Amaroq expands presence in South Greenland copper belt

Amaroq Minerals (PURPOSE, TSXV: AMRQ) has actually broadened its existence in southerly Greenland adhering to the honor of a brand-new permit that takes its complete landholding to 6,800 kilometres ².

The Johan Dahl land permit covers 666.5 kilometres ² of the South Greenland copper belt, an area that Amaroq claims has actually shown high capacity for copper-gold mineralization. The business currently holds 3,147 kilometres ² of the copper belt via its Gardaq joint endeavor.

Shares of Amaroq Minerals leapt 6.3% by noontime Wednesday adhering to the land honor news. At C$ 2.02, the supply is trading near a 52-week high of C$ 2.17. The business has a market capitalization of C$ 803.4 million.

Before the permit honor, the Amaroq group had actually performed an extensive area program throughout the Ukaleq target location. Tasting of subjected quartz and sulphide capillaries returned extremely motivating assay outcomes, highlighted by gold qualities of approximately 12.3 g/t and copper qualities getting to 5.1%.

Wider reconnaissance initiatives have actually up until now determined a 19 kilometres ² area of copper-gold anomalism, sustained by in-depth geochemical evaluations. The business claims its geochemical trademark recommends a prospective intermediate-to-high sulphidation epithermal system, comparable to those identified internationally.

” The honor of the Johan Dahl land permit and the encouraging very early expedition results declare Amaroq’s dedication to opening Greenland’s vital mineral capacity,” mentioned James Gilbertson, VP expedition for Amaroq.

” The South Greenland copper belt is quickly becoming a substantial expedition area, and our operate at the Ukaleq target has actually currently shown its substantial source capacity.”

Adhering to the land enhancement, Amaroq plans to incorporate the arise from the 2024 expedition program right into a more comprehensive expedition method this year. Planned tasks consist of geophysical studies to improve preliminary drill targets at Ukaleq, geochemical tasting to even more mark state-of-the-art areas within the 19 kilometres ² area, and expedition throughout the Johan Dahl permit to recognize extra mineralized systems.

Amaroq’s primary advancement possession in southerly Greenland is the past-producing Nalunaq cash cow, which it obtained in 2015 and just recently completed its first pour.