Metals One PLC (AIM:MET1) has reiterated that its strategy remains to define a 200 million-tonne (Mt) resource in the Paltamo area of Finland and become an important supplier of critical metals to Europe.
Achieving this will involve a programme of infill and step-out drilling plus more assaying of existing cores to increase volumes and geological and grade confidence in the R1 and P5 targets.
Jonathan Owen, Metal One chief executive, said: “Our strategy includes rapidly converting our P5 Exploration Target to a Mineral Resource, followed by an expansion programme with an ambition to realise, in the longer term, a resource in the order of 200 Mt.
Adding additional targets across the Kainuu Schist Belt using the company's innovative new prospectivity model for mineralised black schists is also part of the plan, it said.
Once identified, the aim is to drill and model these new targets systematically, said the statement.
Owen added: "Our strategy for the Black Schist Project, recently updated and outlined today, unlocks the potential to provide high-quality sources of critical minerals.
“The European market is seeking to secure such critical minerals from within the security of its own shores and at the lowest economic and environmental cost.
“It is our view that a resource of that scale could support an economic case for a long-term producing asset."
Black Schist is a nickel, zinc, copper and cobalt project.