RE ; Mjolner Minerals29 May 2025 08:02
29 May 2025
Metals One Plc
("Metals One" or the "Company")
Potential Acquisition of PGE-Au-Ni-Cu Project, Norway
Strategic expansion into platinum group elements alongside gold, nickel, and copper
Metals One (AIM: MET1), a minerals exploration and development company, is pleased to announce it has signed a binding term sheet for the conditional acquisition of Mjolner Minerals (Norway) AS ("Mjolner"), the sole owner of the Lillefjellklumpen Project in central Norway (the "Project"). The Project comprises a 20 km² exploration licence hosting high-grade platinum group elements ("PGE"), gold, nickel, and copper mineralisation, and will further the Company's commodity exposure.
Highlights
· Strategic Expansion into PGE: The acquisition introduces platinum and palladium into Metals One's portfolio, complementing existing nickel and copper assets and reinforcing the Company's critical minerals strategy
· Historic High-Grade Discovery: The Project hosts some of the highest-grade PGE assays published in Norway, with surface sampling from 2014 returning up to 17.5 g/t Pd+Pt, alongside significant gold, nickel, and copper grades
· Geological Similarity to Major Global Deposits: Mineralisation characteristics show parallels to world-class deposits such as Sudbury (Canada) and Bushveld (South Africa)
· Low-Cost Entry with Significant Upside: Metals One is acquiring, subject to the completion of the conditions, the Project for €90,000 and a 2% net smelter return royalty, securing a highly prospective and under-explored asset at an early stage
· Favourable Infrastructure and Access: Located in Nord Trøndelag County with proximity to roads, power infrastructure, and a historic mining community
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