Kuniko (ASX:KNI) Obtains Drill Permit for Skuterud Cobalt Project – The Market Herald

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  • Kuniko (KNI) has received approval from the Norwegian Mining Authority to commence its drilling program on its Skuterud cobalt project in Norway
  • The company has planned a seven-hole drill program to test three potential targets, two of which are safe targets for cobalt and copper mineralization.
  • Drilling will begin the first week of May with Norse Diamond Drilling, which is also carrying out a preparatory site inspection this month.
  • Company believes demand for copper concentrate will accelerate as Europe phase out Russian energy supply
  • Shares ended the day up 1.54% at 66 cents apiece

Kuniko (KNI) has received approval from the Norwegian Mining Authority to undertake a drilling program on its Skuterud cobalt project in Norway.

The company has planned a seven-hole, 2,800 meter drill program to test three potential targets, two of which are safe targets for cobalt-copper mineralization.

Drilling will begin the first week of May with Norse Diamond Drilling, which is also carrying out a preparatory site inspection this month.

Preparations for sampling at four project sites are progressing steadily.

CEO Antony Beckmand thinks demand for copper concentrate will accelerate as Europe phase out Russian energy supplies.

“There are already a number of cobalt refineries in Scandinavia, but they will need a
domestic supply of cobalt concentrate,” he said.

“Kuniko has a huge opportunity with the Skuterud cobalt project in Norway, and
we are delighted to have had a quick positive response to our drilling permit application
of the Norwegian Mining Authority.

“We have three strong objectives and plan to develop this important project as quickly as possible to help meet Europe’s growing need for domestic cobalt supply.”

The shares were trading up 1.54% today at 66 cents apiece at market close.

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