H1 2022 highlights
Nalunaq: Construction of mountain access roads required to facilitate the 2022 core drilling programme completed ahead of schedule and under budget.
Nalunaq: Drilling ahead of schedule with 7,300m of core drilling out of a scheduled 9,100m completed across the Valley Block with geological logging and sampling now underway. 2022 drilling focused on providing further resource confidence with a view to increasing the Mineral Resource Estimate (MRE) in due course.
Nalunaq: Preliminary Economic Assessment (PEA) commenced to assess bulk sample and eventual mine re-opening optionality.
Vagar Licence: Further geological mapping and sampling across new targets identified by the 2021 exploration programme scheduled for later in the season.
Nanoq: Contractors are mobilising to conduct an airborne geophysical survey across the target, and along an interpreted 20km structural corridor linking the discovery to the Jokum's Shear gold/copper occurrence. This area is now held by Amaroq under the newly acquired Siku licence securing access to multiple potential Orogenic gold targets.
Strategic Mineral Targets
North
Stendalen: Amaroq is in negotiations to conduct an MT geophysical survey across this Iron-Vanadium-Titanium layered intrusive with additional Nickel and Copper potential.
Regional: Further geological reconnaissance and sampling across the Eagle's Nest gold target, Kobbermineburgt copper targets and the Paatusoq Rare Earth target are scheduled for later in the 2022 season.
Operational Update
Further investment in operational infrastructure and equipment upgrades. With the 50 person all-weather camp in place at Nalunaq and a satellite field camp in situ at
Operational efficiency across all aspects of the Company's
Corporate Update
Significant 3,527.75 km2 mineral licence area has been acquired from Orano substantially increasing the Company's exposure to Base and
Establishment of non-binding Joint Venture agreement with
Cash balance of
Approval of special resolution to change the name of the Company to
Eldur Olafsson, CEO of
We are progressing with our strategic mineral exploration programme in
We continue to invest in our highly qualified senior management team, as well as selecting strong and reliable partners for contract appointments. In addition, we are now benefitting from considerably upgraded corporate governance systems and a strengthened Board, which continues to guide the strategic vision of our business.'
Contact:
Eldur Olafsson
Tel: +354 665 2003
Email: eo@amaroqminerals.com
About
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events and the future growth of the Company's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include but are not limited to the factors discussed under 'Risk Factors' in the Final Prospectus available under the Company's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made.
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