Metals One acquires platinum group elements project in Norway
Metals One () has signed a binding term sheet for the conditional acquisition of Mjolner Minerals, the sole owner of the Lillefjellklumpen project in central Norway.
The Lillefjellklumpen project comprises a 20 square kilometre exploration licence hosting high-grade platinum group elements, gold, nickel, and copper mineralisation.
The project hosts some of the highest-grade PGE assays published in Norway. Surface sampling taken 2014 returned up to 17.5 grams per tonne palladium and platinum, alongside significant gold, nickel, and copper grades.
Its mineralisation characteristics show parallels to world-class deposits such as Sudbury in Canada and the Bushveld Complex in South Africa.
Metals One is acquiring Lillefjellklumpen for €90,000 and a 2% net smelter return royalty.
"We are excited to be potentially expanding our presence in Norway with the acquisition of the Lillefjellklumpen project, a high-potential asset showing exceptional PGE, nickel, and copper values,” said Craig Moulton, chairman of Metals One.
“This deal aligns with our strategy of acquiring low-entry-cost critical minerals assets with historical pedigree and significant discovery potential."
View from Vox
This acquisition expands Metals One's footprint in Norway, where it already holds an interest in the Råna nickel project, currently operated by Kingsrose Mining under a joint venture agreement. The addition of the project deepens Metals One's pipeline in Northern Europe and offers the opportunity to revisit a historically known high-grade zone with modern geophysics, geochemistry, and drilling.
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