Kuniko believes that its Skuterud project in Norway has discovered a high-grade Middagshvile cobalt deposit.
　　The primary mineralization encountered during drilling is as follows: at a depth of 25 meters, a mineralized zone measuring 6.2 meters was identified, with a cobalt grade of 0.43%. This zone includes a 3-meter-thick section with a cobalt grade of 0.52% and a 1-meter-thick section with a cobalt grade of 1.08%.
　　Analysis results of samples from the deeper, buried target zone confirm continuous cobalt mineralization. In one borehole, mineralization was encountered at a depth of 23 meters over a 2.1-meter interval with a cobalt grade of 0.21%; at a depth of 135 meters, mineralization was found over a 5-meter interval with a cobalt grade of 0.04% and a copper grade of 0.15%; and at a depth of 201 meters, mineralization was observed over a 2.1-meter interval with a cobalt grade of 0.08%.
　　The company believes that within the widely distributed mineralized zone, there may be locally high-grade mineralization.
　　In the 18th and 19th centuries, Skuttrud was the world’s largest cobalt-producing region.