Metals One PLC (AIM:MET1) has more than doubled the resources of its Black Schist polymetallic project in Finland.
A 29Mt maiden JORC Inferred Mineral Resource for the P5 area of Black Schist has increased the total resource to 57.1 Mt.
At grades of 0.18% nickel, 0.08% copper, 0.01% cobalt, and 0.33% zinc, contained metals at P5 are estimated at 52,000t of nickel, 24,000t of copper, 3,500t of cobalt, and 96,000t of zinc;
Jonathan Owen, Metals One chief executive, commented: “The addition of the P5 resource to the project portfolio brings the total value of in-situ metals to $3 billion at today's prices.
“Our Black Schist Project is on track to becoming the world-class asset we all believe it could be.
“Looking ahead, this increased resource base will underpin a Preliminary Economic Assessment of the project which we expect to commence in the near future. “