Kuniko Limited (ASX: KNI) in collaboration with its Swedish based exploration partner, McKnight Resources AB, has announced significant progress in early-stage lithium exploration within Sweden. Initial assessments of several locations have led to the identification of two project areas—Väne Ryr Pegmatite Project and Stora Flaten Greisen Project—as promising sites for lithium and battery mineral exploration.
Väne Ryr returned high-grade samples reaching 2.64% and 4.59% Li2O and the company states Stora Flaten shows strategic potential. Kuniko, together with McKnight, has applied for mineral exploration permits for the two projects with the Mining Inspectorate of Sweden, Bergsstaten.
The exploration plans encompass additional mineralogical characterization, extensive rock chip sampling, comprehensive assays, and targeted boulder mapping at both the Väne Ryr and Stora Flaten projects.
Kuniko has also announced plans to enter a joint venture (JV) with McKnight Resources AB, with Kuniko to hold 70% and McKnight to hold 30% interest in the JV over the two prospect areas.
“Grass roots exploration within Sweden in collaboration with McKnight has been rewarded in identifying these two exciting lithium prospects,” commented Kuniko CEO Antony Beckmand. “We aim to leverage our and McKnight’s significant regional exploration experience to build on the initial results to realize the potential substantial value in these projects which are located in regions with excellent infrastructure for resource development.”
Kuniko’s lithium exploration efforts in Sweden signify the company’s commitment to rigorous and strategic exploration initiatives with these projects selected due to the potential for significant discoveries. Processing of the permit applications is anticipated to be complete within Q1 2024.
Thorough geochemical grid soil sampling is also scheduled, aiming to delineate high-confidence drill targets and solidify the potential of these projects.
The planned exploration provides a low-cost opportunity, leveraging local expertise, to achieve substantial progress at an efficient operational cost. This maximizes the value of the exploration initiatives and adds significant value to the portfolio of battery metals projects in Scandinavia.
For further information, please visit: www.kuniko.eu
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