(Alliance News) - Kendrick Resources PLC on Wednesday remained optimistic about the prospects of its Airijoki project, following the discovery of other targets within the suite of licences.
Kendrick Resources is a mineral exploration and development company with vanadium, nickel and copper projects in Scandinavia.
It has identified four new exploration targets outside the main Vanadium trend at its northern Airijoki licenses in Sweden. The new targets are anomalous for copper, nickel, cobalt, gold, and palladium, and are coincident with underlying airborne geophysical anomalism.
Kendrick has now prioritised two for immediate follow-up, once weather permits. Two also have estimated minimum strike lengths of approximately two kilometres and one kilometre.
"The discovery of other targets for copper, gold, nickel, cobalt, and palladium within the suite of Airijoki licences is very encouraging, particularly as the project remains highly prospective for vanadium. Geophysics has proven successful at defining economic grades of vanadium mineralisation," said Chair Colin Bird.
"The potential for the discovery of other metals raises the profile of the Airijoki project and offers scope for the future recovery of valuable by-products to complement vanadium production. We look forward to providing further updates and notifying shareholders of the commencement of drilling."
Kendrick Resources shares were trading 1.1% higher at 0.91 pence each in London on Wednesday afternoon.
By Holly Beveridge, Alliance News reporter
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Kendrick Resources (KEN)