Kingsrose and BHP’s Norwegian alliance

Following encouraging geological results, Kingsrose Mining (ASX: KRM) and BHP (ASX: BHP) will renew their Finnmark Alliance for another year to continue exploration of several critical minerals throughout Norway.

Since its inception, BHP has provided funding of more than $9m (US$5.84m) to the project. The company has pledged an additional $5.42m (US$3.5m) in funding in the alliance’s second year.

“During the past year we achieved one of the largest generative exploration programs globally,” Kingsrose managing director Fabian Baker says.

“It is a rare opportunity to explore entire mineral belts from first principles, we are grateful to BHP for supporting these efforts financially and with the support and expertise of their multidisciplinary teams.”

BHP has elected to cease funding to the Central Finland Alliance in order to focus efforts on the Finnmark Alliance.

Kingsrose will retain all exploration tenure from the Central Finland Alliance and is assessing options to progress these assets through new joint venture partnerships.

The company aims to complete ‘play scale’ prospectivity assessment across the remainder of its un-flown tenure with airborne gravity gradiometry surveys and regional-scale airborne helicopter electromagnetic surveys.

“The upcoming work program will produce proprietary datasets over more than 200km strike of the Karasjok and Kautokeino Greenstone Belts, to define the most prospective areas for potential ‘camps’ of copper-nickel-PGE sulphide mineral deposits,” Mr Baker said.

The results of the 2025 work program will aid in the prioritisation of camps or clusters of mafic-ultramafic intrusions to generate drill targets with follow-up detailed ground surveys.