Kingsrose Acquires Jakon Nickel-Copper-Cobalt Project in Finland
Kingsrose Mining Limited has announced the acquisition of the Jakon nickel-copper-cobalt project in Central Finland from Rio Tinto Exploration Finland Oy. This acquisition strengthens Kingsrose’s presence within the Kotalahti Nickel-Copper-Cobalt Belt and forms part of its Exploration Alliance with BHP in Finland.
The Jakon project spans 205 km², bringing Kingsrose’s total landholding under the BHP Exploration Alliance to 1,198 km². Located within the Kotalahti nickel belt, the project is near the past-producing Hitura Ni-Cu mine. The area remains underexplored for high-grade sulphide mineralization, with potential mineralization hosted in mafic-ultramafic intrusions.
Historical drilling by Rio Tinto between 2019 and 2022 confirmed significant nickel-copper sulphide intercepts, including:
- 0.5m at 3.7% Ni, 0.2% Cu, 0.14% Co from 361.0m within a broader interval of 4m at 1.2% Ni, 0.3% Cu, 0.05% Co.
- 64.7m at 0.4% Ni, 0.2% Cu from 250.6m.
- 110.1m at 0.4% Ni, 0.2% Cu from 345.2m.
The acquisition is funded by BHP under the Exploration Alliance, contingent on its continuation at the time of each payment. The acquisition terms include an initial €37,500 cash payment at signing, another €37,500 on the first anniversary, and €5 million payable within 90 days of a final investment decision to construct a mine within the Jakon project area.
