Amaroq announces Greenland drilling results

Overview

• Four holes drilled for 2200 m across two targets on the Sava Licence completed on time and budget.
• The Sava project is centred on an emerging copper district straddling 120 km across South Greenland, making this a significant new mineral belt.
• Amaroq has identified 36 targets across the emerging copper belt, likely associated with a series of magma chambers formed during a geological event around 1.8 billion years ago.
• These results are now being integrated with the extensive geophysics, flown right across the copper belt, to extract all value ahead of further announcements in 2Q24.

James Gilbertson, VP Exploration of Amaroq, commented:

“Our 2023 drill programme at Sava has identified further evidence of a significant copper mineral system at Target West. These results, on previously overlooked ground, suggest the presence of a typical large-scale porphyry-style system and are testament to our discovery strategy and geological team. Target West is the first of multiple copper targets within Amaroq’s portfolio. We have now confirmed skarn mineralisation with up to 11.6% Cu at Kobberminebugt, porphyry-style mineralisation at Sava with assays up to 2.0% CuEq and numerous other porphyry, and epithermal targets across a belt extending over 120 km.

“2023 proved to be a very promising first year for our 3-year funded exploration programme through the Gardaq JV. At present we have identified tonnage and remain close to surface. We will now continue to drill the targets to identify and locate high-grade mineralisation. Subject to results, we would expect to be in a position to define the feasibility of a project such as this after 3 – 5 years and at that stage establish a pathway towards permitting and development.”

Read the article online at: https://www.globalminingreview.com/mining/24012024/amaroq-announces-greenland-drilling-results/