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- Kingsrose Mining (KRM) confirms platinum group element, copper and nickel mineralisation at its Porsanger project in Norway
- Results from rock chip samples have identified outcropping PGE-copper-nickel intrusions, as well as copper and silver in quartz vein zones
- The company says this widespread mineralisation throughout the project is encouraging
- Ground based time-domain electromagnetic surveys are scheduled for the new year to explore for massive sulphide mineralisation up to 500 metres below surface
- Shares have been trading 2.5 per cent lower at 7.7 cents
Kingsrose Mining (KRM) has confirmed platinum group element (PGE), copper and nickel mineralisation at its Porsanger project in Norway.
The company is targeting massive sulphide hosted PGE-copper-nickel mineralisation,
associated with mafic-ultramafic dykes, sills and small intrusions at the Porsvann and Karenhaugen prospects.
Results have been received from a rock chip sampling program across the project, comprising 24 samples which identified outcropping PGE-copper-nickel mineralised intrusions, as well as copper and silver mineralisation in quartz vein zones.
Specifically, two mineralised intrusions outcrop within the project licences and returned what the company deemed “significant” PGE copper-nickel assays.
This included 11 rock chips from the Karenhaugen intrusion which averaged 2.75 grams per tonne (g/t) palladium equivalent, and mineralised samples ranging between 0.4 to 5.2 grams per tonne palladium equivalent.
At Porsvann, five rock chips averaged 2.4 g/t palladium equivalent with mineralised samples ranging between 0.2 to 6.6 g/t.
Kingsrose said both intrusions contain anomalous copper and nickel, with Karenhaugen returning two samples of 2.4 and 3.3 per cent copper and up to 0.27 per cent nickel.
Moreover, localised quartz vein zones returned high grade copper mineralisation with anomalous silver.
These zones are reportedly intermittent however, form repeatedly within preferred stratigraphic layers over a strike length of 10 kilometres.
Kingsrose Managing Director Fabian Baker said the widespread mineralisation throughout the project is encouraging to see.
“The PGE-copper-nickel mineralised intrusions at [the prospects] display characteristics of host intrusions to conduit-feeder type PGE-copper-nickel massive sulphide deposits in analogous settings elsewhere in Scandinavia and similar age Canadian greenstone belts,” he said.
“This style of mineralisation has not been targeted in the Porsanger region before and can be explored for effectively using geological mapping and electromagnetic geophysical surveys to generate drill targets.”
The company is planning and permitting ground-based time-domain electromagnetic surveys to explore for massive sulphide mineralisation up to 500 metres below surface.
This work is scheduled to be complete before the second quarter of the new year. KRM then plans to drill test any prospective electromagnetic conductors identified by the survey.
Shares were trading 2.53 per cent lower at 7.7 cents at 2:30 pm AEDT.
