Vancouver-based Sienna Resources (TSXV: SIE) has begun drilling at its flagship Slättberg nickel-copper-cobalt project in Sweden. The company announced Friday that Arctic Drilling AS of Norway has been selected as the contracted driller to lead this multi-hole drill program.
“It has been well over a year since our last drill program and drill results are what the market wants to see. The work programs over the past few years have enabled us to razor focus the drill program into the most highly prospective locations for nickel,” Sienna Resources president Jason Gigliotti commented.
He also noted that the strong nickel price had made it an opportune time to start drilling for the battery metal.
Data gathered from the 2018 drill program, in addition to downhole electromagnetic surveys and modern sampling and geophysical work, had provided multiple new high-priority drill targets. The 2019 work program is fully funded by cash on hand, says the company.
Slättberg, located 25 km northwest of Falun, Sweden, is a historical mining camp hosting nickel-copper-cobalt rich massive sulphide mineralization.
The project contains drill-defined massive sulphide mineralization that extends to about 100 m in depth, and remains open for expansion at depth and along strike. It is accessible year round, with nearby rail, power and five smelters in the Nordic region. At least 16 historical mines are located on the property, with operations dating back to the late 1800s.
Sienna Resources’ stock surged by over 22% on Friday morning. The company’s market capitalization is C$3.1 million.