Canadian mining company Sienna Resources has announced that it has started a mineral sampling and geophysical study at its Slättberg nickel-copper cobalt project in Sweden, 25km north-west of the city of Falun.
The study is based on data collected in the 1970s that found areas of magnetic anomalies in the region, caused by the presence of stream sediment cobalt and nickel. The new study will collect samples of stream sediment and soil and glacial till in these magnetically anomalous areas in an attempt to identify new high-priority drill targets for the project.
Sienna president Jason Gigliotti said: “The initial results of the drill programme were encouraging but further target definition is still ongoing. The current work programs should enable us to prioritize the next phase of drilling. We will focus the next phase on the highest cobalt-centric locations as we are now able to work on these areas as the snow melt has now afforded us this ability.
“The EM surveys and new sampling work should provide multiple high priority drill targets, which we plan to test this summer. We look forward to a very active second half of 2018 as we have cash reserves to cover the plan work programs.”
Sienna purchased the Slättberg project from Eurasian Minerals in December of last year in exchange for three million shares in Sienna stock. The company also agreed to spend at least $500,000 on exploration as part of the deal, including drilling of at least 750m; Sienna’s recent mineral sampling study will help inform its future drilling projects.
The Slättberg project consists of three separate exploration projects covering 12,733 acres. The project has access to minerals within a sulphide mineralisation belt measuring 2km and extending 100m below the earth’s surface.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“There are now more than 20 mega battery factories currently being planned or constructed globally, creating a massive demand on the battery metals such as lithium, cobalt and nickel,” said Gigliotti. “Sienna is focused on exploring and developing projects that will meet this insatiable demand.”