REG - Amaroq Minerals Ltd - Amaroq becomes largest licence holder in Greenland

Amaroq MineralsAnnouncement

31/10/2023 07:15

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RNS Number : 7855R  Amaroq Minerals Ltd  31 October 2023

("Amaroq" or the "Corporation" or the "Company")

Amaroq becomes largest licence holder in Greenland

Award of two further mineral exploration licences in South Greenland

Total land package increases to 9,785.56 km(2)

 

TORONTO, ONTARIO - October 31, 2023 - Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ
First North: AMRQ), an independent mine development company with a substantial
land package of gold and strategic mineral assets in South Greenland,
announces the significant expansion of its mineral license holding following
the granting of two new mineral exploration licences by the Government of
Greenland.

 

Highlights

·    Two new mineral exploration licences awarded, totalling 1,916.81
km(2) focusing on extensions of Amaroq Minerals existing strategic mineral
exploration licenses.

·    New land package increases the Corporation's total licence holding to
9,785.56 km(2), making the licence holding the largest of any mineral
exploration company in Greenland.

·    Newly awarded exploration ground will increase the Company's total
licence package to cover the majority of the strike of the emerging South
Greenland copper / Iron Oxide Copper Gold (IOCG) belt.

Eldur Olafsson, CEO of Amaroq, commented:

"The exciting award of two new, highly prospective mineral licenses is further
evidence of our continued long term vision for the Greenlandic mining sector
and commitment to Greenland as a strategic supplier of essential critical
minerals. I am very pleased to confirm Amaroq's status as Greenland's largest
license holder, now holding under concession the majority of the region's
emerging IOCG and copper belt.

This development is fully aligned to our strategy of securing exploration
rights across South Greenland's gold and critical mineral belts, complementing
our existing portfolio. We intend to pursue new significant copper and
critical mineral discoveries across these licenses with our joint venture
partner, GCAM."

Amaroq's New Licences

Amaroq Minerals has secured the award of two new mineral exploration licences
in South Greenland, covering a collective size of 1,916.81km(2). This now
makes the Corporation the largest single mineral licence holder in Greenland
with a total of 9,785.56 km(2). The two new licences comprise:

·    Nunarsuit - connecting the copper prospectivity seen at the Sava
licence to the historical Josva copper mine in the Kobbermineburgt licence in
the West and also incorporating the Nunarsuit intrusion, an unexplored Rare
Earth Elements ("REE") district within the Gardar Province, already known to
host significant REE and other critical element potential; and

·    Paatusoq West - covering the western extension of the Paatusaq Gardar
intrusion, prospective for REE and other critical metals.

The Corporation now holds the vast majority of the newly defined South
Greenland copper tract under licence, spanning from Kobberminebugt in the West
to North Sava in the East. This tract has the potential to host world class
copper and strategic mineral deposits in the form of skarns, IOCG and porphyry
bodies. These licences also cover part of the Gardaq Province Mineral Belt
that holds significant potential for REE projects such as Kvanefjeld and
Tanbreez. Amaroq will look to continue its funded exploration activities
across these licences and the full licence portfolio over the coming years
under the terms of its joint venture with GCAM.

Figure 1. Location of the two new Amaroq Mineral licences in South Greenland

 

Enquiries:

Amaroq Minerals Ltd.

Eldur Olafsson, Executive Director and CEO

eo@amaroqminerals.com

 

Eddie Wyvill, Corporate Development

+44 (0)7713 126727

ew@amaroqminerals.com

 

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart

Varun Talwar

Simon Mensley

Ashton Clanfield

+44 (0) 20 7710 7600

 

Panmure Gordon (UK) Limited (Joint Broker)

John Prior

Hugh Rich

Dougie Mcleod

+44 (0) 20 7886 2500

 

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Charlie Dingwall

+44 (0) 20 3757 4980

 

For Corporation updates:

Follow @Amaroq_Minerals on X (Formerly known as Twitter)

Follow Amaroq Minerals Ltd. on LinkedIn

 

Further Information:

About Amaroq Minerals

Amaroq Minerals' principal business objectives are the identification,
acquisition, exploration, and development of gold and strategic metal
properties in Greenland. The Corporation's principal asset is a 100% interest
in the Nalunaq Project, an advanced exploration stage property with an
exploitation license including the previously operating Nalunaq gold mine. The
Corporation has a portfolio of gold and strategic metal assets in Southern
Greenland covering the two known gold belts in the region. Amaroq Minerals is
incorporated under the Canada Business Corporations Act and wholly owns
Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

Inside Information

This announcement does not contain inside information.

 

Qualified Person Statement

The technical information presented in this press release has been approved by
James Gilbertson CGeol, VP Exploration for Amaroq Minerals and a Chartered
Geologist with the Geological Society of London, and as such a Qualified
Person as defined by NI 43-101.

 

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