Metals One PLC (AIM:MET1) said the first holes drilled as part of the 5,000-metre (m) diamond drilling programme at SRH Råna had confirmed the presence of high-grade semi-massive nickel-copper-cobalt sulphide mineralisation.
Partner Kingrose is carrying out and funding the 5,000m diamond drill programme at the project in Norway, with the intercept at the Bruvann target 20m southwest and along strike from a historical massive sulphide drill intercept.
A second hole was abandoned before reaching the intended target due to excessive deviation.
Jonathan Owen, Metals One chief executive, said: "Bruvann is one of the key targets of the exploration programme being undertaken by our farm-in partner, Kingsrose, at our SRH Råna Project in Norway, and we are pleased to be reporting results from initial diamond drill work, including the interception of massive sulphide nickel-copper-cobalt mineralisation.
“Results confirm that mineralisation at Bruvann remains open along strike from existing mine infrastructure, whilst we are also encouraged by the presence of high tenor nickel sulphides and substantial widths of mineralisation."