Sulliden Mining Capital has announced its acquisition of a 48% interest in a nickel, zinc and lead mining exploration project in Poland.
This strategic move involves the purchase of shares from Ferrite Resources Polska, with the project comprising the Szklary and Dabrowka concessions.
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The acquisition saw Sulliden pay €62,500 ($73,136.9) and agree to indemnify a former director of Ferrite Resources Polska for any costs related to his previous role.
The transaction, conducted at arm’s length, aligns with the policies of the Toronto Stock Exchange and did not result in a change of control for Sulliden.
The target property consisting of the Szklary and Dabrowka concessions is fully owned by Ferrite Resources Polska.
Szklary, located approximately 50km south of Wroclaw, is known for its nickel laterite deposit. Historical records show a production of 3.5 million tonnes (mt) at 0.79% nickel, equating to 28,000 tonnes.
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By GlobalDataDespite extensive drilling during the Soviet era and a NI 43-101-compliant technical report, additional drilling is planned to confirm historical inferences.
The project’s potential is further underscored by the proximity of two smelters within the Katowice mining hub, less than 20km away.
Established infrastructure including road and rail access complements the proven room and pillar mining methods and magnetic separation technology used at the site.
Dabrowka, situated 25km north of Katowice, has an existing historical shaft but requires a new decline shaft.
Sulliden anticipates minimal primary development and plans to drill an additional 27 holes to augment historical exploration data.
The project’s upside is enhanced by the presence of a second zinc and lead deposit, which the company intends to explore further with the additional drilling.
