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LONDON - Aberdeen Minerals Ltd has commenced a significant drilling operation, dubbed "Phase 2B," at its Arthrath Project in North East Scotland, as announced by its investor Gunsynd Plc (AIM:GUN). The private UK company, which specializes in exploring for Nickel-Copper-Cobalt deposits, is undertaking this new phase following the promising results from its 2024 "Phase 2A" campaign.
The current drilling initiative aims to further explore the potential of these metals, which are crucial for battery production and the broader electrification movement, a key component in the UK’s energy transition strategy. Despite their strategic importance, the UK does not have any primary production of these raw materials.
Aberdeen Minerals has outlined a plan for five new boreholes, totaling 2,400 meters of drilling. The operation, which started recently, is scheduled to continue until mid-August. Priority Drilling UK Ltd has been contracted to perform the drilling, with the goal of collecting rock core samples from up to 400 meters below the surface.
The exploration is supported by private funding, following a capital raise in May 2024. The raise included a £3 million investment from Central Asia Metals Plc and an additional £0.5 million from other investors.
Gunsynd, which holds 2,000,000 ordinary shares in Aberdeen Minerals, acquired at a cost of £150,000, notes the progress as a significant development in its investment portfolio.
The forward-looking statements included in the press release reflect the company’s anticipation of future events and outcomes, acknowledging the inherent risks and uncertainties present in such exploratory and business endeavors.
This article is based on a press release statement and aims to present the facts surrounding Aberdeen Minerals Ltd’s latest drilling campaign in Scotland.
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