Amaroq announces new nickel-copper discovery at Sendalen

Overview

• Over 140 m of disseminated magmatic sulfides containing nickel, copper, and cobalt intersected in the first scout drillhole at Stendalen.
• Sulfides so far intersected are lower grade and disseminated in style and Amaroq will use these results to target the more concentrated massive sulfides expected to be within the deposit.
• Geophysical results provide evidence of the location of the feeder zone to the deposit and will be the focus for the 2024 drilling programme.
• The critical aspects of these results, such as sulphide tenors, textures, scale and minerology, are considered similar to globally important nickel-copper deposits.
• Calculation of the tenor of the sulfides, based upon the assays received, implies that, due to relative metal content, Stendalen holds the ability to host grades similar to analogous deposits, therefore if intersected, massive sulfide could hold grades of up to 3 – 5% nickel equivalent.
• Metals are hosted solely in sulfides, therefore Amaroq anticipates strong future metal recoveries.
• The 2023 drillhole was the first hole into a body that is roughly 6 km in diameter; it is therefore possible that Stendalen hosts multiple large orebodies.
• This mineral discovery further illustrates the opportunities across South Greenland.
• The company believes these results justify further exploration and plans a significant upscale in activities with at least three drill rigs and a dedicated ground geophysical team planned for 2024.

Eldur Olafsson, CEO of Amaroq, commented: “A new mineral discovery such as that seen at Stendalen is the culmination of many years of hard work by the Amaroq geological team, and is testament to our belief that South Greenland holds exceptional opportunities to host world class deposits. The discovery of strategic metals such as copper and nickel, critical for the energy transition, in a region with such a strong geopolitical position, cannot be overstated. These initial results give us the confidence to deploy a larger proportion of the company’s Gardaq JV fully funded three-year exploration programme to this project during 2024 and beyond.”

James Gilbertson, VP Exploration of Amaroq, added: “Our geological team made a number of breakthrough predictions following our detailed geological modelling of South Greenland and I’m exceptionally grateful to the Boards of both Amaroq and our JV partners in having the confidence to allow us to test our hypothesis. This scout programme exceeded all of our expectations. Although the current intersection is disseminated lower grade, the features of the rocks indicate that the magma was dynamic, these Taxite textures are fundamental characteristic of the world’s largest high-grade nickel-copper deposits, including Talnakh (Noril’sk), Sudbury and Voisey’s Bay. Further, the sulfide tenors recorded suggest high grades within the system which are the key objectives for our 2024 exploration.

“This is the start of the road for Stendalen, with further geophysics and drilling campaigns to come. The success of this programme greatly increases the potential for discovering further strategic metal deposits across other identified targets in Amaroq’s portfolio and proves, without doubt, the mineral potential of South Greenland.”

2024 exploration plans

Geophysics

The intersected sulphide zone is not clearly visible in the 2023 airborne MT survey data, and further data processing is planned. Two further programmes are planned for 2024, ground MT and downhole electromagnetics geophysical surveys. Data from all geophysical surveys will then be combined and used to reprocess and reinterpret the deposit models. This should greatly enhance the company’s ability to discriminate sulfide accumulations and will guide all further drilling. The ground MT survey will be performed early in the 2024 season, giving time for drillhole locations to be optimised.

Geological mapping

Detailed geological and structural mapping of the Stendalen complex will also be used to refine the geological model and understanding of the mineralisation process.

Drilling

Several deep drillholes are planned within the discovery valley zone, up to a maximum depth of 1500 m. Up to three drill rigs will be mobilised in 2024. Holes will target the base of the layered series and the modelled gabbro feeder zone which is thought to have good potential for greater accumulations of nickel-copper sulfides. All holes will be surveyed with downhole EM geophysics, which will greatly enhance the 3D geophysical model at depth.

Read the article online at: https://www.globalminingreview.com/exploration-development/01032024/amaroq-announces-new-nickel-copper-discovery-at-sendalen/