REG - Metals One PLC - Black Schist Ni-Zn-Cu-Co Project Update

Metals OneAnnouncement

02/05/2024 15:30

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RNS Number : 0630N  Metals One PLC  02 May 2024

 

2 May 2024

 

Metals One Plc

("Metals One" or the "Company")

 

Black Schist Ni-Zn-Cu-Co Project Update

 

Metals One (AIM: MET1), which is advancing strategic battery metals projects
in Finland and Norway, announces that the second stage payment from Gunsynd
Plc ("Gunsynd") pursuant to the subscription and shareholders agreement (the
"Farm-in Agreement") between Metals One, Metals One Finland Oy (formerly named
FinnAust Mining Northern Oy) and Gunsynd, as detailed in the Company's
admission document, is now due. Discussions regarding various options in
relation to the Farm-in Agreement are ongoing and the Company will make a
further announcement once these are concluded.

 

The Farm-in Agreement relates to Metals One's Finland - Black Schist Project,
with an Inferred Mineral Resource of 28.1 Mt of Talvivaara-type mineralised
material at a grade of 0.19% nickel (53,800t), 0.10% copper (27,900t), 0.01%
cobalt (3,400t) and 0.38% zinc (180,000t) at the Rautavaara licence.

 

Further to its announcement of 17 April 2024, the Company confirms it has now
received over 60% of the assay results from the previously un-assayed
intersections at the P5 JORC Exploration Target at the Black Schist Project.
The Company is on track to share its interpretation and updated resource in Q2
2024, as previously advised. It is expected that the updated resource will
underpin a preliminary economic assessment of the project representing a key
milestone in the Company's transition from exploration and discovery to
project development.

 

Enquiries:

 

 Metals One Plc                                                     via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                             +44 (0)20 7390 0234

 Beaumont Cornish Limited (Nominated Adviser)                       +44 (0)20 7628 3396

 James Biddle / Roland Cornish

 www.beaumontcornish.com (http://www.beaumontcornish.com)

 Shard Capital Partners LLP (Joint Broker)                          +44 (0)20 7186 9952

 Damon Heath / Erik Woolgar

 SI Capital Limited (Joint Broker)                                  +44 (0)14 8341 3500

 Nick Emerson

 Fortified Securities (Joint Broker)                                +44 (0)20 3411 7773

 Guy Wheatley, CFA

 www.fortifiedsecurities.com (http://www.fortifiedsecurities.com)

 Vigo Consulting (Investor Relations)                               +44 (0)20 7390 0234

 Ben Simons / Kendall Hill

 metalsone@vigoconsulting.com

 

About Metals One

 

Metals One is developing strategic battery metals projects in Finland (Black
Schist Project) and Norway (SRH Råna Project), with approximately £9 million
of exploration carry exposure through farm-in agreements. Metals One is aiming
to help meet the significant critical minerals by defining resources on the
doorstep of Europe's major electric vehicle OEMs and battery manufacturers.
Metals One's Black Schist Project in Finland, totalling 706 km(2) across three
licence areas, has an Inferred Resource of 28.1 Mt nickel-zinc-copper-cobalt
and is located adjacent to Talvivaara, Europe's largest operating nickel mine.
Metals One's fully carried SRH Råna Project in Norway covers 18.14 km²
across three contiguous exploration licences, with significant opportunity for
brownfield exploration of the Råna intrusion, and proven potential for
massive sulphide nickel-cobalt-copper mineralisation.

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

X (Twitter): https://twitter.com/metals_one_PLC
(https://twitter.com/metals_one_PLC)

 

Subscribe to our news alert service on the Investors page of our website at:
www.metals-one.com (http://www.metals-one.com)

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

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