Kingsrose Concludes BHP Finnmark Alliance
Key points
- BHP terminates Finnmark Alliance, ending funding and interest in the project
- Kingsrose granted additional 950 km2 of exploration licenses
- Exploration results identify 30 high priority Cu-Ni-PGE targets
- Kingsrose plans to continue exploration, possibly seeking new partners
Full summary
Kingsrose Mining Ltd (ASX: KRM) announces the conclusion of its exploration alliance with BHP, which has ceased funding and terminated its interest in the Finnmark Project in Northern Norway. As a result, Kingsrose will hold 100% of the mineral tenure rights covering the project area. The exploration alliance, which ran from 2024 to 2026, has generated significant geological, geophysical, and geochemical datasets across the Karasjok and Kautokeino Greenstone Belts. Based on the results, Kingsrose has applied for and been granted 950 sq km of additional mineral tenure. The Company identified over 30 high priority Cu-Ni-PGE targets and confirmed the prospectivity of parts of the area for gold deposits. Kingsrose is considering options to continue advancing exploration targets, including seeking new partnerships or self-funding.
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