Amaroq Minerals Ltd on Wednesday said it found 182 grammes of gold per tonne at Nalunaq in Greenland, the highest grade drill results since the founding of the company.
The Greenland-focused mine development company said a discovery of a new high-grade vein significantly increased Nalunaq’s resource potential.
Chief Executive Officer Eldur Olafsson said: ‘These are the highest grade drill results at Nalunaq since we founded Amaroq Minerals in 2017. These results highlight the substantial upside potential to our development plans, and confirms the extension of the high grade zone, which sits within our current mine plan and extends beyond.’
James Gilbertson, VP at Amaroq’s Exploration unit, said: ‘We deliberately focused this year’s Nalunaq exploration programme on the mountain block, the planned area for our initial mining programme due to commence in 2024. Our efforts will now turn to developing a further mining front at Nalunaq, with underground exploration and drill planning on the target block high grade zone.’
Amaroq Minerals shares rose 3.6% to 58.00 pence each on Wednesday afternoon in London.
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