at 0.4% nickel in hole 24RAN009 and two zones of mineralisation in hole 24RAN010: 15.7m at 0.3% nickel and 15.8m at 0.5% nickel.
The findings highlight the potential for stacked sulphide zones within the 10km-wide Råna intrusion, indicating significant exploration opportunities.
Metals One CEO Jonathan Owen said: "It's great to report that Kingsrose has identified yet another new zone of nickel-copper mineralisation at the Råna Project associated with an extensive conductive geophysical anomaly.
"The 2024 work programme has further demonstrated the prospectivity and scalability of the Råna Project, and we look forward to discussing with our partner the most appropriate next steps for the project which still remains largely underexplored."