LONDON (ShareCast) – (ShareCast News) – Mineral assets developer Kodal Minerals (LSE: KOD.L – news) said the results of the drilling programme at the Grimeli copper and nickel project in Norway confirmed the presence of high-grade copper and zinc. The London-listed company said the best zinc grade delivered was 6.98%, while the best copper grade seen in the drilling was 8.39%.
“Overall the drill programme was successful in locating the first new high-grade mineral occurrence, which has been defined over a strike length of 150 metres and remains open down dip and to the west,” said group chief executive Luke Bryan.
“The drilling was quite challenging due to both the topography and the weather conditions in western Norway over winter.” The Norwegian site was a “very interesting early stage exploration project”, Bryan added.
Kodal shares were down 24.53% to 0.0566p at 1428 BST on Friday.
