- Amaroq Minerals Ltd. Npv (DI)
- 22 January 2025 13:36:20
Source: Sharecast
The AIM-traded firm said the new licence, designated MEL 2025-17, would add 666.51 square kilometres to Amaroq’s existing land holdings, bringing its total footprint across Southern Greenland to 6,800.1 square kilometres.
It said the newly-acquired area formed part of the company’s strategic focus on critical metals, with the South Greenland Copper Belt now accounting for 3,147 square kilometres of Amaroq's portfolio through its Gardaq Joint Venture.
Initial exploration work at the Ukaleq Target within the new licence area had returned promising results, including gold grades of up to 12.3 grams per tonne and copper grades reaching 5.1%.
The board said the mineralised zones were hosted in quartz and copper sulphide veins.
Beyond the high-grade results, Amaroq said it had identified a broader area of copper-gold anomalism extending up to 19 square kilometres, underscoring the licence's wider exploration potential.
Geochemical analysis suggested the presence of an intermediate-to-high sulphidation epithermal system, which was typically associated with significant copper, gold, and silver deposits globally.
The company said it believed that the identified mineralisation aligned with the broader geological framework of the South Greenland Copper Belt, supporting further exploration and development opportunities in the region.
“The award of the Johan Dahl Land licence and the promising early exploration results reaffirm Amaroq’s commitment to unlocking Greenland’s critical mineral potential,” said Amaroq’s vice-president of exploration James Gilbertson.
“The South Greenland Copper Belt is rapidly emerging as a significant exploration district, and our work at the Ukaleq Target has already demonstrated its significant resource potential.
“We are excited to advance exploration efforts and build on these discoveries to position Amaroq as a leader in sustainable mineral development in Greenland.”
At 1318 GMT, shares in Amaroq Minerals were up 7% at 112.89p.
Reporting by Josh White for Sharecast.com.