J'sco Holdings Receives High-Grade Nickel Ore Report... "Accelerating Mining Preparations"

J-Sco Holdings announced on the 26th that it has received an analysis report on 120 drilling samples from Intertek, a global analysis specialist organization.

According to the drilling report, the saprolite layer contains a large amount of high-purity nickel of 1.8~2.0 or more and a small amount of cobalt.

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This analysis report pertains to drilling at a 2,700-hectare (ha) nickel mine owned by PMDC, a state-owned company under the Philippine Department of National Defense, for which EVMDC (EV Mining & Development Corporation) recently acquired development and operation rights on the 20th. Intertek, which conducted the sample analysis, is known as a reputable company that professionally performs testing, analysis, and verification in over 100 countries and 1,000 regions worldwide.

J-Sco Holdings plans to conduct component analysis of nickel content, ore distribution, and total reserves based on the 120 reports received from this drilling and an additional 180 drillings to be conducted and reported by September, and then prepare a development plan.

At the same time, they have started work on stockyards, single ports, and other facilities for full-scale mining and export in collaboration with EVMDC. Based on the Intertek analysis report, they plan to negotiate sales with nickel ore demand companies.

Han Sang-min, CEO of J-Sco Holdings, said, “On the 16th of last month, I personally visited the local mine in the Philippines with executives and witnessed all the drilling operations,” adding, “The reason we did not announce the negotiation process of over six months, the formal MOU signing, and the drilling work until the main contract was signed with PMDC, a Philippine state-owned company, was to dispel negative perceptions about overseas mines. We decided to announce it at the point when the Philippine government signed the main contract and the component analysis through drilling was completed.”

He continued, “J-Sco Holdings is on the verge of a second leap forward through the Philippine nickel ore project,” and added, “We will establish ourselves as a leading company in nickel ore to help South Korea secure competitiveness in the high-nickel secondary battery industry.”

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