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IN BRIEF: Metals One receives licence extension at Black Schist

Tue, 28th Nov 2023 12:06

Metals One PLC - London-based firm advancing battery metal projects at brownfield sites in Finland and Norway - Says Finnish Safety & Chemicals Agency grants a three-year extension to the Rauta 9-11 licence at the Black Schist nickel, copper, cobalt and zinc project in Finland. It now has the right to prospect on all land under the licence until November 2026. Next week, says it will begin a 1,600-metre diamond drilling programme at an extension to the Rautavaara S "R1" target within the licence, or the R1 hook, which is considered a "highly prospective anomaly". Expects to announce assays and interpretations in early 2024. Adds that it has submitted six new licence applications and reservations in Rautavaara and Paltamo project areas which constitute the Black Schist project, after several months of evaluating and assessing.

"The Black Schist project is located adjacent to Talvivaara, Europe's largest operating nickel mine, and Metals One is targeting similar geology and mineralisation as the nearby operation through our strategic exploration programme, beginning with the diamond drilling campaign at the R1 Hook," says Chief Executive Officer Jonathan Owen.

Current stock price: 3.20 pence, up 6.7% on Tuesday

12-month range: down 29%

By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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