Metals One has announced a significant milestone in their Finland project with the doubling of their Black Schist Project’s mineral resource estimate. The company has updated their total resource to 57.1 Mt, more than double the previous estimate, with a maiden JORC Inferred Resource of 29 Mt in the P5 area.
The new resource estimate includes 0.18% nickel, 0.08% copper, 0.01% cobalt, and 0.33% zinc, with contained metals of 52kt nickel, 24kt copper, 3.5kt cobalt, and 96kt zinc. The resource was calculated by Mining Plus, an independent global mining services provider, and is well-suited for cost-effective surface mining due to its orientation and proximity to surface.
Metals One CEO, Jonathan Owen, expressed delight at the company’s achievement, noting the rapid expansion of the Black Schist Project within just 12 months of listing the company. The project aims to provide strategic minerals like high-purity copper and nickel sulphates to the European market, with the latest resource estimate valued at $3 billion.
The company is now preparing for a Preliminary Economic Assessment of the project, marking a significant milestone as they transition to project development. The increased resource base from the P5 area and the overall Black Schist Project sets a strong foundation for the company’s future growth and success in the mining sector.
