Kingrose Mining (ASX:KRM) - Managing Director, Fabian Baker
Managing Director, Fabian Baker
Source: Kingrose Mining
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  • Kingrose Mining (KRM) reports “significant” rhodium mineralisation at the Penikat Project in Finland
  • The company confirmed rhodium, iridium and ruthenium concentrations were returned as part of a drill core resampling program at the project
  • Intercepts from the resampling program included two metres at 0.84 grams per tonne (g/t) rhodium, 0.25 g/t iridium, 0.22 g/t ruthenium
  • The company says the results indicate the project represents one of the highest-grade platinum group element exploration projects globally
  • Kingrose Mining last traded at 6.8 cents at 10:10am AEST

Kingrose Mining (KRM) has reported significant rhodium mineralisation at the Penikat Project in Finland.

The company confirmed rhodium, iridium and ruthenium concentrations were returned from previously reported palladium, platinum, gold and base metal mineralised intervals, as part of the drill core resampling program at the project.

Intercepts from the resampling program included two metres at 0.84 grams per tonne (g/t) rhodium, 0.25 g/t iridium, 0.22 g/t ruthenium, as well as the previously reported 1.8 g/t palladium, 4.1 g/t platinum, 0.1 g/t gold, 0.15 per cent nickel.

“Our resampling at Penikat has shown consistent rhodium mineralisation at significant grades and highlights the additional value still to be realised at Penikat through exploration and improved understanding of the deposit,” Managing Director Fabian Baker said.

“The combined platinum group element (PGE)-nickel-copper grades returned by resampling of drill core at Penikat indicates that the project represents one of the highest-grade PGE exploration projects globally, with the additional benefits of being situated near mining infrastructure and in the highly regarded mining jurisdiction of Finland.”

Kingrose Mining last t5raded at 6.8 cents at 10:10am AEST.

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