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:
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Metals One
Plc
Jonathan Owen, Chief Executive
Officer
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via Vigo Consulting
+44 (0)20 7390 0234
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Beaumont
Cornish Limited (Nominated Adviser)
James Biddle / Roland Cornish
www.beaumontcornish.com
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+44 (0)20 7628 3396
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Shard Capital
Partners LLP (Joint Broker)
Damon Heath / Erik Woolgar
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+44 (0)20 7186 9952
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SI Capital
Limited (Joint Broker)
Nick Emerson
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+44 (0)14 8341 3500
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Fortified
Securities (Joint Broker)
Guy Wheatley, CFA
www.fortifiedsecurities.com
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+44 (0)20 3411 7773
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Vigo
Consulting (Investor Relations)
Ben Simons / Kendall Hill
metalsone@vigoconsulting.com
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+44 (0)20 7390 0234
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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 km2 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.
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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').