お知らせ • Aug 09
Kingsrose Mining Limited Identifies Strong Conductive Zones in Geophysical Results At the Rana Project, Norwegian Norwegian Nickel-Cobalt Project, Norway
Kingsrose Mining Limited announced completion of the acquisition and interpretation of magnetotelluric (SPARTAN MT) geophysical surveys at the Ranbogen area within the Rana Project, Norway. A follow up ground-based EM survey combined with attempted downhole EM of historical holes (depending upon the state of these holes) is currently in progress to further define conductive zones prior to drill testing. Drilling at Bruvann is underway and will transition to a helicopter portable rig in early August to allow drilling at Ranbogen to commence. Historical entry, verification, storage and protocols are not known. There has been no adjustment to assay data., Criteria, JORC Code explanation, commentary, Location of data points, Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation., Specification of the grid system used., Quality and adequacy of topographic control., Methodology and quality of surveys used to locating historical drill holes, trenches and mine workings are not known. However, several historical drill holes have been located in the field using handheld GPS at the correct locations indicated in historical reports., The grid system used is ETRS89, Zone 33., Topographic control is by publicly available LIDAR mapping data and is considered adequate for reporting of Exploration Results., Data spacing and distribution, Data spacing for reporting of Exploration Results., Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied., Whether sample compositing has been applied., No sample compositing has been applied, Magnetotelluric Data, Nominal site spacing of 200 metres for 65 sample sites, No sample compositing, Orientation of data in relation to geological structure, Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type., If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material., Historical drilling was angled perpendicular to the mapped mineralisation at surface to achieve unbiased sampling. On or before the eighth anniversary after closing, Kingsrose has the option to purchase 0.5% of the NSR on the Project by paying EMX A$1,200,000., To maintain its interest in the Project, Kingsrose will spend additional exploration expenditures of CAD 150,000 by the second anniversary, A$350,000 by the third anniversary, and A$350,000 by The fourth anniversary of the agreement, respectively, for a total of AUD 1,000,000 in exploration expenditures., EMX will receive annual advance royalty ("AAR") payments of AUD 25,000 commencing on the third anniversary of the agreement, with the AAR, Criteria, JORC code explanation, commentary, payment increasing 10% each year thereafter (but capped at an annual payment of AUD 75,000), A milestone cash payment of AUD 250,000 will be made to EMX upon completion of the first 10,000 meters of drilling at the Project., An additional milestone cash payment of AUD 500,000, will be made to EMX Upon disclosure of a maiden resource., Exploration done by other parties, Acknowledgment and appraisal of exploration by other parties., 1880-2002: Historical exploration and mining, The following is summarised from Jebens, 2013: Small scale artisanal mining at Rana dates back to 1880., Small scale artisanal mining atRana dates back to 1880., Between 1915 and 1937, 1299 meters of drilling was completed by Bjorkasen Gruber and Raffineringsverket Kristiansand., A 700 metre drift and 4035 metres drilling was completed during the Second World War (operator unknown), Between 1970-1975 Stavanger Steel and the Norwegian Geological Survey (NGU) completed 24,743 metres of drilling and 'geophysical surveys', In 1989 Nikkel og Olivin AS, a private Norwegian company, a private Norwegian company, commenced mining, a private Norwegian company, Acknowledgment and operated the mine until it closed in 2002., The mine until it closed in 2002. The mine is reported to have produced 8. The mine is reported to has reported to have produced 8.5 Mt at 0.52% Ni in 2002.5 Mt at 0.2% Ni in 2002.