("Amaroq" or the "Corporation" or the "Company")
Kobberminebugt Licence Exploration Results
Copper mineralisation confirmed across licence with up to 11.6% copper returned, highlighting potential of
Highlights
- Surface and underground surveys completed over the historic Josva copper mine have built an understanding of mineralisation style, extent and controlling geology
- Copper mineralisation confirmed as skarn related, with potential for significant tonnages at depth or along strike. This opens up the potential for numerous similar bodies across more that 40km of granite contact zone, which will be further explored during 2023
- Remaining mineralisation at Josva sampled with channel samples, which recorded up to 4.2% Cu over 2.5m including 11.6% Cu over 50cm
-
Mineralisation relates to the same geological events sampled at the Company's
Sava project highlighting the significant scale of this emerging copper belt over at least a 120km strike length
Eldur Olafsson, CEO of Amaroq, commented:
"The Company continues to further its strategic metals projects, building upon the mineral potential of
References to our accompanying presentation on the Kobberminebugt results on the website by clicking the link below: https://www.amaroqminerals.com/investors/presentations/
Amaroq Exploration Programme
Amaroq acquired the licence covering these occurrences in the summer of 2021, following the conclusion of its mineral system modelling of
Figure 1. Extract of drone survey conducted across the Josva mine mineralisation zone
The Company's field work indicated massive copper sulphide bearing (bornite, chalcopyrite, chalcocite) mineralisation hosted in a sheared vein system that parallels the Kobberminebugt shear. These veins are hosted within a roughly 25m wide diopside-hornblende skarn exhibiting a strong cleavage and hosting lower grade copper mineralisation. This zone is in direct contact with hydrothermally altered Ketilidian granites.
Samples of these vein systems returned up to 4.2% Cu over 2.5m including 11.6% Cu over 50cm. Minor gold and silver grades were also reported.
Figure 2. Skarn hosted massive sulphide mineralisation observed at Josva - 11.6% Cu over 50cm
The Amaroq geology team is now confident in the skarn origin to this mineralisation at Kobberminebugt which opens up the potential for multiple mineralised skarns along the granite contact zone which extends ~40km to the northeast and in a further ~35km contact zone in the north of the licence. This highlights the copper potential of this area of the
It is hypothesised these skarns formed late in the orogenic sequence that saw the subduction of material below the Archean craton to the North. These regions along the final suture zone are considered particularly prospective for Iron Oxide, Copper, Gold (IOCG) mineralisation and related hydrothermal and magmatic mineralisation styles.
2023 Exploration Programme
Amaroq intends to follow this exploration with a detailed assessment in 2023 of the skarn geometry and minerology, and plans to generate targets at depth at Josva and along strike of the skarn contact zones and Kobberminebugt shear system through commissioning a detailed airborne geophysical programme utilising a similar system to that successfully employed across the Company's other
Geological Background
The Kobberminebugt licence covers a coastal area in South-
Licence History
Narrow vein hosted high grade copper mineralisation was exploited at the Josva mine, which was operated by Grønlands Minedrift Aktieselskab between 1853-1855 and 1905-1914. It is estimated that ~91 metric tons of copper as well as small amounts of gold (16oz) and silver (1,600oz) were extracted from 2200 tons of ore that was smelted on the site.
Figure 3. Historical image of the past producing Josva copper mine, circa 1906
Enquiries:
Eldur Olafsson, Executive Director and CEO
+354 665 2003
eo@amaroqminerals.com
+44 (0)7713 126727
ew@amaroqminerals.com
Simon Mensley
+44 (0) 20 7710 7600
+44 (0) 20 7886 2500
SI
+44 (0) 1483 413500
Camarco (Financial PR)
+44 (0) 20 3757 4980
For Company updates:
Follow @Amaroq_minerals on Twitter
Further Information:
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. Except as required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither
Inside Information
This announcement contains inside information for the purposes of Article 7 of the
Qualified Person Statement
The technical information presented in this press release has been approved by James Gilbertson CGeol, VP Exploration for
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https://news.cision.com/amaroq-minerals-ltd/r/kobberminebugt-licence-exploration-results,c3702044
https://mb.cision.com/Main/21957/3702044/1798533.pdf
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