Porsanger is located within the under-explored Karasjok Greenstone Belt, which extends from northern Norway into Finland and the Central Lapland Greenstone Belt. This belt of rocks is highly prospective for magmatic nickel-copper-PGE sulphide deposits.

The Central Lapland Greenstone Belt is host to the producing Kevitsa nickel-copper mine operated by Boliden, and the Sakatti nickel-copper-PGE deposit discovered by Anglo American in 2009. Both Sakatti and Kevitsa deposits are hosted in 2.06 Ga mafic-ultramafic intrusions. Intrusions of a similar age occur at Porsanger and are mineralised.

Porsanger was drilled in the 1990s by the Norwegian Geological survey as part of a copper exploration program. The historical drilling intercepted broad, low to moderate grade, palladium dominant PGE mineralisation with copper and rare nickel mineralisation in two small outcropping intrusions called Porsvann and Karenhaugen. No follow up exploration was conducted. Historical intercepts include:

• 45 metres at 1.4 g/t 4E and 0.1 % Cu (0.9 g/t Pd, 0.4 g/t Pt, 0.04 g/t Rh and 0.06 g/t Au) from 65 metres (hole PV-01), including
  • 15 metres at 2.6 g/t 4E and 0.2 % Cu (1.8 g/t Pd, 0.7 g/t Pt, 0.08 g/t Rh, 0.09 g/t Au) from 90 metres
• 75 metres at 0.9 g/t 4E and 0.1 % Cu (0.6 g/t Pd, 0.3 g/t Pt, 0.03 g/t Rh, 0.03 g/t Au) from 16 metres (PV-04) including
  • 1 metre at 6.9 g/t 4E, 0.5 % Cu and 0.1 % NiS (Nickel Sulphide) (5.1 g/t Pd, 1.5 g/t Pt, 0.15 g/t Rh, 0.23 g/t Au) from 34 metres

Kingsrose intends to explore the known mineralised intrusions for the occurrence of additional disseminated mineralisation as well as explore the potential for higher grade massive sulphide mineralisation which has never been targeted before in the region. 

Exploration by Kingsrose to date has identified a 350m by 400m, shallow conductive body at Karenhaugen, immediately down dip from mineralised outcrop. A new zone of mineralised intrusives was identified in the SW part of the licence area. 

The company is currently applying for drill permits at the Porsvann and Karenhaugen intrusives and will continue with a systematic program at the earlier stage projects to generate additional drill targets.  

Porsanger is located in Finnmark County, Northern Norway, next to the coast and near the town of Lakselv with local airport. The project can be reached by main road, with ATV trails and footpaths which cross parts of the licence areas. Several power lines are located within the exploration licence area. The area is typified by rocky hills, moorland and forested, shallow but steep sided gullies dissected by a network of streams, ponds and lakes. 

Porsanger comprises eight contiguous exploration licences A-H, totalling 64.3 square kilometres. The Exploration Licences are 100% held by Kingsrose Exploration AS, a 100% owned subsidiary of Kingsrose. 

A Special Permit is required for invasive exploration work in Finnmark County, including drilling, according to Article 18 of the Mining act. 

Kingsrose has completed baseline habitat and cultural surveys at the Porsvann and Karenhaugen prospects in support of drill permit applications.

The special permit may be refused if the consideration of Sami interests goes against the application being granted. When an application for a special permit is being reviewed, a significant emphasis is placed the on the consideration of Sami measures are requested for the potential impacts. For this purpose, statements on application are requested from the Sami parliament, local reindeer herding district and the Finnmark Estate (FeFo), which is the organisation responsible for the management of majority of land area within Finnmark.

At Kingsrose, we consider proactive and open dialogue with all our stakeholders and local communities a priority. We have started discussion with the local community and local reindeer herding district in advance of any investigations taking place in the area. 

Porsanger is located within the Early Proterozoic Karasjok Greenstone Belt, a north-south trending belt approximately 150 kilometres long and an extension of the Lapland Greenstone Belt. The belts host numerous significant Ni-Cu-PGE, sedimentary copper, and gold deposits in the region, including the recently discovered Sakatti Ni-Cu-PGE project (Anglo American plc) and Ikkari gold project (Rupert Resources Limited).

Two magmatic feeder conduit-style mafic-ultramafic intrusions are present within the project area. The Porsvann and Karenhaugen intrusions are located within the west and east of the area. Both intrusions contain disseminated sulphide (pyrrhotite, chalcopyrite, pentlandite) with associated Pd, Pt, and Cu mineralisation. Surface outcrops are locally stained by malachite. Previous field mapping indicates that the mineralisation is concentrated towards the base of the intrusions and locally within the footwall. The best drill intersection is 43 metres at 1.2 g/t PdEq, including 15.2 metres at 2.1 g/t PdEq. Copper grades range between 0.01 – 0.5 %.

Copper-dominant mineralisation also occurs more extensively across the property in the form of en-echelon and tensional quartz vein arrays hosted by amphibolite and mica schist. Individual vein zones are localised into <30 metre by <2 metre lenticular bodies. These frequently occur along a ten-kilometre-long zone of intermittent mineralisation. The vein mineralogy is quartz with massive to semi massive intergrowths of chalcopyrite and bornite. Individual veins are typically <30cm thick.

The information in this report that relates to the Exploration Results at the Porsanger Project was first reported by the Company in compliance with the 2012 edition of the JORC Code in ASX announcements dated 11 October 2022, 25 August 2022 and 7 July 2022.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX releases referred to above and it further confirms that all material assumptions and technical parameters underpinning the exploration results and exploration target continue to apply and have not materially changed.

The information on this website that relates to Exploration Results is based on information compiled by Mr Andrew Tunningley, who is a Member and Chartered Professional (Geology) of the Australasian Institute of Mining and Metallurgy and is Head of Exploration of Kingsrose Mining Limited. Mr Tunningley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Tunningley consents to the inclusion in this report of the matter based on his information in the form and context in which it appears.

Stakeholder Engagement

We commenced engagement with key stakeholders and Sami rightsholders in February 2022 and have continued to maintain regular contact and to broaden our communication within the wider community. Our focus has been to meet, understand, and develop trust-based relationships.

Kingsrose is committed to operating in accordance with the principal of Free, Prior, Informed Consent, and building a framework for cooperation with Sami rightsholders on this basis. In order to support our engagement with Spierttagáisá (14A) Kingsrose has held several meetings and provided funding for Protect Sápmi to provide expert and independent advice to Spierttagáisá (14A). Kingsrose is working towards implementing a mutually agreed Process Agreement to recognise Spierttagáisá (14A) as rightsholders and formalise how decisions concerning our exploration will be made.

Additionally, Kingsrose has developed an Indigenous Peoples Policy, and will be receiving FPIC and cultural awareness training from Protect Sápmi.

Exploration Activities

Non-invasive geological mapping and sampling was carried-out during late-2021 and 2022. Based on this work, Kingsrose notified Sami rightsholders of its intention to complete a ground-based geophysical survey in February 2022. Spierttagáisá (14A) informed Kingsrose that due to challenging weather conditions, the area was required for emergency winter grazing. Kingsrose worked collaboratively to reschedule the proposed survey until after the reindeer calving season when the herd had moved to its summer pasture.

Kingsrose has applied for a special permit to conduct a small drilling program in the Karenhaugen area. In support of this application, Kingsrose provided funding for the Sámediggi (the Sami Parliament) to commission a Sami cultural heritage survey, and commissioned an independent biodiversity study. Sami rightsholders have informed Kingsrose and the authorities of their opposition to the drilling application in its current form. As such, Kingsrose intends to work collaboratively to complete an assessment of the potential impacts of drilling and develop mitigation measures in order to mutually agree how drilling can proceed.

As Kingsrose extends its exploration activities throughout Finnmark, the company is committed to continuing in this approach of proactive, transparent and respectful collaboration with all Sami rightsholders and local communities.