Discovery of high-grade cobalt deposits in the Skutrud region of Norway

Cunico believes that it has found high-grade Middagshville cobalt ore in Skuterud project in Norway.

The main ore discoveries during drilling are: 6.2 meters at a depth of 25 meters, with a cobalt grade of 0.43%, including mineralization of 3 meters thick with a cobalt grade of 0.52%, and 1 meter thick with a cobalt grade of 1.08%.

The analysis results of samples buried in deeper target areas confirm that cobalt mineralization is continuous, with one hole showing 2.1 meters of ore at a depth of 23 meters, with a cobalt grade of 0.21%; At a depth of 135 meters, a deposit of 5 meters was found, with cobalt grade of 0.04% and copper grade of 0.15%; At a depth of 201 meters, 2.1 meters of ore was found, with a cobalt grade of 0.08%.

The company believes that there may be high-grade mineralization locally within the widely distributed mineralization zone.

In the 18th and 19th centuries, Skutrud was the world's largest cobalt producing region.

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